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Tax breaks for small businesses reach 100 billion yuan in 2015

Updated: Jan 29,2016 11:20 AM     english.gov.cn/People’s Daily

Data released by the State Administration of Taxation show that small and micro businesses enjoyed about 100 billion yuan ($15.2 billion) in tax breaks in 2015, thanks to preferable tax policies.

In recent years, tax policies to support the development of small and micro businesses have been expanding.

The tax exemption threshold for monthly sales or business volume of small and micro businesses was raised to 30,000 yuan, up from the 20,000 yuan previously.

In addition, the tax reduction threshold, which cuts half of taxes for less profitable small and micro businesses, was raised from 30,000 yuan to 300,000 yuan .

Meanwhile, preferable tax policies for technology innovation are being implemented, too.

In 2015, tax breaks for 31,000 high-tech enterprises reached more than 100 billion yuan; reduction for software and integrated circuit enterprises amounted to more than 30 billion yuan.

Tax breaks for accelerated depreciation of fixed assets and transformation of scientific and technological achievements reached 10 billion yuan and 7.2 billion yuan, respectively.

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