| Chinese Version          

Xiao Jie, Minister of MOF, disclosed in the press conference of the first session of 13th National People’s Congress that the VAT system would be continuously reformed and perfected; the individual income tax reform would be implemented; the support to medium, small and micro-sized enterprise would be strengthen; the annual sales standards for small-scale tax payer would be unified; the scope of the small and micro-sized enterprises enjoying the half reduced income tax preferential policy would be significantly expanded. Also the equipment and tools newly purchased with the amounts below 5 million RMB would enjoy one time deduction before the tax at the current year.


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Released by China Accounting on  June 29, 2018, please indicate the source and author. 

Original Link:http://news.esnai.com/2018/0307/170665.shtml

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