Announcement of the State Administration of Taxation on Issues concerning the Implementation of the Expansion of the Scope of Small Low-profit Enterprises Subject to Half-reduced Enterprise Income Tax
Announcement of the State Administration of Taxation on Issues concerning the Implementation of the Expansion of the Scope of Small Low-profit Enterprises Subject to Half-reduced Enterprise Income Tax
Announcement of the State Administration of Taxation on Issues concerning the Implementation of the Expansion of the Scope of Small Low-profit Enterprises Subject to Half-reduced Enterprise Income Tax
Announcement of the State Administration of Taxation [2015] No.17
March 18, 2015
In order to implement the decision of the 83rd executive meeting of the State Council on the expansion of the scope of the implementation of the preferential tax policies for small low-profit enterprises subject to half-reduced enterprise income tax, in accordance with the Law of the People's Republic of China on Enterprise Income Tax and the Implementing Regulations thereof and the Circular of the Ministry of Finance and the State Administration of Taxation on the Preferential Enterprise Income Tax Policies for Small Low-profit Enterprises (Cai Shui [2015] No.34), issues concerning the implementation of preferential enterprise income tax policies for small low-profit enterprises are hereby announced as follows:
I. Small low-profit enterprises meeting the required conditions, including those subject to taxation by self-assessment and those subject to taxation by assessment, may enjoy the preferential enterprise income tax policies for small low-profit enterprises.
The preferential enterprise income tax policies for small low-profit enterprises include the collection of enterprise income tax at 20% (hereinafter referred to as the "tax rate reduction policy") and the preferential policy provided by the document numbered Cai Shui [2015] No.34 (hereinafter referred to as the "policy of reducing taxable income by half").
II. A small low-profit enterprise meeting the required conditions may enjoy the preferential enterprise income tax policies for small low-profit enterprises at its sole discretion without the examination and approval by the relevant tax authority when the enterprise income tax is prepaid by quarter and month.
When a small low-profit enterprise prepays and makes a final settlement, it shall fulfill the filing procedures by filling in the columns such as "number of employees and total assets" on the enterprise income tax return, and no longer make other specialized record-filing.
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