Precise measures for tax and fee cuts, structural tax cuts are expected to introduce detailed rules

Original title: Precise measures for tax cuts and rate reductions, structural tax cuts are expected to introduce detailed rules

In the first year of the XIV Five-Year Plan, the focus of fiscal and tax reforms still revolves aroundTax cutsHowever, compared to the central government’s specific plan for tax reduction targets in 2020, the 2021 “Government Work Report” proposes to continue “optimizing and implementing tax reduction policies” and “helping” various market entities.

The “China Business News” reporter learned that in various implementation policies to “help” various market entities, improvemanufacturingAdditional deductionProvide deeplybusinesswelcome.

Representative of the National People’s Congress, Zhubajie Co., Ltd.the companyFounder Zhu Mingyue said that to encourage business innovation, this year’s “Government Work Report” continued the policy of deducting R&D expenses and increased the ratio, which is an important benefit for the manufacturing industry. that in 2020, other group companies will enjoy supporting small, medium and micro enterprises.Business developmentThe tax reduction and exemption is close to 9 million yuan.

　　Promote investment in R&D

The “Government Work Report” emphasizes that this year it will continue to implement the policy of 75% business R&D expenditure plus deduction, and increase the proportion of manufacturing companies to 100%, and use tax incentives to encourage companies to increase investment in R&D.

On March 10, Chongqing Wei’an Detector Manufacturing Co., Ltd.Corporate financeThe person in charge Peng Deng told reporters that after the increase in the deduction rate for R&D expenses, an additional 4 million yuan of costs can be deducted annually. From a tax burden perspective, the impact on the business is relatively obvious.

Self-knowledgepropertyNational high technologyindustry, The company’s investment in research and development continues to increase. Relevant data shows that the company’s R&D investment in 2020Invest inJin reached 13.88 million yuan and enjoyed an additional deduction of 10.41 million yuan for research and development expenses.

After the country increased the R&D expense deduction policy, the additional deduction rate was also increased from the original 75% to 100% .In this regard, Peng Deng calculated an account based on the estimated R&D expense. D of the company 16 million yuan in 2021. After the increase in the ratio, it is equivalent toCorporate taxAn additional cost of 4 million yuan before tax can be included. “With the support of these policies, companies will increase their investment in research and development spending in the future,” Pendeng said.

At present, the company is developing pressure transmitters in conjunction with China General Nuclear Power Corporation, a technology that has been monopolized by the United States, and if it can be overcome successfully, the import will take place.productThe location of the company is more conducive to the future development of the company, especially in theinternational marketTake more initiative.

Fan Yong, a professor at the Central University of Finance and Economics, said that by motivating companies to increase investment in R&D, they can bring considerable benefits to companies.profitAnd free cash flow, which, to some extent, amounts to providing financial support for companies’ investment in R&D in new fields of technology and helping to improve their ability to sustain growth.

The journalist learned that the R&D expense deduction policy is primarily to encourage companies to increase investment in R&D through a preferential tax mechanism. In 2008 the “Corporation Tax Law” and its implementing regulations were promulgated, for which the preferential policy of R & D & I expenses plus deduction was officially ratified.

After that, its scope was also changed by technologySMEsPromote all industries and companies applicable to super deduction. This year’s “Government Work Report” proposed that the continuation of the aforementioned preferential measures be confirmed and that the proportion of R&D expenditures for manufacturing companies be increased to 100%.

On the impact of this policy on companies, Fan Yong said that there are currently three main categories and five preferential tax policies that encourage companies to innovate in technology. Among them, the R&D cost plus deduction policy is more inclusive and practical, and can better serve to stimulate business R&D.

　　Structural tax cuts

In 2020, my country will implement large-scale tax and fee reductions in stages, combined with institutional arrangements, to reduce the burden of market entities by more than 2.6 trillion yuan throughout the year, of which reductions and exemptionsSocial SecurityCosting 1.7 trillion yuan, further reducing the tax burden of the manufacturing industry has also become an important content of the reform.

By adjusting fiscal policies, we will increase support for R&D activities of companies, especially advanced manufacturing companies, and help my country’s manufacturing industry.Industrial chainHigh-level climbing provides the impetus. The “Fourteenth Five Year Plan” and the outline of long-term goals for 2035 (draft) propose that my country should strive to be at the forefront of innovative countries by 2035.

Fan Yong believes that increasing the percentage of deductions for manufacturing enterprises to 100% will play an important role in stimulating independent innovation in the manufacturing industry, promoting the transformation and upgrading of the manufacturing industry, and continuously moving from the low-end to the high-end. -End in the industrial chain.

　　National Statistical OfficeData shows that in 2017, my country’s total spending on research and social development reached 1.76 trillion yuan, which representsGDP(GDP) 2.15%. In 2018, after the policy of increasing the deduction rate of corporate R&D expenses to 75% was expanded from small and medium-sized technology-based companies to all companies, the R&D expenses of the entire society in my country and 2019 increased significantly. Among them, my country’s total spending on social R&D in 2019 reached 2.17 trillion yuan, representing 2.19% of GDP, which is close to the average level of the 15 EU countries. The World Intellectual Property Organization assessment shows that China’s innovation index ranks 14th in the world, and overall innovation capacity has vastly improved.

However, from a global perspective, the current total tax rate for Chinese companies is still at a relatively high level. China Academy of Fiscal SciencesResearchIt shows that the current “fiscal sentiment” of some companies is still relatively heavy, mainly due to my country’s imperfect tax system, narrow tax base and unbalanced fiscal distribution.

“Previously, my country has increased its tax cuts for manufacturing industries by reducing the rate of value added tax and implementing tax rebates. This year’s” Government Work Report “proposes to implement a policy of reducing taxes. structural tax. More structural tax cuts are expected in 2021. The introduction of tax policy is more obvious from a policy content perspective. ”A tax official predicted this.

The person explained that the so-called structural tax cuts are primarily aimed at specific types of taxes and are based on specific purposes to reduce the level of tax burden. According to historical experience, the effect is mainly reflected in the decrease in the real tax burden of companies.

The 2021 “Government Work Report” proposes to implement new structural tax reduction measures to cover the impact of some policy adjustments. “Based on the current downward pressure on my country’s economy, the future burden on businesses can be reduced through further structural tax reduction measures. For example, the tax rate and the adjustment of the tax base of a certain industry will reduce the actual tax burden. ” by the people mentioned above.

(Article source: Baguo Finance)

(Editor-in-charge: DF546)