China's tax, fee cuts total 244b yuan in Jan-April

BEIJING — China's tax watchdog said on June 10 that the country's tax and fee cuts totaled 244 billion yuan (about $36.4 billion) during the first four months of the year.

Among the tax and fee cuts, preferential value-added tax policies have helped small-scale taxpayers save 33.5 billion yuan, Rong Hailou, an official with the State Taxation Administration, told a press conference.

As of June 9, taxpayers have enjoyed over 1.5 trillion yuan of tax rebates, more than twice the amount of tax rebates handled in 2021, Rong said.

Meanwhile, a total of 428.9 billion yuan of taxes have been deferred for micro, small and medium-sized enterprises in the manufacturing sector, Rong added.

Noting that the tax relief policies have effectively supported market entities during the pandemic, the administration said it will make further efforts to ensure solid implementation of the policies.

China's tax authorities have provided businesses nationwide with various types of tax and fee policies to help tide over difficulties.

Source: Xinhua