Announcement of the Ministry of Finance and the State Administration of Taxation on Implementing Preferential Income Tax Policies for Small and Micro Enterprises and Individual Businesses

This document extends and enhances income tax relief for small and micro enterprises and individual businesses, halving corporate income tax for eligible small enterprises and halving individual income tax for individual businesses on annual taxable income up to 1 million yuan, effective from January 1, 2021 to December 31, 2022.