Since the beginning of this year, Jiangsu has implemented the combined tax and fee support policy issued by the Party Central Committee and the State Council, and has made every effort to boost the confidence of market players, enhance the endogenous driving force for development, and promote the stable and healthy development of the economy, according to a press conference held Thursday by the provincial government.
Tax rebates and tax cuts are key measures to stabilize the macro economy this year. Jiangsu has responded to the downward pressure on the economy by introducing a series of assistance measures, and forming a comprehensive, multi-level and three-dimensional tax and fee policy support system.
As of July 20, the province had implemented more than 320 billion yuan in tax reductions and fee reductions and tax rebates and tax deferrals.
The province registered 183.52 billion yuan in value-added tax credit refund, 48.47 billion yuan in various tax cuts and fee reductions and 93.89 billion yuan in various types of deferred taxes and fees.
"Since the implementation of the new combined tax and fee support policy, the province has witnessed increasingly prominent effects in reducing the burden on enterprises, increasing the well-being of the people and ensuring the stability of development," said Liu Boyu, Deputy Secretary of the Party Committee and Deputy Director of the Jiangsu Provincial Taxation Bureau
In the first half of the year, Jiangsu reduced taxes and fees by 6.96 billion yuan and handled 93.52 billion yuan in deferral of taxes and fees for small and micro enterprises and self-employed businesses. From April to June, Jiangsu also deferred 370 million yuan in social security contributions for industries and small, medium and micro enterprises that were seriously affected by the epidemic.
