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Chinese officials have pledged more aggressive reductions in
2019, after cutting about 1.3 trillion yuan ($192.82 billion)in
taxes and fees last year.
"We will step up new tax and fee cuts this year on the basis (of
last year) to lower companies' burden, stimulate vitality of
firms and promote economic growth," Liu said, adding that
value-added tax (VAT) would be reformed.
Policy insiders expect the government to cut VAT, which ranges
from 6 percent for the services sector and 16 percent for
manufacturers.
Tax cuts for small and private firms from Jan. 9 will lower
their costs by 200 billion yuan a year, he said.
Liu also said the government was studying a plan to lower social
security fees to reduce the burden on small companies. He said
China's proactive fiscal policy would send a clear signal to
companies.
(Reporting by Kevin Yao and Min Zhang; Writing by Se Young Lee;
Editing by Nick Macfie)
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