Financial Observation: Tax support policies add momentum to the development of new productive forces
As a core element in developing new productive forces, technological innovation requires multi-faceted policy support. Effectively implementing structural tax and fee reduction policies and focusing on supporting technological innovation and manufacturing are powerful measures to help the development of scientific and technological innovation enterprises.
This year's "Government Work Report" proposes to implement structural tax and fee reduction policies and focus on supporting technological innovation and manufacturing development. In March this year, the Ministry of Finance, together with the Ministry of Science and Technology, the General Administration of Customs, the State Administration of Taxation and other departments jointly compiled the "Guidelines on my country's Main Preferential Tax and Fee Policies to Support Scientific and Technological Innovation", which covers more than 50 preferential tax and fee policies for scientific and technological innovation. In fact, with the successive implementation of a series of tax policies to support technological innovation, a tax support policy system with wide coverage, strong incentives, and covering all aspects of the entire process of enterprise innovation has been initially formed in my country.
Data released by the State Administration of Taxation show that in 2023, the sales revenue of my country's high-tech industries will increase by 9.8%, which is an increase of 0.5 percentage points from 2022. Judging from the first quarter tax and electricity index released by many places, my country's new productive forces are accelerating the cultivation and development, and high-tech industries are releasing greater potential.
Guangdong is the "head" of the manufacturing industry, with obvious attributes of scientific and technological innovation. The number of national-level "little giants" ranks first in the country. The preferential tax policies for these enterprises will accelerate the development of new productive forces. According to a report released by the Guangdong Provincial Situation Survey and Research Center in February, Guangdong Province’s new quality productivity development layout is early, fast, large in total, and the system is relatively complete. However, some new quality productivity tracks need to make up for shortcomings and strengths and weaknesses.
Today, tax policy dividends are keeping cash flowing. GAC Aian's smart ecological factory is the world's only new energy vehicle "lighthouse factory". Here, a new energy vehicle can complete the entire process from a steel plate to the complete vehicle off the assembly line in only 16 hours.
According to Xu Desi, director of the Finance Department of GAC Aian, the investment amount so far in GAC Aian's "Lighthouse Factory" is between 3.8 billion and 4 billion yuan. The huge capital investment in the early stage has posed a greater challenge to corporate cash flow, and preferential tax policies have played a positive role in improving corporate liquidity. "At this stage, the supporting role of the retained tax refund is outstanding. In the past three years, we have accumulated a tax refund of 945 million yuan, which has revitalized the cash flow of daily operations." Xu Desi said.
The "real money" of tax benefits has effectively solved the capital problems of enterprises. The reporter learned that in 2023, Guangdong will receive 156.2 billion yuan in new tax cuts, fee reductions, tax rebates and deferrals; among which, new tax cuts will be added to the value-added tax credit policy for advanced manufacturing, industrial machine, and integrated circuit enterprises that support technological innovation. 15.1 billion yuan.
Technological innovation makes traditional industries "untraditional", which is a vivid practice of developing new productive forces. In Jiangsu, the taxation department has firmly grasped the "nose" of innovative research and development, implemented structural tax reduction and fee reduction policies, and promoted the smooth conversion of traditional enterprises into new and old driving forces.
CRRC Nanjing Puzhen Rolling Stock Co., Ltd. is one of the representatives of the equipment manufacturing industry in Jiangsu’s traditional industries. Entering the company's "Sun Jingnan Model Worker Innovation Studio", Sun Jingnan is leading corporate developers and front-line welders to compare skills with each other.
"As the traditional equipment manufacturing industry moves towards the high end, it must rely on digital empowerment to 'strengthen the chain'. This is a job with large investments and a long cycle. The burden reduction brought by preferential tax and fee policies gives companies more motivation to invest in R&D and innovation ." Sun Jingnan said. It is reported that in 2023, the company will enjoy tax preferential policies of more than 100 million yuan and invest nearly 470 million yuan in research and development.
In Chengde City, Hebei Province, tax policies have also further contributed to the transformation of industrial structure. “With the help of the tax department, in 2023 alone we have enjoyed nearly 2.5 million yuan in tax incentives to support R&D and innovation, including the super deduction of R&D expenses, allowing us to invest more funds in accelerating product R&D and industrial development. In terms of upgrades, the overseas market orders from January to February this year were more than 700,000 US dollars, an increase of nearly 2 times year-on-year. We will also expand production this year and sell our products to more countries." Chengde Huafu Glass Technology Engineering. The financial director of the company said.
