(Economic Watch) Tax rebates, tax cuts and fee reductions help stabilize China's economic market

　　China News Service, Beijing, August 19 (Reporter Zhao Jianhua) In recent years, China has continued to implement the policy of tax rebates, tax reductions and fee reductions, which has provided strong support for reducing the burden on market players, coping with the economic downturn, and stabilizing the broader economic market.

　　According to data released by the State Administration of Taxation, from 2013 to 2021, the tax department handled a total of 8.8 trillion yuan (RMB, the same below) for new tax cuts and fee reductions.

China's macro tax burden will drop from 18.7% in 2012 to 15.1% in 2021.

This year, new combined tax and fee support policies such as large-scale value-added tax credits and refunds have been implemented. As of the end of July, the country has accumulated a total of more than 3 trillion yuan in new tax reductions and fee reductions and tax rebates and tax deferrals.

　　In recent years, the policies of tax rebates, tax reductions and fee reductions implemented by China are related to key links and key areas of economic and social development, and key breakthroughs have been used to drive overall development.

　　In 2016, through the comprehensive implementation of the pilot program of replacing business tax with value-added tax, large-scale tax reduction dividends were released, and the service supply side reform was carried out; Simplify the value-added tax rate to effectively reduce the burden on enterprises and individuals; in 2018, through measures such as lowering the value-added tax rate and raising the basic deduction standard for personal income tax, the burden on the majority of taxpayers will be further reduced; in 2019, a larger scale of tax reduction and fee reduction The implementation of the policy focuses on reducing the burden on the manufacturing industry and small and micro enterprises. The cumulative tax reduction and fee reduction for the year exceeded 2.3 trillion yuan, accounting for more than 2% of GDP.

　　Then, in 2020, 28 preferential tax and fee policies in 7 areas were launched to support epidemic prevention and control and economic and social development. The annual tax reduction and fee reduction exceeded 2.6 trillion yuan, which strongly supported stable employment; Tax reduction and fee reduction + tax reduction and fee deferral” will continue to increase, and the tax reduction and fee reduction will have a superimposed effect; in 2022, a new combined tax system of “large-scale tax rebate + tax reduction and fee reduction + tax deferred payment” will be implemented. The fee support policy has the characteristics of large scale, multiple preferential methods, wide range of benefits and strong continuity.

　　From macro "tax burden reduction" to micro "cost reduction", the policy of tax rebate, tax reduction and fee reduction not only directly reduces the economic burden of enterprises and promotes economic growth, but also spawns a large number of market players and promotes high-quality economic growth.

　　Liu Shangxi, president of the Chinese Academy of Fiscal Sciences, said that the fundamental goal of tax rebates, tax cuts and fee reductions is to empower the Chinese economy.

　　From 2013 to 2021, the total number of new tax-related market entities in China reached 93.15 million, with an average annual increase of more than 10 million.

The number of general VAT taxpayers has increased from 5.44 million at the end of 2015 to 12.38 million at the end of 2021, and the effect of "releasing water to raise fish" continues to show.

　　Data shows that in 2021, the tax burden per 100 yuan of operating income of key tax source enterprises will decrease by 3.8% compared with 2020, and a cumulative decrease of 21.7% compared with 2015, creating a better business environment.

Ma Haitao, vice president of the Central University of Finance and Economics, said that tax rebates, tax reductions and fee reductions are the most “golden” policies to help enterprises, and market players have benefited the most and felt the most deeply.

　　Tax rates fell and business confidence rose.

Teng Junping, financial director of Beijing Printing Group Co., Ltd., said that the VAT rate has been reduced from 17% to 13%, which is very helpful to enterprises.

According to Chen Liangyuan, the head of Zhejiang Wanyu Technology Group Co., Ltd., which has only been established for one year Take a new step.

　　The burden of enterprises is reduced, and the pace of innovation is accelerated.

In recent years, policy dividends such as the increase in the ratio of additional deductions for R&D expenses have been gradually released, injecting a "stimulant" for enterprises to accelerate R&D innovation.

In 2021, Beijing Dream Plus Information Technology Co., Ltd. will enjoy more than 13 million yuan in tax reduction and exemption only for R&D expenses, and more than 21 million yuan in tax reduction and exemption throughout the year. The saved funds will be used for intelligent R&D and iteration of office products.

Zhao Yan, senior vice president of the company, said that the tax reduction and fee reduction of the company is clear at a glance, which saves worry and effort.

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