2008年11月30日星期日

China's Ministry of Finance estimates this year and next year to reduce taxes and fees 350,000,000,000

"Is expected to reduce the tax burden on businesses and residents 350,000,000,000 yuan." "China Business" reporter was informed that the exclusive, accompanied by the tsunami in the global financial and large-scale domestic demand from China, or the total amount will be up to 350,000,000,000 yuan of tax reduction , 120,000,000,000 yuan transformation of value-added tax, personal income tax 36,000,000,000 yuan, 10,000,000,000 yuan deposit interest income tax, stamp duty on stock transactions 90,000,000,000 yuan, 15,000,000,000 yuan in real estate taxes and fees, charges 34,000,000,000 yuan, 43.8 billion increase in export tax rebates.

This is the Ministry of Finance at the Central Economic Work Conference held on the eve of the calculations made by, and 350,000,000,000 yuan of tax Rangli "red packets" behind, by a reduction in financial support to further implement the policy.

Hundreds of billions of burden

There are close to the Ministry of Finance sources told the "China Business" reporter, the Ministry of Finance next year will promote the combination of tax reform to reduce the corporate tax burden, promote business investment and household consumption. The main concerns: the full implementation of the VAT reform and restructuring, continue to carry out one after another in the second half of this year's introduction of personal income tax to raise wages deducted from the cost of standard salary, the savings deposit interest waiver to levy income tax, reducing the rate of stamp duty and impose unilateral, lower housing transaction taxes and fees , And other policy measures, the abolition of Ting Zheng and 96 administrative fees (including this year in September Tingzheng city and miscellaneous fees for compulsory education, "Commerce and Industry of the two charges"), as well as the export tax rebate rate adjustment policies.

"These measures are expected to reduce the tax burden on businesses and residents 350,000,000,000 yuan. 120,000,000,000 yuan in transition in which value-added tax, personal income tax 36,000,000,000 yuan, 10,000,000,000 yuan deposit interest income tax, stamp duty on stock transactions 90,000,000,000 yuan, real estate taxes and fees 150 Billion, charging 34,000,000,000 yuan, 43.8 billion increase in export tax rebates. "These sources said.

Since 2008, foreign-funded enterprises, including income tax, personal income tax, deposit interest income tax, stamp duty on stock transactions, the value-added tax, export tax rebates as well as real estate tax policy, and so issued a series of tax policy, to a certain extent Let revenue, "the amount of fighting on March 5."

Reporters obtained data showed that tax reform, on January 1, 2008 to start the implementation of the new Enterprise Income Tax Law. With the caliber of the original tax, to reduce some 93,000,000,000 yuan finance; new "Provisional Regulations on land occupied by the tax," started to raise the standard deduction, the land occupied by foreign-funded enterprises with a unified tax burden is expected to increase tax revenue 20,000,000,000 yuan.

In addition, the first three quarters of this year, the Ministry of Finance to adjust a series of tax policy, on the impact of higher revenue. Among them, according to estimates, auto emission reduction of energy consumption tax policy this year is expected to increase in consumption tax of about 18 billion yuan; stamp duty this year, adjusted twice a year in 2008 is expected to levy stamp duty of about 100,000,000,000 yuan; personal income tax adjustment will reduce income tax About 300 billion; nuclear power business front-end value-added products is expected to back the policy in 2008 will reduce the income tax of about 1.8 billion; implementation of the earthquake relief and reconstruction preferential tax policies for the initial estimate of income tax will be reduced by nearly 150 billion yuan ; In addition, the low-cost housing, affordable rental housing and housing-related preferential policies and tax waiver to deposit interest income tax collection in areas such as taxation policy adjustment will affect the scale of revenue is expected to be difficult.

To expand the budget deficit next year

The increase in tax revenues decline, "embarrassment" has emerged.

"Ministry of Finance statistics of the October increase in tax revenue has been negative growth." These sources told the "China Business" reporter, "out as a result of the export tax rebate, the National Tax Administration of Statistics in October caliber of tax revenue growth is not negative , But in September a further decline. "

In fact, the tax revenue increase of 4 months in a row has declined. Ministry of Finance show that tax revenues in July year-on-year growth of 13.8% in August year-on-year growth of 11% in September year-on-year increase down to 6.5 percent, while year-on-year in October dropped by 0.5 percent.

Reporters obtained data show that in October resulted in a negative growth of tax revenue taxes, value-added tax and export tax rebates cause for concern. Value-added tax in August, when an increase of 23% in September an increase of 13.2 percent, to the increase in October, only 10.2 percent. September export tax rebates for 37,970,000,000 yuan, up 8.1 percent decline, and in October reached 60,200,000,000 yuan, increased 78.8 percent year-on-year, multi-back means that the amount of income taxation.

Increase tax revenue and income growth have emerged as a big drop in the first half of the two still maintain a growth rate of both the growth rate of more than 30%.

"Huisuanqingjiao by the first half of 2007 corporate income tax more income, stamp duty on stock transactions to increase more Qiao Mei, the export tax rebate rate goes down tail back, and so little impact on revenue in the first half more, an increase of 33%." Above The source, "but in the second half of the economy down, the slowdown in economic growth, enterprise-effective response to the impact of declining revenue, coupled with tax cuts in a row issued a series of measures to increase revenue fell more obvious."

"We expect revenue growth downward trend will continue into next year, fiscal revenue and expenditure in 2009 is expected to be difficult, the increase fell significantly, the tension between revenue and expenditure will be very prominent." These sources said.

It was also informed reporters that, for next year's balance of payments difficulties, the Ministry of Finance will increase the budget deficit next year, while the budget deficit in 2008 was 180,000,000,000 yuan, to alleviate the financial balance of payments difficulties.
Tax effect

In fact, China's fiscal revenue has in the past 5 years in a row the average growth rate of more than 20%, higher than the rate of economic growth, in the first half of 2008 revenue and tax revenue growth is still more than 30%. In such a situation, the voice of a tax cut. Central University of Finance and Economics Institute of Taxation Professor Liu Huan, vice president of the view that even if there is no financial crisis, the overall tax structure and trends it should be.

"Now with the government two years 4,000,000,000,000 yuan to increase investment in expanding domestic demand, more than 3000 billion yuan of tax cuts and Rangli still a small number. However, this tax is to send a signal to tell the current corporate tax cuts the Government has the intention of , To implement the proactive fiscal policy is the hope that business investment, which led demonstrations and the effect of a greater role in the tax itself. "Liu Huan said.

However, tax cuts for the expansion of demand will not like the role of the Government to increase investment, can lead to increase social investment. Therefore, Liu Huan said that tax cuts for the economic effect should not be too high expectations. For example, the production-based value-added tax to consumption-based transformation, even if the whole country, but only the purchase of machinery and equipment businesses in order to enjoy preferential value-added tax in transition. "At present, the general forecast of the financial crisis on China's impact on the real economy has only just begun, in the first half of next year may be a more difficult time. In such a big situation, expanding domestic demand, the Government is increasing investment in construction related factors."

This year, adjust the list of major tax policy

Value-added tax transformation

Consumer value-added tax will be implemented by the scope of the northeast and central to expand to 26 cities in eastern Inner Mongolia, 5 cities

Enterprise Income Tax Law

Since January 1, 2008, foreign-funded enterprises with a unified income tax system, a unified tax rate of 25%, to reduce the overall corporate tax burden

Personal Income Tax

Since March 1, 2008, will pay personal income tax from the salary cost of the standard deduction from 1600 yuan / month to 2,000 yuan / month

Real estate policies

From November on, for the first time on the individual purchase of 90 square meters and the following ordinary housing, temporary reunification of the deed tax rate down to 1%; on the sale or purchase of individual housing levy stamp duty waiver; sales of individual housing land value-added tax waiver

Stamp duty on stock transactions

April 24, the rate of stamp duty on securities trading down from 3 ‰ to 1 ‰; 9 on 19, the stamp duty on securities transactions be changed to impose unilateral

The export tax rebate rate

Aug. 1, will be part of the textile, clothing export tax rebate rate from 11% to 13%, part of the bamboo products of export tax rebate rate to 11%. November 1, appropriately raise the labor-intensive, high-tech and high value-added goods, the export tax rebate rate, the goods involved in 3486, accounting for all goods tariff of 25.8 percent of the total. From December 1, to raise part of the labor-intensive products, machinery and electronic products and other products have a greater impact of the export tax rebate rate, covering 3770, total exports accounted for about 27.9%

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