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Tax benefits to boost real economy
 
2017-11-07

Agriculture sector, small businesses will receive preferential treatment


Tax incentives will be expanded in China to reduce costs for agriculture-related and small-scale businesses, encouraging bank lending to support real economy development, according to a joint announcement on Monday by the Ministry of Finance and the State Administration of Taxation.


Small and micro-sized enterprises, with monthly sales of 20,000 to 30,000 yuan ($3,050-$4,575), will be exempted from value-added tax from the beginning of next year until the end of 2020, the announcement said.

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