China News Service, May 29th. The State Administration of Taxation website issued an announcement on the 29th that from May 1, 2020 to December 31, 2020, small meager enterprises and individual industrial and commercial households will apply for prepayment in accordance with the regulations in the remaining reporting period of 2020. After the declaration and tax declaration of personal income tax operating income, the enterprise income tax and personal income tax of the current period can be temporarily suspended, and delayed to be paid together in the first reporting period in 2021.
The full text of the “Announcement on Matters Relating to the Delay in Payment of 2020 Income Tax for Small Meager Profit Enterprises and Individual Industrial and Commercial Households” released as follows:
1. Small and low-profit corporate income tax deferred payment policy
From May 1, 2020 to December 31, 2020, small profit-making enterprises may postpone the payment of corporate income tax for the current period after completing the prepayment declaration in accordance with the regulations in the remaining declaration period of 2020, and postpone it to the first declaration period in 2021. Pay. In the prepayment declaration, the small profit-making enterprises can enjoy the deferred tax payment policy for small profit-making enterprises by filling in the relevant lines of the prepayment tax return.
The small meager enterprises mentioned in this announcement refer to the enterprises that meet the conditions stipulated in the Announcement of the State Administration of Taxation on Relevant Issues Concerning the Implementation of the Inclusive Income Tax Relief Policy for Small Mere Enterprises (2019 No. 2)
2. The Delayed Payment Policy for Individual Business Income Tax
From May 1, 2020 to December 31, 2020, individual industrial and commercial households can suspend the payment of personal income tax for the current period after completing the tax declaration of personal income tax business income in the remaining reporting period of 2020, and delay it until the first reporting period in 2021. Pay together. Among them, individual industrial and commercial households implement simple declaration, from May 1, 2020 to December 31, 2020, personal income tax will not be deducted temporarily, and will be deferred until the first reporting period in 2021.
This announcement will take effect on May 1, 2020. Taxpayers who have paid tax deferred in accordance with the provisions of this announcement from May 1 to the issuance of this announcement may apply for a refund and pay them together until the first reporting period in 2021.