Promulgation Authorities： State Administration of Taxation
Release Date： 2020.05.19
Effective Date： 2020.05.01
Announcement of the State Taxation Administration on Matters concerning the Deferred Payment of Income Tax in 2020 by Small Low-profit Enterprises and Individual Businesses
Announcement of the State Taxation Administration [2020] No.10
For the purposes of further supporting resumption of production and business by small low-profit enterprises and individual businesses, alleviating their pressure on manufacturing and business funds, and stimulating the vitality of market players, announcement is hereby made on matters relating to deferred payment of income tax in 2020 by small low-profit enterprises and individual businesses as follows:
I. Policies on the Deferred Payment of Income Tax for Small Low-profit Enterprises
From May 1, 2020 to December 31, 2020, small low-profit enterprises may defer the payment of corporate income tax for the current period after completing the filing of tax returns with prepayment according to the provisions in the remaining filing period in 2020, and the payment of all income tax amount may be deferred to the first period for filing tax returns in 2021. When filing tax returns with prepayment, small low-profit enterprises may enjoy the policy on deferred payment of corporate income tax for small low-profit enterprises by filling in the relevant rows of the prepayment tax return form.
The term "small low-profit enterprises" referred to in this Announcement shall mean enterprises which satisfy the criteria stipulated in the Announcement of the State Taxation Administration on Issues Relating to Implementation of Inclusive Income Tax Reduction and Exemption for Small Low-profit Enterprises ([2012] No. 2).
II. Policies on the Deferred Payment of Income Tax for Individual Businesses
During the period from May 1, 2020 to December 31, 2020, upon completion of filing returns for individual income tax on income from business operation in the remaining filing period for 2020 as required, individual businesses may defer payment of individual income tax for the current period, and the payment of all income tax amount may be deferred to the first period for filing tax returns in 2021. For individual businesses adopting the simple method for filing tax returns, individual income tax will not be deducted temporarily during the period from May 1, 2020 to December 31, 2020, and the payment of all income tax amount may be deferred to the first period for filing tax returns in 2021.
This Announcement shall come into force as of May 1, 2020. Taxpayers who have paid tax amount which complies with the provisions of this Announcement on deferring tax payment during the period from May 1 to the date of promulgation of this Announcement may apply for refund and the payment of all income tax amount may be deferred to the first period for filing tax returns in 2021.
State Taxation Administration
May 19, 2020
