China’s Ministry of Finance (MoF) declared on May 17 that China would implement new combined policies to support tax and fee reduction, expecting to rebate and reduce taxes and fees by around RMB2.5 trillion totally in 2022. The Ministry of Finance will work together with the State Administration of Taxation and other relevant departments to accelerate the implementation of the tax rebate policies, aiming to directly increase cash flow for enterprises and reduce their burdens.
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