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The State Council Has Supported The Strengthening Of Value-added Tax Reform Measures Manufacturing And Emerging Industries

Mar 29, 2018

Li Keqiang, the State Council, March 28 presided over the State Council's executive meeting to determine measures to deepen VAT reform and to further reduce the burden on the main market, and decided to set up a national fund to guarantee the financing of small micro enterprises and the "three rural" and so on, and to ensure that institutions reset,

The function adjusts to be in place on time; It was pointed out that the cumulative tax reduction for the past five years through the implementation of the battalion was increased by 2.1 trillion yuan. In accordance with the deployment of the Central Committee and the State Council, in order to further improve the tax system, support the manufacturing industry, small micro-enterprises and other real economic development, and continue to reduce the burden on the market, the meeting decided, starting from May 1, 2018, the first is the manufacturing industry and other value-added tax rates from 17% to Basic telecommunications services and other industries and agricultural goods such as value-added tax rates from 11% to 10%, is expected to reduce the annual tax deduction of 240 billion yuan. Second, unified value-added tax small scale taxpayer standard. The annual sales standard for small taxpayers of industrial enterprises and commercial enterprises will be raised from 500,000 yuan and 800,000 yuan to 5 million yuan, and the enterprises registered as ordinary taxpayers should be allowed to register as small-scale taxpayers within a certain period of time, so as to allow more enterprises to enjoy the preferential tax on the lower levy rate. Third, the equipment manufacturing and other advanced manufacturing, research and development and other modern service industry enterprises and grid enterprises in a certain period of time did not offset the amount of input tax to be refunded one-time.

The implementation of the above three measures, the whole year will reduce the market main body tax more than 400 billion yuan, the foreign-funded enterprises will equally benefit. In accordance with the report on government work on the expansion of the financial services of Pu Hui, better service the deployment of the real economy, the meeting decided that the central government to initiate, jointly with the willing financial institutions jointly set up a state financing guarantee Fund, the first phase of raising funds not less than 60 billion yuan, the use of equity investment, reinsurance and other forms to support the provinces (district, City) to carry out financing guarantee business, promote the funds of various parties to support small micro-enterprises, "three rural" and entrepreneurial innovation. At the same time, strengthen the construction of Social Credit system. The Fund in accordance with the "government support, market operation, capital preservation of profit, management and risk" principle, market-oriented approach to decision-making, management.

Preliminary calculation, the fund in the next three years can support the relevant guarantee loan of about 500 billion yuan, accounting for the existing national financing guarantee business One-fourth, focus on alleviating small micro-enterprises, "three rural" and other areas such as financing difficulties, financing, support the development of strategic emerging industries. The Meeting noted that the State Council's institutional reform is a major event this year. The State Council has set up a special coordination group, and the relevant work is actively and steadily advancing. The meeting requests that the thought and action should be unified into the decision-making of the Party Central Committee, and the deepening institutional reform should be combined with the "pipe-taking" service to transform and optimize the government functions. Adhere to the same powers and responsibilities, do day-to-day management of responsibility in place, to respond to emergencies, the formation of work force, never allow the emergence of management "dead", to ensure that the State Council reform and Economic and social development work smoothly and orderly, coordinated progress to ensure the completion of the year's main target task.

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