Friday , January 22 2021

Chinese finance minister Liu Kun said that it would deepen the reform of the VAT package and cut down on massive tax cuts and reductions



Beijing, Reuters, Beijing, January 11 – Chinese Economy Minister Liu Xiang will stage a television broadcast on Friday, supporting China for economic growth.

Last year, Chinese officials pledged to cut massive tax cuts and cuts in 2013 after taxes and fees fell by 1.3 trillion yuan ($ 192.82 billion).

The role of the Central Committee of the Economic Committee should be implemented. Enhancement of efficiency, massive scale tax cuts and reductions, improvement of fiscal spending costs, improvement of the use of public funds and sustainable financial health should be strengthened. Development and social stability.

In addition, Xingu said that he would continue to promote tax reform that is worth adding value and substantial tax cuts. Completion of special revised personal income tax law and its implementing regulations, implementing special additional deduction policies to reduce the tax burden on residents. At the same time, we will actively study the weighting of the social insurance rate to prepare broad plans and reduce the burden on the social insurance contributors by coordinating with relevant departments.

The government understands the government's idea of ​​reducing the VAT rate, while the current service industry rate is 6% and the production tax rate is 16%.

The Executive Board meeting on January 9 decided to introduce a number of new incentives for small and micro businesses, and the annual reductions of small and small businesses are only about 200 billion yuan.

Liu Kan said the government had prepared a comprehensive plan to reduce the social security rate and to further reduce the social insurance contribution of businesses. (end)

Liu Jin compilation, red feminine review

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