Zhongxin Jingwei Client February 3 (Zhang Meng) Recently, except for Tianjin, 30 provinces have successively announced the growth rate of fiscal revenue in 2018. Under the background of tax reduction and reduction in 2019, how can the fiscal revenue of each province be guaranteed? Aroused public concern.
In 2018, the growth rate of fiscal revenue of 22 provinces outperformed the whole country.
According to the Ministry of Finance, in 2018, the national general public budget revenue exceeded 18 trillion yuan, a year-on-year increase of 6.2%.
The Zhongxin Jingwei client consulted the local government's "Government Work Report" and found that the growth rate of fiscal revenue of the 22 provinces last year was more than 6.2%, outperforming the country.
Shanxi Province's fiscal revenue in 2018 was 229.26 billion yuan, winning with a growth rate of 22.8%. The general public budget revenue of Tibet is 23.035 billion yuan, excluding the one-time payment factor, ranking second with a growth rate of 12.9%. The local fiscal revenue of Shaanxi Province was 224.131 billion yuan, ranking third with a growth rate of 11.8%.
In addition to Shanxi, Tibet, and Shaanxi, the growth rate of fiscal revenues in eight provinces of Hainan, Zhejiang, Qinghai, Henan, and Anhui remained at double digits.
It is worth noting that in the first 11 months of Tianjin, the local general public finance income was 1996.33 billion yuan, accounting for 89.1% of the budget, down 14.6% from the same period of last year. As of the time when the Zhongxin Jingwei client issued the manuscript, the financial revenue of Tianjin in 2018 has not yet been announced. In the 2019 Tianjin Government Work Report, only the “continuation of large-scale fee reduction and the reduction of general public budget revenue continued to narrow.” Expression.
Shen Minggao, chief economist of GF Securities, told the Zhongxin Jingwei client that there are two characteristics of inter-regional fiscal revenue growth: First, the provinces with intensified regional differentiation, economic fundamentals and active economic activities can maintain fiscal revenue. Relatively rapid growth does not rule out negative growth in fiscal revenues in some provinces. Second, in the past, fiscal revenue was to increase in speed, and in the future, quality to be increased, and efficiency in improving economic operations was the core competitiveness.
In 2019, many provinces lowered their fiscal revenue growth targets
Data map, new latitude and longitude, Zhang Meng
The Zhongxin Jingwei client consulted the “Government Work Report” of each province and found that in 2019, many provinces indicated that the fiscal revenue growth target was lowered, and Shanxi Province lowered its quota from 22.8% to more than 6.3%.
Beijing's general public budget revenue in 2018 was 575.59 billion yuan, a year-on-year increase of 6.5%, and successfully completed the annual budget target. The expected target for 2019 is lowered to 4%. On behalf of the Beijing Municipal Government, Chen Jining, the mayor of Beijing, put forward in his work report that this year, “the idea of setting up a tight day, the general expenditure reduction should be no less than 5%”.
“In 2018, Shanghai’s local general public budget revenue was 710.815 billion yuan, up 7.0% from the previous year. The Shanghai government’s target for this year’s local fiscal revenue was lowered to 5%, which is also important for corporate tax cuts. Factors. The general expenditure of the government departments this year will be reduced by more than 5%." Shanghai Mayor Ying Yong said at a press conference held on the 31st.
The government work report of Jiangsu Province in 2019 also pointed out that it is necessary to establish a "tight days" thinking. Jiangsu's general public budget revenue in 2018 was 863 billion yuan, up 5.6% year-on-year, and expected to increase by 4.5% in 2019.
Su Jian, director of the National Economic Research Center of Peking University, said that the economy is the basis of finance. The economic foundation determines the fiscal revenue. When the economy has downward pressure, the fiscal revenue growth target is lowered and the law of economic development is followed. In addition, the 2019 country's introduction of a larger tax cut and fee reduction measures compared to last year is also one of the reasons for the downward revision of fiscal revenue growth targets.
Dong Xiwei, deputy dean of Chongyang Financial Research Institute of Renmin University of China, told the client of Zhongxin Jingwei that many provinces lowered the target of fiscal revenue growth, which is related to more uncertain factors inside and outside of 2019. It is necessary to reduce the government's “three public” funds. General fiscal expenditure can give better play to the financial input in other key areas such as people's livelihood.
How to protect fiscal revenue in the context of tax reduction and fee reduction?
On January 15, Xu Hongcai, Assistant Minister of the Ministry of Finance, said at the press conference held by the State Council that the scale of tax reduction and reduction in 2018 was about 1.3 trillion yuan. In 2019, on the basis of tax cuts and reductions in 2018, there will be a larger tax cut and more obvious reductions.
What is the impact of tax cuts and reductions on companies and individuals? Su Jian believes that tax reduction and fee reduction will reduce the business burden of the company to some extent and indirectly increase operating income.
Dong Xizhen and Su Jian’s views coincide. Dong Xizhen believes that tax cuts and fee reductions can alleviate the burden of enterprises, especially small and micro enterprises, and make them develop healthily. This is an important measure for the development of the real economy and an important guarantee for stable employment. Micro-enterprises are an important support for solving employment. Tax reductions and reductions For individuals, a reduction in individual taxes can stimulate personal consumption, and consumption will become the first driver of economic growth in the next few years.
How can the financial revenue of each locality be guaranteed in the context of large-scale tax reduction and fee reduction? Su Jian said that the purpose of tax reduction and fee reduction is to effectively reduce corporate taxes and fees and the personal burden of residents. The economic vitality is enhanced, the economic benefits are improved, and the fiscal revenue that can be collected naturally increases. Local governments should fully implement the tax reduction and fee reduction policies and increase the economic benefits brought by tax reductions and reductions as much as possible.
Su Jian also pointed out that local governments can optimize the structure of fiscal expenditures, improve the efficiency of capital use, minimize expenditures without economic benefits, and use funds to implement them. In addition, local governments can also issue local government bonds. In 2019, the local government debt limit was 1.39 trillion yuan. It is also a way to guarantee the fiscal revenue by issuing bonds within the limits.
In Dong Xizhen’s view, only if the enterprise and the real economy develop well, the tax base will expand. Although the tax rate is lowered a little, the tax revenue will increase. Only if more enterprises develop well, will the fiscal revenue really increase. (Zhongxin Jingwei APP)
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