Chinese government plans new tax cuts to reduce the burden on businesses, support innovation and stabilize growth.
我国政府计划通过新一轮降税减轻企业负担、支持创新和稳定增长。
Tax cuts were approved last Wednesday at a State Council executive meeting presided over by Premier Li Keqiang, after the government announced measures to reduce business costs in the first quarter.继一季度政府出台降低企业成本的措施后，上周三，国务院总理李克强主持召开的国务院常务会议通过了减税措施。Value-added tax will be simplified, more small and micro companies will enjoy income tax incentives, and proportion of pre-tax deductions for innovation-based tech companies will rise, according to a statement made public after the meeting.
根据会后公布的声明，增值税将得以简化，更多小微企业将享受所得税优惠，创新科技企业的税前加计扣除比例将提高。A government work report released in March promised around 350 billion yuan of cuts to corporate taxes and business fees cut by around 200 billion yuan in 2017.3月发布的政府工作报告承诺，2017年我国将减轻企业税负约3500亿元、涉企收费约2000亿元。After the new measures become effective, the total tax reduction will amount to more than 380 billion yuan this year, the statement said.声明称，这些新措施实施后，今年我国减税总规模将超过3800亿元。