During a meeting of China's State Council on 25 February 2015, the decision was made to increase the taxable income threshold for small business tax relief from RMB 100,000 to RMB 200,000 with effect from 1 January 2015. Businesses with taxable income not exceeding the threshold are eligible to be taxed on 50% of their taxable income. The 50% relief can also be used in conjunction with China's …