Announcement of the the Ministry of Finance and the State Administration of Taxation on Value-added Tax Policy Supporting the Reinstatement Work of Small Household Businesses.

In order to support the small household business in the prevention and control of the new crown pneumonia epidemic and to speed up work and resume business, the Ministry of Finance and the State Administration of Taxation issue a special policy that: From March 1, 2020 to May 31, 2020, small taxpayers in Hubei province will be exempted from VAT if their tax rate is set at 3 percent. Small taxpayers in other regions will pay a lower tax rate of 1 percent on taxable sales revenue if their VAT rate is set at 3 percent.