Small and micro enterprises are temporarily exempt from VAT and business tax in China

According to the State Administration of Taxation, Ministry of Finance, to further support the development of small and micro enterprises, the State Council approved that August 1, 2013 onwards, the small-scale VAT taxpayers with sales of businesses not exceeding 20,000 yuan will be temporarily exempt from VAT; business tax taxpayers (corporate or enterprise units) with monthly turnover not exceeding 20,000 yuan can be exempt from sales tax.

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