Updated: 2022-03-23 STA

In recent years, the Party Central Committee, with President Xi Jinping as the core, has been coordinating the two major situations at home and abroad, focusing on cross-cycle and counter-cycle adjustment of macro policies, and continuously deploying tax and fee reduction policies to alleviate the burden of market subjects and achieve positive results. It is of great significance to further stabilize the expectations of market players, boost the confidence of market development, serve the general situation of "six stability" and "six protection", keep the economic operation in a reasonable range and promote high-quality development.

Data from the General Administration of Taxation shows that in 2021, the country's new tax cuts totaled 100.88 billion yuan, and new fee reductions totaled 164.7 billion yuan. The tax concessions helped small and micro businesses continue to increase. The "double" benefit of R&D expense deduction encouraged innovation. The value-added tax credit refund system was optimized to support the real economy. The phased implementation of tax relief measures precisely relieved difficulties.

In 2021, the tax policy achieved "one reduction, two increases and three stabilization". "One Reduction”, that is, reduced the burden on enterprises, and the macro and micro tax burden had been decreasing year by year. "Two Increases", that is, faster growth in business sales and increasing investment dynamics. "Three Stabilization" means steady increase in new tax-related market entities, steady growth of enterprise innovation momentum, and stable operation of industrial economy.

When it comes to 2022, this year's tax support policies are highlighting scale, continuity, precision and orientation. By highlighting the scale, the policy arrangement exceeds expectations. By highlighting the continuity, the policies focus on the key to promote development. By highlighting the precision, they help enterprises to relieve difficulties and increase vitality. And by highlighting the orientation, they stimulate innovation and strengthens dynamics.

To ensure the implementation of the new combined tax support policy in 2022, a series of efforts are on schedule, which can be summarized as: clearly implement the "responsibility book", concentrate on the construction "countdown", pave the "highway" for quick enjoyment, push the tax "bonus account", and build a firm disciplinary "firewall".

The national taxation system will grasp the implementation of the tax support policies with greater determination, more practical measures, higher standards, and effectively improve the policies. The system will continue to optimize the tax payment service, ensure that the reduction is in place, the exemption is in place, the delay is in place, and the refund is in place, so that the market subjects and the people will have a real sense of gain.