Interpretation of tax policies in 2022

1. Small-scale taxpayer VAT is levied from 3% to 1% (continuation)
2. Small-scale low-profit enterprises which has below or 1 million profit, income tax rate is 2.5% (until the end of 2022)
3. Small-scale taxpayer which quarterly VAT is below or 450,000 RMB is exempt from tax (until the end of 2022)
4. Small-scale taxpayer who issues invoices exceeding 5 million yuan for 12 consecutive months will be compulsory promoted to general taxpayers
5. Individual tax incentives for one-time annual bonuses is extended to the end of 2023
6. The period for making up for losses under corporate income tax is 5 years