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: 手机| 舞阳县| 襄城县| 衡南县| 锡林郭勒盟| 赣榆县| 新乐市| 藁城市| 宁武县| 镇平县| 龙口市| 阳山县| 泸定县| 霍林郭勒市| 肃宁县| 金华市| 永泰县| 张家口市| 荔浦县| 樟树市| 大悟县| 彩票| 新密市| 怀柔区| 确山县| 余干县| 邹平县| 台北市| 巴南区| 平和县| 务川| 光泽县| 昭平县| 怀安县| 长丰县| 佛坪县| 闸北区| 扶沟县| 百色市| 基隆市| 买车|