男友太凶猛1v1高h,大地资源在线资源免费观看 ,人妻少妇精品视频二区,极度sm残忍bdsm变态

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

Expert: Gains for small firms from tax, fee cuts

By ZHOU LANXU | China Daily | Updated: 2021-01-29 09:55
Share
Share - WeChat
China is expected to continue its tax and fee cuts this year. [Photo/China Daily]

China is expected to continue its tax and fee cuts this year as part of the ongoing efforts to provide more support for small businesses, stabilize employment and spur innovation, a leading public finance expert said.

"It is certain that the country will continue the tax and fee cut policy this year," said Bai Jingming, former vice-president of the Chinese Academy of Fiscal Sciences, a think tank under the Ministry of Finance.

The nation is expected to maintain the stability and continuity of its tax and fee cut policy, Bai told China Daily earlier this week, adding that a final decision would be made based on the actual changes in the COVID-19 situation and economic conditions.

China is estimated to have cut more than 2.5 trillion yuan ($387 billion) in taxes and fees last year, equivalent to about 2.5 percent of its annual GDP and up from 2.36 trillion yuan in 2019, officials said.

The Chinese economy still needs tax cuts to buffer downward pressure, given that the global recovery remains vulnerable to COVID-19 uncertainties, Bai said. Meanwhile, the reforms on value-added tax and personal income tax, initiated in recent years, will continue to cut tax burden this year.

His words came amid heated discussions over how the Chinese government will set its 2021 tax reduction target as it had to balance the need of normalizing its macro policy to prevent risks with the need to extend support to businesses still facing hardship.

"The tax and fee cut policy should keep its focus on vitalizing market entities, especially medium, small and micro-sized enterprises," Bai said, citing that smaller businesses benefit more from tax cuts and contribute more to stabilizing employment and spurring innovation.

Compared with increasing government spending, tax cuts will be more effective in boosting high-quality economic development as they enable market entities to make spending decisions and thus leverage the advantage in achieving efficient resource allocation, Bai said.

1 2 Next   >>|
Top
BACK TO THE TOP
English
Copyright 1995 - . 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
 
主站蜘蛛池模板: 九江县| 盘锦市| 荆州市| 江北区| 左权县| 齐齐哈尔市| 南江县| 城步| 东兰县| 桐城市| 卓尼县| 兰坪| 白城市| 六安市| 孟州市| 新化县| 郁南县| 宜城市| 九江县| 磴口县| 巍山| 昌宁县| 镇平县| 高青县| 金湖县| 陈巴尔虎旗| 南安市| 偏关县| 碌曲县| 舞钢市| 东辽县| 曲水县| 河源市| 文成县| 都兰县| 南岸区| 康平县| 渝中区| 塔河县| 台北县| 南木林县|