Private Enterprises In Jiaxing Look Forward To "Warm Water" Tax Can Be Postponed Equity Pledge.

The legal status of small loan companies was recognized in Zhejiang for the first time in the form of a system.

In July 25th, the pilot project of Zhejiang microfinance company, which is in the process of preparation, was a breakthrough.

The Zhejiang Provincial Administration of industry and Commerce formally announced the Interim Measures for the registration and administration of the pilot projects of small loan companies in Zhejiang.

This is due to the official policy of warming up. It has begun to solve the financing problem of Zhejiang private enterprises, which is experiencing the "overwintering" period. One detail is that in Zhejiang, the intensity of competition for small loan companies has been almost white hot.

This policy of warming up has been expanded in the Jiaxing area where private enterprises are concentrated.

Recently, the Jiaxing municipal government has issued a series of favorable policies. In addition to the establishment of small loan companies, it will also implement new policies such as financial subsidies, tax reduction, deferred tax payment and equity pledge.

One background is that since the beginning of this year, with the implementation of tight monetary policy, Jiaxing enterprises have been generally confronted with financing difficulties, resulting in tight funds and inefficient capital operation. In addition, with the superposition of exchange rate changes, labor and raw material prices and foreign demand slowing down, many enterprises have run losses, and some capital chain breaking enterprises have even shut down.

A survey from relevant departments in Jiaxing showed that in the first half of this year, the most serious loss in Jiaxing area was light industry, with a loss of 830 million yuan, of which three industries of textiles, clothing and leather lost more than 500 million yuan, while 26 such as textile and garment enterprises above Designated Size, and hundreds of models below.

The difficulty of capital operation has become a bottleneck problem for Zhejiang private enterprises.

In the past few months, Zhang Jun Jian, the famous owner of Zhejiang and Yiwu area, fled the accident, and the inventory data released by the Yiwu municipal government later showed that the debt owed by Jin Wu group was about 1 billion 700 million.

The private entrepreneurs who had once been in a rush ran away unexpectedly and attracted attention in many cities of Zhejiang.

At this point, a new deal, which seeks to ease the pressure of enterprise capital chain through tax, began to be implemented in Jiaxing.

The new deal shows that the small taxable industrial enterprises that engage in the state's non restricted and prohibited industries should be subject to 20% corporate income tax if the annual taxable income does not exceed 300 thousand yuan, the number of employees is not more than 100, the total assets are not more than 30 million yuan.

According to the provisions of the state's key high-tech enterprises supported by the 15% reduction of corporate income tax, the enterprise's innovative R & D expenses, intangible assets into the current profits and losses, according to the provisions of the 100% deduction, according to the research and development expenses of 50% plus deduction; the formation of intangible assets, according to the intangible assets cost 150% amortization, some enterprises can extend the longest 3 months to pay taxes.

According to the analysis of the financial circles, the tax payment for the longest 3 months is equivalent to the enterprise interest free financing, which can increase the "cash flow" of enterprises, reduce the pressure of capital operation and improve the efficiency of the overall assets operation of enterprises, thereby weakening the negative impact of the poor operation of the capital chain. At the same time, the enterprise income tax will be reduced. This will undoubtedly reduce the pressure of enterprise funds, facilitate the revitalizing of existing assets or enhance the operation efficiency of assets.

Besides, the pledge of corporate equity can be supported by credit.

According to the new deal, financial institutions can give credit support to the limited liability companies registered in Jiaxing and the unlisted Limited by Share Ltd whose shareholders are less than 200.

According to a statistical analysis of Zhejiang SME Bureau, the financial cost of small and medium-sized enterprises in Zhejiang increased by 40.55% from 1 to April in 2008, and the net interest expense was 45.18%.

Equity pledge has undoubtedly expanded the scope of corporate finance, making the static capital of SMEs become a "cash flow".

The industry said that this makes the economic stock into a real economic energy, and is conducive to easing the current general situation of small and medium enterprises.

(Yang Yinghui Wang Qin)