1. All college graduates who are engaged in self-employment are exempted from paying the tax registration certificate fee (i.e. tax exemption) within 1 year from the date when the local industrial and commercial department approves their operation.
2. Newly established urban labor and employment service enterprises (except national industries), where the unemployed (including college graduates who have registered for unemployment, the same below) exceed 60% of the total number of employees of the enterprise, they may be exempted from income tax for 3 years with the approval of the relevant competent tax authorities. After the expiration of the tax exemption period for labor employment service enterprises, if the newly placed unemployed persons account for more than 30% of the total number of original employees of the enterprise in that year, the income tax may be halved for 2 years with the approval of the relevant competent tax authorities.
In addition, different industries have different preferential tax policies:
1. Enterprises or business units that newly start consulting, information and technical services for college graduates may be exempted from enterprise income tax for two years upon their application and approval by the tax authorities.
2, college graduates set up new business enterprises or business units engaged in transportation, post and telecommunications, after the application, approved by the tax authorities, the first year shall be exempted from enterprise income tax, and the second year shall be halved.
3. Newly-established enterprises or business units engaged in public utilities, commerce, materials industry, foreign trade industry, tourism, logistics industry, warehousing industry, residential service industry, catering industry, educational and cultural undertakings and health undertakings may be exempted from enterprise income tax for one year upon their application and approval by the tax authorities.
Legal basis:
Enterprise income tax law
Article 28 The enterprise income tax shall be levied at a reduced rate of 20% for qualified small-scale enterprises with low profits.
Article 54 Enterprise income tax shall be paid in advance in monthly or quarterly installments.
An enterprise shall, within 15 days after the end of the month or quarter, submit a tax return for prepaying enterprise income tax to the tax authorities and pay taxes in advance.
The enterprise shall, within five months after the end of the year, submit the annual enterprise income tax return to the tax authorities for final settlement and settlement of the tax refund.
When an enterprise submits an enterprise income tax return, it shall attach financial and accounting reports and other relevant materials in accordance with the regulations.
Article 55 Where an enterprise terminates its business activities in the middle of a year, it shall, within 60 days from the actual date of termination, handle the final settlement of enterprise income tax for the current period with the tax authorities.
Before going through the cancellation of registration, an enterprise shall declare its liquidation income to the tax authorities and pay enterprise income tax according to law.