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 / Finance

Total VAT cut expected to be over 900b yuan

By Yu Xiaoming | chinadaily.com.cn | Updated: 2019-03-20 11:15
Share
Share - WeChat
Tax and fee cuts will be nearly 2 trillion yuan this year, a key measure to cope with current economic downward pressure. [Photo/VCG]

As China plans to implement a new round of reduction of value-added tax rates starting from April 1, experts predicted the total VAT cut will surpass 900 billion yuan ($134.03 billion) this year, Shanghai Securities News reported.

According to this year's Government Work Report, the VAT rate for the manufacturing sector will be cut by three percentage points to 13 percent. For construction and related sectors, the VAT rate will be reduced by one percentage point to 9 percent.

VAT, a major type of corporate tax derived from sales of goods and services, is China's largest tax category, also one of important sources of tax revenue. Last year, China's VAT revenue totaled 6.15 trillion yuan, accounting for nearly 40 percent of the total.

If VAT rate is cut by one percentage point, it could reduce tax burden of enterprises of 41 million yuan, said Lu Tao, a financial official from Chinese machinery manufacturer Sany Corp.

China plans to reduce the tax burden and social insurance contributions of enterprises by nearly 2 trillion yuan this year, according to the report delivered on March 5. Meanwhile, the country has set this year's GDP growth target at 6 to 6.5 percent.

Assuming the growth of VAT synchronizes with that of GDP and given the median of GDP growth 6.25 percent, a total reduction of more than 900 billion yuan is expected to be achieved, Li Xuhong, a professor of the Beijing National Accounting Institute, told the newspaper.

On May 1, 2018, the VAT rate was lowered from 17 percent to 16 percent for manufacturing and some other industries, and from 11 percent to 10 percent for transportation, construction, basic telecommunication services and farm produce. This round of reduction of VAT rates has made the real economy such as manufacturing and construction industry benefit most.

As April 1 draws near, some automakers have announced plans to cut the prices of their models sold in China. For example, Jaguar Land Rover announced price cuts on Friday, with the prices of selected Range Rover models slashed by 85,000 yuan.

Research institutes predicted the new round of VAT reform will benefit several sectors. A researcher from TF Securities said the reduction of VAT rates will have positive influence on machinery equipment and chemical industry.

The sectors with low profit margin will have more obvious upside potential, another researcher from China Development Bank Securities added. For example, the profit growth of beer companies is expected to be 15-90 percent.

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: 日韩免费视频网站 | 在线成人免费视频 | 日韩网红少妇无码视频香港 | 又黄又爽的成人免费网站 | 美国一级毛片片aaa 香蕉视频在线观看免费 | 国产99久久亚洲综合精品 | 天堂中文在线最新版地址 | 九九有点热 | 丝袜美腿精品一区二区三 | 免费观看成人碰视频公开 | 一级特黄aa大片欧美 | 久久久伊人色综合A片无码 国产精品区一区二区三 | 国产九九在线视频 | 無码一区中文字幕少妇熟女H | 日本午夜免费无码片三汲大片 | 99热国产这里只有精品9九 | 欧美性吧| 久操免费在线视频 | 日本一区二区三区四区高清视频 | 亚洲第一页在线播放 | 欧美精品一区二区三区在线 | 中文字幕三区 | 91精品久久 | 一级做a爰片性色毛片视频图片 | 一区二区免费在线观看 | 亚州老熟女A片AV色欲小说 | 国产麻豆 | 久热官网| 中国欧美日韩一区二区三区 | 日韩欧美精品综合久久 | 天天看天天爽天天摸天天添 | 日韩一区二区三区在线播放 | 精品成人免费一区二区在线播放 | 欧美一级二级在线观看 | 爱爱视频网站 | 日本韩国一区二区三区 | 成人在线不卡 | 亚洲欧美日韩在线一区二区三区 | 久草视 | 成人性爱视频在线观看 | 色综合97天天综合网 |