Promote strategic emerging industry tax preferential policies to be implemented next year
June 28 07:34:18, 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. One of the main points discussed was the tax growth target set for next year at 8%, which is slightly lower than the current year's actual tax revenue level. This adjustment reflects a more cautious approach to fiscal planning amid evolving economic conditions.
In terms of tax reform, the administration plans to make rational adjustments to the consumption tax rate structure, scope of collection, and taxation methods. These changes aim to enhance the efficiency and fairness of the tax system while aligning it with broader economic goals. Additionally, the Ministry of Finance mentioned that a detailed environmental protection tax reform plan will be developed, further supporting small and micro enterprises, which are vital to China’s economic landscape.
The taxation department also emphasized its focus on structural tax cuts and improving the quality of tax revenue growth. To achieve this, strict measures will be taken to investigate and punish violations of tax laws, ensuring that income growth is genuine and not inflated. This effort is crucial in building reliable financial resources for governments at all levels.
Regarding structural tax reductions, the administration will refine these policies in conjunction with ongoing tax reforms. This includes expanding the pilot program for replacing business tax with value-added tax and promoting policies that support domestic demand, the real economy, and urbanization. The goal is to create a more balanced and sustainable growth model.
In the area of industrial restructuring, the State Administration of Taxation will improve and implement tax incentives for strategic emerging industries and circulation sectors. Special attention will be given to tax policies that support innovation-driven development strategies, as well as those aimed at advancing agricultural science and technology. Continued tax support will also be provided for national independent innovation demonstration zones like Zhongguancun, encouraging technological progress and self-reliance.
Overall, the upcoming tax reforms and policy adjustments reflect a comprehensive strategy to strengthen the tax system, promote economic transformation, and ensure long-term stability and growth.