Ministry Of Finance: Business Tax Will Be Reduced During 12Th Five-Year.

According to Xie Xu, Minister of finance, according to the general idea of accelerating the reform of fiscal and taxation system in the period of "12th Five-Year", we will further optimize the tax structure, equitable tax burden and standardize revenue in line with the principles of simple tax system, wide tax base, low tax rate and strict administration.

In the "12th Five-Year" period, we should first strengthen tax revenue and promote the pformation of economic development mode.

On the basis of implementing and improving the consumption value-added tax, combined with the legislation of value-added tax, we should steadily expand the scope of VAT collection, reduce business tax and other taxes accordingly, solve the problem of non-uniform taxation policy on goods and services, and gradually eliminate duplicated taxation and promote the development of service industry.

We should levy environmental protection tax and promote the construction of an environment-friendly society.

Secondly, we should give full play to the role of tax adjustment in income distribution.

We should implement the reform of personal income tax and increase the intensity of regulation for high-income earners.

We should improve the consumption tax system and further play its role in regulating income distribution.

We should continue to push forward the reform of fees and taxes, study the reform of real estate tax and improve the property tax system.

On the other hand, our country should promote the reform of the fiscal system below the provincial level. Under the premise of unified tax administration, we should give provincial governments appropriate tax administration authority and cultivate local pillar tax sources, and strive to establish a basic financial security mechanism at the county level in the first three years of 12th Five-Year, and gradually increase the level of protection in the late 12th Five-Year.