The finance ministry said it would extend a value-added tax (VAT) cut for small taxpayers for an additional four years until the end of 2027, according to a statement.
The ministry would exempt value-added tax for small taxpayers with less than 100,000 yuan ($13,921.95) in monthly sales and cut the rate on taxable sales revenues to 1% for those normally eligible for a 3% rate, the statement said.
Source: reuters.com
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