China's private sector benefits most from tax relief: official-Xinhua

China's private sector benefits most from tax relief: official

Source: Xinhua

Editor: huaxia

2023-05-26 19:58:00

BEIJING, May 26 (Xinhua) -- Taxpayers from China's private sector have benefited the most from the country's tax and fee relief measures.

Over 339.3 billion yuan (about 47.95 billion U.S. dollars) of tax and fee payments were rebated, deducted, or deferred for the country's private businesses and self-employed households in the first four months of this year, accounting for over 70 percent of the total, Rong Hailou, an official with the State Taxation Administration, told a press conference Friday.

Regarding industry-wise figures, the manufacturing, wholesale, and retail industries were the biggest beneficiaries of all industries in the private economy, enjoying 48 percent of the total tax and fee relief, said Rong.

Small and micro enterprises saw 195.8 billion yuan in tax rebates, tax and fee reductions, and deferrals from January to April.

During the period, China's tax refunds, as well as tax and fee cuts and deferrals, amounted to 468.9 billion yuan, Rong added.