In order to further support the resumption of work and production of small and low-profit enterprises and individual industrial and commercial households, ease the pressure on their production and operation funds, and stimulate the vitality of market entities, the following matters concerning the delay in payment of income tax for small and low-profit enterprises and individual industrial and commercial households in 2020 are hereby announced:

1. The policy of delayed payment of income tax for small and low-profit enterprises

From May 1, 2020 to December 31, 2020, after small low-profit enterprises have completed the prepayment declaration in the remaining declaration period of 2020, they can postpone the payment of the current corporate income tax and postpone the payment until the 2021 declaration period. In the prepayment declaration, small low-profit enterprises can enjoy the deferred payment policy of small low-profit enterprise income tax by filling in the relevant lines of the prepayment tax return.

The term “small and low-profit enterprises” as mentioned in this announcement refers to enterprises that meet the requirements of the “Announcement of the State Administration of Taxation on Issues Concerning the Implementation of Inclusive Income Tax Reduction and Exemption Policies for Small and Low-profit Enterprises” (No. 2 of 2019).

2. The policy of delayed payment of income tax for individual industrial and commercial households

From May 1, 2020 to December 31, 2020, after individual industrial and commercial households have filed their personal income tax declarations for business income in the remaining declaration period of 2020, they can defer the current personal income tax payment until the first of the 2021 declaration period. And pay. Among them, individual industrial and commercial households that implement simple declarations will not be withheld personal income tax temporarily from May 1, 2020 to December 31, 2020, and will be deferred to the 2021 declaration period.

This announcement will come into effect on May 1, 2020. From May 1 to before the issuance of this announcement, taxpayers who have already paid the deferred tax payment in accordance with the provisions of this announcement may apply for a refund, which will be paid during the 2021 filing period.

Special announcement.

 

Source: State Administration of Taxation

May 19, 2020