00:00 Before watching the video, I remind you that there is more content on the ReDian website.
00:04 Anhua said that China's current tax revenue accounts for 11.8% of the total domestic production.
00:11 This is even lower than that of Singapore and Thailand,
00:15 which is the country with the lowest tax revenue in the East Asian countries.
00:19 Therefore, in order to expand the national treasury,
00:21 provide better service quality and help to the people,
00:24 Anhua announced that it would increase the tax revenue of China,
00:27 including the original 6% service tax to 8%,
00:31 and expand the area of tax revenue,
00:34 including logistics, economy, marketing and karaoke services,
00:38 all of which are increased to 8%.
00:40 However, in order not to increase the burden on the people,
00:42 Anhua said that catering and telecommunications services are maintained at the original 6%,
00:48 and the government will also collect luxury taxes.
00:53 Prime Minister Anhua announced that the government will expand tax measures
00:57 to collect 5% to 10% luxury tax on high-priced goods including jewelry and luxury watches.
01:02 The government will pass a new law to impose high-value tax on goods
01:06 with a rating of 5% to 10%.
01:09 Packed goods, watches, based on the value of the price of the goods.
01:15 In addition, the government agreed to impose a tax on all taxpayers
01:19 who have annual income or sales of more than RMB 100 million.
01:24 As for other taxpayers,
01:26 it will be implemented in stages from July 1, 2025.
01:29 The government agreed to impose a mandatory e-invoice to the tax payers
01:36 with an annual income of more than RMB 100 million starting from August 1, 2024.
01:44 As for capital gains tax,
01:45 Anhua announced that the government will start collecting 10% capital gains tax
01:50 from local companies that sell non-listed stocks starting from March 1, 2024.
01:53 In order to support local creators and promote national tourism activities,
02:01 the United Nations government also cut the entertainment tax in this budget.
02:05 Anhua announced that the entertainment tax for local artist performances will be completely exempted,
02:10 while the entertainment tax for international artist performances,
02:15 movie screenings, sports shows, and game shows will be reduced from 25% to 10%.
02:21 In addition to these, Anhua pointed out that
02:24 the entertainment tax for theme parks, family recreation centers, and indoor entertainment centers
02:28 will be reduced from 25% to 5%.
02:32 Thank you for watching.
02:36 For more information, visit www.anhua.org
02:41 [BLANK_AUDIO]
