More tax incentives! my country encourages companies to increase R&D investment and then make practical moves
Xinhua News Agency, Beijing, September 14 (Reporter Duowei Zou) In order to further enhance the enthusiasm of enterprises for research and development and stimulate their innovation vitality, the State Administration of Taxation issued on the 14th the "Announcement on the Further Implementation of the Policy on Additional Deductions for Research and Development Expenses."
The announcement pointed out that during the tax declaration period in October this year, on the basis of allowing enterprises to enjoy the extra deduction of R&D expenses in the first half of the year, another quarterly discount will be added.
As an important tax preferential policy to promote the technological progress of enterprises, the deduction of R&D expenses, in layman's terms, means that enterprises can enjoy corresponding preferential tax measures in accordance with the law when they actually incur R&D expenses.
The announcement made it clear that when companies prepay in October and declare the third quarter (quarterly prepaid) or September (monthly prepaid) corporate income tax, they can choose to enjoy the preferential deduction policy for the first three quarters of research and development expenses.
Those who do not choose to enjoy the preferential treatment during the prepayment declaration period in October can enjoy unified enjoyment in 2022 when the 2021 corporate income tax is settled and paid.
Taking into account the low level of financial accounting of some small, medium and micro enterprises, the announcement also simplified and optimized the format of R&D expenditure auxiliary accounts and the required information: the 2015 version of "4 auxiliary accounts + 1 summary table" was adjusted to the 2021 version" 1 auxiliary account + 1 summary sheet".
After the release of the 2021 version of the auxiliary account style, the 2015 version of the auxiliary account style will continue to be valid, and enterprises can choose to use it, or they can design their own auxiliary account style according to the regulations.
Regarding the calculation method of the “other related expenses” limit in R&D expenses, the announcement has also made new adjustments: if a company conducts multiple R&D activities in a tax year, the “other related expenses” limit will be calculated separately for each R&D project. , The “other related expenses” limit of all R&D projects is calculated uniformly, the calculation method is simplified, and the “other related expenses” limit of multiple projects is allowed to be adjusted and used, and the amount that can be deducted is generally increased.
"The R&D expense deduction policy is an effective policy tool to support enterprise technological innovation." Li Xuhong, director of the Institute of Finance and Taxation Policy and Application of Beijing National Accounting Institute, said that compared with the current policy that allows the R&D expense deduction in the first half of the year, this year One more quarterly tax preference, and optimization and simplification of the R&D expenditure auxiliary account style can help companies enjoy preferential benefits earlier and more conveniently, and tax cuts can stimulate the enthusiasm of enterprises to increase R&D investment and promote technological innovation.