China's Ministry of Finance and State Administration of Taxation have issued Notice 13/2019, which prescribes the additional tax relief for small businesses and changes for the investment incentive in start-ups approved by the State Council on 9 January 2019. The key points are summarized as follows:
- For small-scale businesses with monthly sales up to CNY 100,000, a VAT exemption applies;
- For small low-profit businesses with annual taxable income up to CNY 1 million, only 25% of taxable inc…