SCIO press conference on better harnessing taxation to deliver high-quality economic, social development
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E-mail China.org.cn, April 14, 2023
Yicai.com:
The intensity and effectiveness of this year's proactive fiscal policy will be increased. Can you introduce the preferential tax and fee policies that have been rolled out this year, and what kind of measures are worth looking forward to in the future? Thanks.
Wang Daoshu:
Thank you for your concern. Preferential tax and fee policies are an important part of a proactive fiscal policy. Since the beginning of this year, in accordance with the plans of the CPC Central Committee and the State Council, fiscal and tax departments have released two batches of preferential tax and fee policies that have been extended or optimized. As a result, an additional 1.2 trillion yuan in tax and fees is expected to be reduced this year. Adding to that, the continued policy of refunding end-of-tax-period VAT credit is expected to reduce more than 1.8 trillion yuan in tax and fee for business entities throughout the year. Overall, these preferential tax and fee policies have the following three characteristics: First, their continuity has been highlighted. A batch of effective policies with high social expectations has been continued to keep certain social expectations stable, such as the halving of urban land-use tax for logistics enterprises' use of land to store bulk commodities and reducing employment security funds for people with disabilities. Second, precision has been improved through policy optimization. We optimized and implemented a series of policies to help micro and small-business entities overcome difficulties and achieve development, such as by reducing VAT payments for small-scale taxpayers and income tax for micro and small enterprises and self-employed individuals, with a focus on the latter two. Third, innovation in institutions has been promoted. We continued additional tax deductions for R&D expenses and increased this deduction from 75% to cover 100% of such expenses for enterprises. This policy will be implemented in the long run to provide institutional support for creating a better tax system, further inspiring enterprises to pour efforts into innovation. Meanwhile, some temporary arrangements and policies have been phased out in an orderly manner after their expected effects were produced, which will not only promote the standardization of the tax and fee policy system but also reinforce the foundation of the tax system that is conducive to fair competition.
Next, we will continue thoroughly implementing the decisions and plans of the CPC Central Committee and the State Council, making great efforts in four aspects. First, we will intensify efforts to deliver. Each April is an important period for enterprises to declare and pay their taxes and fees. We are seizing this important window of opportunity to roll out a series of new service measures, further strengthen targeted delivery of policies, refine the implementation of policies, and optimize tax handling functions, to see that taxpayers and fee payers know the policies, understand the operations, and can enjoy the benefits. Second, we will follow through and evaluate the effects of preferential tax and fee policies. The implementation of preferential policies has been included as an important part of our efforts to carry out in-depth research and studies. We are working hard to evaluate and analyze the effects of these policies, to deliver tax and fee policies' dividends to the public, and to promote better and tangible results in policy implementation. Third, we will continue to optimize our policies. We are running a campaign for a more coordinated system with fast responses to different problems. In response to the difficulties and problems encountered during policy implementation, prompt actions will be taken to resolve them and facilitate the swift and direct delivery of policy dividends to the public. Fourth, we will strengthen our reserve of policy options. We will coordinate with related departments to pay close attention to changes to economic performance, design better services to build up China's strength in manufacturing, accelerate the implementation of the innovation-driven development strategy, and strengthen our reserve of tax and fee policy options to enrich our policy toolbox, so as to better drive high-quality economic development.
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