Announcement of the State Administration of Taxation on Issues concerning the Administration of Tax Levy for Implementing the Widened Coverage of Preferential Income Tax Policies for Small Low-profit Enterprises
Announcement of the State Administration of Taxation on Issues concerning the Administration of Tax Levy for Implementing the Widened Coverage of Preferential Income Tax Policies for Small Low-profit Enterprises
Announcement of the State Administration of Taxation on Issues concerning the Administration of Tax Levy for Implementing the Widened Coverage of Preferential Income Tax Policies for Small Low-profit Enterprises
Announcement of the State Administration of Taxation [2017] No.23
June 7, 2017
In accordance with the provisions of the Implementing Regulations of the Law of the People's Republic of China on Enterprise Income Tax (the "Implementing Regulations of the Enterprise Income Tax Law") and the Circular of the Ministry of Finance and the State Administration of Taxation on Widening the Coverage of Preferential Income Tax Policies for Small Low-profit Enterprises (Cai Shui [2017] No.43), issues concerning the administration of tax levy for implementing the widened coverage of preferential income tax policies for small low-profit enterprises are hereby announced as follows:
I. From January 1, 2017 to December 31, 2019, where the annual taxable income of a qualified small low-profit enterprise is lower than CNY500,000 (including CNY500,000, hereinafter the same) no matter whether the enterprise is subject to enterprise income tax on an accounts assessment basis or on a deemed income basis, the enterprise may be entitled to the policy as provided by the document Cai Shui [2017] No.43 whereby its income is included in the taxable income at the reduced ratio of 50%, and enterprise income tax is paid at the tax rate of 20% (the "50% tax reduction
The aforesaid qualified small low-profit enterprises refer to the enterprises that are in compliance with the provisions of Article 92 of the Implementing Regulations of the Enterprise Income Tax Law or the requirements as provided by the document Cai Shui [2017] No.43.
When the enterprises prepay the income tax for the first quarter of the current year, if they fail to complete the annual final settlement for the last tax year, which makes it impossible to judge whether they are qualified small low-profit enterprises for the last tax year, the judgment can be made based on the prepayment declaration for the fourth quarter of the last tax year for the time being.
II.
......
Announcement of the State Administration of Taxation [2017] No.23
June 7, 2017
In accordance with the provisions of the Implementing Regulations of the Law of the People's Republic of China on Enterprise Income Tax (the "Implementing Regulations of the Enterprise Income Tax Law") and the Circular of the Ministry of Finance and the State Administration of Taxation on Widening the Coverage of Preferential Income Tax Policies for Small Low-profit Enterprises (Cai Shui [2017] No.43), issues concerning the administration of tax levy for implementing the widened coverage of preferential income tax policies for small low-profit enterprises are hereby announced as follows:
I. From January 1, 2017 to December 31, 2019, where the annual taxable income of a qualified small low-profit enterprise is lower than CNY500,000 (including CNY500,000, hereinafter the same) no matter whether the enterprise is subject to enterprise income tax on an accounts assessment basis or on a deemed income basis, the enterprise may be entitled to the policy as provided by the document Cai Shui [2017] No.43 whereby its income is included in the taxable income at the reduced ratio of 50%, and enterprise income tax is paid at the tax rate of 20% (the "50% tax reduction
The aforesaid qualified small low-profit enterprises refer to the enterprises that are in compliance with the provisions of Article 92 of the Implementing Regulations of the Enterprise Income Tax Law or the requirements as provided by the document Cai Shui [2017] No.43.
When the enterprises prepay the income tax for the first quarter of the current year, if they fail to complete the annual final settlement for the last tax year, which makes it impossible to judge whether they are qualified small low-profit enterprises for the last tax year, the judgment can be made based on the prepayment declaration for the fourth quarter of the last tax year for the time being.
II.
......