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China's finance minister Liu Kun said Friday that the scale of tax reduction and fee reduction in 2019 will significantly exceed the expected target at the beginning of the year, and the scale of new tax reduction and fee reduction in the whole year is expected to reach more than 2.3 trillion yuan. China set a target of 2 trillion yuan at the beginning of the year.
At the high-level seminar on optimizing business environment, he said that reducing taxes and fees is the key to optimizing business environment. The Ministry of Finance resolutely implements the decision-making and deployment of the central government to implement a larger scale of tax reduction and fees reduction, and constantly increases the intensity of tax reduction and fees reduction, so as to provide conditions for enterprises to go to battle lightly.
"Next, the Ministry of finance will strengthen coordination and cooperation with relevant departments, pay close attention to tax changes in various industries, study outstanding issues reflected by enterprises in a timely manner, ensure that tax reduction and fee reduction are implemented in place, assess the implementation effect of the policy, improve relevant measures according to the assessment results, and promote the tax reduction and fee reduction policy to play a role." Liu Kun said.
At a meeting in October, officials from the Ministry of Finance mentioned that China's tax cuts and fees cuts this year have exceeded the target of 2 trillion yuan, which only boosted GDP growth by 1 percentage point.


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