Xinhua news agency, Beijing, March 5 (reporters wang Yuxiao and Shen Cheng) - the stock tax credits for small and micro enterprises will be refunded at one time before the end of June, and the incremental tax credits will be refunded in full; The government work report submitted for deliberation on the 5th clearly implemented the new combined tax support policy. It is estimated that the annual tax rebate and tax reduction will be about 2.5 trillion yuan, of which about 1.5 trillion yuan will be retained, and all the tax rebate funds will go directly to enterprises.

This group of policies adheres to the combination of phased measures and institutional arrangements, and both tax reduction and tax rebate are carried out. On the one hand, we will continue to implement the policy of tax reduction and fee reduction to support the manufacturing industry, small and micro enterprises and individual industrial and commercial households, and increase the scope of reduction and exemption and expand the scope of application. On the other hand, we will comprehensively consider providing cash flow support for enterprises, promoting consumption and investment, and vigorously improve the value-added tax rebate system. This year, we will implement a large-scale tax rebate for the amount of value-added tax.

Specifically, the report highlights a series of measures: halve the annual taxable income of small and micro enterprises from 1 million yuan to 3 million yuan; Focus on supporting the manufacturing industry and comprehensively solve the problem of tax rebate in manufacturing, scientific research and technical services, ecological and environmental protection, electric power and gas, transportation and other industries; The central government will increase financial support to local governments, and the subsidy funds will go directly to cities and counties

“The new policy focuses on key areas and key links such as manufacturing, small and micro enterprises and scientific and technological innovation. It has higher accuracy and will release multiple policy dividends.” Liu Xingyun, deputy to the National People’s Congress and director of the Shandong Provincial Department of finance, said.

Liu Shangxi, member of the National Committee of the Chinese people’s Political Consultative Conference and President of the Chinese Academy of financial Sciences, said that the further strengthening of the tax rebate policy will help alleviate the capital pressure of market subjects, increase enterprise cash flow, and effectively reduce the burden and add vitality to enterprises.

From “reducing taxes and fees” to “reducing taxes and fees + delaying taxes and fees”, in order to support the development of market players, China has continued to implement the policy of reducing taxes and fees in recent years, with more than 1 trillion yuan of new taxes and fees in 2021.

The relevant person in charge of the State Administration of Taxation said that the tax department will continue to optimize the tax payment services to ensure that the reduction is in place, the exemption is in place, the delay is in place and the refund is in place, so that the market subjects and the people have a real sense of gain.