more chinese small firms to enjoy tax breaks
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

More Chinese small firms to enjoy tax breaks

Arab Today, arab today

Arab Today, arab today More Chinese small firms to enjoy tax breaks

Beijing - XINHUA

More small businesses in China will enjoy tax breaks as part of the government's efforts to address the pressure on economic growth, authorities said Tuesday. Any company with annual taxable income under 100,000 yuan (about 16,000 U.S. dollars) will have its business income tax halved starting from Jan. 1 this year till the end of 2016, said a joint statement of the Finance Ministry and the State Administration of Taxation (SAT) on Tuesday. This means the tax breaks apply to more small businesses. China's State Council decided in 2011 that any company with annual taxable income under 60,000 yuan will have its business income tax halved during 2012-2015. The news came after the cabinet announced last Wednesday to extend tax breaks for the small and micro firms by one year till the end of 2016. The move aims to promote economic growth and creates jobs, said the statement. Liu Shangxi, a Finance Ministry researcher, thinks of the move as an "important measure to accommodate the downward pressure on growth, maintain growth momentum and restructure the economy." Small and micro firms serve as the foundations for continuous and steady economy growth, said a latest report by SAT. By the end of 2013, there were about 11.7 million small and micro companies in China, accounting for 76.6 percent of the total number of firms in the country, the SAT report showed. Taking small family businesses into account, small companies accounted for 94.2 percent of the total number and created about 150 million jobs.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

more chinese small firms to enjoy tax breaks more chinese small firms to enjoy tax breaks

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

more chinese small firms to enjoy tax breaks more chinese small firms to enjoy tax breaks

 



GMT 12:48 2016 Sunday ,27 November

Cilic, Dodig push Croatia to brink of Davis Cup

GMT 05:24 2017 Thursday ,28 December

Erdogan says 'terrorist' Assad cannot be part of Syria

GMT 12:59 2016 Saturday ,05 November

WB welcomes economic reforms in Egypt

GMT 18:40 2016 Saturday ,05 November

Egyptian GDRs in London down

GMT 10:57 2017 Wednesday ,06 December

Peru striker Guerrero has doping ban extended

GMT 17:51 2017 Tuesday ,07 March

Trump Signs New Travel Ban on Six Muslim Countries

GMT 10:30 2017 Wednesday ,06 September

Saudi Information Ministry praises media role during Hajj

GMT 15:29 2017 Tuesday ,24 January

Mind games really do help your brain

GMT 06:55 2015 Thursday ,01 October

Boston Red Sox beat Yankees

GMT 08:17 2017 Monday ,28 August

Bahrain celebrates World Humanitarian Day 2017

GMT 02:07 2017 Tuesday ,28 February

Opposition seeks Russian support at Syria talks
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday