This year's government work report has made a number of deployments around “further reducing corporate tax burdensâ€, including reforming and improving value-added tax, and significantly expanding the scope of small and micro enterprises that enjoy the halving of preferential income tax policies. Enterprises and individuals cut taxes by more than 800 billion yuan. In addition, a number of non-tax burdens of government funds and administrative fees will be reduced by more than RMB 300 billion for the market.
The industry expects that the trillion yuan reduction package will begin to enter the intensive policy period after the two sessions, and the comprehensive cost reduction measures of taxes, electricity, and logistics will enable enterprises to go into battle and gather together.
Reduce corporate tax burden by more than 800 billion in the whole year
In this year's government-issued burden-reduction package, tax cuts and fees are undoubtedly the heaviest component. The government work report pointed out that reform and improvement of value-added tax, adjust the tax rate in the third and second directions, focus on reducing the tax rate of manufacturing, transportation and other industries, and increase the annual sales standards of small-scale taxpayers. Significantly expand the range of small and micro enterprises that enjoy a halved income tax incentive. Significantly increase the pre-tax deduction ceiling for new equipment purchased by enterprises. Implement a comprehensive credit policy for overseas income of enterprises. Expand the scope of tax incentives for logistics enterprises' storage and land use. Continue to implement the enterprise reorganization of land value-added tax, deed tax and other expiration preferential policies.
"We estimate that the implementation of the above tax reduction policy, the annual tax reduction is expected to exceed 800 billion yuan. At the same time, we will further clean up and regulate government funds, administrative fees and operating service charges this year, and it is expected that the burden will be reduced throughout the year. More than 300 billion yuan." At the time, Minister of Finance Xiao Jie said on March 7.
Wang Jun, director of the State Administration of Taxation, said that the tax-related content of the government work report this year has at least three characteristics: The first feature is that there are many initiatives. There are 31 references to “taxes†in the report. Among them, there are 18 tax reductions and tax reform measures promoted this year. This is the most influential in the government work report over the years. The second feature is a wide coverage. Benefiting hundreds of millions of natural people and tens of millions of companies. The third feature is pointing to Ming. It not only strives to reduce the tax burden of the real economy such as manufacturing and transportation, but also promotes economic transformation and upgrading; it also focuses on reducing the tax burden of small and micro enterprises and working-class people, encouraging entrepreneurship, promoting consumption, and improving people's livelihood.
This year's budget report shows that since the current government, after continuous clean-up and regulation, as of the end of 2017, the administrative and institutional fees set up by the central government have been reduced from 185 to 51, a reduction of more than 72%, and the fees charged by enterprises have been reduced from 106 to 106. 33 items, a reduction of 69%; government funds decreased from 30 to 21, a reduction of 30%. According to statistics, in 2017, China's annual tax cuts and reductions exceeded 1 trillion yuan.
Significantly reduce non-tax burden
While further reducing the burden of corporate taxes and fees, the government work report proposes to continue to reduce the proportion of “five insurance and one gold†contributions. Reduce grid link charges and transmission and distribution prices, and the average industrial and commercial electricity price is reduced by 10% on average. Deepen the reform of the toll road system and reduce the cost of crossing the bridge. Increase the clearance of intermediary service fees.
In fact, as an important production factor for industrial and commercial users, in recent years, the issue of electricity prices has been repeatedly mentioned in government work reports. In 2016, it proposed “reducing the costs of corporate transactions, logistics, finance, energy use, etc.†Call the electricity price."
"In the 1 trillion yuan cost reduction mission and target set by the State Council in 2017, the price of electricity is expected to be 100 billion yuan." Zhang Manying, inspector of the Price Department of the National Development and Reform Commission, said that it mainly adopted "one reform, two reductions, three Cancellation, that is, after the reform of the transmission and distribution price, the electricity price will be reduced by 38 billion yuan, the cancellation of the urban public utilities will involve an additional amount of 35 billion yuan, and the cancellation of the electrified railway will also cost 6 billion yuan, and the electricity price will be reduced by 18 billion yuan.
"This year we should further deepen the improvement of electricity and improve it." Shu Yinbiao, member of the National Committee of the Chinese People's Political Consultative Conference and chairman of the State Grid Corporation of China, said in an interview with the Economic Information Daily that the general industrial and commercial electricity price will drop by 10%, and the country will probably drop another 80 billion. Yuan, the national grid will bear about 80%, and the other part is to reduce the government charges attached to the electricity price.
The "Guidelines for Energy Work in 2018" proposed to further promote the reform of the power system. According to the "Economic Information Daily" reporter, the National Development and Reform Commission has issued the "Notice on Approving the Transmission Price of the Regional Power Grid for 2018-2019", and approved the first supervision cycle for the power grids in North China, East China, Central China, Northeast China and Northwest China (2018). January 1st - December 31st, 1919) Two-part transmission price level.
On March 20th, the National Development and Reform Commission and the National Energy Administration issued the “Implementation Measures for the Distribution of Power Distribution Areas in Incremental Distribution Services (Trial)†to further promote the reform of incremental power distribution services and encourage the adoption of renewable energy as the main source of consumption. The target's incremental distribution service supports the distribution of power distribution areas based on the renewable energy supply range and power load.
Insiders pointed out that the verification of the regional grid transmission power price was completed, which was faster than the industry expectation, and pushed the pace of electricity reform to a big step forward. With the clearing of regional grid transmission prices, cross-provincial cross-regional power marketization transactions are expected to accelerate, and the scale of power marketization transactions is expected to continue to expand.
A number of cost reduction initiatives are poised for growth
In addition to lowering taxes and electricity costs, a number of initiatives, including reducing logistics costs, optimizing the business environment, and providing convenience, have made it easier for companies to move lightly.
In terms of relaxing market access, this year’s Prime Minister’s press conference delivered six “one†signals: the company’s start-up time will be reduced by half; the project approval time will be cut in half; the government service will be networked; the enterprise and the masses will strive to work only Enter a door; run at most once; all certificates without laws and regulations will be cancelled.
Ning Jizhen, deputy director of the National Development and Reform Commission, said that it will further simplify administration, reduce taxes, and reduce fees. This involves various departments of the State Council. Enterprises start-up, tax payment, construction permit, water and electricity report, real estate registration and other matters have been greatly streamlined and approved, to promote the "separation of licenses" reform and expansion speed, further reduce corporate tax burden, significantly reduce non-tax burden, including the NDRC to further clean up and cancel business services Fees and fees from industry association chambers of commerce.
Yang Chuantang, member of the National Committee of the Chinese People's Political Consultative Conference and party secretary of the Ministry of Communications, revealed during the two sessions that the reform of toll roads is currently underway and is being used as an entry point to reduce logistics costs.
Liu Shangxi, member of the National Committee of the Chinese People's Political Consultative Conference and president of the China Academy of Fiscal Science, told the Economic Information Daily that supply-side structural reform is the main line of economic work this year and in the future. Cost reduction is an important part of this. Cost reduction is divided into micro-cost reduction (enterprise cost) and macro-cost (institutional cost). The former is a business thing, and the latter is the government's task. A small number of enterprises have high costs, and that is, enterprise cost control is not done well. If most companies cost a lot, it is caused by macro costs. Therefore, the current cost reduction refers to reducing macro costs, that is, reducing institutional costs through deepening reforms. In his view, the key to reducing costs lies in accelerating the pace of reforms in the marketization of factors and the reform of the management system of scientific research institutions.
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