tax deduction

New Deduction Rules for Social Insurance

Starting 1 July 2017, a pilot program that exempts the premium paid for qualified commercial health insurance from taxable income will be implemented nationally. This program has already been implemented in 31 cities, including Beijing, Shanghai, an...

China introduces tax deductions for charity donations

At the 24th February the National People’s Congress (NPC) of China decided to keep the corporate income tax rate at 25%. Instead of the expected reduction of the corporate tax rate the NPC increases the deductible amount for charitable contributions...

Tax exemption now available for companies with annual revenue of up to 200,000 RMB!

Always paying too much taxes? China has raised the upper limit of tax exemption for small companies from 100,000 to 200,000 RMB total annual revenue. Notice on Implementing Preferential Tax Treatment of Small- and Medium-Sized Companies (SAT Notice ...