Low Tax Revenue Reflects The Macro Situation Of China's Economy

The latest statistics released by the Ministry of Finance show that in April, the national general public revenue was 13502 billion yuan, an increase of 8.2% over the same period last year. The tax revenue was 11727 billion yuan, an increase of 5.8% over the same period last year, an increase that was warmer than the previous month. In particular, the central general public budget revenue grew by 8.1% over the same period last year. Even considering the impact of the 11 government funds transferred to the general public budget this year, the same caliber increased by 7.9%, an increase of 4.9 percentage points over that of March (3%).

However, from 1 to April, the fiscal revenue situation is still not optimistic. The general public budget revenue in the country is 49909 billion yuan, an increase of 5.1% over the same period last year. 11 government funds are considered to be common. Public budget The impact of the same caliber increased by only 3%. Among them, the central general public budget revenue of 21755 billion yuan, an increase of 1.9%, an increase of 1.7% in the same caliber.

"Overall, fiscal revenue growth is still at a low level. To some extent, financial operation reflects the macroeconomic situation. Yang Zhiyong, a researcher at the Institute of Finance and economics of the Academy of Social Sciences, said.

In fact, the multiple financial figures in April reflect the changes in the current economic situation.

Taking value-added tax as an example, in April, the domestic value-added tax was 234 billion 800 million yuan, an increase of 2.4% over the same period last year, although the growth rate picked up from last month, but it is still at a low level of growth compared with the previous two digit growth rate. The actual income growth in the month was two.

The Ministry of Finance said that the slowdown in industrial growth, especially the continuous decline in producer prices, led to a higher tax rate on value-added tax, which was calculated at current prices.

Not ideal. Foreign trade situation It is also reflected in fiscal revenue. In April, the value added tax and consumption tax of imports amounted to 105 billion 200 million yuan, down 14.1% from the same period last year, and the tariff was 22 billion 300 million yuan, down 8.9% from the same period last year. It was mainly affected by the import (RMB) by 16.1% in the month.

In addition, the downturn in the real estate market is also reflected. In April, the real estate business tax fell by 4.6%, continuing downward trend in recent months; the real estate enterprise income tax decreased by 11.9%; the local tax revenue such as deed tax, land appreciation tax and farmland occupation tax decreased by 12.8%, 11% and 18.3%, respectively, resulting in a decline in local level revenue growth.

On the other hand, Expenditure But still maintained a more robust growth. From 1 to April, the total public budget expenditure of the whole country was 45350 billion yuan, 26.4% of the budget, 0.4 percentage points higher than that of the same period last year, an increase of 13.8%, considering 11 government funds transferred to the general public budget and 12.7% growth in the same caliber.

On the whole, while fiscal revenue continues to slow down, financial support remains rigid, making the current financial operation more difficult, and the pressure of revenue and expenditure continues to grim.

If fiscal revenue is low and the pressure of income and expenditure intensifies, if it continues, it will affect the positive fiscal policy. Fiscal policy must be strengthened. First of all, we must ensure that the payments are carried out normally. Yang Zhiyong said.

Against this background, the process of fiscal reform is expected to accelerate. Since the beginning of this year, the State Council has issued a series of tax reduction policies for small and micro enterprises, which will lighten the burden on enterprises and the masses and stimulate market vitality.

At the same time, facing the pressure of financial revenue and expenditure, a series of reform of budget management system around improving the efficiency of the use of financial funds are also being vigorously promoted. At present, the "big move" of deeper reform, such as revitalize the stock of financial stocks and deepen the reform of transfer payment system, has been fully deployed and will be accelerated. It will form a systematic effect of the reform of the fiscal and taxation system with the budget management system proposed last year and the comprehensive regulation of local debt management.

At the same time, the pace of tax reform is accelerating. "In the face of more prominent contradictions in revenue and expenditure, the current tax reform should be a structural reform with an increase and decrease. The levy should be reduced, which will further reflect the role of Taxation in promoting equity." Bai Jingming, deputy director of the Finance Department of the Ministry of Finance said.