Ten sets of annual tax big data display
China's economy has great potential and vitality
Our reporter Xu Peiyu
The State Administration of Taxation held a press conference on January 20 and announced ten sets of annual tax data.
Cai Zili, director of the Revenue Planning and Accounting Department of the State Administration of Taxation, said at the press conference that the ten sets of tax data reflect the steady recovery of China's economy, better than expected, the steady increase in market vitality, and the continuous accumulation of innovation momentum.
Data growth reflects better business operations
Among the ten sets of tax data released freshly, seven sets of data showed a growth trend.
The sales revenue of enterprises nationwide increased by 6%, and production and operation are improving gradually.
29 of 31 provinces achieved positive growth in sales revenue.
The production and operation of enterprises are stable and improving. China has taken the lead in controlling the epidemic, resuming work and production, and realizing positive economic growth among the major economies in the world. China has become the only major economy in the world to achieve positive economic growth.
The sales revenue of high-tech industry increased by 14.7%, and the development potential of new kinetic energy was accelerated.
In 2020, the national high-tech industry sales revenue growth rate will be 8.7% faster than the national average level of enterprises.
Among them, the high-tech service industry has increased by more than 20% year-on-year for 9 consecutive months since April, with a cumulative annual growth of 23.6%, and the new economy has continued to grow robustly.
The R&D expenditure of key tax source enterprises increased by 13.1%, and the innovation and development situation continued to improve.
Among them, the manufacturing industry increased by 9.6%, and the software and information technology service industry increased by 25.3%, both of which maintained a positive momentum of innovation.
The amount of high-tech equipment and high-tech services purchased by the 330,000 companies that enjoy the additional deduction policy for R&D expenses increased by 15.8% year-on-year.
In 2020, 11.44 million new tax-related market entities nationwide will be established, an increase of 10.1% over 2019, and market vitality will steadily increase.
During the 13th Five-Year Plan period, the total number of newly established tax-related market entities across the country reached 57.45 million, of which the number of new establishments in 2020 was significantly higher than in 2018 and 2019.
The annual export tax rebate was 1,454.9 billion yuan, which strongly supported the stabilization of foreign trade.
In 2020, the average processing time for normal tax rebate business will be 20% faster than in 2019, which will effectively relieve the financial pressure of enterprises and play an important role in supporting the stable recovery of foreign trade.
Data show that in 2020, the tax revenue of the taxation department will account for 75.5% of fiscal revenue, an increase of 1.7 percentage points from 2019. The function of taxation for Guojucai continues to increase.
A series of tangible tax and fee reduction policies have effectively reduced the tax burden of enterprises, enhanced their sense of gain, and stimulated the vitality of market players.
"Minus" contains welcome changes
There is an increase and a "decrease".
It is worth noting that these "minus" reflect welcome changes.
The annual tax revenue fell by 2.6%, and the tax revenue target of the fiscal budget arrangement was successfully completed.
In 2020, tax revenues organized by taxation departments across the country (after deducting export tax rebates) will reach 13,678 billion yuan.
"From the perspective of the whole year trend, the growth rate of tax revenue has rebounded for 9 consecutive months since the bottoming in March, reflecting the positive momentum of China’s economic recovery. However, due to the impact of the epidemic and the implementation of tax cuts and fee reductions, tax revenues throughout the year A decline of 2.6%." Cai Zili said.
In the whole year, the taxation department collected 3.8 trillion yuan in social security fee income to protect people's livelihood.
In order to reduce the burden on enterprises, since November 2020, all social insurance premiums have been collected by taxation departments. Taxation departments at all levels have maintained a stable collection method while continuously optimizing payment services to provide “online, handheld, and self-service” for the majority of payers. Various payment channels, such as payment channels, are convenient for payers to declare and pay.
Tax revenue as a proportion of GDP fell by about 0.82 percentage points, and corporate tax burden was further reduced.
In 2020, with the implementation of tax reduction policies to support epidemic prevention and control and economic and social development, the proportion of tax revenue in China's general public budget revenue to GDP is expected to drop to about 15.2%, which will continue to drop by about 0.82 percentage points from 2019.
"Reduction" is also reflected in tax reduction and fee reduction.
In 2020, the taxation department has taken a series of practical and effective measures to ensure that the “real money” of tax reduction and fee reduction accurately reaches market entities.
Data shows that the new tax cuts and fees for the whole year of 2020 are expected to exceed 2.5 trillion yuan, which has successfully completed the annual burden reduction target set in the 2020 government work report, and also exceeded the scale of larger tax and fee reductions in 2019.
Among them, the real economy and the private economy have benefited the most.
The data shows that the new tax and fee cuts in the manufacturing industry and related links are expected to account for about 35%, which is the industry that benefits the most; the new tax and fee cuts in the private economy are expected to account for about 70%, and the benefits are the most obvious.
VAT data reflects market potential
Rong Hailou, spokesperson for the State Administration of Taxation, said that big tax data has the advantages of strong timeliness, wide coverage, and fine granularity. It records the production and operation of market entities and can quickly, comprehensively, accurately and objectively reflect economic operations.
The 2020 value-added tax invoice data reflects the rapid release of the vitality and development potential of China's economic market. Specifically-
The sales of industrial enterprises have steadily rebounded, and the supporting role of the equipment manufacturing industry has increased.
In 2020, the sales revenue of industrial enterprises increased by 2.7% year-on-year, and continued to recover steadily after the cumulative growth rate turned positive in October.
Among them, the fourth quarter increased by 11.1%, an increase of 1.9 percentage points from the third quarter.
Commodity consumption recovered rapidly, and online consumption maintained rapid growth.
In 2020, the sales revenue of wholesale and retail industry increased by 5% year-on-year, of which the fourth quarter increased by 15.4%, an increase of 4.1 percentage points from the third quarter. The integration of online and offline platforms accelerated, and Internet retail and food delivery services increased by 29.2% and 31.6% year-on-year respectively. .
Investment-related industries have grown rapidly, and the development of new infrastructure has accelerated.
In 2020, the sales revenue of civil engineering construction related to infrastructure investment increased by 19.7% year-on-year.
In particular, investment in new infrastructure areas such as 5G base stations, UHV, urban rail transit, and environmental protection has increased rapidly, driving the sales revenue of communications and power transmission facilities, urban rail transit projects, and energy-saving projects to increase by 10%, 13.4% and 20.8 year-on-year respectively. %.
"Tax big data has huge potential." Rong Hailou said that in the next step, the tax department will further utilize the advantages of tax big data, dig deeper into the economic laws and characteristics reflected by the data, and better support the development of market entities and serve macroeconomic decision-making.