Our moves to cut tax on this occasion aim at an accommo

Our moves to cut tax on this occasion aim at an accommo

dative effect to strengthen the basis for sustained growth while also considering the need to ensu

re fiscal sustainability. It is a major decision taken at the macro policy level in support of the efforts to en

sure stable economic growth, employment, and structural adjustments,” Li said in the report.

Value-added tax-a major type of corporate tax der

ived from the sale of goods and services-reductions will benefit most of the companies, said Yang We

iyong, an associate professor at the Beijing-based University of International Business and Economics.

“The VAT reductions can effectively lighten the tax burden of en

terprises, thereby increasing the investment by ent

erprises, boosting demand and improving the economic structure,” Yang added.

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