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Minister of politics Liu Kun: more tax cuts and fee reductions will be implemented in 2022

Date: 2021-12-28
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Xinhua news agency, Beijing, December 27 (reporter Shen Cheng) - Finance Minister Liu Kun said on the 27th that more tax cuts and fees will be implemented in 2022 to enhance the vitality of market players.

The central economic work conference held recently proposed that active fiscal policies should improve efficiency and pay more attention to accuracy and sustainability. At the national financial work video conference held in Beijing on the 27th, Liu Kun introduced the key points of financial work in 2022.

On December 27, the national financial work video conference was held in Beijing. (drawing provided by the Ministry of Finance)

He said that to implement an active fiscal policy in 2022, we should focus on six aspects: first, we should make greater efforts to reduce taxes and fees and enhance the vitality of market players; Second, maintain appropriate expenditure intensity and improve expenditure accuracy; Third, reasonably arrange special bonds of local governments to ensure the construction of key projects; Fourth, increase the transfer payment from the central government to local governments and firmly grasp the bottom line of 'Three Guarantees' at the grass-roots level; Fifth, adhere to the tight living of Party and government organs and run all undertakings thrifty; Sixth, strictly enforce financial discipline and straighten out financial order.

'Strengthen support for market players and strengthen policy implementation.' Liu Kun said that in 2021, China will optimize and implement the policy of tax reduction and fee reduction, and it is expected that the annual new tax reduction and fee reduction will reach 1 trillion yuan. In 2022, it is necessary to strictly implement various tax reduction and fee reduction policies issued by the state to ensure the implementation of tax reduction and fee reduction policies.

We will strengthen assistance for the relief of small, medium-sized and micro enterprises, implement the award and subsidy policy for the inclusive financial development demonstration zone, continue to implement the award and subsidy for the reduction of financing guarantee fees for small and micro enterprises, support a new number of national specialized and new 'little giant' enterprises, and encourage local governments to arrange relief funds for small and medium-sized enterprises.

Fully tap the potential of domestic demand and give full play to the role of Finance in stabilizing investment and promoting consumption; Strengthen risk prevention and control and firmly hold the bottom line of no systemic risk; Strengthen the supervision of accounting quality and the construction of CPA industry, and earnestly fulfill the main responsibility of financial and accounting supervision; Optimize the management of financial science and technology funds and enhance the toughness of industrial chain and supply chain; Highlight the bottom line of ensuring basic living standards and continuously improve people's livelihood and well-being; Ensure the priority development of agriculture and rural areas and accelerate the modernization of agriculture and rural areas; Improve fiscal and tax support policies for ecological civilization and promote green and low-carbon development.The meeting defined the key work in the financial field in 2022.

'Financial departments should accurately grasp the requirements of stability and seeking progress while maintaining stability, implement positive fiscal policies, actively launch policies conducive to economic stability, and properly advance the policy.

At the same time, they should strengthen the coordination and linkage between fiscal policies and monetary, employment and other policies, pay attention to the organic combination of cross cyclical and counter cyclical regulation, and improve the overall efficiency of the policy.' Liu Kun said.


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