Tax incentives "reduce" negative linkage financial "increase" capital - precise support of financial and tax policies for enterprise observation
Xinhua News Agency, Beijing, August 30 (Xinhua) - The Economic Reference Daily published an article on August 30 titled "Tax and fee incentives" reduce "negative linkage finance" increase "capital - precise support of financial and tax policies for enterprise observation". The article states that fiscal funds should play a guiding role in supporting innovative development of enterprises; Implement the policy of reducing taxes and fees, and reduce the burden on enterprises; Collaborative linkage of fiscal and financial policies helps enterprises expand financing channels... Recently, reporters have learned from interviews in multiple places that a series of financial and tax support policies are precise and directly accessible to entities, adding impetus to the development of enterprises, especially small and medium-sized enterprises.
Entering the production workshop of Jiangxi Baiying Sports Technology Co., Ltd., one can see an intelligent production line occupying it. The cut leather material is transported to the workstation by the machine belt, and with the cooperation of the machine and workers, a pair of sports shoes are molded and assembled into shape.
"Last year, the company invested nearly 10 million yuan in independent brand research and development, intelligent device upgrades, and further improved production efficiency." The company's CFO, Zeng Mingsheng, said that behind the company's bold investment in research and development transformation, it cannot be separated from the support of tax preferential policies. According to him, the transition from technology investment to achievement transformation is a long-term process, in which funding is crucial. In the first half of the year, the company enjoyed a deduction of over 6 million yuan in research and development expenses and a tax reduction of 1 million yuan. It is expected that the investment in research and development expenses will reach 13 million yuan this year.
Tax and fee preferential policies are an important part of financial and tax support policies for the development of enterprises. For example, in July of this year alone, more than 300000 enterprises across the country enjoyed this policy dividend by deducting taxes and fees from R&D expenses.
The tax and fee preferential policies are also being further strengthened and implemented in detail. In early August, the Ministry of Finance and the State Administration of Taxation announced 10 more tax and fee preferential policies to support small and micro enterprises and individual businesses. For example, interest income obtained from small loans issued by financial institutions to small enterprises, micro enterprises, and individual businesses is exempt from value-added tax.
It is worth noting that financial and tax policies help the development of small and medium-sized enterprises, not only by reducing their burden through tax and fee preferential policies, but also by coordinating with financial policies to provide blood and nourishment for enterprises.
"We took a spaceship and saw the former Garden of Ten Thousand Gardens through the time mirror of the little monkey, which was particularly shocking!" The elementary school students who participated in the 2023 Summer Camp of the Old Summer Palace praised the experience of the "Old Summer Palace 720 Time Crossing Spaceship".
The person in charge of Shouwang Experience Technology and Culture Co., Ltd., the production enterprise of "Yuanmingyuan · 720 Traversing Spacecraft", told reporters that as a technology-based enterprise engaged in research and development, production and sales of the world's first 720 capsule spacecraft cinema, the smooth and timely promotion of the Yuanmingyuan cooperation project cannot be achieved without the strong support of Shichuang Guarantee, a subsidiary of Beijing Small and Medium sized Enterprise Financing Re guarantee Co., Ltd. "Last year, we urgently needed a purchase fund for the assembly parts of the 720 spacecraft cinema. Shichuang Guarantee provided financial support for our project progress in collaboration with the bank as soon as possible," the person in charge said. It is understood that since the beginning of this year, Beijing Re Guarantee and its affiliated Shichuang Guarantee have provided a total of 1.371 billion yuan in financing guarantee support to 351 technology-based small and medium-sized enterprises.
"Playing the role of government financing guarantee institutions" is one of the examples of fiscal and financial policy coordination to expand financing channels for enterprises.
"Carry out government, bank, and enterprise financing docking work to achieve mutual benefit and win-win in local economy, financial inclusiveness, and enterprise development." Tao Naiya, the Finance Director of Xuanwei City, Yunnan Province, said in an interview with the Economic Reference Daily that the local government is conscientiously implementing interest subsidy and reward policies for entrepreneurship guarantee loans, increasing support for interest subsidy policies for entrepreneurship guarantee loans, and expanding the scope of policy support for entrepreneurship guarantee loans. Further increase interest subsidy support for small and medium-sized enterprises, encourage financial institutions to optimize loan processes, and improve the accessibility of interest subsidy policies for small and micro enterprise entrepreneurship guarantee loans.
Dong Ximiao, Chief Researcher of Zhaolian, stated that small and micro enterprises and entrepreneurs generally lack effective collateral, which is a weak link in financial services. Continuously improving the government led financing guarantee system and establishing entrepreneurship guarantee funds will, on the one hand, provide credit enhancement support for small and micro enterprises and entrepreneurs, improve the accessibility of their financial services, and enhance the ability of financial institutions to "be willing to lend" and "dare to lend"; On the other hand, it will also reduce the financing costs of small and micro enterprises and entrepreneurs, improve financing efficiency, and avoid them obtaining financing through private lending and bridge financing.
In the collaborative efforts of fiscal and financial policies, the innovative use of tax credit ratings has also expanded financing channels for small and medium-sized enterprises.
"Thanks to Caiyuan Credit Connect, we have obtained a financing of 10 million yuan," said Bai Ru, the financial manager of Jiangxi Hongxin Optical Technology Co., Ltd. The Caiyuan Credit Connect mentioned by Bairu is a project launched by Shangrao Economic and Technological Development Zone for small and medium-sized enterprises that comply with national industrial policy support, have paid taxes of over 50000 yuan in the previous year, and have paid taxes normally in the current year. This helps to solve financing difficulties and high financing costs by providing guaranteed and unsecured loans. It is reported that the Jiangxi Provincial Taxation Bureau of the State Administration of Taxation takes "bank tax interaction" as the starting point to transform corporate tax credit into financing credit. By building the "Jiangxi bank tax interaction service platform", the platform shares real-time information such as corporate tax credit, tax declaration and payment, and financial statements with banking institutions based on taxpayer authorization, achieving taxpayers to "apply online at any time and complete online in real-time". Loans can be easily obtained without leaving the house, and the financing time to account has been reduced from an average of 7 working days to the fastest 5 minutes.
Wang Dehua, a researcher of the Institute of Financial Strategy of the Chinese Academy of Social Sciences, said that in the current context, actively promoting "bank tax interaction" and giving SMEs greater financing support can help them recover and expand their business faster and enhance their vitality.
The report of the State Council on the budget implementation since the beginning of this year was submitted for review at the 5th meeting of the 14th National People's Congress Standing Committee on August 28th. The report proposes to "implement relevant tax and fee support policies", "strengthen the coordination and cooperation of fiscal, monetary and other policies, and better leverage synergies.". The Ministry of Finance recently issued a notice stating that all regions should increase their efforts and fully implement various financial and tax policies to support the development of small and medium-sized enterprises, providing strong guarantees for promoting the high-quality development of small and medium-sized enterprises.
Industry insiders say that looking ahead, policies such as fiscal fund guidance, tax incentives, and fiscal and financial policy coordination will be further implemented and refined, adding vitality and momentum to the development of enterprises, especially supporting the accelerated development of small and medium-sized enterprises, individual businesses, and others.
