Tax cuts for small and micro businesses in Beijing Economic-technological Development Area hit new high at 3.71 million yuan in 2014, increasing 74 percent year-on-year, benefiting 1,171 taxpayers.

The development area beefed up tax breaks for small businesses to encourage the enterprises’ expansion and technical innovation.

The tax bureau informed enterprises in E-town about the tax preference through all channels including bulletin board, electromic display, banners and pamphlets.

“We have set up a green channel for small and micro businesses to apply for the favorable treatment,” an official with the tax bureau said.

The tax bureau will also track the beneficiaries to analyze the tax cut policy effect.