Chongqing - On January 22, the Chongqing Municipal Taxation Bureau announced a 598% year-on-year increase in the city's departure tax rebate program. Total sales of tax rebate goods exceeded 35.61 million yuan ($4.89 million), and rebates totaled 4.36 million yuan.
Tax officials from Chongqing Liangping District Tax Bureau visited Liangping Airport Management Co., Ltd. to explain tax policies related to the general aviation service industry. (Photo/Guo Rui)
This growth is attributed to the expansion of departure tax rebate stores to 88 locations, including three pilot "immediate tax refund" stores, further invigorating the city's retail sector.
In 2024, the Chongqing Municipal Tax Bureau launched 17 initiatives to support high-tech enterprises, in line with directives from the State Administration of Taxation. Through the e-tax bureau and the tax-enterprise interactive platform, tax policies and operational guidelines were pushed to 6.89 million households.
These measures have spurred economic activity, with tax-related business entities surpassing 2.23 million households. In the first 11 months of 2024, tax cuts, fee reductions, and refunds exceeded 30.3 billion yuan, injecting momentum into Chongqing's manufacturing and innovation sectors.
Invoice data revealed robust growth in key industries. Sales revenues from high-tech industries, core digital economy sectors, and strategic emerging industries increased by 13.8%, 9.5%, and 9.7% year over year, respectively. This reflects the city's accelerated development of new, high-quality, productive forces.
Nationally, China introduced a series of economic policies in 2024 to expand domestic demand and stabilize the real estate market. Chongqing's tax authorities actively implemented these policies with notable results.
Since December 1, when the new deed tax policy was rolled out nationwide, Chongqing has seen 510 million yuan in tax reductions and exemptions, benefiting 35,300 households and further stimulating the housing market.
Furthermore, Chongqing has implemented a "reverse invoicing" policy to address the challenges faced by resource recycling companies in obtaining the first invoice, thereby reducing their tax burden.
This policy has spurred large-scale equipment renewal and consumer goods trade-ins, with 34,000 cases processed in 2024. It has led to a 14.5% year-on-year increase in machinery purchases, a 10.4% rise in household appliance sales, and significant growth in the manufacture of intelligent vehicle-mounted equipment and unmanned aerial vehicles.
China's "reverse invoicing" policy, effective April 29, 2024, allows resource recycling companies to issue invoices directly to individuals selling scrap products. This streamlines the VAT deduction process, reduces operational costs, and boosts the recycling sector's efficiency.
This year marked the fifth anniversary of the Chengdu-Chongqing economic circle. Chongqing and Sichuan unified 79 tax and fee policies, facilitating over 1 million transactions and boosting trade to 900 billion yuan, up 6.1% year over year.
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