Small and micro-sized companies in China are seeing their corporate income tax cut by half.
Chinese tax authorities have announced companies with annual incomes of less than 200-thousand yuan are going to see their rates cut down to 10-percent.
The tax assessments will be based on the value of the company's assets and the number of employees they have.
Liu Lijian is with the State Administration of Taxation.
"The government has adjusted the tax standards four times in five years since 2010. This has cut the taxes for around half of all small and micro-sized companies. This eases the tax burden on companies whose annual income is less than 30-thousand yuan to 200-thousand yuan. This shows our government is increasing support for small and micro-sized companies."
The reduction of the tax burden for small and micro-sized companies will run until the end of 2017.
