(MENAFN) China's cabinet, the State Council, decided to extend tax breaks for the small and micro companies till the end of 2016, Xinhuanet reported
The cabinet also considered to raise the tax threshold significantly above the current level of USD9,726
In 2011, the cabinet announced that a firm with yearly taxable income under USD10,000 will have its business income tax halved during 2012-2015.
Officials also said during the cabinet meeting that China will enhance macro-control in 2014 with measures to stimulate enterprises, expand domestic consumption and boost employment
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