国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Policies

Authorities pledge to fully implement tax benefits

By Xu Wei | China Daily | Updated: 2019-03-28 06:47
Share
Share - WeChat
As part of the tax cut measures, VAT eligible for deduction will be expanded to cover passenger transportation services. [Photo/VCG]

Chinese authorities have vowed to take concrete measures to fully implement tax cut plans this year to ensure that tax burdens of all industries will be reduced.

The Government Work Report this year set out tax cut plans including lowering the value-added tax rate in manufacturing and other industries from 16 to 13 percent, and the VAT rate in transportation, construction and other industries from 10 to 9 percent.

Cheng Lihua, vice-minister of finance, said at a news briefing on Wednesday that the authorities would work to ensure that the tax cuts, which are set to take effect starting from next month, will be implemented in full.

As part of the tax cut measures, VAT eligible for deduction will be expanded to cover passenger transportation services. Meanwhile, taxpayers will be able to get their tax on real estate payments deducted in full on a one-time basis, instead of on two occasions in two years.

Cheng said the manufacturing sector will be the largest beneficiary of the tax cuts among all sectors.

"Manufacturing is also the fundamental sector of the national economy. The benefits of tax cuts in the sector will be passed on to more sectors through the industry chains and price mechanisms," she said.

Meanwhile, taxpayers whose main businesses are postal services, telecommunications, modern services and consumer services will receive a 10 percent additional VAT deduction before the end of 2021, the State Council decided at an executive meeting last week. The four sectors saw their VAT rate remain unchanged at 6 percent during this round of tax cuts.

Sun Ruibiao, vice-minister with the State Taxation Administration, said the measure was in fact a temporary incentive policy to ensure the tax burdens of the four sectors will only go down in this round of tax reform.

This round of VAT reform, which is set to unleash a total tax cut of 1 trillion yuan ($148 billion), will at least double the total amount tax cuts that was previously rolled out, said Wang Jianfan, head of the tax policy department of the Ministry of Finance.

He noted that cutting the number of VAT brackets from three to two could require continuous efforts, and it would also be closely related to factors including economic growth and a change in tax regimes.

Top
BACK TO THE TOP
English
Copyright 1994 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
吴堡县| 卓尼县| 泗阳县| 利津县| 莱州市| 将乐县| 石楼县| 唐山市| 津南区| 科技| 疏附县| 合水县| 涪陵区| 南漳县| 南靖县| 康保县| 青海省| 富源县| 遂平县| 大安市| 嘉义县| 南雄市| 绥芬河市| 柳河县| 崇信县| 光山县| 多伦县| 眉山市| 绥棱县| 都匀市| 东阳市| 富宁县| 临海市| 大英县| 赤城县| 娄底市| 同德县| 南汇区| 淮阳县| 吐鲁番市| 泰和县|