Since 2022, in the face of a stormy international environment and the arduous and arduous domestic reform, development and stability tasks, China's economy has once again demonstrated its tolerance and resilience like the sea. In the first three quarters of 2022, gross domestic product (GDP) increased by 3% year-on-year. Based on the year-on-year growth of 2.5% in the first half of the year, the recovery trend continued to be consolidated.
Over the past year, tax policies have continued to develop. According to the deployment of the 2021 Central Economic Work Conference, new tax reduction and fee reduction policies have been implemented to increase tax relief for small, medium and micro enterprises, individual industrial and commercial households, manufacturing enterprises, etc. Strength of support. As of November 10, the national tax system has processed a total of 3.7 trillion yuan in new tax cuts and fee reductions, tax rebates and tax deferrals, providing assistance for China's economic ship to ride the wind and waves and move forward.
"Retain" the green hills and "stabilize" the course
At the beginning of this year, new combined tax and fee support policies were quickly introduced. On the basis of tax and fee reductions in previous years, a series of targeted innovative measures reflect the Party Central Committee and the State Council's profound insights into the "times" and "trends" and enable hundreds of millions of market entities to live a "good life" courage and determination.
Looking at the new combined tax and fee policy guidelines for 2022, it is not difficult to find that among these policies, there are both phased measures and institutional arrangements; there are both exemption and reduction policies and payment deferrals. , tax rebate measures; there are both generally applicable burden reduction policies and special assistance measures in specific areas; there are both continuing arrangements and new deployments; there are both policies implemented uniformly by the central government and measures independently implemented by local governments in accordance with the law< /p>
Behind the 3.7 trillion yuan in new tax cuts and fee reductions and tax rebates and deferrals are a series of tax refund, reduction and deferral policies that have taken root and taken effect, supporting enterprises to "retain" green hills and supporting China The economic ship "stabilizes" its chassis and course.
——"Withdrawal" opens up a new world
On April 1 this year, large-scale tax refund for excess tax credits began to be implemented. Among the new combined tax support policies, large-scale VAT refunds are the “highlight”. Data show that as of November 10, the total amount of retained tax refunds has reached 2.3097 billion yuan, becoming an important force in helping market entities climb over the hurdles.
Good policies need to be implemented quickly. In order to allow market entities to enjoy the policy dividends as early as possible, the original tax refund tasks for the entire year's remaining tax credits were moved forward to the second quarter, and tax refunds were expanded to seven new industries in July, further increasing the speed of tax refunds.
Good policies need to be implemented steadily. In the process of large-scale VAT refund, the tax department adheres to the five measures of "quick refund of tax, crackdown on fraudulent refunds, strict investigation of internal errors, welcome external supervision, and continuous publicity", and insists on cooperating with the finance, People's Bank of China, public security and other departments. We will work together to ensure that every penny of funds is safely pocketed.
What did the company do with the funds returned to the account?
A corporate sample survey organized by the tax department shows that corporate tax refund funds are mainly used to expand production, technology research and development, and pay salaries. Fan Yong, Secretary of the Party Committee and Professor of the School of Finance and Taxation of the Central University of Finance and Economics, said that the VAT tax refund has effectively alleviated the pressure on corporate capital flows and allowed market entities that have been affected by the epidemic to recover and start to recover.
——"Reduce" the burden of moving forward
Tax rebates allow corporate funds to fall from "paper" to "accounts" and stimulate new vitality. Tax cuts will relieve companies of their burdens and speed them up when they go through hurdles.
Since this year, policies such as pre-tax deduction for equipment and equipment for small, medium and micro enterprises, exemption of VAT for small-scale taxpayers, reduction and exemption of "six taxes and two fees" for small and micro enterprises, and reduction and exemption of corporate income tax for small and micro enterprises have been introduced. The successive introductions have significantly reduced the amount of tax paid by many companies.
Amidst the storm, every market entity is moving forward under the protection of the big ship of the Chinese economy.
For industries that have been greatly affected by the epidemic, taxation continues to convey policy warmth. Since the beginning of this year, policies including the suspension of prepayment of value-added tax by branches of aviation and railway transportation companies, the exemption of value-added tax on income from public transportation services, and the exemption of value-added tax on income from express delivery services have provided timely assistance to struggling industries.
This year, the sunshine of tax cuts also shined on the basic necessities of life that are closely related to the people.
Individuals who meet the conditions for purchasing a house can enjoy personal income tax refund preferential treatment. The "six taxes and two fees" exemption will be implemented for the elderly care service industry. Opening a personal pension account can enjoy corresponding personal income tax preferential treatment. The following special additional deductions for personal income tax on infant care
In realizing the beautiful life picture of "the elderly are provided for, the young are educated, and the children have a place to live", and in satisfying the people's yearning for a better life , taxes use their own "subtraction" to make "addition" to people's happiness.
——"Slow down" and then "work harder"
Since the beginning of this year, policies to postpone the payment of taxes and fees have been introduced one after another. Micro, small and medium-sized enterprises in the manufacturing industry will defer the payment of some taxes and fees, defer the payment of basic pension insurance premiums, unemployment insurance premiums, and work-related injury insurance premiums in phases, and defer the payment of basic medical insurance premiums for employees in phases. The deferred payment of income tax and other "five taxes and two fees" will be extended for 4 months after the expiration of the deferment period.
"Retreat", "reduce" and "slow down" allow the machines to move, the workshops to ring, and the Chinese economy to run smoothly - the word "stability" is at the forefront, which is the criterion for taxation to play its functional role.
Value-added tax invoice data shows that with the rapid implementation of a series of tax support policies, the sales revenue of national enterprises in the second quarter increased by 1.1% year-on-year, reversing the previous decline. Since the third quarter, the sales revenue has increased by 3.4% year-on-year. Showing a stabilizing and improving momentum.
"New" driving forces accelerate "advance"
The report of the 20th National Congress of the Communist Party of China emphasized that innovation is the first driving force. Only by implementing an innovation-driven strategy can we open up new areas and new tracks for development and ensure the steady and long-term development of China's economic ship.
In the first half of the year, the pre-tax super deduction ratio for R&D expenses of small and medium-sized technology enterprises was increased to 100%. In the second half of the year, enterprises will receive more tax red envelopes from innovation.
The State Council executive meeting held on September 7 made it clear that three phased tax reduction policies to support enterprise innovation will be implemented in the fourth quarter of this year to encourage enterprises to increase investment and improve innovation capabilities. Subsequently, the Ministry of Finance, the State Administration of Taxation, the Ministry of Science and Technology and other departments clarified the above preferential matters.
Li Xuhong, director of the Institute of Fiscal and Taxation Policy and Application of the Beijing National Accounting Institute, said that combined tax support policies such as super deductions for R&D expenses can help encourage companies to increase investment in technological R&D, which not only helps Improving the company's own operating conditions to achieve industrial upgrading is also the key to improving overall national strength and increasing economic growth in terms of medium and long-term development.
Tax data shows that as of November 10, high-tech industries and high-tech enterprises have received tax refunds of 405.6 billion yuan, and sales revenue increased by 7.2% year-on-year.
In the context of the rebound of the domestic epidemic and the impact on the industrial production cycle, the high-tech industry still performs relatively well. In the first 11 months, investment in high-tech industries increased by 19.9% ??year-on-year, the added value of high-tech manufacturing increased by 8% year-on-year, and the added value of the equipment manufacturing industry increased by 6.2% year-on-year.
"Expanding" domestic demand has entered new waters
When arranging economic work for next year, the Central Economic Work Conference made it clear that the first point is to focus on expanding domestic demand, and to restore and expand Consumption is a priority.
Consumption is a lasting driving force for high-quality economic development, a key link and an important engine for smooth domestic circulation, and an important part of meeting people's needs for a better life. As one of the "troika" driving economic growth, expanding domestic demand has always been an important focus of China's economic development.
In fact, taxation has been working hard to promote the expansion of domestic demand. Behind "buy, buy, buy", there is more motivation from taxation.
There are new tax incentives for buying a car.
If you buy some passenger cars, you can get a reduction in car purchase tax. The policy of phased reduction of vehicle purchase tax on some passenger cars implemented this year will accurately target the scope of benefits to passenger cars with small displacement, economical type and large proportion.
If you buy a new energy vehicle, you can enjoy the car purchase tax exemption policy. In September this year, this preferential policy started in 2014 was extended for the third time. Experts said that the policy of exempting new energy vehicles from vehicle purchase tax has been extended again, which has stabilized social expectations and boosted market confidence. It is of great significance to promoting the strategic transformation of my country's transportation energy and promoting the high-quality development of my country's automobile industry.
At the end of October this year, the world’s largest duty-free mall, Haikou International Duty Free City, opened. Subsequently, Hainan launched tax-free consumption promotion activities on outlying islands.
Hainan’s outlying island duty-free policy began in 2014. Last year, the annual sales of Hainan outlying island duty-free shops exceeded 60 billion yuan. At present, 24 provinces across the country have implemented departure tax refund policies, including more than 800 departure tax refund shops in Beijing. In the past few years, the coverage of departure tax refund policies has been continuously expanded, and convenient measures such as "buy now and get refund immediately" have been gradually implemented, effectively promoting the development of the tax-free industry.
Over the past year, the taxation and commerce departments have successively introduced a number of policies to support the development of related consumer industries. In terms of promoting the recovery and development of the catering industry, the tax department has implemented various bailout policies to assist enterprises; in terms of promoting the consumption of green smart home appliances, the tax department has fully implemented the VAT refund policy to effectively reduce the financial pressure on enterprises that sell home appliances
< p>The report of the 20th National Congress of the Communist Party of China pointed out that efforts should be made to expand domestic demand, enhance the fundamental role of consumption in economic development and the key role of investment in optimizing the supply structure.In the new era, expanding domestic demand has a new mission in the context of high-quality development and supply-side reform. In this regard, how should taxation be used?
In the "Strategic Plan for Expanding Domestic Demand (2022-2035)", there is no lack of taxation: promoting the healthy and orderly development of the duty-free industry, optimizing fiscal and taxation policies to promote foreign trade development, improving the direct tax system, improving comprehensive and The personal income tax system that combines classification and other contents points out the direction for taxation to promote the expansion of domestic demand.
Expanding domestic demand, increasing residents’ disposable income, and improving the income distribution pattern are the foundation. In the past two years, the personal income tax system has been continuously improved, laying the foundation for improving the income distribution pattern and expanding domestic demand to stimulate consumption.
Today’s China has the world’s most complete industrial system, the largest consumer market, and a total human resources of 220 million people. The Central Economic Work Conference made the strategic judgment that "the economy is expected to rebound overall next year." Wang Jun, Secretary of the Party Committee and Director of the State Administration of Taxation, said in an interview that the economic development goals for next year are scientific, positive, and stable, and the tax department will We must promptly study the tax and fee policies to support economic and social development next year, postpone optimization, improve reforms, make precise efforts, and use good steel on the cutting edge. It is believed that under the influence of various policies, including taxation, China's economy will be able to bravely sail against the wind and not be afraid of "turning back waves". (Reporter He Le)