Question : What specific measures will be taken in this tax reform for the development of the small and medium size enterprise?

Answer :

The decrease in levy rate for small-scale taxpayer will lower the tax burden of the SME. That will provide for a more favorable environment for the development of the SME. In addition, the Ministry of Finance and State Administration of Taxation will further encourage the development and growth of the SME by raising the threshold for VAT and business tax.

Other FAQs:

1. What is the implication of the change in tax rules?

2. Is there any change in the scope of income tax?

3. What major significance does the reform of VAT transformation will have on the perfection of the VAT system?

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