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[Policy] Major Adjustment Policy on Small-scale Taxpayers of VAT

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Key points of the policy

 Major Adjustment Policy on Small-scale Taxpayers of VAT

1. The standard of small-scale taxpayer refers to the ones whose annual VAT sales amount is RMB 5 million Yuan and below.

2. The enterprises and individuals of the general taxpayer may be registered as small-scale taxpayers before December 31, 2018, whose un-deducted input tax shall be transferred for processing.

3. Execution time: From May 1,2018

Notice on the standard of unified VAT small-scale taxpayers

The notice of Fiscal and taxation [2018] No. 33.

All provinces, autonomous regions,municipalities, plan the municipal finance department(bureau), state administration of taxation, local taxation bureau , production and construction corps finance bureau in Sinkiang.

In order to perfect the value-added taxation system and further support the development of medium, small and micro-sized enterprises, we hereby give this notice on a unified standard defining a small-scale VAT taxpayer as bellow:

1. A small-scale VAT taxpayer means the taxpayer that has an annual sales with VAT taxable of CNY 5 million Yuan or below.

2. Any entity or individual that was registered as a general VAT taxpayer under the provision of Article 28, Detailed Rule for the Implementation of the Provisional Regulation of the People's Republic of China on Value-Added Tax, may apply for being registered as a small-scale VAT taxpayer prior to December 31, 2018. And the amount of input tax thereof that has not been deducted shall be transferred out.

3.This notice will take execution from May 1,2018

Treasury Administration of Taxation

April 4,2018

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