Notice of the State Administration of Taxation of the Ministry of Finance on the policy of reducing

  Notice of the State Administration of Taxation of the Ministry of Finance No. 19, 2023. 2023-8-1

In order to further support the development of small and micro enterprises and individual industrial and commercial households, the announcement of the value-added tax reduction and exemption policy for small-scale taxpayers is as follows:

1. Small-scale VAT taxpayers with monthly sales of less than 100,000 yuan (including this amount) are exempted from VAT.

For small-scale VAT taxpayers, VAT shall be levied at a reduced rate of 1% on the taxable sales income of 3%; For VAT pre-paid items with 3% pre-levy rate, VAT pre-paid at 1% pre-levy rate will be reduced.

Iii. This Announcement shall be implemented until December 31, 2027.

This is to announce.

Ministry of Finance Administration of Taxation

August 1, 2023