30 June 2023
The State Taxation Administration (“the authorities”) issued the “Guidelines for Tax Incentives Policy Supporting the Employment and Entrepreneurship of College Graduates and Youth” (“the Guidelines”) on 30 June 2023. The authorities announced a series of tax incentives policies supporting the employment and entrepreneurship of college graduates and Youth, including from 1 January 2019 to 31 December 2025, college graduates who hold the “Employment and Entrepreneurship Certificate” and engage in individual businesses in the year of graduation may have their actual value-added tax payable, urban maintenance and construction tax, educational surcharge, local educational surcharge, and individual income tax deducted up to a limit of RMB12,000 per year for three consecutive years.