The biggest favorable policy this year is to reduce taxes and fees on a large scale. Its main purposes are: First, to reduce the tax burden of the real economy and boost the real economy.
Reduce the tax burden of the real economy. 20 19 government work report points out that the current tax rate of manufacturing and other industries will be reduced to 16%, and the current tax rate of transportation and construction industry will be reduced to 9%, ensuring that the tax burden of major industries will be significantly reduced. Since manufacturing, transportation and construction are important components of China's real economy, which is the foundation of the country, this time, we mainly reduce the two VAT rates of 16% and 10% applicable to the above industries to reduce the tax burden of the real economy, which is conducive to boosting the vitality of the real economy and promoting economic development.