Tax Reduction And Fee Reduction Achieved Remarkable Results. State Administration Of Taxation: New Tax Reduction And Reduction Fee Exceeded 2 Trillion Yuan In 2019.

Recently, the national tax work conference was held in Beijing. Wang Jun, director general of the State Administration of Taxation, said that the reduction of taxes and fees in 2019 had achieved remarkable results. After deducting the export tax rebates, the annual tax revenue was 14 trillion yuan.

In 2019, the effect of tax cut and fee reduction was better than expected. The annual additional tax reduction and fee reduction has exceeded 2 trillion yuan, accounting for more than 2% of GDP.

Wang Jun, director general of the State Administration of Taxation The tax burden of all industries has decreased to varying degrees, which has greatly promoted economic development. It is estimated that tax reduction and tariff reduction will stimulate GDP growth by about 0.8 percentage points throughout the year. New tax cuts for the whole year bring more than 300 billion yuan of new consumption, stimulating the total retail sales of social consumer goods to increase by about 1 percentage points.

In addition, in 2019, the national tax authorities organized 18 trillion and 300 billion yuan in taxes and fees, including 14 trillion yuan in tax revenue (tax rebates), up 1.8% from the same period last year. Annual export tax rebates of 15740 billion yuan, an increase of 4.8% over the same period.