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China extends, improves tax relief policies for businesses
Published on: 2023-03-28
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China has extended and improved a raft of preferential tax and fee policies, according to multiple statements issued by the Ministry of Finance and the State Taxation Administration based on decisions made at a State Council meeting last week.
 

For low-profit small enterprises, the portion of their annual taxable income that does not exceed 1 million yuan (US$145,530) will be calculated as 25 percent of the original amount from 2023 to 2024. For self-employed individuals under the same condition, their corresponding individual income tax payments will be halved.
 

For land used by logistics companies for bulk commodity storage, the land-use tax rate will be halved from 2023 to 2027.
 

To better support sci-tech innovation, the country will further improve its policy on the pretax deduction of research and development expenses of enterprises starting January 1, 2023.
 

Moreover, to support micro and small enterprises and relieve the burden on businesses, the preferential policies on employment security funds for disabled people will continue to take effect until the end of 2027.
 

国常会延续和优化部分阶段性税费优惠政策

3月24日,国务院总理李强主持召开国务院常务会议,研究优化完善部分阶段性税费优惠政策。会议决定,延续和优化实施部分阶段性税费优惠政策,包括将符合条件行业企业研发费用税前加计扣除比例由75%提高至100%的政策,作为制度性安排长期实施;将减半征收物流企业大宗商品仓储用地城镇土地使用税政策、减征残疾人就业保障金政策,延续实施至2027年底;将减征小微企业和个体工商户年应纳税所得额不超过100万元部分所得税政策、降低失业和工伤保险费率政策,延续实施至2024年底;今年底前继续对煤炭进口实施零税率等。以上政策预计每年减负规模达4800多亿元。

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