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Survey respondents hope tax, fee reductions improve livelihood

Xinhua, March 7, 2016 Adjust font size:

A survey released Monday showed that a majority of 2,005 respondents hope the government's tax and fee reduction policies will improve their lives and make tax levying and management simpler, more transparent and more convenient.

Around 53 percent of respondents surveyed over the week said the government's scheme to reduce and exempt taxes and fees should be consistent with the country's present economic growth level, according to the survey conducted by the China Youth Daily and a survey website.

Some 40 percent of the respondents suggested eliminating unreasonable fees and creating a fairer tax environment, as well as accelerating individual income tax reform, the survey showed.

In 2015, administrative approvals for 311 items were canceled or eased, and tax reductions and exemptions worth 300 billion yuan (46.1 billion U.S. dollars) were implemented to support start-up businesses and innovation.

The Chinese government will moderately increase its deficit-to-GDP ratio this year, which is projected primarily to cover tax and fee reductions for enterprises to reduce their burdens, said a recent government work report.

Measures will be taken to alleviate the financial burden on enterprises and individuals by over 500 billion yuan, the report forecast.

More than half of the respondents said tax and fee reductions will contribute to economic restructuring, expand domestic demand, propel economic growth, and encourage entrepreneurship and innovation, according to the survey.

Meanwhile, more than 30 percent of respondents said tax and fee reductions are conducive to transforming government functions and regulating income distribution.

Obstacles remain for implementing fee and tax reduction policies, Liu Yuanchun, executive dean of the National Academy of Development and Strategy under Renmin University of China, was quoted by the China Youth Daily as saying.

A potential slump in some local governments' revenue, coordination among different agencies, and divergence of opinions among different groups of people pose challenges to effective implementation of the policies, Liu said. Endit