{"id":4998,"date":"2021-11-08T18:51:57","date_gmt":"2021-11-08T18:51:57","guid":{"rendered":"https:\/\/www.elitestage.cn\/?p=4998"},"modified":"2023-03-29T11:37:22","modified_gmt":"2023-03-29T11:37:22","slug":"chinas-new-tax-deferment-measures-and-extension-of-tax-break","status":"publish","type":"post","link":"https:\/\/www.elitestage.cn\/ja\/chinas-new-tax-deferment-measures-and-extension-of-tax-break\/","title":{"rendered":"China’s New Tax Deferment Measures and Extension of Tax Break"},"content":{"rendered":"

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Tax deferment measures for manufacturers, individual businesses, unincorporated firms.<\/strong><\/section>\n<\/section>\n<\/section>\n<\/section>\n
According to the executive meeting, the following taxes for the fourth quarter of this year can be deferred:\u00a0<\/strong><\/section>\n
<\/section>\n
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\u00a01.\u00a0 Corporate income tax\u00a0 CIT ,\u00a0domestic value-added tax\u2002VAT, domestic consumption tax, and\u00a0urban construction and maintenance tax paid by micro, small and medium-sized enterprises MSMEs\u00a0in the manufacturing sector;\u00a0<\/strong><\/section>\n
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\u00a02. Individual income tax\u00a0 IIT\u00a0 paid by individual businesses, sole proprietorship, and partnership enterprises excluding withholding income tax.<\/section>\n
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\"\"\u00a0<\/p>\n
Small and micro enterprises<\/strong>\u00a0in the manufacturing sector (including individual businesses) whose annual sales revenue is\u00a0less than<\/strong>\u00a0RMB 20 million<\/strong>\u00a0can defer payments on all taxes for the fourth quarter.Medium-sized<\/strong>\u00a0manufacturing enterprises with annual sales revenue\u00a0between RMB 20 million to RMB 400 million<\/strong>\u00a0can have\u00a050 percent<\/strong>\u00a0of their taxes deferred for the period. However, those with special difficulties can apply to the government for full tax delay.<\/section>\n
<\/section>\n
The tax reprieve will take effect on\u00a0November 1, 2021<\/strong>.\u00a0Enterprises are allowed to defer the tax payment for up to three months.The measure is expected to result in deferred tax payment of RMB 200 billion for manufacturing MSMEs by the end of the application period\u00a0in January next year<\/strong>, according to the State Council.\"\"\u00a0<\/p>\n
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Extension of a tax break for overseas institutional investors<\/strong><\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n<\/section>\n
<\/section>\n
In addition, the meeting also decided to extend the period for exempting CIT and VAT on bond interest income earned by overseas institutional investors investing in the domestic bond market to\u00a0December 31, 2025<\/strong>. The exemption, launched in 2018, was originally scheduled to expire in early November.Following the executive meeting of the State Council, the specific policy on the tax deferment measures is expected to be announced by the State Tax Administration (STA) soon, which enterprises can pay attention to.\u00a0<\/section>\n<\/section>\n<\/section>","protected":false},"excerpt":{"rendered":"

  Tax deferment measures for manufacturers, individual businesses, unincorporated firms. According to the executive meeting, the following taxes for the fourth quarter of this year can be deferred:\u00a0 \u00a01.\u00a0 Corporate income tax\u00a0 CIT ,\u00a0domestic value-added...<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[],"class_list":["post-4998","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"\nChina's New Tax Deferment Measures and Extension of Tax Break - elitestage.cn<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.elitestage.cn\/ja\/chinas-new-tax-deferment-measures-and-extension-of-tax-break\/\" \/>\n<meta property=\"og:locale\" content=\"ja_JP\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China's New Tax Deferment Measures and Extension of Tax Break - elitestage.cn\" \/>\n<meta property=\"og:description\" content=\"  Tax deferment measures for manufacturers, individual businesses, unincorporated firms. According to the executive meeting, the following taxes for the fourth quarter of this year can be deferred:\u00a0 \u00a01.\u00a0 Corporate income tax\u00a0 CIT ,\u00a0domestic value-added tax\u2002VAT, domestic consumption tax, and\u00a0urban construction and maintenance tax paid by micro, small and medium-sized enterprises MSMEs\u00a0in the manufacturing sector;\u00a0 \u00a02. 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