Good policies to solve problems and services to increase confidence-"tax momentum" effectively promotes the recovery of foreign trade and foreign capital
Xinhua News Agency, Beijing, October 6th. Topic: Good policies, difficult problems and excellent services to increase confidence-"tax momentum" strongly promotes the recovery of foreign trade and foreign investment
Xinhua News Agency reporters Yu Qiongyuan and Liu Hongxia
The new crown pneumonia epidemic is spreading globally and has a huge impact on the world economy, especially international trade.
The reporter learned from the State Administration of Taxation that since this year, my country has introduced a series of preferential tax policies and measures to help the steady development of foreign trade and foreign investment.
With the implementation of a package of preferential tax and fee policies and the continuous acceleration of export tax rebates, the burden of foreign trade and foreign-funded enterprises has been reduced. They have used the saved funds "on the blade" and flexibly responded to the new situation. Many enterprises have achieved adverse effects. The trend breaks through and promotes the positive growth of my country’s foreign trade exports.
Stabilize foreign trade: increase tax benefits and speed up tax rebates
"Increase the tax rebate rate by 3 points is equivalent to helping enterprises raise their profits." said Miao Jianzhou, a financial officer of Fujian Pengxiang Industrial Co., Ltd., "As of April, we have declared export sales of more than 28 million yuan, which is more than 10 points. The tax rebate rate enjoys more than 800,000 yuan in tax rebate, which to a certain extent makes up for the loss of this year's sales decline."
Since March this year, the State Council has raised the export tax rebate rate for 1,464 products, of which the export tax rebate rate for 1084 products has been increased to 13%.
The taxation department sends policies to enterprises "point-to-point", and export companies like Fujian Pengxiang Industry can quickly obtain tax rebates, and the financial pressure is relieved.
Not only export tax rebates, but also a package of relief policies such as social security premiums, corporate income tax, and real estate tax, are jointly working to provide rapid "blood transfusion" for companies in trouble.
"The reduction in production capacity caused by the epidemic, the increase in transportation costs, and the control of overseas markets have a direct impact on our exports, and the financial pressure has suddenly appeared." Chongqing Runtong Technology Co., Ltd. mainly exports parts and accessories to European and American countries. Zhong Juan, a company financial officer I calculated the account for the reporter: “Since this year, the company’s property tax and land use tax have been reduced or exempted by more than 1.5 million yuan, more than 12 million yuan has been enjoyed by the western development tax policy, and more than 70 million yuan has been enjoyed by export tax rebates... , Solved our urgent need."
The “real money” reduced and exempted kept the company’s cash flow.
The facilitation measures such as paperless export tax rebates and "non-contact" processing implemented by the tax authorities have accelerated the progress of tax rebates and stabilized corporate expectations.
According to data from the State Administration of Taxation, from January to July this year, taxation authorities across the country processed a total of 895.3 billion yuan in export tax rebates. The average time for tax rebates nationwide has been reduced from 10 working days in 2019 to less than 8 working days, an increase of 20%.
The continuous release of tax benefits and timely export tax rebates have helped export companies relieve financial pressures and strengthen their confidence in development.
Stabilizing foreign investment: optimizing the environment to boost confidence
In order to encourage foreign investors to continue to expand their investment in China, starting from 2018, my country will implement a deferred taxation policy for foreign investors' profits obtained from domestic resident enterprises for domestic direct investment, and no withholding income tax will be levied temporarily.
This policy has become a bright spot in promoting the sustainable development of foreign capital in China under the impact of the epidemic.
According to data from the State Administration of Taxation, in the first half of this year, the number of foreign-funded enterprises enjoying the reinvestment deferred taxation policy increased by 17.4% year-on-year; the accumulated profits used for reinvestment reached 40.76 billion yuan, an increase of 20.1% year-on-year.
Among them, the profit used for reinvestment in the second quarter increased by 36.8% over the first quarter.
Joyson Automotive Safety System (Huzhou) Co., Ltd. is a Japanese-funded enterprise mainly engaged in the production and manufacture of auto parts and accessories.
Affected by the epidemic this year, the company's orders for the first half of the year decreased by 18.3% year-on-year, production and operation were in trouble, and the expansion project originally planned to be promoted was also stranded due to financial pressure.
"With the help of the taxation department, we made full use of our profit reinvestment deferred tax policy. We invested 139 million yuan in new profit distribution and enjoyed 13.94 million yuan in deferred corporate income tax. We plan to use this capital to restart Stranded the project." said Zhang Xiaohong, the head of the company's finance.
Practical and effective policies for benefiting enterprises and continuously optimized business environment have not only retained the “stock” of foreign capital, but also expanded the “increment” of foreign capital.
Chen Sisi, senior financial manager of Xiamen Lirong Investment Management Co., Ltd., said that the tax and fee preferential policies introduced by China have greatly reduced the burden and have released a series of positive signals. China’s rapidly recovering economic and social situation has strengthened the determination of the company’s foreign shareholders to make additional investments. The company decided to invest 29 million yuan in additional profits with dividends.
Stabilizing the supply chain of the industrial chain: data "bridging" smooth circulation
While the overseas market is shrinking, exporting to domestic sales has become a self-rescue method chosen by many foreign trade companies.
Recently, a questionnaire survey conducted by the Anhui Provincial Taxation Department on foreign trade export companies shows that more than 80% of companies are actively exploring online markets, adjusting product categories, increasing research and development of new products, and preparing to expand their business growth through export to domestic sales. Seek to develop new machines.
Local tax authorities actively use big data to closely track the upstream and downstream industrial chains, accurately locate weak points, and timely connect production and sales "breakpoints", and strive to solve the problems of poor raw material supply and disconnection between upstream and downstream production and sales in the process of exporting products to domestic sales, and help companies Open up the industry supply and demand chain.
Li Ping, a researcher at the Taxation Science Research Institute of the State Administration of Taxation, said that the precise application of big tax data has helped foreign trade companies to switch to production and resale, and facilitated the benign interaction between supply and demand, and promoted the formation of a domestic and international dual cycle. The new development pattern promoted played a role.