(Economic Observation) Preferential tax policies stimulate innovation and entrepreneurship
China News Service, Beijing, October 25 (Reporter Zhao Jianhua) In recent years, China has continued to increase its support for innovation and entrepreneurship and has introduced a series of preferential tax policies.
Up to now, more than 100 preferential tax policies and measures have been introduced in major links and key areas.
-Promote the incubation of innovative entities.
From January 1, 2019 to December 31, 2021, the income derived from incubation services provided by national and provincial technology business incubators and national record-keeping crowd-creation spaces to incubators will be exempt from value-added tax.
Real estate and land used by national and provincial science and technology business incubators and state-recorded crowd-creation spaces for self-use and free or rented out to the incubators are exempted from real estate tax and urban land use tax.
——Support the aggregation of venture capital.
From September 1, 2018 to December 31, 2023, the interest income obtained by financial institutions from issuing small loans to small businesses, micro businesses and individual industrial and commercial households can be exempted from value-added tax if the relevant conditions are met.
——Promote the transformation and upgrading of enterprises.
Starting from January 1 this year, the percentage of deductions for manufacturing enterprises’ R&D expenses will be increased from 75% to 100%.
The State Administration of Taxation recently issued the "Announcement on Further Implementing the Policy for the Additional Deduction of R&D Expenses", clarifying that the tax declaration period in October 2021 will allow enterprises to enjoy the additional deduction of R&D expenses for the first half of the year, plus one additional quarter Preferential treatment will further increase innovation momentum for enterprises.
——Support technological innovation.
Enterprise income tax is levied at a reduced rate of 15% for high-tech enterprises and technologically advanced service enterprises, the loss carry-over period for high-tech enterprises and technological small and medium-sized enterprises is extended to 10 years, and taxpayers of advanced manufacturing industries are given a value-added tax at the end of the period. Tax rebate incentives.
The implementation of value-added tax on software products will be refunded if it exceeds the tax burden, especially for key software companies encouraged by the state, the corporate income tax will be levied at a reduced tax rate of 10%.
After the national policy was promulgated, the taxation department took multiple measures and provided precise services to promote the implementation of preferential tax policies.
Tax reduction and fee reduction is an effective policy tool to support technological innovation of enterprises, especially manufacturing enterprises.
Since the beginning of this year, the taxation department has continued to reduce the burden and strengthen the muscles and bones of manufacturing enterprises, and use the reduced "real money" to continue to enhance the innovation vitality of enterprises.
Small and micro enterprises are the new force of innovation and entrepreneurship.
They are small in scale and low in resilience to risks, and often face problems such as shortage of funds and difficulty in employment.
A series of tax preferential policies issued by the state, and small and micro enterprises' tax preferential policies have been increasing year by year, effectively stabilizing the expectations of market entities, and the vitality of entrepreneurship and innovation is bursting out.
According to data released by the State Administration of Taxation, from January to August this year, a total of 140.2 billion yuan in tax reductions were added to the preferential tax and fee policies to promote the development of small and micro enterprises, accounting for 45.2% of the total new tax reductions.
As of July this year, the new VAT exemption policy for small-scale taxpayers has been introduced this year (the starting point has been increased from 100,000 yuan to 150,000 yuan per month), the policy of halving and then halving the income tax of small and low-profit enterprises, and individual industrial and commercial households The policy of halving personal income tax has increased tax cuts of 18.126 billion yuan, 14.025 billion yuan and 3.607 billion yuan respectively.
Li Xuhong, director of the Institute of Fiscal and Tax Policies and Application of Beijing National Accounting Institute, said that the series of tax-benefit policies introduced by the taxation department provide targeted support and precise force for market entities such as small and micro enterprises, individual industrial and commercial households, and high-tech enterprises. The earth has promoted the transformation and upgrading of the industrial structure, and has also provided support for insisting on the core position of innovation in the overall situation of China's modernization during the "14th Five-Year Plan" period.
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