Promulgation Authorities：Ministry of Finance , State Administration of Taxation
Release Date：2020.04.30
Effective Date：2020.04.30
Doc Number：Announcement [2020] No.24 of the Ministry of Finance and the State Taxation Administration
Announcement on Extending the Implementation Period for Value-added Tax Deduction and Exemption Policies for Small-scale Taxpayers
Announcement [2020] No.24 of the Ministry of Finance and the State Taxation Administration
For the purposes of further supporting resumption of business operations in all aspects by individually-owned businesses and micro and small-sized enterprises, announcement is hereby made on the relevant tax policies as follows:
The implementation period for tax incentive policies stipulated in the Announcement of the Ministry of Finance and the State Taxation Administration on Value-added Tax Policies for Supporting Resumption of Business Operations by Individually-owned Businesses (Announcement [2020] No. 13 of the Ministry of Finance and the State Taxation Administration) shall be extended to 31 December 2020.
Ministry of Finance
State Taxation Administration
April 30, 2020
Details as follows:
Announcement on Value-added Tax Policies for Supporting Individual Businesses in Resumption of Business
Announcement [2020] No.13 of the Ministry of Finance and the State Taxation Administration
For the purposes of supporting individually-owned businesses in carrying out proper control of novel coronavirus-infected pneumonia epidemic and expediting resumption of work and business, announcement is hereby made on the relevant value-added tax ("VAT") policies as follows:
During the period from March 1, 2020 to May 31, 2020, for the taxable sales income of small-scale VAT taxpayers in Hubei Province to which a levy rate of 3% is applicable is exempted from VAT, and the pre-payment VAT on pre-payment VAT items subject to a pre-levy rate of 3% is suspended. Except for those in Hubei Province, small-scale VAT payers in other provinces, autonomous regions and centrally-administered municipalities may pay VAT at the reduced levy rate of 1% for their taxable sales revenue subject to a levy rate of 3%; they may also prepay VAT at the reduced pre-levy rate of 1% for their pre-payment VAT items subject to a pre-levy rate of 3%.
Ministry of Finance
State Taxation Administration
February 28, 2020
