How much money does the treasury have to support tax cuts and fee reductions?

　　Zhongxin Finance, May 17th, "Ten years of tax revenue exceeded 110 trillion yuan", "National general public budget revenue accumulated to 163.05 trillion yuan in ten years", "Ten years of cumulative tax reduction and fee reduction of 8.8 trillion yuan"" The balance of the treasury is 4.94 trillion yuan" "Since this year, it has reduced the tax burden for enterprises and increased cash flow by more than 1.6 trillion yuan"...

　　On the 17th, at a series of press conferences on the theme of "This Decade of China", a series of heavy data was disclosed, reflecting that my country's financial strength has continued to increase in the past ten years, the financial "cake" has become larger and larger, and the vitality of social innovation and entrepreneurship has continued to be stimulated. good situation.

Ministry of Finance of the People's Republic of China.

China News Agency Fa Kang Yafeng Photo source: CNSPHOTO

General public budget revenue has accumulated 163.05 trillion yuan in ten years

　　At the press conference, Xu Hongcai, Vice Minister of Finance, introduced that over the past ten years, the financial strength has been continuously enhanced.

With the steady and healthy development of the economy, the state's fiscal revenue has maintained a rapid growth rate, and the fiscal "cake" has become larger and larger.

From 2012 to 2021, the national general public budget revenue will increase from 11.73 trillion yuan to 20.25 trillion yuan, a ten-year accumulation of 163.05 trillion yuan, with an average annual growth of 6.9%.

　　The scale of national fiscal expenditure is expanding year by year.

The national general public budget expenditure has increased from 12.6 trillion yuan in 2012 to 24.63 trillion yuan in 2021, accumulatively reaching 193.64 trillion yuan in ten years, with an average annual growth of 8.5%, which has effectively promoted the overall development and progress of economic and social undertakings.

　　In the past ten years, the taxation department has organized tax revenue of more than 110 trillion yuan, which has increased from 9.5 trillion yuan in 2013 to 15.5 trillion yuan in 2021. solid financial security.

　　Over the past ten years, the tax department has handled a total of 8.8 trillion yuan in new tax reductions and fee reductions, which strongly supports market players in light-loaded battles and accelerated development.

my country's macro tax burden has dropped from 18.7% in 2012 to 15.1% in 2021. Especially in 2019, a larger scale of tax and fee reductions will be implemented, and the macro tax burden in that year will be 1 percentage point lower than that in 2018.

　　Over the past ten years, more than 90 million new tax-related market entities have been established, effectively stimulating the vitality of market entities.

Under the comprehensive effect of macro policies such as tax reduction and fee reduction, the vitality of innovation and entrepreneurship in the whole society has been continuously stimulated. The total number of new tax-related market entities nationwide has reached 93.15 million, with an average annual increase of more than 10 million households; the number of general VAT taxpayers has increased from 2015. The number of households at the end of the year increased from 5.44 million to 12.38 million by the end of 2021, and the effect of "releasing water for fish farming" continued to show.

Helping enterprises to reduce their burdens

　　Xu Hongcai said that a new combined tax and fee support policy will be implemented this year, and it is expected that the annual tax rebate, tax reduction and fee reduction will be about 2.5 trillion yuan.

　　"Among them, the large-scale tax refund of value-added tax is the main content. The annual tax refund is about 1.5 trillion yuan. This refers to the newly added tax. The new policy is introduced, and the newly added tax refund is 1.5 trillion yuan. The Ministry of Finance, together with the state The State Administration of Taxation and other relevant departments will speed up the implementation of the tax rebate policy, which will directly increase cash flow for enterprises, and help enterprises reduce their burdens and bail out with real money." Xu Hongcai said.

　　According to Xu Hongcai, in the next step, the Ministry of Finance will further implement various tax and fee support policies, and speed up the implementation of established policies such as VAT credits and refunds for large enterprises.

　　Xu Hongcai also said that we should speed up the implementation progress, release policy dividends as soon as possible, help enterprises to solve difficulties, enhance the endogenous driving force for development, and promote the economic operation within a reasonable range.

At the same time, the Ministry of Finance will also plan incremental policy tools to fully expand domestic demand.

This year, it has reduced the tax burden and increased cash flow for enterprises by more than 1.6 trillion yuan

　　Wang Daoshu, deputy director of the State Administration of Taxation, said at the press conference that the implementation of the new combined tax and fee support policy has reduced tax burdens and increased cash flow for enterprises by more than 1.6 trillion yuan this year.

　　Wang Daoshu introduced that it includes three parts: First, from April 1 to May 16, a total of 979.6 billion yuan of tax credits and refunds were refunded to the corporate account, and in the next quarter, the previously introduced value-added tax credits and tax refunds continued to be implemented. The old policy was 123.3 billion yuan, and this year a total of 1,102.9 billion yuan of tax refunds were refunded to the taxpayer's account.

Second, in the first quarter, the country added 198 billion yuan in tax and fee reductions.

The third is the deferred tax payment of 377.8 billion yuan by small, medium and micro enterprises in the manufacturing industry that has continued to be implemented since the beginning of this year.

These policy dividends have played an important role in helping enterprises, especially small and medium-sized enterprises and individual industrial and commercial households, to relieve difficulties and boost their confidence.

Data map: A citizen successfully paid the deed tax using digital renminbi.

Photo courtesy of Zhejiang Provincial Taxation Bureau, State Administration of Taxation

The balance of the treasury reached 4.94 trillion yuan, a year-on-year increase of 9.6%

　　Xu Hongcai pointed out that the residual value-added tax refund will cause a decrease in local fiscal revenue.

For this part of the reduction, the central government makes up for it through transfer payments, basically making up for it, and the local financial resources can be effectively guaranteed.

　　Xu Hongcai said, "We have also analyzed the treasury funds of the central and local treasuries. As of the end of April, the national fiscal treasury balance was 4.94 trillion yuan. This treasury balance is the money received by the fiscal year, minus expenditures. Money, the remaining balance, of course,

total

. The balance of local treasury funds was 4.56 trillion yuan, an increase of about 3.5 trillion yuan or 12.2% over the previous year."

　　Xu Hongcai said that in general, the growth rate of fiscal revenue declined in April, which is mainly a reflection of the fact that the fiscal and taxation departments at all levels have stepped up efforts to implement the tax reduction and tax rebate policies of the Party Central Committee and the State Council. , through the subtraction of fiscal revenue, in exchange for the addition of corporate benefits and the multiplication of market vitality.

At the same time, the fundamentals of my country's economy are stable and sound, and the long-term improvement has not changed. With the effect of coordinating epidemic prevention and control and economic and social development, fiscal revenue will also rise steadily.

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