2020: China's tax, fee cuts top 2.5 trillion yuan
China's tax and fee cuts exceed 2.5 trillion yuan, 2020. /CFP

China's tax and fee cuts exceed 2.5 trillion yuan, 2020. /CFP

China's tax and fee cuts exceeded 2.5 trillion yuan (about $386.35 billion) in 2020 thanks to the country's efforts to support the real economy, data from the State Taxation Administration showed.

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

Last year, the administration released a list for online payments 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 the tax payment services and 99 percent of the 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 payments, 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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Source(s): Xinhua News Agency

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