New Regulations On Zhejiang'S Tax Revenue Benefit The New Regulations Of Cotton Spinning And Reeling Industry

< p > > a href= "http://sjfzxm.com/news/index_p.asp" > Zhejiang province < /a > the IRS and the finance department have issued a new policy recently. It is clear that since August 1st, the general taxpayers who produce cotton yarn, silk reeling and Pecan (kernel) by buying cotton, linen and pecan seed (kernel) are included in the pilot scale of the approved value-added tax deduction for agricultural products.

The expansion of the pilot approved deduction of value-added tax for agricultural products has a significant tax reduction effect on traditional industries, especially cotton textile and silk reeling industry.

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< p > according to the cadre of policy and regulation department of Jiaxing State Taxation Bureau, the difference between the approved deduction of agricultural products and the "deduction rate" is that the deduction function of the VAT deduction voucher of the pilot farm products has been abolished. The input tax of agricultural products is decoupled from the existing deductible voucher, and the amount of the current deductible input tax is changed according to the actual amount of agricultural products consumed by the taxpayer every month.

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< p > < < a href= > http://sjfzxm.com/news/index_p.asp > > < /a >. The main advantage of implementing the approved agricultural products is to solve the policy defects of agricultural products processing industry in the past, that is, to deduct the "high tax and low deduction" policy in the past, and lighten the burden of enterprises.

For a long time, the agricultural product processing industry has a 13% discount on the purchase of agricultural products, and the "high and low deduction" dilemma of products being deducted by 17%.

After the approved deduction, enterprises can deduct the purchased agricultural products by 17%, and the tax burden will be reduced.

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< p > for example, a textile enterprise sold 5360 tons of cotton sliver in 2013, the sales amount was 128 million 600 thousand yuan, and the value added tax was 3 million 970 thousand yuan. At the same time, it purchased 145 million 815 thousand and 200 yuan of agricultural products, which could only deduct 18 million 956 thousand and 700 yuan according to the original policy. According to the present method, it can deduct 20 million 305 thousand and 700 yuan under the same conditions, and the enterprise can deduct more than 1 million 349 thousand and 700 yuan, and the tax burden is reduced by 34%.

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At present, the approved deduction of agricultural products is still in the pilot stage. With the expansion of the approved deduction scope, the development of agricultural products processing industry in Zhejiang will be greatly promoted. P

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