Zhongxin Finance, May 17th. On the 17th, at a series of press conferences on the theme of "China's Decade", Xu Hongcai, Vice Minister of Finance, said that a new combined tax and fee support policy will be implemented this year, and it is expected that tax rebates will be reduced throughout the year. The fee reduction is about 2.5 trillion yuan.

Among them, the large-scale VAT refund is the main content, and the annual tax refund is about 1.5 trillion yuan.

　　Xu Hongcai said that the residual

value-added tax refund will cause a decrease in local fiscal revenue

.

Although it is calculated from the perspective of caliber, the implementation of the real tax rebate will cause a reduction in local financial resources.

For this part of the reduction, the central finance will make up for it through transfer payments, and the basic compensation will be in place, 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, this money is also deducted from the tax refund to the enterprise. The total balance of the treasury is 4.94 trillion yuan, an increase of about 440 billion yuan or 9.6% over the end of April last year. 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 their 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 effectiveness of coordinating epidemic prevention and control and economic and social development, fiscal revenue will also rise steadily.

(Finish)