Statistics from National Tax Department shows that 524.5 billion yuan tax is deducted over Jan to April nationwide. More than 100 billion tax is deducted in the first month after the reformation. 214.3 billion individual income tax is deducted, accumulatively 1026 yuan per person. Over 99 million workers no longer need to pay individual income tax.
Statistics shows 214.3 billion individual income tax is deducted after reformation, accumulatively 1026 yuan per person. The first step of individual income tax reformation is to raise the threshold and adjust the rate, then 194.5 billion is deducted. The second step is to carry out the new policy of special deduction, 19.8 billion is deducted and over 50.49 million people is favored by this policy. The two steps free 99 million workers from individual income tax.
As the big show in the tax reformation in 2019, 111.3 billion yuan tax reduction is achieved in the first month. The big sun achieved from April 1 and reported on May 1st is affected by two elements; output tax rate is reduced but the input invoice is issued, therefore the relief is relatively more; secondly, real estate bought by the taxpayer brought big input transfer. Manufacture becomes the most benefited by the policy that 47.6 billion yuan is deducted from April as the policy carried out thoroughly, tops the other industries.
Statistics shows small business deducts 62.3 billion yuan during Jan to April under the new policy. Private business and individual operation are the most benefit groups, together 51.9 billion yuan and occupies 83%. Meanwhile, for Jan to April, the threshold for small business taxpayer raises from 30000 yuan to 100000 yuan, 29.42 million taxpayers are benefitted from 49.8 billion yuan tax in total.
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