Extension!The Tax Filling Deadline in March Changes to March 23

Extension!The Tax Filling Deadline in March Changes to March 23

 

 

 

 

Abstract

2020/3/5

 

 

 

China’s State Taxation Administration (STA) has decided to extend the deadline for tax filing in March by one week, from March 16, 2020 to March 23, 2020, nationwide.

Besides, for regions still in the top-level response to the epidemic prevention and control on March 23, the tax filing deadline can be further extended, as determined by the provincial tax bureau, in accordance with the law and regulations.

Taxpayers who still have difficulty in meeting the new deadline due to the severe impact of the epidemic can apply to the tax authorities for further extensions.

To ease businesses’ tax compliance burdens under the COVID-19 outbreak, previously, the STA extended the tax filing deadline in February twice. According to the STA, tax filings for February have been completed in all regions of China except Hubei Province.

To support small and micro firms, recently, the STA also rolled out preferential tax policies for small taxpayers. According to the STA Announcement [2020] No.13 released on February 28, from March 1, 2020 to May 31, 2020, small taxpayers in Hubei province can be exempted from value-added tax (VAT) rate of 3 percent. During this period, small taxpayers outside Hubei province can pay a lower VAT rate of one percent instead of 3 percent.

 

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