China Clarifies Thresholds for Exemptions from Certain Government Funds Charges

On 23 December 2014, China's Ministry of Finance and State Administration of Taxation issued Circular 2014 no. 122 which clarifies the thresholds for exemptions from certain government funds charges.

Exemption from education surcharges, local education surcharges, water conservancy construction charges and cultural development fees is provided for enterprises with monthly revenue not exceeding CNY 30,000, or quarterly revenue not exceeding CNY 90,000. The exemption applies from 1 January 20…