2 trillion RMB Load Reduction Accelerates Activation of Entity-owned Industries Tax Burden Reduction without Increase

category:Finance
 2 trillion RMB Load Reduction Accelerates Activation of Entity-owned Industries Tax Burden Reduction without Increase


Securities Daily reporters learned that on June 12, the Zhejiang Taxation Bureau of the State Administration of Taxation held a media meeting on Implementing the policy of tax reduction and fee reduction to promote the high-quality development of Zhejiangs economy. The province added 43.029 billion yuan in tax reduction and reduction in the first four months of 2019.

According to the data released by other provinces and municipalities, in the first four months of this year, the scale of tax reduction in Guangdong reached 67.27 billion yuan; the scale of tax reduction and fee reduction in Beijing reached 49 billion yuan; the cumulative increase and reduction in Sichuan Province was 13.7 billion yuan; the cumulative increase and reduction in Shaanxi Province was 8.12 billion yuan; the new increase and reduction in Jiangxi Province was 7.53 billion yuan; and the new increase and reduction in Gansu Province was 3.822 billion yuan.

According to the latest data released recently by the State Administration of Taxation, in the first four months of this year, a total of 524.5 billion yuan of new taxes were added and reduced nationwide. In the first month of deepening the reform of VAT, a net tax reduction of 111.3 billion yuan was achieved, with remarkable results.

Manufacturing industry is an important part of Chinas real economy, and it is also an important focus of implementing tax reduction and fee reduction policies. In this round of VAT tax reduction, manufacturing industry tax reduction ranks first in all industries.

In the first month of deepening the reform of value-added tax, Zhejiang Province realized that tax burden of all industries was reduced but not increased. The total amount of tax reduction amounted to 9.684 billion yuan, accounting for 8.7% of the total tax reduction in the country. Among them, the effect of tax reduction in manufacturing industry is the most obvious. 99.21% of the general taxpayers in manufacturing industry enjoy tax reduction, totaling 4.106 billion yuan, accounting for 47.21% of the total tax reduction scale, and the tax burden dropped by 31.81%. In addition, in the first month of deepening the reform of VAT, private economy in the whole province achieved tax reduction of 7.101 billion yuan, accounting for 81.63% of the total tax reduction, and the tax reduction area reached 98.46%.

According to Chen Zhongming, deputy director of Guangdong Tax Bureau, in the first month of deepening the VAT reform policy, the amount of VAT tax reduction in Guangdong Province reached 13 billion yuan, with a reduction of 27.3%. Among them, the manufacturing industry tax reduction ranks first in all industries. The manufacturing industry in Guangdong Province has reduced VAT by 6.14 billion yuan, accounting for 47.2% of the total VAT amount. The value-added tax reduction for computer, communication and other electronic equipment manufacturing is 900 million yuan, and that for automobile manufacturing is 630 million yuan, which are the two industries with the most significant tax reduction effect.

Zhang Yiqun said that the effect of tax reduction policy is relatively obvious in large economic provinces and developed areas. Because these areas have relatively complete industries and long industrial chains, the tax reduction and deduction effect of VAT is more prominent than other provinces, and the benefits are greater. This is also conducive to the allocation and flow of funds, technology and resources to more efficient and efficient areas, and further strengthens the role of market competition. Effective play.

The effect of tax reduction policy will continue to be released in the future, especially the effect of VAT reduction in manufacturing industry will be further expanded and extended, not only manufacturing industry itself will continue to benefit, but with the extension of VAT tax deduction chain, more production industries and even services will be driven by the effect of tax reduction, which is conducive to the formation of investment upgrading and consumption upgrading, and to Chinas economic stability. Continue to provide momentum. Zhang Yiqun said.

Zhang Yiqun said that in the future, we should continue to pay attention to the effect of tax reduction policy implementation, especially the effect of tax reduction for small and medium-sized enterprises. We should ensure that the tax burden of small and medium-sized enterprises will decrease significantly on the basis of only reducing but not increasing, so that small and medium-sized enterprises can really get a sense of gains and sustainability through the national tax reduction policy. At the same time, we should intensify the reform of state governance, continue to reduce and reduce the administrative, institutional, transactional and monopolistic costs on a large scale, so that the policy dividends of tax reduction and fee reduction can promote the development of enterprises and the consumption space of residents can be more fully released.

Source: Liable Editor of Securities Daily: Yang Qian_NF4425