Ministry of Finance: The part of employee education expenses lower than 8% of total wages can be deducted before tax.


Time:

2018-05-15

People's Daily Online, Beijing, May 11. The Ministry of Finance website yesterday issued the "Notice on the Pre-tax Deduction Policy for Enterprise Employees' Education Funds" to all provinces, autonomous regions, and municipalities directly under the Central Government. In order to encourage enterprises to increase investment in employee education, it was decided that the portion of the employee education expenditure incurred by the enterprise that does not exceed 8% of the total wages and salaries shall be allowed to be deducted when calculating the taxable income of the enterprise income tax. The notice will be implemented as of January 1, 2018.

People's Daily Online, Beijing, May 11. The Ministry of Finance website yesterday issued the "Notice on the Pre-tax Deduction Policy for Enterprise Employees' Education Funds" to all provinces, autonomous regions, and municipalities directly under the Central Government.

In order to encourage enterprises to increase investment in employee education, it is decided that the portion of employee education expenditures incurred by enterprises that does not exceed 8% of the total wages and salaries is allowed to be deducted when calculating the taxable income of enterprise income tax.

The Notice will be implemented from January 1, 2018.