China Times (www.chinatimes.net.cn) reporter Zhang Zhi reported from Beijing
On March 5, Premier Li Keqiang of the State Council made a "Government Work Report" that clarified the route for stabilizing the macroeconomic market this year, requiring that the economic operation be kept within a reasonable range and continue to do a good job in the "six stability" and "six guarantees" work. Macro policies have space and means, and it is necessary to strengthen cross-cycle and counter-cyclical adjustments to provide strong support for the smooth operation of the economy.
It is worth noting that this year's fee reduction and tax reduction are obvious. The "Government Work Report" clearly states that a new combined tax support policy will be implemented, and tax reduction and tax rebate will be carried out at the same time. It is expected that the annual tax rebate and tax reduction will be about 2.5 trillion yuan, of which vigorously improving the VAT retention and rebate system and implementing large-scale tax rebates for the amount of tax rebates is the "highlight of this year's combined tax reduction and fee reduction". According to the requirements, about 1.5 trillion yuan of tax rebates are retained, and all the tax rebate funds are directly directed to enterprises.
Liu Kun, minister of finance, said on the "ministerial channel" that this year's tax reduction and fee reduction support direction focuses on the manufacturing industry, small and micro enterprises, manufacturing and other 6 industries tax rebate tax reduction scale of 1 trillion yuan, small and medium-sized enterprises and individual industrial and commercial households also benefited from the scale of 1 trillion yuan, precision force.
"The main measure to reduce the burden on market entities this year is the retention and rebate of value-added tax. By refunding the tax that has not yet been deducted in advance, it directly provides about 1.5 trillion yuan of cash flow for market entities. At the same time, we will continue to implement some preferential tax policies, resolutely crack down on tax evasion and tax fraud, and resolutely stop arbitrary collection of fees. Liu Kun said.
Wu Jiayuan, a member of the North China Committee of CPA Australia, told the China Times reporter that from the perspective of GDP, the growth pressure in the fourth quarter of last year increased, and the target of 5.5% this year was lower than last year, so steady growth is the highlight of this year.
A bright spot is that the central government will increase financial support for local governments, subsidy funds directly to cities and counties, local governments and relevant departments should establish and improve the working mechanism, strengthen the dispatch of funds, ensure that the key measure of tax rebate and tax reduction is in place, send charcoal to enterprises, and help enterprises revitalize.
Increase tax cuts
The "Government Work Report" shows that comprehensive consideration is given to providing cash flow support for enterprises, promoting consumption investment, and vigorously improving the VAT retention and rebate system, and implementing large-scale tax rebates for the amount of tax credits this year.
Among them, priority is given to small and micro enterprises, and the tax credit for the stock of small and micro enterprises is fully refunded before the end of June, and the incremental tax credit is fully refunded. The intensity of VAT retention and rebate has been significantly increased to effectively boost market confidence.
In Wu Jiayuan's view, of the 2.5 trillion yuan of tax reduction and rebate policies this year, 1.5 trillion yuan is about tax refunds. From the perspective of the vat system, in the past, only the amount of the tax left at the end of the period was generally allowed to be carried forward to the next period of deduction, and no tax refund could be made. This leads to the problem of capital occupation of enterprises.
"In 2019, we implemented the tax refund system, which conditionally refunds the amount of the tax left on the stock, and further relaxes the time and amount restrictions on this basis. For example, including non-metallic mineral products, general equipment, special equipment, computer communications and other electronic equipment, some general taxpayers in advanced manufacturing can enjoy the tax rebate system, and this year's report, the focus is still on supporting industries, mainly manufacturing, to comprehensively solve the problem of manufacturing, scientific research and technical services, ecological environmental protection, electricity and gas, transportation industry tax rebates. However, we have a reasonable expectation, that is, whether we will consider the application of the relaxation of the tax rebate. For example, high-tech, high-tech or other encouraged manufacturing subdivisions, or referring to the policy support direction of small and micro enterprises, can also consider conditional refund of the manufacturing stock value-added tax. Wu Jiayuan said.
"The tax reduction and fee reduction fully reflects the government's confidence and determination to stabilize the main body of the market, and in many ways exceeds our expectations." In particular, the starting gun of 'focusing on supporting manufacturing' has encouraged our manufacturing companies. Chen Lifen, deputy to the National People's Congress, chairman and general manager of Jiangsu Sunshine Co., Ltd., said, "It will help us adhere to the main business, do a good job as a enterprise, and realize the multiplier effect of exchanging the 'subtraction' of government revenue for the 'addition' of enterprise benefits and the 'multiplication' of market vitality." ”
Chen Lifen introduced that the national preferential tax policy provides strong support for the transformation and development of enterprises, last year, the group enjoyed various types of tax reduction and fee reductions throughout the year reached 29.2 million yuan, and the three subsidiaries retained a single value-added tax to deduct tax rebates, and the funds received were nearly 5 million yuan, which effectively guaranteed the efficient operation of research and development and production.
Zhao Wei, a deputy to the National People's Congress and manager of the auto parts division of Wuxi Weifu High-Tech Co., Ltd., also said: "The simultaneous implementation of 'reduction and retreat' will not only make taxpayers feel more direct and obvious, but also fully release the resilience of China's economy." ”
"The focus of tax reduction and fee reduction is inclined to manufacturing, small and micro enterprises and technology-based small and medium-sized enterprises, which will help enhance the vitality and innovation ability of enterprises." In particular, the further increase in the scale of tax rebates will better revitalize corporate funds, and we are confident that we can use better products to create a more internationally competitive 'Chinese brand'." Zhao Wei said.
Stabilize the main body of the market
According to the requirements, a new combined tax support policy will be implemented this year. Adhere to the combination of phased measures and institutional arrangements, and reduce taxes and rebates at the same time. For example, continue to implement the tax reduction and fee reduction policy to support manufacturing, small and micro enterprises and individual industrial and commercial households, and increase the scope of reduction and reduction and expand the scope of application.
Specifically, small-scale taxpayers are exempt from VAT in stages. For the annual taxable income of small and micro enterprises of 1 million yuan to 3 million yuan, the enterprise income tax will be levied at half. All localities should also introduce effective measures such as tax reductions and exemptions in accordance with the law in light of actual conditions, so that the intensity of tax reduction and fee reduction will only increase, so as to stabilize market expectations.
"Whether it is to increase the fiscal and taxation and financial support for enterprises to stabilize and expand their posts, or to continue to exempt small-scale taxpayers from VAT in stages, and to halve the corporate income tax on the annual taxable income of small and micro enterprises of 1 million yuan to 3 million yuan, it will effectively boost market confidence and make small and medium-sized enterprises more confident to enhance their competitiveness and cope with more complex challenges in the future." Chen Lifen said.
In Wu Jiayuan's view, one of the highlights of the tax reduction in the "Government Work Report" is that the power of tax reduction and fee reduction is delegated to the local government, so that the local tax bureaus can formulate corresponding preferential treatment according to the specific conditions of each place.
"The report mentions that local governments should be given some space, according to the specific conditions of the local area, as well as the needs of local enterprises, make some appropriate adjustment space, and may make some appropriate and appropriate adjustments on different taxes and fees, so that the tax department can make arrangements for landing." I think this is very good, can meet the actual difficulties of taxpayer enterprises according to local conditions, or in the current policy dividend, they can better enjoy the relevant benefits. Wu Jiayuan said.
In addition, the government work report shows that the reform of the fiscal and taxation financial system has been promoted. Deepen the reform of budget performance management and enhance the binding force and transparency of the budget. Promote the reform of the financial system below the provincial level. Improve the tax collection and management system, and crack down on tax evasion and fraud in accordance with the law.
In this regard, the Central Committee of the China Democratic League suggested that at present, the tax legislation needs to be further improved.
It is recommended to improve tax legislation and increase the application of tax law. Formulate the Basic Law on Taxation as soon as possible, speed up the process of tax legislation, realize the legislation of all 18 types of taxes, and revise and complete the Tax Collection and Management Law. Enhance the status and application of tax laws in macroeconomic regulation and control. At the same time, in line with the requirements of development, we will study new tax legislation such as inheritance tax, gift tax, house idle tax, and housing rental tax. Actively solve the problem of local government financial resources through tax legislation.
In addition, regulate tax enforcement. Strengthen education, compress flexibility, and improve awareness of tax compliance. Improve the professionalism of tax justice, and make the last pass for the implementation of the statutory principles of taxation.