What Are the Different Types of LLC Tax Deductions?

Corporate tax relief refers to the state's tax incentives to encourage and take care of certain taxpayers or taxpayers, reduce their tax bases, or reduce part of their taxes or exempt them from all taxes.

Corporate tax relief

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Corporate tax relief refers to the state's tax incentives to encourage and take care of certain taxpayers or taxpayers, reduce their tax bases, or reduce part of their taxes or exempt them from all taxes.

Corporate tax deductions include tax-based deductions, tax rate deductions, and tax deductions. That is, the difference between the taxable amount calculated by the taxpayer at the statutory basic tax rate and the taxable amount after enjoying the preferential tax policy.

Corporate tax reduction and exemption

Refers to tax deductions in the form of narrowing tax bases, such as raising the threshold, but this census of tax reductions does not include pre-tax deductions for income taxes.

"Tax rate deductions" refer to tax deductions in the form of reduced tax rates, including reduction of taxation at low tax rates and implementation of zero tax rates.

Corporate tax deductions

Refers to tax deductions in the form of direct tax deductions, including full exemptions, half reductions, stipulation of reduction rates, and approved tax reductions.

"Statutory Basic Tax Rate"

Refers to tax laws enacted by the National People's Congress, regulations formulated by the State Council or provincial People's Congress, and tax rates determined by documents from the Ministry of Finance and the State Administration of Taxation. For example, the basic VAT tax rate includes 17% applicable to general taxpayers and some designated goods 13% applicable, 6% applicable to industrial small-scale taxpayers, 4% applicable to commercial small-scale taxpayers; basic income tax rates for corporate income tax and foreign-invested enterprises and foreign enterprises are 33%; withholding tax rates are 20%. and many more.