starting from may 1, china will lower enterprise contributions to urban workers' basic aged-care insurance from 20 percent to 16 percent to reduce enterprises' burdens, minister of finance liu kun said sunday.
5月1日起,城镇职工基本养老保险中企业承担部分将由20%降低至16%,以减轻企业负担。
the country will strengthen efforts on cutting tax burdens and reducing social insurance contributions of enterprises, with the total reduction expected to reach nearly 2 trillion yuan (about 298 billion u.s. dollars) this year, liu said at the china development
1 (cdf) 2019.
the current policy of reducing
2 for unemployment insurance and work injury compensation insurance will continue, with higher
3 to support labor-intensive enterprises' employment and social insurance payments, said the minister.
"we will introduce both general-benefit and
4 tax cuts, focusing primarily on reducing tax burdens on the manufacturing
5 and on small and micro businesses," li said.
reform of china's value-added tax (
6) will start from april 1, cutting the vat rate for
7 including manufacturing from 16 percent to 13 percent.
liu also said nearly 18 million small and micro enterprises benefited from the tax cuts
8 in january,
9 for more than 95 percent of the total number of taxpaying enterprises.
scheduled from saturday to monday, the cdf is the first high-level international conference held in beijing right after the annual sessions of the national legislature and political
10 body.