The Chinese government will provide micro and small businesses additional tax benefits

Almaty. August 20. Silkroadnews - Additional tax relief will be provided to micro and small businesses as "the main source of new jobs and the driving force of development", reported the agency Xinhua.
"The decision on the additional tax was taken at a meeting of the State Council chaired by Premier Li Keqiang", - says the publication.
In addition to the further implementation of the existing fair benefits decided for the period from 1 October 2015 and until the end of 2017 to expand the range of micro and small enterprises, to which income tax is levied only in respect of half of the income.
It was also decided to extend the policy of exemption from VAT and sales tax for micro and small enterprises, individual households and other individuals with sales of 20-30 thousand Yuan a month.
The purpose of this decision, as was stated at the meeting, "to build capacity in the field of employment and to maintain long-term sustainability of economic development".