![]() |
Small Businesses Allowed to Defer 2020 Income Tax Payment
15 June 2020
The State Taxation Administration recently issued an announcement (No. 10 [2020]) on extending due dates for 2020 income tax payments from small, low-profit enterprises and individually-owned businesses.
- Small, low-profit enterprises
Between 1 May 2020 and 31 December 2020, any small, low-profit enterprise may, after completing its pre-paid tax declaration for the remainder of 2020, temporarily defer payment until the first reporting period of 2021.
- Individually-owned businesses
Between 1 May 2020 and 31 December 2020, any individually-owned business may, after completing its declaration of business income for the remainder of 2020, temporarily defer payment until the first reporting period in 2021.
The announcement took effect on 1 May 2020.
Source: State Taxation Administration
- Mainland China
- Mainland China
- Mainland China
- Mainland China