[ad_1]
Original Caption: Tax Cuts and Fee Cuts in August Before Third Quarter Tax Revenue Increase Turned Positive by Over 1.8 Trillion Yuan
Every time reporter Zhang Zhongyin Every time editor Chen Xu
On October 21, the Ministry of Finance held a press conference on fiscal revenues and expenditures in the first three quarters of 2020. Statistics show that from January to September, the revenues of the national general public budget were 14.10 trillion yuan, a year-on-year decrease of 6.4%. In comparison, tax expenditures have not dropped much. From January to September, the national general public budget expenditures totaled 1.75185 billion yuan, down 1.9% year-on-year.
According to Liu Jinyun, director of the Treasury Payment Center of the Ministry of Finance, from the perspective of revenue trends, the growth of tax revenue has improved month by month. In the first three quarters, the revenues of the national general public budget increased by -14.3%, -7.4% and 4.7% respectively. Overall, first-quarter revenue fell sharply in the second quarter and then bottomed out in the second quarter, and the third quarter went from positive from negative to positive.
Since the beginning of this year, the Ministry of Finance and the relevant departments have introduced a series of phased and specific tax and fee reduction measures. According to Chen Donghao, deputy director general of the Tax Administration, from January to August this year, the country achieved a reduction of taxes and fees of 1,877,286 million yuan, of which 1,171,134 million yuan was recently increased in taxes and fees, and 706.152 million yuan were added to reduce taxes and fees. It has played an important role in solving trade difficulties, stabilizing market players, supporting the resumption of work and production, and the smooth functioning of the economy.
National tax revenue “four consecutive increases”
Liu Jinyun introduced that since June this year, the national tax revenue has achieved positive growth for four consecutive months. Revenues from June to September increased by 3.2%, 4.3%, 5.3% and 4.5% respectively. Among them, September deducted certain state finances After special factors such as the profits of institutions and core enterprises turned back, tax revenue increased about 8% year-on-year.
From the perspective of tax collection, the main economic indicators have recovered in a sustained manner, and the growth rate of the main tax categories in September was totally positive.
From January to September, the national tax revenue was 11.18876 million yuan, a year-on-year decrease of 6.4%, and the rate of decline was 10 and 4.9 percentage points less than the first quarter and the first half of the year . Among them, national tax revenue in September increased 8.2% year-on-year.
Regarding types of taxes, from January to September, the domestic value added tax was reduced by 13.5%, which was 5.6 percentage points lower than in the first half of the year. Among them, in September, the industrial and commercial value added tax increased for three consecutive months, mainly due to the continuous acceleration of the growth of industrial production; The value added tax for the business tax reform turned positive for the first time this year, mainly due to the accelerated recovery of the service industry.
Corporate tax fell 4.9%, a decrease of 2.3 percentage points from the first half of the year, mainly due to double-digit growth in corporate profits for three consecutive months. The value added tax on imported goods fell 9.4%, a decrease of 6.8 percentage points compared to the first half of the year, indicating that commercial imports in general continued to rebound.
In terms of spending, from January to September, the national general public budget spending was 1.75185 million yuan, a year-on-year decrease of 1.9%.
Among them, central government spending was 2,544.2 billion yuan, a decrease of 2.1%, local fiscal spending was 15,064.3 billion yuan, a decrease of 1.9%. The decrease in national fiscal spending, except for the impact of the epidemic in the first months of the year, and the slowdown in spending on some projects compared to the same period last year, is mainly due to the strict implementation of the requirements for working hours. adjusted by governments at all levels to reduce non-urgent non-rigid expenditures.
General bonds have issued 939.3 billion
How was the use of local government bonds in the first three quarters?
According to Wang Kebing, first level inspector of the Budget Department of the Ministry of Finance, in 2020, the National People’s Congress will approve the arrangement of new local government bond installments of 4.73 trillion yuan, of which 980 billion yuan yuan for general bonds and 3.75 trillion yuan for special bonds.
As of September 30, 939.3 billion yuan in general bonds had been issued. The issuance and use of special bonds throughout the country is generally good and in line with expectations.
Wang Kebing said that the issuance and use of local government bonds is progressing rapidly and on a large scale. As of September 30, 3,365.2 billion yuan (excluding refinancing) of special bonds (recently added) had been issued throughout the country, representing 95% of the quota issued; the issuance scale increased by 1.2355 billion yuan year on year, an increase of 58%; special bond funds issued 2.8 trillion yuan have been spent, accounting for 83% of the issuance scale.
In addition, in accordance with the decisions and deployment of the Party Central Committee and the State Council, the Ministry of Finance reasonably expanded the scope of special bonds as eligible capital for large projects and increased the proportion of special bonds used as capital for projects from 20% to 25%. Nearly 300 billion yuan of special bonds have been used in railways, rail transit, agriculture, forestry and water conservation, ecological and environmental protection and other fields to meet the capital requirements of major projects, to play the leading role of “four or two assignments”.
