China's tax, fee cuts approximate 2.4 trillion yuan

2021-01-01 23:21:42Xinhua Editor : Wang Fan ECNS App Download

According to China's tax authorities, tax and fee cuts totaled 2.37 trillion yuan (about 363.22 billion U.S. dollars) in the first 11 months of 2020.

Of the total, 1.64 trillion yuan was saved under the preferential tax and fee measures unveiled this year to support economic development and COVID-19 containment, according to the State Taxation Administration.

A total of 10.16 million new taxpayers were registered between January and November, up by 7.4 percent year on year, said Cai Zili, an official with the administration.

In the first 11 months of the year, nearly 90 percent of tax-related services were handled online, said the administration.


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