China’s tax, fee cuts exceed $142.25 billion in first three quarters

China’s tax, fee cuts exceed $142.25 billion in first three quarters

China’s tax, fee cuts exceed $142.25 billion in first three quarters
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BEIJING: China’s tax and fee cuts totalled 910.1 billion yuan ($142.25 billion) during the first three quarters of the year, according to the data from the State Taxation Administration.

Some 788.9 billion yuan of taxes and 121.2 billion yuan of fees were reduced, according to the administration.

Since the beginning of the current year, a mix of tax and fee cuts have been announced to alleviate financial burdens on businesses and strengthen market vitality, the administration said.

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