BUSINESS China's tax, fee cuts top 2.5 trln yuan in 2020

BUSINESS

China's tax, fee cuts top 2.5 trln yuan in 2020

Xinhua

09:22, January 11, 2021

BEIJING, Jan. 11 (Xinhua) -- China's tax and fee cuts exceed 2.5 trillion yuan (about 386.35 billion U.S. dollars) in 2020 amid the country's efforts to support the real economy, data from the State Taxation Administration showed.

File Photo: Xinhua

A total of 29.2 billion yuan of tax payment was extended in the past year, benefiting 3.99 million taxpayers, according to a national tax work conference held in Beijing on the weekend.

Last year, the administration released a list for online payment covering nearly 200 tax and fee items shortly after the COVID-19 outbreak in a bid to facilitate contactless services.
At present, about 90 percent of tax payment services and 99 percent of tax filing services are accessible online, said Wang Jun, head of the administration.
Wang also said that the authority will make more efforts to facilitate tax and fee payment, continue to upgrade smart services and introduce measures for tailored services to better invigorate market entities.
China's tax income, excluding export tax rebates, reached 13.68 trillion yuan in 2020, down 2.6 percent year on year, but 0.8 percentage points higher than the goal set in the fiscal budget, according to the administration.

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