China's tax, fee income stands at 31.7 trillion yuan in 2022

(ECNS) -- China's tax, fee income in 2022 stood at 31.7 trillion yuan(about $4.69 trillion), among which the tax income registered 16.1 trillion yuan (without the deduction of export tax rebates) and social insurance premium 7.4 trillion, according to the State Tax Administration on Tuesday.

China's tax refunds as well as tax and fee cuts and deferrals had exceeded 4.2 trillion yuan. The total consists of approximately 2.46 trillion yuan worth of value-added tax credits that had been refunded to taxpayers, over one trillion yuan of tax and fee cuts, and over 750 billion yuan of deferred tax and fee payments.