BEIJING, Feb. 22 (Xinhua) -- Tax breaks for small and micro-sized businesses in China amounted 61.2 billion yuan (10 billion U.S. dollars) in 2014, the State Administration of Taxation (SAT) revealed.
Business income tax of 10.1 billion yuan was reduced or scrapped from 2.46 million small and micro businesses, as companies with annual taxable business income below 100,000 yuan were eligible to a 50 percent reduction.
Value added tax and turnover tax cuts were worth more than 51.1 billion yuan from 22 million small and micro businesses through a temporary suspension for certain small firms from Aug. 1, 2013, to Sept. 30, 2014, according to SAT.
China has expanded preferential tax policies for small companies and reduced their tax burden to boost economic growth and employment. Nearly 80 percent of urban jobs are provided by small companies.
PLA soldiers operating vehicle-mounted guns in drill
Beauties dancing on the rings
Blind carpenter in E China's Jiangxi
Top 10 highest-paid sports teams in the world
In photos: China's WZ-10 armed helicopters
UFO spotted in several places in China
Certificates of land title of Qing Dynasty and Republic of China 
Cute young Taoist priest in Beijing
New film brings Doraemon's life story to China in 3D
Obama is sowing discontent in S.China Sea
Rescuers work through night to reach cruise ship survivors
Driving through limbo
Facing down MERSDay|Week
