More Than 100 SME Credit Guarantee Agencies Are Exempt From Business Tax.

In January 21st, the Ministry of industry and information technology announced compliance with exemption.

In accordance with the opinions of the State Council on further promoting the development of small and medium-sized enterprises (Guo Fa [2009]36) and the Ministry of industry and information technology, and the State Administration of Taxation on the issue of business tax exemption from small and medium-sized enterprises credit guarantee institutions (the Ministry of industry and Commerce [2009]114), the management departments and provincial level of small and medium-sized enterprises in provinces, autonomous regions and municipalities are required.

According to the notice issued by the Ministry of industry and the State Administration of Taxation on the issue of exemption from business tax for small and medium enterprises credit guarantee institutions, the income earned by these 141 guarantee agencies in the credit guarantee or re guarantee business of small and medium-sized enterprises (excluding credit rating, consulting, training and other income) is exempt from business tax within three years, and the time for tax exemption is calculated from the date of tax exemption formalities issued by the guaranty institution to the competent tax authorities.

It is understood that the Ministry of industry and information technology and the State Administration of Taxation will give seven small and medium-sized enterprises credit guarantee institutions in three batches of preferential tax policies for business tax reduction in 233 batches. Last year, 77 SME credit guarantee agencies were supported.

In addition, the central government has arranged 1 billion yuan guarantee fund for small and medium enterprises this year, and subsidized small and medium enterprises loan guarantee business for 663 guarantee agencies, with low premium income to grant subsidies, so as to better support and guide SME credit guarantee institutions to provide loan guarantee and financing services for small and medium-sized enterprises, especially small businesses, and alleviate the financing difficulties of SMEs.