State Council: Small And Micro Enterprise Income Tax Reduced By Half

Recently, the State Council issued opinions on further supporting the healthy development of small and micro enterprises, extended the enterprise income tax policy to a small profit margin enterprise to the end of 2015 and extended the scope, and asked for deepening the reform of the tax system, perfecting the structural tax reduction policy, and studying further support.

In terms of financial and tax support, opinions are required to implement various preferential tax policies to support the development of small and micro enterprises.

Increase the threshold of value-added tax and business tax; extend the policy of reducing the income tax on small and micro enterprises by the end of 2015 and expand the scope; the technical service platform of the demonstration platform of the National SME public service demonstration platform will be incorporated into the preferential policy of the current import tax policy on scientific and technological development supplies; from November 1, 2011 to October 31, 2014, the loan contracts signed by financial institutions and small micro enterprises are exempted from stamp duty, and the policy of financial enterprises' agricultural loans and small and medium-sized enterprise loan loss reserve pre tax deduction is extended to the end of 2013.

At the same time, we should improve the financial support policy.

In 2012, the total size of special funds for small and medium-sized enterprises was expanded from 12 billion 870 million yuan to 14 billion 170 million yuan, and then increased year by year.

It was suggested that government procurement support the development of small and micro enterprises.

In efforts to alleviate the financing difficulties of small and micro enterprises, the opinion requires that the growth of loans to small micro enterprises by banking financial institutions is not less than the average growth rate of all loans, the increment is higher than that of the same period of last year, and the small financial institutions that meet the requirements will continue to implement the low deposit reserve ratio.

Establish a small business credit reward assessment system, and implement the differentiated financial services of small and micro enterprises.

We need to accelerate the development of small financial institutions and strengthen credit guarantee services.

In addition to syndicated loans, financial institutions are prohibited from receiving commitment fees and capital management fees for small and micro enterprises loans.

We must strictly restrict financial institutions from collecting financial advisory fees and consulting fees to small and micro enterprises, and clearing up unreasonable charges for financial services.

Effectively curb the tendency of private lending to usury and the phenomenon of large enterprises' lending in disguise, and crack down on illegal fund-raising, pyramid selling and other illegal activities in accordance with the law.

Financial practitioners are strictly prohibited from participating in private lending.

To study and formulate policies and measures to prevent large enterprises from delinquency in small micro enterprises for a long time.

The suggestion is that we should set up a national SME development fund in accordance with the law.

The sources of funds include the central budgetary arrangement, fund income, donation and so on.

The central government allocated 15 billion yuan, 5 years in place, and 3 billion yuan in 2012.