On June 6th, the State Administration of Taxation unveiled the 2024 “Spring Rain Nurtures Seedlings” action plan on its website, detailing 12 key measures aimed at supporting the development of small and micro-business entities, particularly in the sectors of technology innovation and manufacturing.
The initiative focuses on enhancing comprehensive policy guidance throughout the entire lifecycle of these businesses. This includes bolstering support for structural tax reductions and fee reductions to continuously enhance their core competitiveness. Special attention is directed towards small cross-border enterprises, addressing critical points such as tax declarations, changes in business types, operational model adjustments, and shifts in trade methods.
Tailored measures are designed based on the specific needs of businesses at different growth stages, encompassing policy implementation, system operations, risk management, and problem resolution. The initiative emphasizes ongoing monitoring and implementation to ensure effective service delivery.
By providing targeted assistance and refining policies to meet evolving business demands, China aims to create a conducive environment for small and micro-enterprises in key sectors. This strategic approach not only supports immediate operational needs but also aims to foster sustainable growth and resilience in the competitive global market landscape.