Tax favorable policies raised to ¥500,000 小微企业所得税优惠范围扩大至50万元

摘要: 财政部、国家税务总局7日发布通知,明确扩大小型微利企业所得税优惠政策范围的有关政策, Taxable Income tax for favorable policies raised to ¥500,000


On June 7, the Ministry of Finance (MOF) and the State Administration of Taxation (SAT) of China introduced some preferential policies concerning income tax for small-and micro-sized low-profit enterprises, a step to further facilitate their development.



Previously, 6 tax reduction policies were decided in an executive meeting of the State Council, including enlarging the coverage scope of small- and micro-sized low-profit enterprises benefiting from tax reduction policies. Specific arrangements were made by MOF andSAT accordingly in this notice.



Specifically, from January 1, 2017 to December 31, 2019, the ceiling of annual taxable income of small- and micro-sized low-profit companies is raised to rmb500,000 from rmb300,000. For those companies whose annual taxable income is no more than rmb500,000 (inclusive), their amount of actual taxable income can be decreased to 50% of the original figure, with a tax rate of 20%.



According to theintroduction, the small- and micro-sized low-profit enterprises refer to those legal industrial enterprises that fit to the following requirements:

1. Annual taxable income < ¥500,000

2. Numbers ofemployee <=100

3. Total asset<= ¥30,000,000;

As for other companies, the standards are:

1. Annual taxable income < ¥500,000

2. Numbers of employee <=80

3. Total asset<= ¥10,000,000



MOF and SAT require that finance and tax departments at all levels must actively publicize the preferential policies and offer necessary tutoring to those qualified companies, to make sure the implementation of the policies.



According to adirector of the Income Tax Division of SAT, Recent years have been witnessing several tax adjustments for small- and micro-sized enterprises made by the CPCCentral Committee and the State Council. The ceiling of annual taxable income that is allowed to be paid half has been raised from previous RMB60,000 to RMB100,000, RMB200,000, RMB300,000, and finally to current RMB500,000, a sign that the government attaches importance to and supports the development of small- andmicro-sized companies.



"These enterprises, mostly labor-intensive ones, are playing important roles in stabilizing national economic growth and securing peoples well-being. From 2012 to 2016, the number of times of implementing tax preferential policies for small- and micro-sizedcompanies reached around 15 million, with a reduced income tax nearly RMB70 billion. Besides, the recent three years have seen anaverage annual growth of 38% in the tax reduction. In this context, the issuance of the new policies this time is expected to further reinforce the confidence of domestic enterprises, particularly small ones, and to produce positive economicand social gains," said the official. 

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