Cost Cutting
Sectors dedicated to technological innovation or key industrial chains will enjoy personalized tax and fee cuts, alongside a further optimization of current favorable tax policies, according to a circular issued on June 13 by four departments, including the National Development and Reform Commission.
By the end of this year, small-scale taxpayers with monthly sales of less than 100,000 yuan ($13,969) will be exempted from value-added tax, it said.
While seeking to lower loan interest rates, the country will also continue to increase loans to small and micro firms, according to the document.
To alleviate firms’ labor burdens, the
