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 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
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

Topic |   Two Sessions 2021 (Lianghui)
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 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
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
READ FULL ARTICLE