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Stable Economy with Momentum of Growth, and Continual Optimization of Structure

Submit Time:16-08-2017 | Zoom In | Zoom Out

Author: | Source:People’s Daily (Page 10, July 21, 2017)

Abstract:

The State Administration of Taxation held a press conference on the 20th, presenting the tax revenues organized by the taxation authorities in the first half of the year, the results obtained at the first anniversary of resource tax reform and the implementation of relevant tax reduction measures. Data show that in the first half of 2017, the taxation authorities in the whole country organized tax revenue of 7.0789 trillion yuan (export tax rebates already deducted), with year-on-year increase of 8.9%.

As presented by Zheng Xiaoying, deputy director of the Revenue Planning and Accounting Department of the State Administration of Taxation, with the continual improvement of the real economy, the tax revenue of the secondary industry has changed from decrease in the last year to rapid growth in the first half of 2017, the tax revenue of the tertiary industry accounted for 57.6% in the total tax revenue of the whole country, 1.1 percentage points higher than that of the whole year of 2016, reflecting the development trend of stable and improving macroeconomic situation in China in 2017, and also the continuing optimization of economic structure in China. The rapid growth of tax revenue in consumption related sectors also reflected the continuous deepening of consumption upgrading.  

In the first half of 2017, the taxation authorities in the whole country implemented the preferential tax policy for entrepreneurship and innovation, with total reduction of taxes of 216.9 billion yuan, 29.6% more than that in the same period last year, it included tax reduction of 82.8 billion yuan with the preferential policy to support the development of small and micro enterprises, 44.4% more than that in the same period last year which benefits 30 million tax-payers.  

From July 1, 2016, China started overall resource tax reform by levying on the basis of price. It has been operated stably with significant results for one year. According to Sun Qun, deputy director of the Property and Act Tax Department of the State Administration of Taxation, the overall burden of resource tax was reduced in the current year of reform: in 2016, the actually levied resource tax in 129 reform tax items was 16.5 billion yuan, after the reform, the tax was increased while fees decreased, with a general burden alleviation of 4.8 billion yua and an average reduction of 22.5%.  

In 2017, with the rapid rising of prices of main resources including coal and crude oil, the regulation mechanism of price-based levying of resource tax started playing its role, and the taxation elasticity obviously enhanced. In the first half of 2017, the resource tax revenue was 69.599 billion yuan, with the increase of 25.703 billion yuan over that of the same period last year.  


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