China Saw 1.1 Trillion Yuan in New Tax and Administrative Fee Reductions in 2021

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China continued efforts to reduce the tax burden on small businesses in 2021, according to the latest figures from the State Taxation Administration (STA).

China’s new tax and fee reductions totalled approximately 1.1 trillion yuan in 2021, according to figures released by STA deputy head Wang Daoshu (王道树) on 26 January at a state press conference.

This included 216.2 billion yuan in tax and fee reductions for micro, small and medium-sized enterprises in the manufacturing sector, as well as 27.1 billion yuan in “reductions, remittances and easing” for coal power and heating companies.