Chinanews.com, Guangzhou, August 5 (Sun Qiuxia Gong Yudi) As a hot spot for foreign investment in the world, Guangdong has continued to optimize its business environment.
In recent years, the Guangdong Provincial Taxation Bureau of the State Administration of Taxation (hereinafter referred to as the "Guangdong Provincial Taxation Bureau") has not only continued to increase its preferential tax policies, but also launched a series of innovative measures in the fields of tax collection and management and tax services. Some taxation indicators have entered At the forefront of the world.
The improvement of the taxation business environment has made Guangdong a "strong magnetic field" for attracting foreign investment.
Zhongshan tax personnel assist taxpayers in handling tax-related business through the V-tax remote visualized automatic tax processing system. Photo by Yue Ruixuan
According to statistics from the Ministry of Commerce, 5,584 foreign direct investment enterprises (projects) were newly established in Guangdong in the first half of the year, and the actual use of foreign capital was 82.19 billion yuan. Among them, the high-tech service industry actually utilized 10.46 billion yuan of foreign capital, a year-on-year increase of 75.2%.
The deferred tax policy attracts foreign investment to stay
In order to stabilize foreign investment, the Guangdong Provincial Taxation Bureau thoroughly implemented a series of tax incentives and improved corporate expectations. Among them, the implementation of the deferred taxation policy has not only increased corporate confidence, but also retained more foreign capital.
The deferred taxation policy implemented since 2017 is to encourage foreign investors to continue to expand their investment in China. According to regulations, foreign investors who use profits from domestic resident enterprises for domestic direct investment may not pay corporate income tax for the time being.
Tax data shows that since the implementation of this policy, Guangdong has leveraged over 25 billion yuan in foreign capital utilization in the province, involving 2.4 billion yuan in deferred tax payments. The policy has benefited more than 40 industries and stabilized foreign investment confidence in Guangdong.
Zhongshan Noouya Display Products Co., Ltd. (hereinafter referred to as "Noouya Company") is the beneficiary of the deferred tax policy.
In 2012, Noah Brand Europe Co., Ltd. took Zhongshan City as the first stop to "test the waters" of the Chinese market and established Nouya Company. In 2019, under the guidance of the taxation department, Nouya Company handled the first reinvestment deferred tax refund application in Zhongshan City and received a tax refund of 300,000 yuan.
After experiencing the sweetness of the tax rebate bonus, Noah Brand Europe Co., Ltd. decided to transfer the 6.8 million yuan dividend of Nouya Company to its subsidiary in Shanghai to further expand the group’s market in the Yangtze River Delta region. This investment also brought the company The tax concession of 680,000 yuan is an "additional chip" for enterprises to reinvest in the Yangtze River Delta.
In Dongguan, many foreign-funded enterprises also enjoy the deferred taxation policy.
After learning that the investor of Dongguan Lead Mechanical & Electrical Co., Ltd. will carry out profit distribution and reinvestment, the Dongguan tax department immediately carried out "one-to-one" follow-up assistance and provided "door-to-door policy delivery" services.
"Under the'point-to-point' service of the tax department, we have enjoyed a tax incentive of 1.39 million yuan. It can be said that this tax incentive policy has released a positive signal and increased the confidence of the parent company in investing in China. For future profit distribution, the parent company The company stated that it will continue to increase its investment in China." said Ye Shaofen, chief financial officer of Dongguan Lead Electromechanical Co., Ltd.
In addition to deferred tax payment, the solid implementation of a series of tax and fee reduction policies in Guangdong has also given foreign-funded enterprises "reassurance."
Located in the Jinwan District of Zhuhai City, Zhuhai Special Economic Zone Philips Home Appliance Co., Ltd. (hereinafter referred to as "Zhuhai Philips Company") is a wholly-owned subsidiary of Royal Philips of the Netherlands and the first batch of foreign-invested enterprises in Zhuhai. Always maintain a steady growth momentum,
"After the outbreak of the epidemic this year, the company has also been affected to a certain extent, mainly due to the decline in orders in the first half of the year, but the government's response and policies are unprecedented. The intensive policy has ensured that the company can tide over the difficulties and resume production smoothly." Zhuhai Philips Chief Financial Officer Sun Junlei told reporters.
Since 2019, Philips has processed a total of more than 72 million yuan in export tax rebates, and achieved a total of 64.89 million yuan in adjustments. After the outbreak, the company enjoyed a phased reduction and exemption of social insurance premiums, which amounted to approximately 3.27 million yuan.
"The home appliance manufacturing industry has low profit margins and fierce competition. Tax reduction and fee reduction have helped us to "load light" and have more resources to invest in R&D and manufacturing to make products better!" Member of the Global Executive Committee of Royal Philips Group of the Netherlands, Andy Ho, CEO of Greater China, said: “As a foreign-funded enterprise, we not only enjoy the dividends of China's tax reform, but also accelerate the construction of new factory buildings with its help.”
Increase the speed of tax processing
In Guangdong, the most important thing for tax-paying companies is that taxation is becoming more and more convenient. This is mainly due to the fact that in recent years, the Guangdong taxation department has launched a series of hard measures in terms of reducing the frequency of tax processing and shortening the time of tax processing.
For example, in terms of the number of tax payments, the implementation of reforms such as the combined declaration of the two taxes on housing and land, and the "one-time full declaration" of value-added tax, consumption tax and additional taxes, has reduced the number of tax payments to six, making it one of the world's top.
"The combined declaration of both housing and land tax actually needs to be reformed from the entire system. Every time we reduce the frequency of tax processing, we put a lot of effort behind the scenes. One declaration of value-added tax, consumption tax, and additional tax has also benefited from the past few years Reform of the taxation system. Next, we will further study the feasibility of tax reporting in accordance with taxpayers’ tax needs.” said Xiao Rong, deputy director of the Tax Service Division of the Guangdong Taxation Bureau.
In terms of tax payment time, Guangdong Taxation continued to promote tax-related matters such as "online", "online", "code-based" and "handheld", and implemented measures such as "no need to run once" for tax payment to further reduce the tax time.
For example, the Guangdong taxation department pioneered the research and development of the V-Tax remote visual self-service taxation platform, based on serving the construction of the Guangdong-Hong Kong-Macao Greater Bay Area, and reducing the need for cross-border operators to apply for tax.
"Foreign-funded enterprises have more demand for remote tax processing. In recent years, we have vigorously promoted online tax processing so that taxpayers do not have to go to the tax bureau to handle tax collection matters as in the past, and greatly reduce their tax burden." Xiao Rong said .
The convenience of online tax processing is particularly effective during the epidemic. Since the outbreak of the epidemic, due to the difficulty of cross-border transportation, many places such as Hengqin and Dongguan have broken the border restrictions and realized remote tax collection through online tax collection.
Xiao Rong said that currently, the rate of handling various tax-related affairs in Guangdong has exceeded 90% online. "In the past, everyone used to go to the physical hall to handle taxes. Because of the epidemic, they are now used to online."
Technology empowers to enhance tax certainty
In order to create a more transparent, stable and open international tax experience for foreign investors, the Guangdong Provincial Taxation Bureau of the State Administration of Taxation and the Guangdong Provincial Branch of the State Administration of Foreign Exchange United Bank jointly launched the "International Remittance and Taxation Link" to help companies get through cross-border cooperation. Pay foreign exchange expressway.
Luo Cuiying, a second-level investigator of the International Division of the Guangdong Provincial Taxation Bureau, said: “Taxation is an important issue for non-resident enterprises to do business in Guangdong. However, they often face complex problems such as tax system differences, tax classification, and tax calculation. There are many difficulties in handling foreign exchange payments."
Relying on the "International Huishuitong" platform, taxpayers handle foreign exchange payment tax filing services. They only need to submit the filing form and cross-border contract information online at the Huishuitong enterprise side, and the data can be automatically transmitted to the bank, taxation department and foreign exchange department. The intelligent completion of foreign exchange payments and tax declarations has increased the processing speed by 90% compared to the previous ones.
Luo Cuiying pointed out that the biggest highlight of "International Huishuitong" is the first in the country to launch the "Tax Smart Calculator", which embeds more than 120 international taxation business policy judgment logic points, covers 8 tax calculation formulas, and integrates more than 40 non Trade payment types cover more than 90% of the foreign exchange capital output types of trade in services, transforming complex policies from human judgment and grasping and manual conversion calculations to intelligent tax system output and tax calculation, which greatly improves the certainty of tax-related matters.
In the first half of 2020, taxpayers in Guangdong Province realized 13,435 online payment filings for non-contact through the "International Remittance Link", with the payment amount of approximately RMB 127.3 billion.
It is understood that the Guangdong Provincial Taxation Bureau will explore a new round of reforms such as implementing comprehensive tax declarations and simplifying tax declaration procedures such as value-added tax to further reduce time, links, materials, and costs for market entities to attract more foreign investment. (Finish)