To support local tax rebates and tax cuts, China's Ministry of Finance allocates another 400 billion yuan

　　China News Service, Beijing, April 22 (Reporter Zhao Jianhua) The Ministry of Finance of China announced on the 22nd that it has recently allocated 400 billion yuan (RMB, the same below) funds to various localities to support local governments in implementing the tax and fee reduction policies and ease fiscal revenue and expenditure. Contradiction, and promote the smooth operation of county finance.

　　This is the second batch of transfer payment budgets issued by the Ministry of Finance to support grassroots implementation of tax cuts and fee reductions and key livelihoods.

The first batch of special transfer payments of 400 billion yuan to support small and micro enterprises' retained tax rebates were issued on March 21.

　　This year, China implemented a new combined tax and fee support policy. It is estimated that the annual tax rebate will be about 2.5 trillion yuan, of which about 1.5 trillion yuan will be retained.

As a result, some places will face a financial gap, and they will receive central financial support.

　　This year, in addition to normal transfer payments, the central government has specially arranged a total of 1.2 trillion yuan in transfer payments to support grassroots implementation of tax cuts and fee reductions and key livelihoods.

The 1.2 trillion yuan mainly includes: the newly introduced special funds for the tax rebate policy, which are mainly used to support the local implementation of the newly introduced tax rebate policy for income reduction; other special funds for tax rebates, tax reduction and fee reduction, which focus on supporting local implementation of small and micro enterprises The company's original institutional tax rebate and other tax and fee reduction policies; supplementary special funds for county and district financial resources, focusing on making up for the financial gap in the county and district's implementation of the relevant expenditure increase policies, and ensuring the grass-roots "three guarantees" (basic guarantees). people's livelihood, wages, and operation) bottom line.

　　So far, of the above-mentioned 1.2 trillion yuan budget arrangement, the Ministry of Finance has allocated 800 billion yuan.

The Ministry of Finance requires all localities to strengthen the management of central subsidy funds, ensure that tax rebates and tax reduction policies are implemented in place, and stick to the bottom line of "three guarantees".

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