In April, the national value-added tax rebate was about 800 billion yuan, accounting for 53.3% of the annual target, accounting for 37.5% of the fiscal revenue in the same period last year. On the one hand, it reflects that the fiscal policy is actively moving forward to help enterprises rescue and stabilize the macro-economic market. On the other hand, as a write off item of fiscal revenue, it has greatly disturbed the growth rate of tax revenue and public fiscal revenue. Therefore, when understanding the economic operation and financial revenue and expenditure of this month, this disturbance should be eliminated and analyzed in a comparable caliber.
From January to April, the general public budget revenue increased by – 4.8% year-on-year, and the tax revenue increased by – 7.6% year-on-year. Excluding the impact of tax rebate, the general public budget revenue increased by 5.0% year-on-year and the tax revenue increased by 3.7% year-on-year. Non tax revenue increased by 13.4% year-on-year; The cumulative income from the transfer of state-owned land use rights decreased by 29.8% year-on-year; General public budget expenditure increased by 5.9% year-on-year.
