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Backgrounder: China on the move to cut fees, taxes

Source: Xinhua| 2019-04-04 18:58:45|Editor: Li Xia
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BEIJING, April 4 (Xinhua) -- China pledges the implementation of large-scale tax cuts and fee reductions this year in a bid to further boost the vitality of market entities, increase urban and rural personal incomes and expand capacity for consumption.

The following are major moves China has taken since the start of the year, or are expected to take in 2019.

-- Starting from April 1, the current VAT rate of 16 percent in manufacturing and other industries is cut to 13 percent, and the VAT rate in transportation, construction and other industries is lowered from 10 percent to 9 percent. China also cuts the export tax rebate rates of certain goods and services from 16 percent to 13 percent.

-- Starting from April 1, China lowers rail freight fees to support the real economy. The fee cuts are expected to amount to about 6 billion yuan (around 893 million U.S. dollars) per year.

-- Starting from April 9, China will cut the tariff rates for baggage brought by individuals and articles mailed into the country to expand imports and consumption.

The tax rate on products including food and medicine will be lowered from 15 percent to 13 percent. The rate for commodities including textiles and electric appliances will be cut from 25 percent to 20 percent.

-- Starting July 1, charges on real estate registration will be cut or canceled. The coverage of patent application and annual fee reductions will be expanded.

-- This year, China will reduce mobile internet service rates and lower broadband service rates for small- and medium-sized enterprises by about 180 billion yuan. China will also trim the average electricity price for general industrial and commercial businesses, lower prices for rail freight transport, cut or merge port charges and revoke the charge for citizens' ID information certification.

The country will also speed up the development of a comprehensive listing system for the collection of fees and charges, making charge collection open and transparent and leaving unauthorized charges no place to hide, according to this year's government work report.

In 2018, taxes and fees levied on enterprises and individuals were reduced by around 1.3 trillion yuan as a result of multiple preferential tax policies introduced by the government.

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