In the first half of the year, a total of 927.9 billion yuan was added for tax reduction, fee reduction, and tax refund deferral nationwide
Beijing, August 5th - The State Administration of Taxation recently released data showing that in the first half of this year, the country added 927.9 billion yuan in tax reductions and deferred tax refunds. Tax incentives and reform measures further promote economic recovery and improvement.
In the first half of the year, the value-added tax exemption policy for small-scale taxpayers with monthly sales below 100000 yuan added a tax reduction of 214.8 billion yuan, the tax collection rate for small-scale taxpayers decreased from 3% to 1%, and the policy added a tax reduction of 82.2 billion yuan. The income tax reduction policy for small and micro profit enterprises added a tax reduction of 79.3 billion yuan, and the policy of gradually reducing unemployment insurance rates continued to be implemented, adding a new tax reduction of 78.7 billion yuan.
By industry, the manufacturing industry and related wholesale and retail industries have the highest proportion, with a cumulative increase of 381.8 billion yuan in tax reduction and fee deferral, accounting for 41%. "The large-scale tax reduction in the manufacturing industry is of great significance. It not only helps the development of the manufacturing industry by reducing the tax burden, but also drives the upstream and downstream industrial chains associated with the manufacturing industry, comprehensively promotes consumption and investment, and effectively promotes economic recovery." said Li Xuhong, Director of the Academic Committee of the National Institute of Accounting in Beijing.
In terms of enterprise scale, small and medium-sized enterprises have benefited the most significantly, with a total of 576.6 billion yuan in new tax reductions and deferred tax refunds in the first half of the year, accounting for 62%. Private economy taxpayers, including small and micro enterprises and individual businesses, have added 704.9 billion yuan in tax reductions and deferred tax refunds, accounting for 76%, and are the main beneficiaries of the policy.
To ensure the accurate and detailed implementation of tax and fee preferential policies, the tax department relies on the electronic tax bureau to accurately push preferential policies for 229 million households, promoting "policy sourcing" and "policy door-to-door delivery". Among the enterprises that had already enjoyed the preferential treatment of R&D expense deduction in advance in July, the number of private enterprises accounted for 94.3% and the amount accounted for 76.6%.
Since the beginning of this year, the tax department has launched 81 convenient tax payment services in 4 batches. "For example, adopting measures to access and reuse 11 proof materials such as the 'Enterprise Financial Accounting System' to reduce duplicate submission of information," said Shen Xinguo, Director of the Tax Service Department of the State Administration of Taxation.
The tax department has also innovatively launched the "tax bank interaction" initiative between the tax and financial departments, helping small and micro enterprises nationwide obtain 4.98 million bank loans, with a loan amount exceeding 1.45 trillion yuan, a year-on-year increase of 41%.
"The tax department continues to promote the full implementation of tax and fee support policies for small and medium-sized enterprises, individual businesses and other business entities, ensuring that policy dividends are directly and quickly enjoyed." Shen Xinguo introduced, for example, comprehensively sorting out tax and fee preferential policies for enterprises, preparing and improving a list of tax and fee preferential policies for small and micro enterprises and individual businesses, and helping taxpayers to conveniently grasp and accurately apply policies. At the same time, we will improve the "exemption and enjoyment" mechanism for tax and fee preferential policies, and provide value-added tax exemptions and exemptions for small-scale taxpayers, small and micro profit enterprises, and individual industrial and commercial households. We will increase the implementation of self declaration and self enjoyment, and continuously expand the scope.
"At present, China's new energy vehicle industry is in a critical stage of large-scale and high-quality development. Continuing and optimizing the policy of reducing and exempting the purchase tax on new energy vehicles is conducive to stabilizing the expectations of new energy vehicle enterprises and consumers, further unleashing the consumption potential of new energy vehicles, and expanding effective demand," said Xu Wen, a researcher at the China Academy of Financial Sciences.
At present, China has policies supporting the development of new energy vehicles in areas such as vehicle purchase tax, vehicle and vessel tax, and consumption tax. For example, since 2012, new energy commercial vehicles have been exempt from vehicle and vessel taxes, and new energy passenger vehicles are not subject to vehicle and vessel taxes; Since September 2014, new energy vehicles have been exempt from vehicle purchase tax; Electric vehicles have not been included in the scope of small car consumption tax collection.
