日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

Tax, fee reductions in pipeline

By Chen Jia and Zhou Lanxu | China Daily | Updated: 2018-11-13 09:45
Share
Share - WeChat
An employee performs welding operations at a private company in Zibo, Shandong province. [Photo/Xinhua]

Finance minister says measures are to better promote healthy growth of the real economy

China will continue to reduce taxes and fees, maintaining fiscal expenditure at a relatively high level to back the private sector and stabilize economic growth, Finance Minister Liu Kun wrote in an article published on Monday.

"The Finance Ministry will continually study and implement tax cuts of a larger scale and more significant fee reduction for companies, to better promote the healthy development of the real economy," the minister said in the article in the newspaper Study Times, published by the Party School of the Communist Party of China Central Committee.

All the tax cut and fees reduction policies, planned since the beginning of this year, have been released, said Liu. "Together with a series of measures which debuted in the middle of the year, which aimed to boost the real economy, the whole year's tax and fee reductions are expected to be more than 1.3 trillion yuan ($186 billion)."

China has deepened value-added tax reform this year, including lowering VAT rates for the manufacturing industry and some agricultural products.

Tax policies encouraging innovation were also implemented, including making all enterprises eligible for a higher additional deduction rate of R&D expenditure, which used to apply only to some tech firms.

Tax and fee cuts of more than 1.3 trillion yuan could help the real economy to offset headwinds, while there is still "large room" for a reduction in taxes and fees for enterprises, said Liu Chunsheng, an associate professor at the Central University of Finance and Economics.

"Particularly, to further boost confidence, tax reduction measures that are easy for enterprises to understand and calculate the consequent reduction in costs should be rolled out, such as a decrease in tax rates and an expansion in the types of expenses qualified for deductions," Liu said.

In an interview with China Daily, Wang Jun, director of the State Taxation Administration, said the further measures will focus on VAT and individual income tax reform, in order to stabilize private enterprises' investment and fuel consumption

The plan should be straightforward to implement, and would benefit a broader group of individuals and businesses, said Wang.

Once introduced, the policy would further cut corporations' tax bills, especially for tech startups, and small and microenterprises, he added.

The minister's article also pledged to establish a national financing collateral fund and use it to help 150,000 small businesses get loans of 140 billion yuan per year.

"This new fund could provide financial institutions with high-quality collateral when granting small businesses credits in the short term," said Tang Yao, an associate professor with Guanghua School of Management at Peking University.

To resolve the financing difficulties facing small businesses in the long term, the fund could stipulate that for a small business to get collateral support, it must use fintech software for daily-basis accounting and tax collection, Tang said.

This could improve small businesses' transparency and compliance with regulations, therefore enhancing their access to external financing, he said.

Data from the ministry indicated that in the first nine months, China's total fiscal expenditure was 16.33 trillion yuan, accounting for 77.8 percent of the annual budget. Around 92 percent of the local government bonds' annual issuance quota has been taken up by the end of September. And it was 92.4 percent for the issuance of special-purposed local government bonds.

In order to support expenditure on local infrastructure construction, the central government has invested 409.4 billion yuan in the first three quarters, or 94.2 percent of the annual budget, mainly supporting projects in the fields of innovation and environmental protection, said the article.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 亚洲国产精品久久 | 嫩草影院在线观看网站成人 | 亚洲第一黄色网 | 国产精品美女久久久久aⅴ国产馆 | 亚洲国产成人精品女人久久久 | 91麻豆精品国产91久久久久久 | 中文字幕专区 | 欧美成人做性视频在线播放 | 锵锵锵锵锵锵锵锵锵好湿好大 | 欧美成人在线影院 | 国产成人精品影院狼色在线 | 天天影院免费看电影 | 精品亚洲欧美高清不卡高清 | 色婷婷综合网 | 久久久久久久久国产 | 日韩一级视频 | 国产美女极品免费视频 | 91 在线| 一级做a爱片久久 | 亚洲日韩中文字幕 | 成人日韩在线观看 | 亚洲精品久久久一区二区三区 | 日本玖玖 | 国产精品爱啪在线线免费观看 | 国产精品极品美女在线观看免费 | 久久www免费人成精品 | 国产视频网站在线观看 | 一区二区三区在线免费看 | 午夜寂寞影视在线观看 | 欧美日韩大尺码免费专区 | 国产成人精品美女在线 | 日本黄色免费片 | 亚洲综合色站 | 狠狠色噜噜狠狠狠狠黑人 | 国产成人精品在线观看 | 亚洲欧美v视色一区二区 | 国内精品视频区在线2021 | 免费国产午夜在线观看 | 亚洲一区二区免费 | 天天做天天爱夜夜大爽完整 | 日本精品人妻无码免费大全 |