The State Council Information Office held a series of thematic press conferences on “High-Quality Implementation of the 14th Five-Year Plan.”

State Council Information Office On the 28th, a series of thematic press conferences titled “High-Quality Implementation of the 14th Five-Year Plan” will be held. A relevant official from the State Administration of Taxation will provide information on tax reforms and development during the 14th Five-Year Plan period.

During the 14th Five-Year Plan period, the nation’s cumulative新增 tax and fee reductions are expected to reach 10.5 trillion yuan.

The State Administration of Taxation released the latest data, which shows that... During the 14th Five-Year Plan period, as China’s economy continues to grow steadily, the tax authorities are expected to have collected a total of over 155 trillion yuan in taxes and fees, accounting for roughly 80% of total fiscal revenue. Meanwhile, the country is projected to have cumulatively introduced new tax cuts and fee reductions totaling 10.5 trillion yuan during the same period, and the amount of export tax refunds processed is expected to exceed 9 trillion yuan. All these measures have strongly propelled the economy and society toward sustained improvement and innovative advancement.

In 2024, the number of people benefiting from special additional deductions for individual income tax has reached 119 million, and the total amount of tax reductions has increased to nearly 300 billion yuan.

In the 2024 individual income tax annual settlement, the number of people who benefited from special additional deductions reached 119 million, an increase of 55% compared to the first annual settlement in 2020. The total tax savings increased by 156.5%, rising from 116 billion yuan in 2020 to nearly 300 billion yuan.

In 2024, more than 100 million taxpayers filed tax refund applications in accordance with the law, totaling over 130 billion yuan. In 2024, more than 100 million taxpayers legally filed for tax refunds totaling over 130 billion yuan, while over 7 million taxpayers voluntarily filed tax returns and paid additional taxes amounting to more than 48 billion yuan. These refunds and additional payments reflect the rule of law, standardization, and fairness brought about by China’s new individual income tax system. During the 14th Five-Year Plan period, the state has introduced or extended a series of individual income tax preferential policies. During the 14th Five-Year Plan period, the state has introduced or extended a series of individual income tax preferential policies. Among these, widely applicable measures such as continuing to allow annual one-time bonuses to be taxed separately and exempting supplementary tax payments for settlements below 400 yuan have been extended. These policies have resulted in a total reduction and exemption of individual income tax amounting to 580 billion yuan. Since the implementation of the policy allowing residents to receive tax refunds when swapping homes—effective October 2022—individual income tax refunds totaling 11.1 billion yuan have already been issued, effectively easing the tax burden on this group of people. In the first half of this year, the number of overseas tourists coming to China to enjoy tax refunds increased year-on-year. 186% This year From January to June, the number of duty-free stores for outbound travelers in China more than doubled, exceeding 7,200. The number of people benefiting from tax refunds increased by 186% year-on-year, while sales of tax-refundable goods and the total amount of tax refunds both rose by 94.6% and 93.2%, respectively, compared to the same period last year. The popularity of “China tours” among overseas travelers continues to rise. New tax and fee reductions benefit these groups. From 2021 through the first half of this year, the country has cumulatively added tax and fee reductions totaling 9.9 trillion yuan, and is expected to reach 10.5 trillion yuan by the end of this year, with an average annual increase in tax and fee reductions exceeding 2 trillion yuan. From a policy perspective, preferential policies focused on supporting technological innovation and the development of advanced manufacturing have led to additional tax and fee reductions amounting to 3.6 trillion yuan, accounting for 36.7%. In terms of beneficiary entities, among various economic actors, private enterprises and individual business households—collectively referred to as the private economy—have received additional tax and fee reductions totaling 7.2 trillion yuan, representing 72.9% of the total. Among enterprises of all sizes, small, medium, and micro-sized enterprises have collectively benefited from additional tax and fee reductions totaling 6.3 trillion yuan, accounting for 64%.