Abstract [The new tax system is likely to combine the 13% VAT rate and the 11% VAT rate into 11%. This is easier to operate. The specific plan will also wait for the fiscal and taxation department to announce it. On the basis of last year's more than 600 billion yuan tax reduction and fee reduction policy, this year's State Council...
[The new tax system is likely to consolidate the 13% VAT rate and the 11% VAT rate into 11%. This is easier to operate. The specific plan will also wait for the fiscal and taxation department to announce it. ] On the basis of last year's tax reduction and fee reduction policy of more than 600 billion yuan, this year the State Council announced a new round of new tax reduction and reduction of 550 billion yuan. The total scale of tax reduction and reduction in the whole year is expected to exceed one trillion yuan, thus greatly reducing the cost of enterprises. Help companies transform and upgrade.
Due to the biggest tax reduction measures, the business tax reform (VAT reform) has been fully promoted last year, and the tax reduction space will be gradually reduced. Clearing the standardization of enterprise-related charges has become the focus of reducing the burden on enterprises.
Bai Jingming, deputy dean of the China Academy of Fiscal Science, told the media recently that although the scale of tax cuts this year has been reduced compared with last year, this is based on the tax cut of more than 500 billion yuan last year. This is also the case. It can be said that in recent years, the government has done its utmost to reduce taxes and reduce expenses, and the intensity has never been greater.
This year's camp reforms increase or decrease taxes or reach 700 billion yuan
In the context of slowing economic growth, corporate profits have narrowed and tax burdens have increased. In order to reduce the cost of enterprises and release water and fish, the State Council has increased tax cuts and fees in recent years.
Among them, the camp reform is the largest tax reduction measure launched by the current government. With the inclusion of the last four major industries of the construction industry, real estate industry, financial industry and life service industry on May 1 last year, the reform of the camp has been comprehensively pushed forward, and the tax reduction effect has doubled.
According to the implementation of the central and local budgets in 2016 and the report on the draft central and local budgets for 2017 (hereinafter referred to as the “Report on the Draft Budgetâ€), the reform of the camp has increased the annual tax reduction of 573.6 billion yuan, including the above-mentioned four major industries. The tax cut was 174.7 billion yuan.
"This is beyond the expectation of reducing the burden when designing the pilot program." Finance Minister Xiao Jie said at a press conference at the National People's Congress on the 7th.
He said that both the newly-explored industry and the industries that have already been piloted in the previous period, and even the processing and manufacturing industries that have already implemented VAT, have fully realized tax cuts.
On December 27 last year, the Ministry of Finance and the State Administration of Taxation jointly held a briefing on the reform of the media, Wang Jun, director of the State Administration of Taxation, said that the tax cuts in the four major industries, the last year and this year, the partial deduction of real estate deduction and policy In order to improve the impact of the collection and management, the scale of tax increase and decrease in 2017 will be further expanded.
Hu Yijian, an expert in the reform of the camp and a professor at Shanghai University of Finance and Economics, told the First Financial Reporter that the scale of the tax increase and reduction in 2017 may reach 700 billion yuan.
This year's government work report proposes that the VAT rate structure will be simplified. This year, the four-rate tax rate will be simplified to the third level, creating a simple, transparent and fair tax environment, further reducing the tax burden on enterprises.
The current VAT rate is 17%, 13%, 11% and 6%, and how to be a focal point. Many experts interviewed by this newspaper believe that the 13% tax rate this year is likely to be cancelled.
Li Jun, PwC China's central corporate tax business partner, told the First Financial Reporter that the new tax system could combine 13% VAT rate and 11% VAT rate to 11%. Because if the 17% VAT rate is abolished, it will bring greater financial pressure, and raising the low tax rate will make the company more sensitive. Therefore, from the perspective of actual operation, it is easier to operate the 13% tax rate and merge it to the 11% tax rate. The specific plan will also wait for the fiscal and taxation department to announce it.
New tax reduction policy focuses on small and medium-sized enterprises
According to the draft budget report, this year's new tax reduction policy, in addition to the above-mentioned simplified VAT rate, there are three new policies focusing on small and medium-sized enterprises.
One is to expand the scope of small and micro enterprises that enjoy the halving of corporate income tax concessions, and the annual maximum taxable income will be raised from 300,000 yuan to 500,000 yuan.
In the context of the downward pressure on the economy, in order to increase the tax support for small and micro enterprises, China has continuously raised the corporate income tax standard for small and micro enterprises. In 2015, the country raised the standard twice in a row. The upper limit of the income tax for small and micro enterprises to levy half of the enterprise income tax was raised from 100,000 yuan to 300,000 yuan, which is equivalent to all small and micro enterprises enjoying this preferential policy. This time, the standard ceiling will be further raised to 500,000 yuan, which will benefit more enterprises.
The other is that the proportion of R&D expenses for technology-based SMEs has increased from 50% to 75%.
“That is to say, when calculating corporate income tax, SMEs can deduct more R&D expenses before tax. As a financial measure, this policy should also be reduced, but we believe that this policy is more helpful. It is worthwhile to further improve the technological innovation capability of small and medium-sized enterprises, and to reduce the technological innovation capability of small and medium-sized enterprises in exchange for fiscal reduction. Xiaojie said at the above-mentioned press conference.
The introduction of these two new policies means that they need to be linked to the Implementation Regulations of the Corporate Income Tax Law. Because the regulations stipulate that the annual taxable income of small and micro enterprises should not exceed 300,000 yuan. The R&D expenses are deducted to 50%.
In addition, the draft budget report also stated that it will continue to implement six tax reduction policies such as the urban land use tax for logistics enterprises' bulk storage facilities due at the end of 2016.
Xiao Jie said that the implementation of the above-mentioned tax reduction policy can further reduce the corporate tax burden by about 350 billion yuan this year on the basis of reducing the corporate tax burden of more than 500 billion yuan last year.
More than 200 billion yuan in fee reduction
Compared with last year's more than 46 billion yuan of cost reduction measures, this year's fee reduction has increased significantly, which comes from the determination of the State Council.
At the executive meeting of the State Council on February 8 this year, Premier Li Keqiang said that the most common problem that many enterprises are now calling for is that various "fees" are not only numerous but also irregular. A company must correspond to many toll collection agencies, departments, and even intermediary agencies, and the operators are simply not aware of it. Some local and departmental fees are also different, and discretion is too large.
On the afternoon of March 4th, when he participated in the economic and agricultural circles of the National Committee of the Chinese People's Political Consultative Conference, Li Keqiang said: "Cut down the examination and approval is to cut power. It is difficult to cut down the right to charge for administrative services. But for the benefit of the people, Even if the strong man breaks his wrist, he will push this reform."
On March 5, when Li Keqiang made a government work report, he disclosed the detailed five measures for reducing fees. It is estimated that the annual fee reduction for enterprises will be about 200 billion yuan.
The five measures to reduce fees, one is to comprehensively clean up and regulate government funds, cancel the city public utilities additional funds, and authorize local governments to autonomously reduce some funds. The second is to cancel or suspend 35 administrative fees for the central government-related enterprises, and reduce the fees and charges by more than half. The retained projects should be as low as possible. All localities must also cut administrative fees for enterprises. The third is to reduce the government-operated business-related charges, clean up and cancel the administrative examination and approval of intermediary services, and promote the reduction of financial and railway freight transport and other business-related charges, and strengthen the supervision of market-adjusted service charges. Fourth, continue to appropriately reduce the proportion of the “five insurance and one gold†payment. The fifth is to reduce the institutional transaction costs and reduce the cost of energy use and logistics by deepening reforms and improving policies.
Professor Feng Qiaobin of the National School of Administration told the First Financial Reporter that shifting the burden of corporate tax reduction from tax cuts to fee reduction is the right direction. The nationally announced fee reduction plan is in line with expectations and is more vigorous. The government fund was put in the first place of the fee reduction, indicating that the cleanup and the scale of the fee reduction will be larger than before, and the report also explicitly canceled the urban public utility additional income fund.
According to the Ministry of Finance, the fund's 2015 revenue was 29.252 billion yuan. The cancellation of the fund means that the company can reduce the burden by nearly 30 billion yuan.
Xiao Jie said at the above-mentioned press conference that after the clean-up of government funds and administrative fees reform measures were in place, there were 21 national government funds left. There are still 33 items left in the central government-related charging program. A list of specific central and provincial funds and fee lists will be published on the official website of the Ministry of Finance and will be supervised by all sectors of society.
In addition, the work of continuing to reduce the “five insurance and one gold†contribution rate this year has begun. The Ministry of Social Security and the Ministry of Finance have issued a document requesting that the proportion of local unemployment insurance contributions be reduced to 1%.
Feng Qiaobin told the First Financial Reporter that the removal of government funds and administrative fees would be to rationalize the price mechanism behind it, and the roots were to deepen reforms in related fields. For example, reducing the proportion of social security contributions requires further reform of the social security system and reform of state-owned enterprises. After some of the state-owned capital is supplemented with social security funds, it can provide space for further reduction of pension insurance rates. Reducing energy costs requires deepening reform of the power system and so on.
Xiao Jie also said that after the introduction of the tax reduction and fee reduction measures this year, it does not mean that the company's burden reduction work has come to an end. To continue to strengthen the awareness of "water and fish farming", it will not be limited to the small accounts in front of us, but also the big accounts of economic development. We must continue to reduce the burden on enterprises to cheer for the market.
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