According to the latest data released by the Ministry of Finance, from 20 19 to 1-2, the cumulative revenue of the national general public budget was 39 104 billion yuan, up by 7% year-on-year. Among them, after the implementation of the new personal income tax law, personal income tax reached 232.6 billion yuan, a year-on-year decrease of 18 1%.
In recent years, "reducing taxes and fees" has become an important means for Chinese management to stimulate the vitality of market players and cope with the downward pressure on the economy. These practical measures have also produced effects beyond market expectations, effectively ensuring the steady and rapid economic growth in China. The stock market also gave a positive response this year. The Shanghai Composite Index rose from more than 2,400 points to around 3 100 points, which is closely related to investors' good expectation of tax reduction and fee reduction. In addition, the PMI new orders, prices and business expectation index of the manufacturing industry also rebounded in February, and the PPI rose for two consecutive months, which also showed the market effect of further improving corporate profit margins and effectively stabilizing manufacturing investment through tax reduction and fee reduction.
The individual tax reform implemented in June of 20 18 took the lead in launching the reform of substantial tax reduction and fee reduction in 20 19. On June 5438+ 10 this year, the special additional deduction system was implemented, which opened a new era of individual tax reform, marking the official landing of China's personal income tax system combining comprehensiveness and classification.
The double superimposed tax reduction policy of additional tax deduction and raising the threshold makes the tax reduction effect very obvious, laying the foundation for the bright performance of financial data in the first two months of this year. Director State Taxation Administration of The People's Republic of China said in the ministerial passage of the two sessions that from 20 18 10 to this year 10, the cumulative tax reduction in four months was nearly 200 billion yuan. From June 2065438 to September 2008 before the tax reform, the tax revenue increased by 20% year-on-year; Four months after the tax reform, the tax revenue decreased by 14.2% year on year. 20 19 1 month, after the implementation of the second-step tax reform plan, the monthly tax revenue decreased by 23.5% year-on-year. Among the people who reduced taxes, 80 million working-class people benefited, and the tax reduction rate reached100%; There are 65 million middle-class people who cut taxes by more than 70%.
Through the beautiful tax revenue data after the tax reform, we can see that the policy of "reducing taxes and fees" is playing a positive role in the investment enthusiasm and personal income of market participants.
First of all, as a direct tax closely related to personal income, the scale of tax reduction directly affects the after-tax income level of relevant groups. The tax reduction benefits 654.38+0.45 billion working-class and middle class, with a wide range of benefits and far-reaching influence. These 654.38+0.45 billion working-class and middle-class people are groups with strong consumer demand. The individual tax reform dividend they enjoy will be directly converted into consumption power, which will effectively improve China's consumption level, thus driving the production field, fully stimulating the business vitality of market players and forming a reform dividend.
Secondly, tax reduction and fee reduction will greatly reduce the tax burden and labor cost of manufacturing workers, improve the income level of manufacturing workers, accurately mobilize the enthusiasm of manufacturing workers, and realize the multiple effects of tax reduction and fee reduction accurately benefiting the development of the real economy.
In addition, this year's tax reduction and fee reduction measures will be further strengthened, and will also involve the reform of value-added tax and the reduction of social insurance premiums. With the gradual implementation of these reform measures, on the one hand, we can continue to reduce the tax burden of real economy industries such as manufacturing, bring more profit space to the real economy, realize "releasing water to raise fish", and effectively stimulate market vitality and sustainable development ability. On the other hand, the value-added tax reform will also affect the prices of goods and services, the actual purchasing power of residents, and improve people's consumption level.
For example, the duty-free price of a commodity is 1 1,000 yuan. Under the tax rate of 16%, the retail price should be 1 160 yuan. If the VAT rate is reduced to 13%, the retail price should be reduced to 1 130 yuan, and the tax rate will be lowered. After the announcement of the recent VAT rate reform policy, many automobile brands announced "price reduction" at the first time, which was the market reaction after the implementation of the tax reduction policy.
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