Li Keqiang presided over an executive meeting of the State Council to deploy and implement policies such as increasing the percentage of R&D expenses deductions for manufacturing enterprises

Li Keqiang presided over the executive meeting of the State Council

Deploy and implement policies such as increasing the percentage of deductions for R&D expenses of manufacturing enterprises to encourage enterprises to innovate and promote industrial upgrading

Decided to extend the deferred principal and interest payment policy and credit loan support plan for inclusive small and micro enterprise loans to the end of the year

Passed the Vocational Education Law of the People's Republic of China (Revised Draft)

　　Premier Li Keqiang of the State Council presided over an executive meeting of the State Council on March 24 to deploy and implement policies such as increasing the percentage of additional deductions for manufacturing enterprises’ R&D expenses to encourage enterprise innovation and promote industrial upgrading; it was decided to defer the principal and interest payment policy for inclusive small and micro enterprise loans He credit loan support plan was further extended to the end of the year; the Vocational Education Law of the People's Republic of China (Revised Draft) was passed.

　　The meeting pointed out that in accordance with the deployment of the Party Central Committee and the State Council, it is necessary to make better use of the role of enterprise innovation as the main body, make more use of market-oriented, fair and inclusive incentive policies, spur enterprises and the whole society to increase R&D investment, enhance the stamina of economic development, and promote the optimization of economic structure. .

In recent years, the tax incentives for the deduction of R&D expenses have been continuously increased, which has effectively promoted corporate innovation.

In order to implement the "Government Work Report" related measures to support enterprise innovation, the meeting decided that, starting from January 1 this year, the rate of deduction for R&D expenses of manufacturing enterprises will be increased from 75% to 100%, which is equivalent to every 1 million invested by enterprises. RMB 2 million can be deducted from the taxable income for research and development expenses.

The implementation of this policy is expected to reduce taxes by more than 360 billion yuan last year, and an additional 80 billion yuan in tax cuts for enterprises this year.

This institutional arrangement is the most powerful policy among structural tax cuts this year.

The second is to reform the calculation method for the settlement and payment of R&D expenses, allowing enterprises to choose to enjoy the preferential deduction for half a year. The R&D expenses for the first half of the year will be changed from the deduction when the income tax is settled and paid in the following year to the prepayment in October of the current year. The deduction will benefit the enterprise as soon as possible.

At the same time, it is necessary to study tax support policies for technology R&D service companies and "double innovation" companies.

The meeting requested that it be necessary to strengthen policy presentation and interpretation, optimize tax services, streamline the review process, improve the convenience of enterprises to enjoy policies, and do good things well.

　　The meeting pointed out that the two direct monetary policy tools to support small and micro enterprises implemented since last year are to provide incentives for local corporate banks to handle inclusive small and micro enterprise loan deferred repayment and provide preferential financial support for their issuance of small and micro credit loans. It has played an important role in helping small and micro enterprises to overcome difficulties, ensure employment and people's livelihood, and stabilize the economic fundamentals.

In order to maintain the unabated financial support for small and micro enterprises, and to ensure more convenient financing for small and micro enterprises, and a steady decrease in overall financing costs, the meeting decided to extend the implementation of the two direct monetary policy tools in the early stage to the basis of the first quarter of this year. In order to further extend the implementation period to the end of this year, we will provide further assistance to small and micro enterprises to better play their important role in stabilizing employment.

First, for inclusive small and micro enterprise loans due before the end of 2021, the enterprise and the bank independently negotiate the deferment of principal and interest, and continue to provide incentives to the local corporate bank that handles the deferred principal and interest of the loan. The incentive ratio is 1% of the loan principal.

The second is to issue small and micro credit loans to qualified local corporate banks, and continue to provide preferential financial support at 40% of the principal.

At the same time, it is necessary to study and increase policy support for individual industrial and commercial households.

　　The meeting pointed out that running vocational education must meet the requirements of the development of the socialist market economy, adhere to reform and innovation, highlight employment orientation, ease structural contradictions in employment, and promote the improvement of employment quality.

The meeting passed the "Vocational Education Law of the People's Republic of China (Revised Draft)", which stipulated the integration of industry and education, school-enterprise cooperation, support for social forces to run vocational schools, and promotion of the mutual recognition of academic achievements between vocational education and general education.

The meeting decided to submit the draft to the Standing Committee of the National People's Congress for deliberation.

　　The meeting also studied other matters.