Tax cuts boost business

Since value-added tax reforms were implemented in April, nearly 300,000 taxpayers in the province’s wholesale and retail trades have benefited from cuts of RMB9.835 billion, reducing their tax bills by almost half (45.52%)

The cuts, which accounted for 33.68% of the total tax reduction across all businesses, excluded Shenzhen, whose tax affairs are administered separately. 

In the first half of this year, the wholesale and retail trade generated sales of RMB2068 billion in Guangdong (including Shenzhen), up 7.7% year on year. 

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