Announcement on Tax and Fee Policies to Further Support the Development of Small Enterprises and Individual Business Owners (Announcement No. 12 of 2023 by the Ministry of Finance, State Taxation Administration)
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The number of employees includes the number of workers who have entered into labor relations with the company and the number of dispatched workers accepted by the company. The criteria for the number of employees and total assets are determined based on the quarterly average over the company's entire year.
The specific calculation formula is as follows:
Quarterly average = (Beginning of quarter + End of quarter) ÷ 2
Annual quarterly average = Total of annual quarterly averages ÷ 4
If a company starts or ends its business activities during the fiscal year, the actual business period will be considered the taxable year for determining the above-related criteria.
The determination of small enterprises is based on the results of the final tax return. Newly established companies that are registered as general taxpayers for value-added tax, engage in industries not restricted or prohibited by the state, and simultaneously meet the two conditions of having 300 employees or fewer and total assets of 50 million yuan or less as of the end of the month prior to the reporting period can declare themselves as small enterprises before their first final tax return, thereby enjoying the preferential policies stipulated in Article 2.
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