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    In The First Three Quarters Of The Year, Zhejiang Added A New Tax Reduction Fee Of 147 Billion 900 Million Yuan.

    2019/11/15 16:36:00 1

    New Tax Reduction And Reduction

    With the end of the three quarter declaration of the "big levy", the latest "transcript" of Zhejiang's tax cut and fee reduction has been released. Recently, reporters learned from the State Administration of Taxation of Zhejiang province tax bureau, in the first three quarters of this year, Zhejiang province (including Ningbo, the same below) added a total of 147 billion 900 million yuan (RMB, the same below) to reduce taxes and reduce taxes, deepen the value-added tax reform, small and micro enterprises preferential tax relief, tax reform and social security tax reduction and other series of tax reduction and tax reduction policy effect continued to release, effectively escort Zhejiang's economic development of high quality.

    Since the beginning of this year, the tax authorities in Zhejiang have conscientiously implemented the decision and deployment of the CPC Central Committee and the State Council to implement more large-scale tax reduction and tariff reduction policies. In the first three quarters, the province added a new tax reduction and reduction fee of 147 billion 900 million yuan, including a new tax reduction of 121 billion 340 million yuan and a new social insurance premium of 26 billion 560 million yuan. The new tax reduction and reduction in the country accounted for 8.3% of the total.

    The new tax reduction mainly includes a new tax reduction of 55 billion 980 million yuan in the value-added tax reform. In May 1st last year, the value added tax rate was reduced by 9 billion 80 million yuan, and the value added tax reform was reduced by 46 billion 900 million yuan this year. The small and micro enterprises adopted a new tax reduction policy of 17 billion 140 million yuan, and the two step reform of personal income tax superimposed a new tax reduction of 33 billion 50 million yuan.

    In addition, Zhejiang's tax revenue growth slowed down in the first three quarters. In 1-9 months, the tax authorities in the province increased the tax revenue growth by 11.8 percentage points over the same period last year.

    With the implementation of the policy of reducing taxes and lowering taxes, the dividend policy continues to be released in Zhejiang, playing an increasingly important role in stabilizing economic development, enhancing market confidence and stimulating entrepreneurial innovation.

    The transformation and upgrading of empowering "Zhejiang manufacturing" is a major manifestation of the policy of reducing taxes and lowering fees in Zhejiang. In the 6 months of deepening the value-added tax reform, the tax burden of all industries in Zhejiang has only been reduced, and the net tax reduction has reached 46 billion 900 million yuan, accounting for 8% of the total tax reduction nationwide. Among them, the manufacturing tax reduction effect is obvious, achieving net tax reduction of 24 billion 520 million yuan, accounting for 52.3% of the total tax reduction reform, and 99.2% of the tax reduction.

    The massive tax cut and fee reduction by deepening the VAT reform as a "major event" has also injected new impetus to the development of the real economy. Zhejiang Tian Neng group, a leading manufacturer of production entities and a traditional lead-acid battery industry, enjoys a solid dividend policy in this year's tax reduction package. It is estimated that the group has enjoyed a total tax relief of over 150 million yuan in the first three quarters of this year, and enjoy a preferential tax rate of 80 million yuan owing to the lower tax rate of VAT. Statistics show that in the first three quarters, the added value of above scale industries in Zhejiang increased by 5.8% compared with the same period last year, and the investment in manufacturing industry increased by 15.2%.

    The proportion of R & D expenses before tax deduction increased from 50% to 75% and so on, which encouraged innovative tax incentives. It also made Zhejiang enterprises have more funds for R & D innovation, boosting the "Zhejiang manufacturing" to "Zhejiang intelligent manufacturing" to upgrade.

    Wu Deren, chairman of Zhejiang Yi Hai Information Technology Co., Ltd., whose core business is ocean big data, said that the increase in the deduction proportion of R & D expenses will encourage enterprises to further increase R & D investment. "The company has invested about 4000000 yuan in R & D this year, double the number of last year."

    In addition, as a large private economy province, the scale of tax reduction in Zhejiang's private economy is better than expected. In the first three quarters, the private economy added a new tax reduction of 103 billion 950 million yuan, accounting for 85.7% of the total tax increase, higher than the 12.1 percentage point of tax revenue. Among them, from the small and micro enterprises' preferential tax relief policy, the private economy has become the biggest beneficiary, enjoying a new tax reduction of 15 billion 810 million yuan, accounting for 92.3% of all new tax increases and decreases. From the perspective of deepening the value-added tax reform, 4-9 months in Zhejiang, the private sector achieved a net tax reduction of 37 billion 380 million yuan, accounting for 79.7% of the total value reduction tax reform.

    Ding Lieming, chairman of the pharmaceutical company of Beida, said that with the support of the dividend reduction policy, enterprises lowered the pricing of products, which not only helped consumers, but also enhanced the competitiveness of the market. At the same time, reducing taxes and lowering fees also enable enterprises to have more funds for new product development.

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