Abstract Small and micro enterprises with monthly sales of less than 20,000 yuan will be temporarily exempt from VAT and business tax. The exemption of the two taxes will bring benefits to more than 6 million small and micro enterprises. According to preliminary estimates, the annual tax reduction is expected to be nearly 30 billion yuan. Experts pointed out that the policy to reduce corporate tax burden, there are...
Small and micro enterprises with monthly sales of less than 20,000 yuan will be temporarily exempt from VAT and business tax. The exemption of the two taxes will bring benefits to more than 6 million small and micro enterprises. According to preliminary estimates, the annual tax reduction is expected to be nearly 30 billion yuan. Experts pointed out that policies to reduce corporate tax burden are conducive to stimulating corporate vitality, stabilizing and expanding employment. As for tax reduction, financial capacity is considered. At present, it is still difficult to comprehensively and extensively reduce taxes and fees. Monthly sales of not more than 20,000 yuan, enterprises are exempt from two taxes
Li Keqiang, Premier of the State Council, presided over the State Council executive meeting on July 24th. The meeting decided that from August 1 this year, small-scale taxpayers and business taxpayers with a monthly sales of less than 20,000 yuan for small and micro enterprises will be temporarily suspended. Exemption from VAT and business tax.
According to preliminary estimates, the tax exemption will bring benefits to more than 6 million small and micro enterprises, directly related to the employment and income of tens of millions of people. It is estimated that the annual tax reduction will be nearly 30 billion yuan.
"This alleviates the tax burden of small and micro enterprises, is conducive to the better development of small and micro enterprises, is conducive to stabilizing economic growth, promoting employment and benefiting people's livelihood." Niu Li, director of the Macroeconomic Research Office of the National Information Center, is accepting the new website. The reporter said in an interview.
Niu Li pointed out that the current Chinese economy is facing downward pressure. In particular, SMEs face a series of difficulties and pressures such as financing difficulties, expensive financing, high taxes and fees, and rising labor costs. In the process of economic slowdown, small and micro enterprises have to bear greater risks than large enterprises, but just small and micro enterprises are important areas for job creation, so both from the perspective of steady growth and from the perspective of solving employment pressure, It is necessary to increase support for small and micro enterprises.
Tax reduction measures take into account financial affordability
The market is generally applauded for this tax reduction policy, but there is a view that the policy is not strong enough and the benefits are not wide enough. It is hoped that the standard will be further improved and the scope expanded.
In this regard, Niu Li said that the exemption point of 20,000 yuan should be the government's decision to investigate the overall situation of the enterprise, taking into account the decision made after the financial income situation. At present, the economy is decelerating, and the efficiency of enterprises is not very good. The government has also put a lot of pressure on the target of fiscal revenue. In particular, the central government’s fiscal revenue has only increased by 1.5% in the first half of the year, and there is pressure to complete the budget target of 7% for the whole year. The scope of tax reductions and fees is still difficult now.
The head of the Department of Taxation of the Ministry of Finance also pointed out that the implementation of tax incentives often requires full consideration of policy coordination and balance and financial affordability. In the first half of this year, the contradiction between fiscal revenue and expenditure was prominent. Under this background, this policy was introduced, highlighting the government's emphasis on and support for the development of small and micro enterprises, stabilizing economic growth, encouraging entrepreneurship, and promoting employment. Under the current situation, small and micro enterprises with monthly sales of less than 20,000 yuan are subject to tax exemption policies. The scope of application is appropriate. The measures are powerful and fair.
The person in charge believes that on the one hand, each enterprise is small in scale at the beginning of development, its ability to withstand market risks is relatively low, the taxation sensitivity of production and operation is higher, and the demand for policy support is greater. At the same time, these enterprises often It also has the most vitality and development potential, and “good steel is used in the cutting edge†to fully realize the support effect of the tax reduction and exemption policy. On the other hand, if the scale of tax reduction and exemption is too large, it will affect the scale of public finance expenditure, but actually will weaken the overall effect of fiscal and taxation policies.
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