The Ministry of Finance and the State Taxation of Administration recently released the Announcement about Value-added Tax Policies to Support Resumption of Production and Operation of Individual Household Businesses.
According to the announcement, from March 1, 2020 to May 31, 2020, small taxpayers in Hubei will be exempted from value-added tax if their tax rate is set at 3%. Small taxpayers in non-Hubei regions will pay a lower tax rate of 1% on taxable sales revenue if their value-added tax rate is set at 3%.