National fiscal revenue increased by 3.1% year-on-year in the first July

On August 16, the Ministry of Finance released the national fiscal revenue and expenditure data in July before the announcement: from January to July, the national general public budget revenue totaled 12562.3 billion yuan, an increase of 3.1% over the previous year, of which the tax revenue was 10804.6 billion yuan, an increase of 0.3% over the previous year. The national general public budget expenditure was 1379.63 billion yuan, an increase of 9.9% over the same period last year.

"From the data of July before, the overall situation of fiscal revenue and expenditure is stable, which meets the budgetary requirements at the beginning of the year, reflects the effect of tax reduction and fee reduction, and reflects the steady and progressive development trend of the economy." Bai Jingming, vice president of the Chinese Academy of Financial Sciences, said in an interview with a reporter from the Economic Daily.

Statistics show that the domestic value-added tax increased 5.4% in the first July compared with the same period last year, and the growth rate fell 9.5 percentage points, mainly due to the policy of reducing the value-added tax rate last year and the effect of the new increase and reduction of the value-added tax this year. Enterprise income tax was 3036.9 billion yuan, an increase of 4% compared with the same period last year. The growth rate fell by 9.4 percentage points compared with the same period last year. It was mainly affected by the increase of pre-tax deduction ratio of R&D expenditure and the inclusive tax relief for small and micro enterprises. In July before

, the value-added tax and consumption tax of imported goods decreased by 5% compared with the same period last year, mainly affected by the decline in the growth rate of general trade imports and the reduction of the value-added tax rate of imported goods. Individual income tax was 643.3 billion yuan, down 30.3% from the same period last year, mainly due to the policy of raising basic cost reduction standards, adjusting tax rates and the superimposed release of the tax reduction effect of adding six special additional deductions this year. At the same time, the income related to the fee reduction policy continued to decline. The special income, including the education fee surcharge, and the administrative fee income declined by 3.1% in the same period last year. From January to July this year, the income related to the fee reduction policy dropped by 0.8% compared with the same period last year. The above data show that the effect of tax reduction and fee reduction has been fully reflected. The pattern of benign interaction between this round of larger-scale tax reduction and fee reduction and economic operation has been formed. For example, under the drastic tax reduction, VAT and enterprise income tax still maintain steady growth, and domestic consumption tax has reached a growth rate of 21.1%. This shows the positive role of large-scale tax reduction in stimulating market vitality, stabilizing business expectations, and promoting investment and consumption. Bai Jingming said. Financial expenditure

< p> continued to grow rapidly. From January to July, the growth rate of the national general public budget expenditure was 3.4 percentage points higher than that of the annual budget of 6.5%. Among them, the central general public budget expenditure at the corresponding level was 1960.8 billion yuan, an increase of 9.5%, while the local general public budget expenditure was 1183.5 billion yuan, an increase of 10%. By the end of July, the central government allocated 64.9% of the budget for transfer payments. Key expenditure budgets were well implemented, expenditure on education and science and technology increased by 9.6% and 17.7%, expenditure on social security, employment and health increased by 7.9% and 8.3%, respectively. "With the general slowdown of fiscal revenue in various regions, it is necessary for the central government to speed up the allocation of funds for transfer payments. The sustained rapid growth of financial expenditure shows that the level of budget management in China is constantly improving, which can ensure that funds are in place in a timely manner. Bai Jingming said. How to deal with the pressure of revenue and expenditure balance brought about by tax reduction, fee reduction and expenditure acceleration? Multi-channel activation of state-owned capital assets to increase non-tax revenue has become an important measure.

From January to July this year, the national non-tax revenue increased by 24.8%, mainly through vigorously revitalizing state-owned funds and assets to drive the increase of related income. Central non-tax revenue increased by 1.8 times, mainly the profits handed over by specific state-owned financial institutions and central enterprises, and the dividend income of some central financial enterprises. The total increase was 212 billion yuan, accounting for 61% of the increase in national non-tax revenue. Local non-tax revenue increased by 10.7%, mainly due to the increase of 85.6 billion yuan in the paid use of local state-owned resources (assets) over the same period of last year, accounting for 24.5% of the increase in national non-tax revenue. Reducing administrative operating costs is also an important part of coping with the pressure of revenue and expenditure. Through years of continuous reduction, the expenditure of "three public" funds at the central level has declined year by year, 46.2% lower in 2018 than in 2012. The Ministry of Finance has also formulated and issued a number of documents, which provide for strict departmental budget preparation, standardization of departmental budget implementation, strengthening the management of departmental assets, and promoting the disclosure of information on budget and final accounts.