Promote strategic emerging industry tax preferential policies to be implemented next year
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June 28 07:10:59, 2025
The State Administration of Taxation recently convened a national taxation work conference, where key policy directions and targets for the coming year were outlined. The tax growth target for 2025 has been set at 8%, which is slightly lower than the actual tax revenue growth seen this year. This adjustment reflects a more cautious approach as the government aims to balance economic development with fiscal sustainability.
In terms of tax reform, the administration plans to make rational adjustments to the consumption tax rate structure, the scope of collection, and the method of taxation. These changes are expected to enhance the fairness and efficiency of the tax system while supporting long-term economic transformation.
It is also reported that next year, the taxation department will focus on structural tax reductions and improving the quality of tax revenue. To ensure genuine growth in tax income, strict investigations and penalties will be imposed on illegal activities such as inflating income or falsifying data. This effort is aimed at ensuring that tax revenue accurately reflects real economic performance, thereby providing reliable financial resources for governments at all levels.
Regarding structural tax reduction, the State Administration of Taxation stated that these policies will be further refined alongside broader tax reforms. This includes expanding the pilot program for the transition from business tax to value-added tax (VAT), as well as exploring new strategies to adjust the economic structure. Tax policies promoting domestic demand, supporting the real economy, and encouraging urbanization will also be prioritized.
In terms of industrial restructuring, the government will enhance and implement tax incentives for strategic emerging industries and logistics sectors. Special attention will be given to developing tax policies that support innovation-driven strategies and promote the application of agricultural technology. Continued tax support will also be provided to national independent innovation demonstration zones, such as Zhongguancun, to foster scientific and technological progress.
On the topic of tax reform, the Ministry of Finance emphasized that the consumption tax structure, collection scope, and taxation methods will be adjusted rationally. Additionally, a comprehensive environmental protection tax reform plan is being developed to better support small and micro enterprises, especially those that are struggling to adapt to the changing economic environment.
Overall, the upcoming tax policies reflect a balanced approach that combines reform, regulation, and support for sustainable economic growth.