This year, my country implemented a new combined tax and fee support policy to cope with the new downward pressure on the domestic economy. Among them, the large-scale value-added tax refund has become the "highlight" of the tax and fee reduction policy.
Data from the State Administration of Taxation shows that from April 1 to June 9, 1.425 billion yuan of tax refunds have been refunded to taxpayers' accounts. In addition, the old policy of 123.3 billion yuan of tax refunds issued earlier has been continued in the last quarter. A total of 1,548.3 billion yuan of tax refunds have been refunded to taxpayers' accounts, more than double the scale of tax refunds handled in the whole of last year.
Recently, at a press conference held by the State Administration of Taxation, Xie Wen, Director of the Department of Goods and Services Tax of the State Administration of Taxation, said in an interview with a reporter from People's Daily Online that the State Council has deployed and implemented a package of policy measures to stabilize the economy, and decided to implement more policies in more industries. The full amount of the existing and incremental tax refunds will be implemented, and the newly added tax refunds of more than 140 billion yuan will basically be refunded in July.
In this regard, a number of finance and taxation experts told a reporter from People’s Daily Online that the “expansion”, “strengthening” and “speeding up” of the tax refund policy will effectively help market entities overcome difficulties, help stabilize market expectations, and help stabilize the overall economic development market. .
The policy is ahead of the curve to implement the tax rebate policy in more industries
The State Council executive meeting held on May 23 further deployed a package of measures to stabilize the economy.The meeting decided to implement the full amount of the existing and incremental tax rebates in more industries, increase the tax rebate by more than 140 billion yuan, and reduce the tax by 2.64 trillion yuan for the year.
On May 31, the State Council issued the "Notice of the State Council on Printing and Distributing a Package of Policies and Measures to Stabilize the Economy" (hereinafter referred to as the "Notice").The "Notice" requires to further strengthen the VAT refund policy.
Xie Wen said in an interview that the implementation of full and incremental tax rebates in more industries has the following three characteristics:
One is "expansion".Maintain the continuity and stability of the policy, and accurately help enterprises in difficulty. On the basis of a one-time full refund of the existing tax credits and a monthly full refund of the incremental tax credits for enterprises in six industries including the manufacturing industry that have been introduced, "Wholesale and retail trade", "Agriculture, forestry, animal husbandry and fishery", "Accommodation and catering industry", "Resident service, repair and other service industry", "Education", "Health and social work" and "Culture, sports and entertainment industry" 7 industries are included in the scope of the above-mentioned tax refund policy.
The second is "additional force".On the basis of the previous new policy expected to refund about 1.5 trillion yuan for the whole year, the expansion of the tax rebate policy for the seven industries is expected to add 140 billion yuan in tax rebates, and the annual tax rebate is expected to reach 1.64 trillion yuan, which will directly serve the market. The main body provides cash flow, effectively alleviating the financial pressure of difficult enterprises.
The third is "speeding up".The newly added 140 billion yuan of tax refunds will be processed in a centralized manner in July. On the basis of fully respecting the wishes of taxpayers, the tax authorities will strictly implement the work procedures for accepting tax refunds based on applications, further speed up the processing progress, and allow market players to enjoy the benefits as soon as possible. Dividends, timely help enterprises to overcome difficulties and recover.
According to Xie Wen, at present, the tax department is doing all the preparatory work to ensure that the tax refund funds are standardized, accurate, smooth and orderly to the taxpayers.In the next step, the tax department will take more solid measures to implement the expansion policies for 7 industries, strengthen internal business training, and take various forms to carry out another round of publicity and guidance with broad coverage and high precision, and actively guide taxpayers to apply for tax refunds. , to ensure that the majority of taxpayers and front-line tax officials understand policies and operations.At the same time, give full play to the active role of the consultation mechanism between the three departments of finance, taxation, and the People's Bank of China, and closely communicate and cooperate, so that market players have a real sense of gain.
Precise policy efforts to stabilize market entities, stabilize employment and protect people's livelihood
At present, the dividends of a series of tax and fee support policies have been gradually released, and the results have gradually emerged, which have played a positive role in easing difficulties and boosting development confidence for market players.
"Stabilizing market entities means stabilizing expectations and stabilizing people's hearts, and maintaining market entities means maintaining the resilience of China's economy." Zhang Lianqi, member of the Standing Committee of the National Committee of the Chinese People's Political Consultative Conference and vice president of the China Taxation Society, said in an interview with a reporter from People's Daily Online. The tax rebate with the remaining credit will be stronger and wider, which will help improve the cash flow of enterprises.The tax rebate funds are mainly used to expand production, technology research and development, and pay salaries, alleviating the cash flow crisis of market players.
Data show that in May, the purchasing expenditure of enterprises enjoying tax rebates across the country increased by 10.9% year-on-year, 3 percentage points faster than that in the first quarter before tax rebates, and 7.5 percentage points higher than that of enterprises without tax rebates.In the face of the impact of the epidemic and the downward pressure on the economy, the operating investment of tax-refundable enterprises has increased steadily, driving the sales revenue of tax-refunded enterprises to increase by 10.6% year-on-year in May, which is 5.2 percentage points faster than that in the first quarter, and the growth rate is 9.6 percentage points higher than that of non-tax-refunded enterprises. Stabilizing the macroeconomic market provided strong support.
Li Xuhong, director of the Institute of Fiscal and Taxation Policy and Application of Beijing National Accounting Institute, said in an interview with a reporter from People's Daily Online that from the two sets of data on procurement and sales, it can be seen that companies that have enjoyed tax rebates have higher growth rates than those that have not. It reflects that the tax rebate policy will help improve the production and operation conditions of enterprises and enhance the vitality of market players.
"Policy 'expansion' allows more industries and enterprises to enjoy policy dividends, which will help stabilize market players, protect people's livelihood, and stabilize employment; policy 'strengthening' will prompt policies to produce greater scale effects, thereby driving China's The overall economic growth; the policy of 'speeding up' will help to promote the proactive fiscal policy to take root as soon as possible and achieve results." Li Xuhong said.
"Implementing the VAT refund policy is the key to this year's macro-control." Feng Qiaobin, deputy director of the Macroeconomic Research Department of the Development Research Center of the State Council, told a reporter from People's Daily Online that the State Council executive meeting held on March 21 confirmed the implementation of large-scale In the policy arrangement of VAT credits and refunds, priority should be given to small and micro enterprises, with a focus on supporting six major industries including manufacturing.In the face of the new downward pressure in my country's economic operation, the "expansion", "enhancing" and "speeding up" of the VAT refund policy will help better withstand the downward pressure on the economy and promote the stable and healthy operation of the economy.
Feng Qiaobin pointed out that market players are the backbone of my country's economic fundamentals, employment and people's livelihood.Strengthening the VAT refund policy, increasing cash flow for enterprises and solving difficulties, is a key measure for my country to protect market players and hedge against downward pressure on the economy.
