The People's Daily (January 10) reported officials of China's State Administration of Taxation saying at a
recent National Taxation Work Conference that from 2016 to 2021, the cumulative tax and fee cuts exceeded
8.6 trillion yuan, and the macro tax burden is expected to drop from 18.7% in 2012 to around 15.2% in 2021.
Separately, a report about the support provided to enterprises last year says the annual increase in tax and fee cuts is expected to have exceeded 1 trillion yuan in 2021. Giving details, it said, R&D related subsidies have
ensured enterprises enjoyed 333.3 billion yuan in tax reductions and exemptions in advance; tax and fee
reductions granted to micro, small and medium-sized manufacturing enterprises are expected to be around
200 billion yuan; and some 13 million new tax-related market entities are believed to have been added in
2021, up 13.6% year-on-year, or 2.4 times more than in 2012
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