As part of the support to China’s legions of small-scale taxpayers, including caterers, street vendors, travel agents and transport firms, the value-added tax (VAT) threshold will be raised from 100,000 yuan (US$15,400) to 150,000 yuan of monthly sales. Photo: AFP
China ‘two sessions’: help for coronavirus-hit small businesses likely to become more targeted, analysts say
- Small businesses in China generate most of the nation’s jobs, but they were the hardest hit by the economic impact from the coronavirus
- Last week, Premier Li Keqiang pledged to continue the broad business tax cuts enacted in the past two years while extending and adding other policies
As part of the support to China’s legions of small-scale taxpayers, including caterers, street vendors, travel agents and transport firms, the value-added tax (VAT) threshold will be raised from 100,000 yuan (US$15,400) to 150,000 yuan of monthly sales. Photo: AFP
