On March 5, Premier Li Keqiang made a government work report, which pointed out that a larger tax cut would be implemented this year.
In terms of tax reduction and fee reduction, VAT reform will be implemented to reduce the current tax rate in manufacturing and other industries from 16% to 13%, and the current tax rate in transportation and construction industries from 10% to 9%, ensuring that the 6% tax rate will remain unchanged. However, by adopting supporting measures such as increasing tax deduction for production and living service industries, we will ensure that the tax burden in all industries will only decrease but not increase, and continue to push forward the change of tax rates from three to two.
How to reduce taxes and fees this year, let you understand the following figure!
