It was addressed by China Premier Mr. Li Keqiang during the National People’s Congress on 5th March 2017 for the work arrangement for China government during the Year 2017. Shanghai Dongjin finds the below as the main points.
- The tax break for micro and small companies will be increased from RMB300,000 to RMB500,000;
- The proportion for the extra deduction of research and development expenses for the small and medium companies in the technology industry will be increased from 50% to 75%;
- The VAT rate will be reduced from four categories (17%, 13%, 11% and 6%) to three categories.
These favorable policies make the China a better destination for investment. It also brings good news to the foreign investors.
If you have any questions, please send the email to me.
Ms. Jojo Hu
TEL: 0086-21-68868335 ext 324 / FAX: 0086-21-68868021