Britain And The United States Are Planning To Cut Taxes.

In the face of the global wave of tax cuts, China has introduced a 580 billion yuan tax reduction and reduction measure this year to cope with competition.

The State Council executive meeting chaired by Premier Li Keqiang announced 6 tax reduction measures such as devaluation tax rate and so on.

This is the first quarter of 200 billion yuan has been introduced to reduce the cost of initiatives, and then launched a about 380000000000 yuan tax reduction package.

"Today's matter is decided, the plan should be urgently promulgated, the tax reduction should be urgently put in place, and the enterprises must have a real sense of acquisition." it is worth noting that Li Keqiang warned the relevant departments at the meeting, "many countries are planning to introduce tax reduction measures. In the new round of global competition, we should have a sense of" running away "and enhance the competitiveness of enterprises with practical measures.

Feng Qiaobin, a professor at National School of Administration, told reporters that the current global tax cut has been "in the firing line" and that the prime minister's emphasis on tax cuts should be "lead" consciousness, reflecting the deep integration into the global economy.

We must make a good response to the plan and prepare for a better environment for enterprises.

At present, the global economy is in the post crisis era, and many countries are facing the pressure of economic downturn.

Feng Qiaobin told the first financial reporter that before the monetary policy such as reducing interest rate space was limited, tax cuts became the choice of the United States, Britain and other countries, and the global wave of tax cuts is coming.

Feng Qiaobin believes that the implementation of the tax cuts in the United States needs to form a bill, which will take some time, but a set of tax schemes has been very clear in design.

After the tax cuts started in the UK, the possibility of EU countries to follow up is also greater.

International tax competition will drive capital, technology and other mobile production factors from high tax countries to low tax countries.

However, the International Monetary Fund (IMF) expressed concern about the tax reform plan proposed by Trump in its latest semi annual report on global financial stability.

According to the report, the tax reform proposed by the US Republican Party will increase the cash flow of enterprises, but the US companies whose leverage is very high may not use these cash flows for productive capital investment.

IMF said that the cash may be used for risk-taking activities such as buying financial assets, mergers and acquisitions and dividend payments.

The report pointed out that the past large-scale tax reform in the United States often brought about a warming of financial risk behaviors, including the tax reform in 1986 and the corporate tax in 2004.

These two actions have led to an increase in leverage, followed by a recession in 1990 and 2008.

At present, the international competition is fierce, and many countries are competing for it.

Signal.

Li Keqiang pointed out at the above executive meeting, "we must have a sense of" rush to run ". Li Keqiang said that the income of our residents increased year by year, and accordingly the cost of labor and so on was rising. Therefore, we should pay more attention to tax reduction and enhance competitiveness.

"We reduce taxes not only to reduce the burden on enterprises, but also to give the market a good expectation."

Feng Qiaobin believes that China should have its own starting point and basis when dealing with the global tax cuts.

China's choice of tax reduction is mainly based on the liquidation of the tax collection system.

Administrative zero charge is a direction of efforts. Guangdong and other places are already doing it. Our country already has the basic conditions.

There are not many government funded projects, but the amount is large and needs to be combined.

The reform will further clean up.

Besides, there is room for reducing the rate of social security.

Mei Qicheng, director of PWC tax policy service in China, told reporters that we should carefully examine the impact of the US tax cuts on China, but do not blindly deal with it. It is not how much tax the United States has cut.

China should do its own policy objectives, including the tax incentives that have been launched to encourage enterprise innovation.

Last year, China launched a comprehensive tax and fee reduction measures such as business tax reform and value-added tax, which reduced the cost to various market players by 1 trillion yuan. This year, we continue to introduce tax reduction measures to build a simple and fair tax system, and increase tax support for small and micro enterprises, technology enterprises, employment and pension.

The State Council expects that this year's tax reduction and tariff reduction measures can reduce the burden of various market players by about 580 billion yuan a year.

In response to reporters' questions this year, Li Keqiang said that the amount of tax reduction and reduction this year will strive to reach 1 trillion yuan.

For the prime minister at the above executive meeting, he stressed the need to expedite the implementation of preferential tax policies. Feng Qiaobin said that this reflects the urgent intention of the central government to cut taxes on enterprises.

However, the situation is different in different places, and there are even a few odd cases where the central government is increasing taxes.

To solve this problem is not only the implementation of policies, but also closely related to the reform of central and local fiscal responsibilities and the division of expenditure responsibilities, and the construction of local income system.

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