Core Viewpoint - The article discusses the tax revenue and structural reforms in China during the "14th Five-Year Plan" period, highlighting the expected tax revenue exceeding 155 trillion yuan, which accounts for about 80% of total fiscal revenue, and the continuous optimization of the tax structure with direct taxes surpassing 40% [1][3]. Tax Revenue and Economic Growth - Tax revenue is expected to exceed 155 trillion yuan during the "14th Five-Year Plan," with tax revenue (excluding export tax rebates) projected to surpass 85 trillion yuan [3]. - The tax structure is improving, with direct taxes now making up over 40% of total tax revenue, reflecting enhanced redistributive functions [3]. - The manufacturing sector contributes approximately 30% of total tax revenue, indicating its critical role in the economy [3]. - The growth rate of high-tech industries is notable, with an annual increase of 13.9% [5]. Tax Policy and Economic Impact - The cumulative new tax cuts and reductions are expected to reach 10.5 trillion yuan, significantly supporting economic growth [6]. - The tax policies are particularly beneficial for private enterprises, with 72.9% of the new tax cuts benefiting private taxpayers [7]. - The sales revenue of the private economy has increased from 68.9% in 2020 to 71.7% in the first half of this year [7]. Personal Income Tax and Income Distribution - The implementation of the new personal income tax law has improved income distribution, with the top 10% of earners paying about 90% of personal income tax [9]. - Individuals with an annual income below 120,000 yuan generally do not pay personal income tax after adjustments [9]. - The personal income tax deduction system is extensive, covering various living expenses, which contributes to lower tax burdens for middle and low-income groups [9][10].