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Structural Analysis Of Tax Revenue In The First Quarter Of 2009

2009/4/23 15:47:00 42058

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First, the first quarter of 2009 revenue
In the first quarter, the total tax revenue of the whole country was 1 trillion and 302 billion 358 million yuan, down 10.3% from the same period last year, and the income was reduced by 149 billion 610 million yuan.
(1) characteristics of tax revenue in the first quarter
First, the total tax revenue continued to decline, but the monthly decline narrowed gradually. In January 2009, the trend of income reduction since the fourth quarter of last year continued to decline by 16.7% compared with the same period last year, creating the lowest level of monthly reduction in recent months. However, after February, tax revenue declined narrowing month by month. In February, the tax revenue decreased by 6.4% compared with the same period last year, and the tax revenue in March dropped by 3% over the same period last year.
Two, the main categories of taxes other than consumption tax are still decreasing. In the first quarter of 2009, consumption tax maintained a rapid growth, an increase of 38.5% over the same period last year. In addition to the consumption tax, the main tax categories still reduce, including the domestic value-added tax decreased by 2.4%, the import link tax decreased by 15.8%, the corporate income tax decreased by 16.7%, and the personal income tax decreased by 0.3%.
Three, farmland revenue tax, property tax, urban land use tax and other parts of the local tax revenue to achieve rapid growth. In the first quarter, the farmland occupation tax was completed by 13 billion 235 million yuan, an increase of 120.8% yuan over the same period last year, an increase of 7 billion 241 million yuan; the property tax was completed by 15 billion 845 million yuan, an increase of 17.7% over the same period last year, and an increase of 2 billion 382 million yuan; the urban land use tax was completed by 21 billion 828 million yuan, an increase of 32% over the same period last year and an increase of 5 billion 292 million yuan.
(two) the main reason for the continued decline in tax revenue in the first quarter
First, economic growth slowed down, corporate efficiency declined, and tax revenue sources decreased. At the same time, the lowering of the price level also reduces the scale of the whole tax base.
The two is structural tax cuts. Since the second half of last year, the export tax rebate rate for nearly 10000 kinds of commodities has been increased, the stamp duty rates for securities transactions have been lowered and unilateral levies, and the deduction standard of personal income tax expense has been raised. The tax rate of savings deposit interest income tax has been lowered, the tax policy of real estate transactions has been adjusted, and the tax reduction policy of vehicle purchase tax such as 1.6 liters or less has been reduced. The tax revenue has also been reduced more.
(three) the main reason for the narrowing of tax revenue in the first quarter.
First, the implementation effect of active fiscal policy and moderately loose monetary policy has appeared one after another. This is mainly manifested in the rapid growth of fixed asset investment, which has been stimulated by policy incentives and price cuts to stimulate commercial housing turnover and car sales. Correspondingly, the banking business tax, deed tax, vehicle purchase tax and other taxes have narrowed or increased revenue.
The two is the adjustment of policies to increase consumption tax and corporate income tax. The increase in the tax rate of refined oil consumption led to a rapid increase in total consumption tax revenue. In 2 and March, domestic consumption tax increased by 32.4% and 80.5% respectively. However, the refined oil consumption tax increases part of the tax revenue instead of the general income. Instead, it is listed as a special income, which is specifically used to replace the six toll of road maintenance fees. The adjustment of the pre payment policy of enterprise income tax also increased the income tax of enterprises in 2 and March. In January this year, the State Administration of Taxation made an increase in the proportion of pre paid tax on the enterprise income tax payable to the low income industries such as the financial sector and other enterprises, which was an important factor for the increase in the number of enterprise income tax in 2 and March. After the proportion of the prepaid income tax has been raised, the income tax collected at the end of the year will be reduced correspondingly. From the whole year, the income of enterprise income tax will not increase due to the adjustment of the prepaid ratio.
Three, the implementation of the new regulations such as farmland occupation tax, urban land use tax and other new regulations, and the adjustment of the levy period will result in tax revenue growth. The new urban land use tax and farmland occupation tax regulations were implemented in 2007 and 2008 respectively. However, the adjustment of tax standard in some areas was implemented only after the end of 2008, resulting in a tax increase in the first quarter of this year. At the same time, new land requisitioned for construction of infrastructure and more land for development, intensified collection, adjustment of tax levy and tax collection and other factors jointly promoted the growth of taxes on farmland occupation and urban land use tax.

Two, main tax categories income situation and reason analysis
(1) domestic value-added tax has continued to decrease, and value-added tax has been increased in some industries.
In the first quarter, the domestic value-added tax revenue was 456 billion 606 million yuan, down 2.4% from the same period last year.
Since November last year, domestic value-added tax has continued to decrease. In February, the domestic value-added tax revenue decreased by 3.6% compared with the same period last year, and the reduction rate was 0.8 percentage points higher than the January decline. In March, the domestic value-added tax revenue decreased by 0.5% compared with the same period last year, and the rate of reduction has slowed down.
The main reasons for the continuous reduction of value-added tax in China are: first, since January 1, 2009, the value-added tax reform has been carried out in the whole country. The input tax included in the purchase of machinery and equipment has been deducted from the value-added tax, resulting in a substantial reduction in the value added tax. In 2008, the tax deductible due to the upside down of the refined oil prices was extended to this year, which also affected the value-added tax revenue. Two, the industrial added value and the producer price index of industrial products have dropped significantly. In the 1-2 month of 2009, the added value of Industrial Enterprises above designated size increased by 3.8%. The growth rate was 10.2 percentage points lower than that of the same period last year (according to the comparable days, the growth rate of industrial added value in the first 2 months of 2009 was 5.2%), while the industrial added value has accelerated in March, but the growth rate in the first quarter still maintained a relatively low growth rate. At the same time, PPI fell 3.9% in March, up 10.3 percentage points from the same period last year. In February, PPI decreased by 4.5% over the same period last year, an increase of 1.2 percentage points from the previous month. Three, the growth rate of total retail sales of social consumer goods fell slightly. In 2009, the total retail sales of consumer goods increased by 15.2% over the same period of 1-2 months, and the growth rate dropped 5 percentage points over the same period last year.
According to the industry, in the 18 key industries, except for the value-added tax of 8 industries, such as crude oil, non-ferrous metals, electricity, paper and paper products, billet steel, chemical products, transportation equipment and cigarettes, the value-added tax of 10 industries such as special equipment, wine, clothing, leather, textiles, electrical appliances, telecommunications equipment, coal and refined oil has been increased.
The value added tax of crude oil and non-ferrous metals ranks the top in the reduction industry. The first quarter decreased by 54.3% and 54% respectively compared with the same period last year. The main reason for the substantial reduction in the value added tax of non-ferrous metals and crude oil is the decrease in the value added of the industries resulting from the sharp decrease in factory prices. Crude oil prices fell by 36.6% in 1-3 months, and the prices of major non-ferrous metals such as copper, aluminum, lead and zinc dropped to varying degrees.
Besides the slow economic growth and the reduction of electricity consumption, the reasons for the decline in the value added tax are also the reasons for the increase in the tax rate of coal value-added tax after the transformation of value-added tax and the increase in the input tax of thermal power enterprises.
Coal industry value-added tax revenue growth ranked first, mainly because of coal and other mineral products value-added tax rate from 13% to 17%.
(two) domestic consumption tax has achieved rapid growth.
In the first quarter, domestic consumption tax finished 101 billion 18 million yuan, an increase of 28 billion 56 million yuan, an increase of 38.5% over the same period last year.
In the first quarter, the income tax on refined oil consumption tax has achieved rapid growth, an increase of 262.2% over the previous year and an increase of 25 billion 630 million yuan. The consumption tax revenue of valuable jewelry, cigarettes and liquor increased steadily, rising by 14.8%, 7.1% and 5.2%, respectively. The consumption tax on solid wood flooring, automobile tires and vehicle sales continued to decrease, down 59.5%, 41.4% and 10.4% respectively. After deducting the consumption tax on refined oil, the consumption tax in the first quarter increased by 3.9% over the same period last year.
The rapid growth of oil product consumption tax revenue is mainly due to the increase of unit tax on refined oil consumption tax since January 1st. Although oil products consumption tax revenue has achieved rapid growth, the increase of refined oil consumption tax revenue is still smaller than the increase of tax rate. The main reasons are as follows: first, the production and sales volume of diesel oil has been reduced due to the economic slowdown and other factors; the two is the first quarter oil products consumption tax revenue, including the production and sale of refined oil in December last year, and the refined oil tax paid in the original tax rate in January this year.
In the first quarter, the decrease in automobile consumption tax revenue was mainly due to the fact that the first quarter income was actually produced in December and 1-2 this year. In December 2008 and January this year, the auto market was relatively low, and sales fell by 11.64% and 14.31% respectively. Although the car market in March has been warmer, the realized consumption tax has not yet been reflected in the first quarter revenue.
(three) decrease in total sales tax revenue
In the first quarter, business tax was 209 billion 215 million yuan, down 1.5% compared to the same period last year, and reduced by 3 billion 153 million yuan.
In terms of tax revenue, the sales tax revenue of postal industry, securities industry, insurance industry and real estate industry increased significantly, down 47.1%, 42.8%, 32.8% and 25.3%, respectively. The banking business tax has achieved rapid growth, up 17.9% from the same period last year. The business tax of construction industry and telecommunication industry has increased steadily, up 10.8% and 8.3% respectively.
In the first quarter, the decrease in sales tax revenue of postal industry, securities industry and insurance industry was mainly affected by the international financial crisis, and the logistics industry such as securities, insurance and postal services was depressed. The main reason for the decrease in the sales tax revenue of the real estate industry is that since the beginning of the year, the state has implemented the policy of exemption from business tax for the ordinary housing purchased by individuals for 2 years, and the second-hand housing in most transactions is tax-free, resulting in a substantial reduction in the sales tax of the real estate industry.
In the first quarter, the revenue of banking business tax increased significantly, mainly due to the rapid growth of new RMB loans. 1, in February, the newly increased RMB loans reached 1 trillion and 620 billion and 1 trillion and 70 billion respectively, and the scale of loans continued to grow rapidly in March, which led to the growth of banking business tax revenue.
(four) corporate income tax revenue has declined sharply, but there has been a positive increase since February.
In the first quarter, corporate income tax income was 214 billion 503 million yuan, down 16.7%. compared with the same period last year. Corporate income tax income decreased by 24.8% in January, up 4.7% in February and 13.5% in March.
According to the industry, the income tax of industrial enterprises in the first quarter was 80 billion 180 million yuan, down 19.2% from the same period last year. Real estate business income tax decreased 32.9% compared with the same period last year, and the income tax of financial and insurance enterprises increased by 1.7% compared with the same period last year. In February, the negative growth rate began to turn to positive growth. At the same time, corporate income tax revenue in liquor, building materials, coal and construction industries also showed a positive growth trend.
In the first quarter of 2009, the growth rate of corporate income tax dropped sharply. First, the settlement of the settlement resulted in a high base in 2008. The growth of corporate profits in 2007 led to a higher growth rate of corporate income tax in the first quarter of 2008. Two is economic slowdown, corporate profits generally decline. In the 1-2 month of 2009, the profits of Industrial Enterprises above Designated Size reached about 220 billion yuan, down 37.3% from the same period last year. Three, the reduction of the income tax rate of domestic enterprises and the reduction effect brought about by the implementation of preferential policies.
The main reason for the positive growth of corporate income tax in February is that the macro-control policies implemented by the state have achieved initial success. The moderately loose monetary policy has greatly increased the loan interest and other income of financial and insurance enterprises. The implementation of the active fiscal policy has made the economic benefits of building materials, electricity, construction and other enterprises gradually pick up. Two, the tax department has raised the prepayment ratio of enterprise income tax. In January of this year, the State Administration of taxation had made a low proportion of the prepaid tax on enterprise income tax, such as finance, and so on, which required a lower proportion of the tax payable on enterprise income tax. It required adjustment of the prepaid method or raising the prepaid tax amount, and stipulated a higher proportion of 70% of the pre paid tax. What needs to be explained is that after the proportion of the prepaid income tax has been raised, the income tax collected at the end of the year will be reduced correspondingly. From the whole year, the income of enterprise income tax will not increase due to the adjustment of the prepaid ratio. Three is the first quarter of new year's day, Spring Festival and other holidays, the impact of heavy consumption of tobacco and alcohol, tobacco and wine industry's business growth is relatively fast.
(five) personal income tax has declined slightly.
Personal income tax in the first quarter was 122 billion 711 million yuan, down 0.3%. compared with the same period last year. In March, personal income tax was 34 billion 980 million yuan, down 16.6% from the same period last year.
From the point of view of the income items, each sub income tax in the first quarter showed a trend of growth and decline. Among them, savings interest income tax revenue was 6 billion 220 million yuan, down 44.1% compared with the same period last year; income from wages and salaries income was 80 billion 860 million yuan, an increase of 1.2% compared with the same period last year; the income tax income of housing transfer was 1 billion 178 million yuan, up 98.3% over the same period last year.
The main reasons for the decrease in personal income tax in the first quarter were: first, the slowdown in the economy and the decline in corporate efficiency, and the slowdown in the growth of wages and bonuses. Two, the role of policy adjustment in reducing the income tax on savings interest appears. Since October 9, 2008, personal income tax has been temporarily exempted from interest income from savings deposits and interest earned by individual investors in securities trading settlement funds, resulting in interest on savings deposits in the first quarter.