State Administration of Taxation: Take multiple targeted measures to strongly support the development and growth of the private economy

SHANGHAI, Aug 1 (SMM) -

On August 1, Dai Shiyou, director of the Policy and Regulations Department of the State Administration of Taxation, said that the department will take various measures and strive to provide more favorable policies, better services, and more precise and powerful support for driving the growth of the private economy. The department will organize tax authorities at all levels to increase policy publicity and guidance ability, in which the tax and fee policy to promote the development of the private economy will be listed as the key supervision content. This will further promote the implementation of various tax-related measures in the Several Measures to Help Small, Medium, and Micro Enterprises Steady Growth, Adjust Structure, and Strengthen Capabilities. In addition, focusing on the goal of supporting the development of small, medium-sized, and micro enterprises and individual industrial and commercial households, the government will introduce and optimize a number of tax payment service measures, as the fifth batch of measures for the Taxation Convenience Action this year. The measures include strengthening the implementation of tax and fee policies, facilitating tax and fee handling, accelerating demand response speed, deepening cross-border services, and optimizing law enforcement methods. In addition, the government will continue to innovate by launching the tax-banking interaction initiative between the tax and financial sectors to transform the tax credit of the private economy into financing credit to help private enterprises alleviate financing problems.