Q:
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How to know enterprises are eligible to defer payment of enterprises income tax for the year 2020?
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A:
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Enterprises can apply for the extension of income tax payment while they meet the conditions of small and low-profit enterprises.
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Q:
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What’s the criteria of small and low-profit enterprises?
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A:
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The small and low-profit enterprises refer to the enterprises engaged in non-restrictive and non-prohibited industries, which meet 3 conditions stipulated in the Announcement of the State Administration of Taxation on the Issues Concerning the Implementation of the Policy for the Reduction of the Income Tax Relief Policy for Small and Low-profit Enterprises (No. 2 of 2019), the 3 conditions are:-
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annual taxable income is no more than CNY3,000,000
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employees are no more than 300 persons
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total assets are no more than CNY50,000,000
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Q:
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How to apply for extension payment of enterprises income tax for the small and low-profit enterprises? Do they need to complete tax filing as normal?
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A:
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The small and low-profit enterprises can enjoy the deferred tax payment policy by calculating enterprise income tax and filling it in the relevant lines in the tax return after they choose to defer the income tax payment.
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Q:
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If enterprises have enjoyed the preferential policy for small and low-profit enterprises, are they able to apply for the income tax payment extension?
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A:
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The small and low-profit enterprises can enjoy both the income tax relief policy for small and low-profit enterprises and deferred income tax payment policy at the same time.
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Q:
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When will enterprises be required to pay the income tax, if they choose to defer the tax payment?
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A:
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The small and low-profit enterprises shall complete the tax filling and suspend the income tax payment for the remaining declaration period in 2020, then pay income tax of 2020 in the first tax declaration period of 2021.
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FAQ
