BEIJING, March 27 (Reuters) - China's finance ministry
on Monday issued preferential tax policy for small firms and
household businesses.
China will levy a 20% income tax for small firms with annual
sales not exceeding 1 million yuan ($145,340.39), the ministry
said in a notice.
It will also halve personal income tax for household
businesses with annual sales not exceeding 1 million yuan.
($1 = 6.8804 Chinese yuan renminbi)
(Reporting by Kevin Yao and Ella Cao
Editing by Bernadette Baum)
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