Small And Micro Businesses And Individual Businesses Can Detract 2020 Income Tax.

In May 29th, the reporter learned from the State Administration of taxation that, in order to further support small and small businesses and individual businesses to resume production, ease the pressure on their production and operation funds and stimulate the vitality of the market participants, the State Administration of Taxation issued a notice to make clear that small and small enterprises and individual industrial and commercial households are delaying the payment of income tax matters in 2020.

The notice is clear that from May 1, 2020 to December 31, 2020, small and small profit enterprises can suspend the payment of the current corporate income tax after the application for advance declaration in 2020, and postpone the payment to the first reporting period in 2021. When making advance declaration, small and small profit enterprises can enjoy the small profit tax policy of delaying payment by completing the relevant tax returns.

In addition, the announcement made it clear that from May 1, 2020 to December 31, 2020, the individual industrial and commercial households in 2020 should continue to pay the personal income tax for the current period, and postponed the payment to the first declaration period in 2021 after the remaining reporting period in 2020. It is reported that this notice will come into force on May 1, 2020. Before the issuance of the notice from May 1st to this year, the taxpayer has paid the tax payable in accordance with the provisions of this notice, and may apply for refund, and shall pay within the first reporting period of 2021.