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On April 19, Premier Li Keqiang presided over an executive meeting of the State Council and decided to introduce further tax reduction measures to continue to promote the real economy to reduce costs and increase stamina
.
The meeting pointed out that, in accordance with the deployment of the "Government Work Report", deepening tax reforms, increasing tax reductions, and continuously reducing burdens and increasing forces for market entities are important measures to further advance the supply-side structural reforms, which are conducive to the current complicated domestic and foreign environments.
In a situation where there are still many unstable and uncertain factors, by optimizing the business environment, enhancing corporate vitality and innovation motivation, consolidating the momentum of economic stability and promoting structural upgrading
.
The meeting decided to further introduce the following tax reduction measures based on the 200 billion fee reduction measures introduced in the first quarter: From July 1 this year, the value-added tax rate will be reduced from four levels to 17%, 11% and 6%.
It is expected that the tax burden of various market entities will be reduced by more than 380 billion yuan throughout the year, which will continue to promote the real economy to reduce costs and increase the stamina
.
Previously, according to Article 2 Paragraph 4 of the "Interim Regulations on Value-Added Tax of the People's Republic of China" (Order No.
538 of the State Council): "Taxpayers sell or import the following goods at a tax rate of 13%.
Now the original 13%-level natural gas and pesticides are cancelled.
The value-added tax on fertilizer and agricultural machinery was reduced to 11%
.
.
The meeting pointed out that, in accordance with the deployment of the "Government Work Report", deepening tax reforms, increasing tax reductions, and continuously reducing burdens and increasing forces for market entities are important measures to further advance the supply-side structural reforms, which are conducive to the current complicated domestic and foreign environments.
In a situation where there are still many unstable and uncertain factors, by optimizing the business environment, enhancing corporate vitality and innovation motivation, consolidating the momentum of economic stability and promoting structural upgrading
.
The meeting decided to further introduce the following tax reduction measures based on the 200 billion fee reduction measures introduced in the first quarter: From July 1 this year, the value-added tax rate will be reduced from four levels to 17%, 11% and 6%.
It is expected that the tax burden of various market entities will be reduced by more than 380 billion yuan throughout the year, which will continue to promote the real economy to reduce costs and increase the stamina
.
Previously, according to Article 2 Paragraph 4 of the "Interim Regulations on Value-Added Tax of the People's Republic of China" (Order No.
538 of the State Council): "Taxpayers sell or import the following goods at a tax rate of 13%.
Now the original 13%-level natural gas and pesticides are cancelled.
The value-added tax on fertilizer and agricultural machinery was reduced to 11%
.
