BEIJING, Jan. 11 -- China is mulling tax reductions on a larger scale this year to bring down the burden on the real economy and improve market confidence, Minister of Finance Liu Kun has said.
Liu said in an interview on Thursday that the tax cut in the pipeline would be inclusive, simple and practical, and be implemented at an early date.
His remarks came on the heels of a new batch of tax breaks for small and micro firms, which comprised of lower tax rates, higher tax thresholds and favorable policies for investors of tech startups.
"Some 17.98 million businesses in China are covered by the inclusive tax reduction, accounting for more than 95 percent of the total corporate taxpayers and with 98 percent of them privately owned," Liu said.
China will also step up efforts to push forward value-added tax reform for substantive tax cuts, implement special individual income tax deductions, and ease the business burden from social insurance payments, Liu said.
With intensive tax breaks, China is estimated to save a total of 1.3 trillion yuan (nearly 200 billion U.S. dollars) for market entities in 2018, outshining similar moves by any other countries in terms of scale and ratio to GDP.
While persisting in tax cuts, China will take bolder and more effective measures to implement proactive fiscal policy, Liu said.
"The fiscal expenditure will be improved moderately according to the economic situation and demand, and there will be a relatively substantial increase in the issuance of special-purpose local government bonds to support projects under construction and fix shortcomings," Liu said.
China will make fiscal funds more effective and channel more capital into weak areas including poverty relief, agriculture, innovation and environmental protection, Liu said, adding that the general government spending would be cut by more than 5 percent.
Liu denied concerns about massive stimulus and stressed that the measures were counter-cyclical, aimed to strike a balance between stable growth and risk prevention, and would be more market-oriented and law-based.
China has assigned 1.39 trillion yuan worth of bonds to local governments, which Liu said would be used to finance the development of poor areas and major projects of railways, water conservation and rural revitalization.
[动词的时态]延续动词与瞬间动词
[动词的时态]时态与时间状语
[动词的语态]不用被动语态的情况
[动词的语态]短语动词的被动语态
[动词不定式]不定式作补语
[动词不定式]省去to 的动词不定式
[特殊词精讲]regret doing/to do
[特殊词精讲]be afraid doing/to do
[分词]分词作状语
[动词的时态]be to和be going to
[分词] 分词作插入语
[动词的语态]need/want/require/worth
[动词的语态]动词的语态
[独立主格]独立主格
[动词不定式]动名词与不定式
[动词的时态]用现在进行时表示将来
[动词的时态]一般将来时
[句子的种类]句子的种类
[句子的种类]祈使句结构
[分词]分词
[分词]分词的时态
[分词]分词作定语
[动词的时态]用一般过去时代替过去完成时
[动词的时态]用于现在完成时的句型
[分词]连词+分词(短语)
[动词的时态]时态一致
[动词不定式]用作介词的to
[动词的时态]since的四种用法
[动词不定式]不定式的特殊句型so as to
[动名词]短语动词
不限 |
英语教案 |
英语课件 |
英语试题 |
不限 |
不限 |
上册 |
下册 |
不限 |