Taxpayers to Save Blns in Canceled Service Fees

China will cancel 30 administrative service fee items next year, a move expected to save taxpayers billions of yuan each year.

The measure, scheduled to take effect on Jan. 1, 2013, is expected to save businesses and residents 10.5 billion yuan (US$1.7 billion) each year, according to a statement released Friday on the website of the Ministry of Finance (MOF).

The list of canceled items includes the production cost of tax invoices and resident booklets, enterprise registration fees and housing management fees for tenants, the statement said.

The policy was carried out in a bid to reduce the tax burden on individuals and enterprises and straighten out the taxation and fees system, according to the MOF.