Preferential Income Tax Policy for Small & Low-Profit Enterprises to Expand
On 11th July 2018 China’s Ministry of Finance (MOF) and the State Administration of Taxation (SAT) jointly released the Notice on Further Expanding the Coverage of the Preferential Income Tax Policy for Small Low-profit Enterprises, Caishui [2018] No. 77, according to which, the upper limit of taxable income for small and low profit enterprises that can receive tax preferences has been raised from RMB 500,000 to 1 million.