Continue to implement the institutional tax reduction policy, extend the implementation period of some phased policies such as value-added tax concessions for small-scale taxpayers, and implement new structural tax reduction measures to hedge the impact of some policy adjustments.

Raise the VAT threshold for small-scale taxpayers from 100,000 yuan to 150,000 yuan per month.

For small and micro enterprises and individual industrial and commercial households whose annual taxable income is less than 1 million yuan, on the basis of the current preferential policies, the income tax will be halved.