摘要
'This year we will put more efforts in to tax cuts and fee reductions, to lower the VAT rate and contribution rate for basic retirement insurance. The surplus will amount to RMB 2 trillion,'Premier Li Keqiang said at the press conference during the Two Sessions.He also commented that all types of enterprises will benefit from the tax cuts and fee reductions policies and it will have a very high efficiency as the benefits will be delivered directly to market entities. The VAT cuts took effect from April 1 and pension insurance rate will be lower starting from May 1.
