China unveils new administrative fee cuts from July

CNC
Added On June 25, 2019

China will introduce new administrative fee cuts to implement the reform of tax and fee cuts for enterprises and individuals, reduce social burdens and support the development of real economy.
 
Economy Report has the details.
 
According to the National Development and Reform Commission, fee cuts for travel document, trademark registration and radio frequency will come into effect from July 1, 2019.
 
Administrative fees for personal regular passports will decrease by 40 yuan to 120 yuan, or 17.5 U.S. dollars.
 
Registration fees for trademark renewals will decrease 50 percent to 500 yuan and the fees for changing trademarks will fall from 250 yuan to 150 yuan.
 
In 2018, China reduced the tax and fee burden on enterprises and individuals by around 1.3 trillion yuan.
 

The country will reduce the tax burden on and social insurance contributions of enterprises by nearly 2 trillion yuan this year.