20 December 2023
The Ministry of Finance, the State Taxation Administration (“the authorities”) issued the “Guideline for Supporting the Development of Small and Micro Enterprises and Individual Industrial and Commercial Households Tax Preferential Policies (2.0)” (“the Guideline”) on 20 December 2023. The authorities announced 50 tax preferential policies, including small and micro enterprises may enjoy reduced taxable income of 25%, which is subject to corporate income tax of 20%. This policy shall continue to implement until 31 December 2027.