SMEs

China will exempt small businesses with monthly sales of RMB 100,000 or less, as well as taxpayers in specific industries such as lifestyle services, from value-added tax (VAT) throughout 2023. Kristina Koehler-Coluccia, Head of Business Advisory at Woodburn Accountants & Advisors, explains more The VAT incentives are meant to help vulnerable businesses overcome the difficulties of the Covid-19 pandemic and represent an extension of previous policies. A wide range of …

The current global economic slowdown has Chinese manufacturers worried about the future. However, this situation has motivated many Chinese factories to look into doing a joint venture with a foreign company for the first time, writes Kristina Koehler-Coluccia, Head of Business Advisory at Woodburn Accountants and Advisors Disruption creates difficulties, but it also creates opportunities. Post Covid-19, investors have an opportunity to benefit from a first-mover advantage in this new world, …

A raft of tax reforms has made it easier for China’s micro- and small-sized companies, writes Lily Li In January, China’s State Council, chaired by Premier Li Keqiang, announced support for the country’s main job creators, micro- and small-sized enterprises (MSEs), in the form of tax cuts to both Value Added Tax (VAT) and Corporate Income Tax (CIT). MSEs are defined as businesses with less than RMB three million in …