China News Service, Beijing, March 11 (Reporter Zhao Jianhua) According to data released by the State Administration of Taxation on the 11th, during the "13th Five-Year Plan" period, China's tax policy incentives for science and technology innovation increased by an average annual rate of 28.5%, and five years of cumulative tax reduction 2.54 trillion yuan (RMB, the same below).
Tax incentives benefit the manufacturing and high-tech service industries more. The three major industries of manufacturing, information transmission and information technology services, scientific research and technical services account for nearly 90% of the tax reductions.
In recent years, China’s taxation policies supporting scientific and technological innovation have been continuously optimized and strengthened, which has effectively promoted enterprises to increase investment in R&D and guided the accumulation of innovative resources to enterprises.
The number of enterprise households that enjoy the extra deduction policy for R&D expenses has increased from 53,000 in 2015 to 339,000 in 2019; the amount of tax relief increased from 72.6 billion yuan to 355.2 billion yuan, reaching 360 billion yuan in 2020, an average annual increase 37.8%.
The deduction of R&D expenses has continued to increase, effectively stimulating R&D investment and innovation vitality of enterprises.
During the "Thirteenth Five-Year Plan" period, various policy support including tax incentives continued to increase, vigorously promote the vigorous development of new economic and new kinetic energy, and promote the accelerated construction of a modern industrial system.
Tax data shows that industries related to the digital economy are growing rapidly. From 2016 to 2020, tax revenue will grow at an average annual rate of 7.2%, which is 3 percentage points faster than the overall national level.
Value-added tax invoice data shows that during the "13th Five-Year Plan" period, the sales revenue of leading enterprises in the "four base" industries including core basic components, advanced basic technology, key basic materials, and industrial technology foundation will increase from 1.09 trillion yuan in 2017 to 2020. The annual growth rate was 1.47 trillion yuan, an average annual growth rate of 10.8%.
The sales revenue of China's high-tech industry increased by 21.3% annually, of which the sales revenue of high-tech service industry increased by 28%.
Value-added tax invoice data shows that China's manufacturing industry has continued to grow during the 13th Five-Year Plan period, especially the rapid development of high-tech manufacturing, and the integration and mutual promotion of manufacturing, information technology, and scientific and technological services.
From 2016 to 2020, the sales revenue of national manufacturing enterprises increased by 11.2% annually. The cumulative sales revenue of high-tech manufacturing has more than doubled, with an average annual growth rate of 15.1%. Some key products of automation, digitization, and intelligence have achieved breakthroughs, and sales revenue has increased significantly. For example, the sales revenue of key products such as robots, industrial control systems, integrated circuits, and optoelectronic devices have more than doubled, and important equipment such as medical diagnostic equipment and new energy vehicles Sales revenue increased by more than 2 times. (Finish)