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Vice-premier stresses full implementation of tax, fee cuts

Updated: Jun 26,2019 4:53 PM     Xinhua

BEIJING — Vice-Premier Han Zheng called for the solid implementation of measures to cut taxes and fees and making every effort to ensure market entities enjoy policy dividends.

Han, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, made the remarks on June 25 at a symposium in Beijing.

In the first five months of this year, China has seen a marked increase in newly-introduced tax and fee cuts, and measures including value-added tax reform have played an important role in stimulating market vitality, countering the downward economic pressure and stabilizing employment, Han said.

More should be done to improve the conduction mechanism of tax dividends and policies on tax credit and refund to augment cash flow for enterprises, he said.

The vice-premier called on governments at all levels to further reduce fiscal spending and urged efforts to ensure that all industries see a drop in tax loads this year.

In 2018, China reduced the tax and fee burden on enterprises and individuals by around 1.3 trillion yuan (about $189 billion). The country will reduce the tax burden on and social insurance contributions of enterprises by nearly 2 trillion yuan this year.