On July 28, 2026, the State Council’s New Office convened a thematic press conference titled ‘Kick‑off of the 15th Five‑Year Plan,’ during which officials presented an overview of upcoming tax reforms under the upcoming five‑year economic blueprint. The conference outlined several key initiatives aimed at modernizing the tax system, boosting revenue neutrality, and supporting high‑quality growth. Central proposals include the gradual shift from a volume‑based tax to a more value‑oriented structure, preferential tax treatment for high‑tech and green industries, and the simplification of corporate tax filing procedures for small and medium‑sized enterprises. The administration also announced plans to streamline value‑added tax refund processes for exporters and to strengthen digital tax administration through the expansion of electronic filing platforms. Emphasis was placed on the role of tax policy in achieving the nation’s dual‑circulation strategy, with targeted incentives for domestic consumption and innovation. Minister of Finance highlighted that these reforms are designed to create a more predictable fiscal environment, attract investment, and ensure equitable tax burdens across sectors. The press conference concluded with a commitment to ongoing public consultation and the gradual rollout of the reforms beginning in the next fiscal year.
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