Personal tax revenue in the first 11 months decreased by 26.8% year on year

On December 17, the Ministry of Finance announced the financial revenue and expenditure for the first 11 months of this year. Data shows that from January to November, the national general public budget revenue reached 17896.7 billion yuan, an increase of 3.8% year on year. Among them, tax revenue was 1496.9 billion yuan, up 0.5% year on year; non tax revenue was 2926.8 billion yuan, up 25.4% year on year. Authoritative experts pointed out to the reporter of "daily economic news" that the recent tax revenue growth picked up slightly, mainly due to the consideration of introducing a larger scale of tax reduction and fee reduction in the fourth quarter of last year. In order to support enterprises to rescue as soon as possible, the tax authorities handled some tax payment delays according to law, resulting in a lower income base in the same period of last year. The effect of individual tax reform and tax reduction continued to show in the fourth quarter of last year.

The tax authorities handled some tax deferrals according to law, resulting in a lower income base in the same period last year. After deducting this factor, China's tax revenue fell by an average of about 3% from October to November this year, continuing the trend of continuous negative growth since May, the above authoritative expert told the daily economic news. From the perspective of the situation in November, the main tax categories decreased or increased slightly year on year: the domestic value-added tax increased by 2.3%, down 7.1 percentage points from the same period last year, mainly affected by the end of the policy of reducing the value-added tax rate last year and the further expansion of the effect of new value-added tax reduction this year. Corporate income tax increased by 5.7%, down 3.6 percentage points from the same period last year, mainly affected by factors such as increasing the pre tax plus deduction ratio of R & D expenses, and inclusive tax relief for small and micro enterprises. In addition, the income of individual income tax has dropped a lot compared with last year. The new individual income tax law will come into full force on January 1, 2019. On the basis of the basic deduction standard from 3500 yuan / month to 5000 yuan / month on October 1, 2018 and the implementation of the new tax rate table, six special additional deductions will be implemented from January 1, 2019, including children's education, continuing education, serious illness medical treatment, housing loan interest, housing rent, and supporting the elderly. What is the tax reduction effect of such a strong individual income tax reform? Data shows that the overall income of individual income tax in the first 11 months showed a large decline.

From January to November, the personal income tax revenue was 950.2 billion yuan, down 26.8% year on year, with a growth rate of 43.8 percentage points lower than that of the previous year. In November, the personal income tax revenue was 72.6 billion yuan, up 3.6% year on year. This is the first positive growth in a single month since this year, mainly due to the disappearance of the tail effect of last year's policy of raising the basic cost reduction standard and adjusting and optimizing the tax rate structure. At the same time, relevant departments are also activating state-owned resources assets and increasing non tax revenue. From January to November this year, China's non tax revenue totaled 2926.8 billion yuan, a year-on-year increase of 593.6 billion yuan, or 25.4%. The high growth rate is mainly due to such factors as turning in profits through specific state-owned financial institutions and state-owned enterprises and activating state-owned resource assets. Among them, the operating income of state-owned capital was 744.6 billion yuan, an increase of 460 billion yuan, an increase of 1.6 times over the same period of last year, and a 20% increase in non tax income nationwide. It is mainly the profits handed in by specific state-owned financial institutions and central enterprises of 610 billion yuan, an increase of 360 billion yuan on a year-on-year basis. The income from paid use of state-owned resources (assets) was 691.7 billion yuan, an increase of 92.2 billion yuan or 15.4% year-on-year, which increased the national non tax income by 4 percentage points. The total increase of the above two items accounted for 93% of the increase of national non tax income, and increased the increase of national non tax income by 24 percentage points.

At the same time, enterprise related charges decreased year on year. In recent years, a series of fee reduction policies have been successively introduced, which has resulted in a sharp drop of 17.6% in the revenue of administrative fees in the same period last year, and only an increase of 0.5% from January to November this year. Among them, the construction administrative revenue decreased by 36.4%, the market supervision administrative fees decreased by 32.8%, and the industry and information industry administrative fees decreased by 17.3%. In terms of financial expenditure, in the face of the pressure of reducing revenue brought by tax reduction and fee reduction, financial departments at all levels have taken the initiative to tap the potential to increase revenue, maintain a certain intensity of financial expenditure, and support the implementation of major national strategies, key reforms and important policy measures. Data shows that from January to November, the national general public budget expenditure increased by 7.7% year on year, 0.9 percentage points higher than the same period last year. Among them, the central general public budget expenditure at the same level was 3044.4 billion yuan, up 8.3% year-on-year; the local general public budget expenditure was 17601.9 billion yuan, up 7.6% year-on-year. In terms of sub projects, from January to November, the expenditure on education, science and technology increased by 8.7%, 8.9%, the expenditure on social security, employment and health increased by 8.5%, 9.1%, the expenditure on energy conservation and environmental protection increased by 14.3%, and the expenditure on urban and rural communities increased by 8.2%.