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VAT Exemption for Small Businesses Extended Until December 2020

The current VAT exemption enjoyed by businesses with monthly turnover of between RMB20,000 and RMB30,000 has been extended until 31 December 2020. The extension was announced in a joint circular issued by the Ministry of Finance and the General Administration of Taxation,

For further details (in Chinese), please refer to the following link:

Circular on Continuing the Value-Added Tax Policy for Small and Micro Enterprises (Cai Shui No. 76 [2017])

Content provided by Picture: HKTDC Research
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