It's Happening....
13 billion yuan saved for enterprises
- Details
- Category: Governmental News
- Published: Tuesday, 22 March 2016 10:32
Over the past year, Ningbo has strengthened its measures in helping local enterprises to reduce cost and promote their development. It is learned from the "precise service and cost reduction" working meeting held on the afternoon of March 18 that according to the preliminary statistics, over the past three years, Ningbo has achieved a total tax reduction of 34.4 billion yuan for local enterprises, including over 13 billion yuan in 2015. Among others, the suspension of VAT and business tax for the micro and small enterprises and business individuals with a monthly sales volume of no more than 30,000 yuan benefited over 400,000 enterprises and individuals.
Over the past few years, Ningbo has attached great importance to the central government policies for steady development and structure adjustment by reducing the tax burdens for enterprises, and it has taken the lead in this regard in Zhejiang Province and even in the whole country. It is noticeable that the various tax burden in Ningbo now is at the low end among all the cities at the same level.
Just before the Spring Festival of 2016, while discussing about the further tax reduction policies, Ningbo Municipal Party Committee and Ningbo Municipal Government decided to strengthen the tax reduction on a larger scale. According to preliminary estimation, the new "35 items" policy is expected to reduce about 20 billion yuan in tax for enterprises, with a newly added reduction of about five billion yuan
