China News Agency, Beijing, March 21 (Reporter Zhao Jianhua) The executive meeting of the State Council of China held on the 21st decided to implement a large-scale value-added tax refund policy arrangement to provide strong support for stabilizing the macroeconomic market.
This year's value-added tax refund is about 1.5 trillion yuan (RMB, the same below), which is a direct and efficient relief measure for various market players, and a key measure to stabilize growth, stabilize market players and ensure employment.
According to the Ministry of Finance of the People's Republic of China, a combined tax rebate policy combining institutional, phased and one-time measures has been implemented to increase the annual tax rebate by about 1.5 trillion yuan.
All eligible small and micro enterprises, as well as "manufacturing", "scientific research and technical services", "electricity, heat, gas and water production and supply", "software and information technology services", "ecological protection and environmental protection" The tax credits for the six industries, including the management industry, transportation, warehousing and postal industry, were all refunded in place, which directly increased the cash flow of enterprises.
In the specific operation, priority will be given to small and micro enterprises, and the existing tax credits for small and micro enterprises will be refunded in one lump sum before the end of June.
On the basis that the Ministry of Finance is responsible for 50% of the tax refund funds according to the current tax system, the transfer payment funds of 1.2 trillion yuan from the central government will be released in a timely manner, including the newly introduced special funds for the tax refund policy, other special funds for tax rebates, tax reduction and fee reduction, Supplement special funds for county and district financial resources.
The first batch of special transfer payments of 400 billion yuan to support small and micro enterprises' retained tax rebates were issued on the afternoon of March 21.
The special fund for supporting small and micro enterprises with tax rebates issued on the same day will be used to provide cash flow to small and micro enterprises for tax rebate financial protection, relieve difficulties for enterprises, and effectively guarantee stable growth, market entities and employment.
Other special funds will also be released as soon as possible according to the progress of the relevant work.
The Ministry of Finance has formulated and issued relevant measures to clarify the management requirements for the allocation and filing of special funds, budget issuance, and fund allocation.
Special funds are included in the scope of direct financial funds, and dynamic monitoring is implemented to prevent idle misappropriation, to ensure that tax rebate funds go directly to market entities, and local subsidies go directly to the grassroots level in cities and counties.
Special funds shall not be used for the construction of government buildings, and shall not be used for the construction of various image projects and performance projects, and shall not be used for expenditures such as land reserves and new projects for the renovation of shanty towns.
The Ministry of Finance stated that it will establish a fund pre-allocation mechanism, monthly pre-allocation and rolling liquidation, to ensure that the local treasury dynamically holds the funds required for tax rebates for half a month, and to support local governments to do a good job in tax rebate work. Guaranteed.
The Ministry of Finance also requires local financial departments to promptly formulate a policy plan for VAT credits and refunds that are refined to counties and districts, focusing on ensuring the needs of small and micro enterprises for residual credits and tax refunds and the needs of county and district tax refund funds, and promptly discover and properly deal with problems in tax refunds. Guarantee the timely receipt of tax refund "red envelopes".
While arranging the newly introduced special funds for tax rebates, other special funds for tax rebates, tax reduction and fee reduction and special funds for supplementing county and district financial resources are arranged to enhance local financial resources, especially counties and districts, and ensure the smooth operation of county and district finances.
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