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China's Trillion-Yuan Tax Cut

According to a news published on 19th January 2022 on the website of China’s State Taxation Administration: from 2016 to 2021 the total number of new “Tax and fee reduction” has exceed 8.6 trillion yuan nationwide. “Our tax authorities will take further measures to implement more tax and fee reduction policies to better stabilize the economic and promote high-quality development.” Wang Jun the Commissioner of China’s State Taxation Administration said.