China News Service, October 22. On October 22, 2021, the Ministry of Finance held a press conference on fiscal revenue and expenditure in the first three quarters of 2021. Tan Long, the first-level inspector of the Taxation Department, pointed out that the tax and fee reduction policies implemented this year will be introduced. , It is expected that the burden of market players will be reduced by more than 700 billion yuan throughout the year.
Tan Long said that since the beginning of this year, in accordance with the spirit of the Central Economic Work Conference and the requirements of the "Government Work Report", the Ministry of Finance, in conjunction with relevant departments, has further optimized the tax and fee reduction policies, improved the effect of policy implementation, and helped market players regain their vitality and increase vitality.
The specific measures include four aspects:
First, continue to implement systemic tax reduction policies such as lowering the value-added tax rate, value-added tax credits, and special additional deductions for personal income tax, and the effect of policy stacking continues to appear.
Second, highlight the strengthening of tax incentives for small and micro enterprises.
While implementing the inclusive tax and fee reduction policy for small and micro enterprises, further increase the tax reduction and exemption for small and micro enterprises and individual industrial and commercial households, and increase the minimum value-added tax threshold for small-scale taxpayers from monthly sales of 100,000 yuan To 150,000 yuan; extend the implementation of the reduction of value-added tax policy for small-scale taxpayers; for small and micro enterprises and individual industrial and commercial households whose annual taxable income is less than 1 million yuan, the income tax will be halved.
Third, increase support for manufacturing and technological innovation.
Continue to implement the policy of 75% of deductions for corporate R&D expenses, and increase the percentage of deductions for manufacturing companies to 100%.
For advanced manufacturing enterprises, the incremental value-added tax will be refunded in full on a monthly basis.
Fourth, continue to clean up and standardize administrative fees and government funds.
Abolish port construction fees and lower the levy standards of airlines' civil aviation development funds.
Intensify efforts to rectify various types of illegal enterprise charges, and strictly control the unreasonable growth of non-tax revenue.
Tan Long emphasized that the tax and fee reduction policies implemented this year are expected to reduce the burden on market entities by more than 700 billion yuan throughout the year.
He continued that in the next step, the Ministry of Finance will conscientiously implement the decisions and deployments of the Party Central Committee and the State Council, resolutely implement the policy of fine-grained tax and fee reduction, continue to clean up and standardize various types of illegal fees and charges, and will resolutely not charge excessive taxes and fees to prevent weakening and reduction. Tax reduction bonus.
At the same time, closely follow the macroeconomic situation, comprehensively consider the financial affordability and the needs of helping enterprises to relieve the difficulties, further study and improve the tax and fee reduction policies, support the protection of market players, employment, and people's livelihood, and promote economic operation to maintain a reasonable range.