The government has decided to further ease the tax burden for small firms, which play an important role in providing employment, the State Council, China's cabinet, said in an executive meeting on Wednesday.
The business income tax for firms with annual taxable income of no more than 300,000 yuan ($46,920) will be halved from October 1 to the end of 2017, compared with the previous threshold of 200,000 yuan, it said.
