Tax China Newsletter - June / July 2018
China -
This issuance of Tax China Newsletter mainly includes:
- Issuance of the Administrative Measures for Vouchers for Deduction in the Calculation of Enterprise Income Tax, clarifying and summarizing former policies
- Clarify issues concerning the first-time application for value-added tax invoices by newly established taxpayers
- The enterprise income tax of small and low-profit enterprises with an annual taxable income not exceeding CNY 1 million eligible for a preferential tax rate of 20% is halved, effective from January 1, 2018 to December 31, 2020
- Extend the length of years for high and new technology enterprises and technology-oriented small and medium-sized enterprises to carry forward their tax losses from five years to ten years
- Refund uncredited value-added tax for some industries in 2018
- Clarify relevant super deduction policy on expenses for overseas research and development commissioned by enterprises
Contacts
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