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According to the "Enterprise Income Tax Law of the People's Republic of China", the general corporate income tax rate is 25%, but it stipulates that small and meager profit-making enterprises that meet the conditions are levied at a rate of 20%.
According to the notice, small-scale and low-profit enterprises that enjoy preferential treatment refer to small-scale and low-profit enterprises that comply with the "Enterprise Income Tax Law of the People's Republic of China" and its implementation regulations and relevant tax policies. The tax law explains two kinds of small-profit enterprises: industrial enterprises, the annual taxable income does not exceed 300,000 yuan, the number of employees does not exceed 100, the total assets do not exceed 30 million yuan; other enterprises, the annual taxable income does not exceed 300,000 yuan, the number of employees does not exceed 80, and the total assets do not exceed 10 million yuan.
The small-scale and low-profit corporate income tax preferential policies formulated by the finance and taxation department were introduced in the context of the impact of the international financial crisis on China's economy and the difficulties encountered in the production and operation of small and medium-sized enterprises. In recent years, the fiscal and taxation departments have adopted a series of policy measures to help SMEs overcome difficulties, including the establishment of various special funds, the implementation of special tax incentives, and the clearance of administrative fees.
The Ministry of Finance and the State Administration of Taxation recently jointly issued the "Notice on Corporate Income Tax Policies for Small and Small Enterprises". From January 1 to December 31, the annual taxable income will be less than 30,000 yuan (including 30,000 yuan). Small-scale and low-profit enterprises, whose income is reduced by 50% into taxable income, shall be subject to corporate income tax at a rate of 20%.