General

As an important part of this year's new combined tax and fee support policy, the implementation of large-scale value-added tax refunds is a key measure to help enterprises bail out and stabilize the macroeconomic market. Data show that in the first half of the year, a total of 1,845.5 billion yuan of tax refunds were refunded to taxpayers' accounts, which provided a strong impetus for stabilizing market players, and the policy effect was fully manifested.

Direct policy bonuses

Taking into account the provision of cash flow support for enterprises and the promotion of employment, consumption and investment, this year, my country has made great efforts to improve the VAT credit and refund system, implemented large-scale tax refunds for the remaining tax credits in advance, prioritized small and micro enterprises, and focused on supporting the manufacturing industry.

According to the policy arrangement, starting from April 1 this year, the policy scope of refunding the incremental value-added tax credit in full on a monthly basis will be extended to eligible small and micro enterprises and enterprises in 6 industries including manufacturing, and small and micro enterprises will be refunded at one time. The remaining tax credits of enterprises in 6 industries including micro-enterprises and manufacturing, that is, the stock and incremental tax credits of these enterprises are refunded in full at 100%.

"In the past, the tax credits could only be placed on the account and gradually offset the value-added tax. Now the cash 'red envelopes' for tax refunds are directly delivered to us, which relieves the pressure on the company's cash flow and allows us to stabilize our position during the epidemic." Post Liaoning Wang Jian, chief financial officer of British Group Haicheng Building Materials Co., Ltd.

Feng Qiaobin, deputy director of the Macroeconomic Research Department of the Development Research Center of the State Council, believes that the implementation of large-scale tax rebates this year is characterized by strong efforts, wide coverage, and direct burden reduction. "A major problem in the current business operation is mainly reflected in the shortage of funds, and the tax rebate is to directly transfer the tax to the company's account, relieve the cash pressure of the company, and have direct results." Feng Qiaobin said.

In terms of tax refund progress, priority will be given to small and micro enterprises. From April, the remaining tax credits for micro enterprises will be refunded, and from May, the remaining tax credits for small enterprises will be refunded. On this basis, the implementation time of tax rebates for medium-sized enterprises and large enterprises was significantly advanced, and the policy effects were released in the first half of the year.

The tax department vigorously promotes fast tax refunds, and the policy dividends are directly and quickly enjoyed. "Relying on the Electronic Taxation Bureau, we will increase the precise push of the new combined tax and fee support policy, reaching 435 million taxpayers (times). Comply with the policy requirements and comply with the taxpayers' demands, improve the system settings, optimize the collection and management functions, and transform the system process. to ensure faster and more convenient implementation of policies," said Wang Daoshu, deputy director of the State Administration of Taxation.

Wei Yan, deputy director of the Department of Taxation and Administration of the Ministry of Finance, introduced that financial departments at all levels should strengthen coordination and cooperation with taxation and the People's Bank of China, strengthen fund protection, realize information sharing, and form a joint force to ensure that the tax refund can be refunded quickly. Promote the implementation of good policies that benefit enterprises and see practical results.

Data show that from April 1 to June 30 this year, a total of 1,865,000 taxpayers across the country handled 1,722.2 billion yuan in tax refunds. In half a year, a total of 1,845.5 billion yuan of tax refunds were refunded to taxpayers' accounts, which was 2.9 times the scale of tax refunds handled in the whole of last year.

Effectively enhance the development stamina

The implementation of large-scale tax rebates has continued to show results, accurately helping market players cope with operational difficulties. From the perspective of enterprises, small and medium-sized enterprises (including individual industrial and commercial households) are the main beneficiary groups of the tax refund policy, which effectively makes up for the funding gap of small, medium and micro enterprises; from the perspective of industries, the manufacturing industries that enjoy full and incremental tax refunds Six industries benefited significantly.

Hunan Longzhi New Material Technology Co., Ltd. is a specialized and new "little giant" enterprise, providing key basic materials for industries such as new electronic information materials, intelligent manufacturing, and energy storage. It is in the critical period of the completion of the second phase of construction and the release of production capacity, and the capital turnover is under great pressure. "The 8.21 million yuan tax rebates have solved the urgent needs of the company. The company hastened to purchase raw materials. It is expected that the production capacity of the second phase can be fully released, and the output value can be doubled compared with the previous period." said Liao Zhongliang, chairman of Longzhi Technology.

Small, medium and micro enterprises have a large number and a wide range, and support a large number of employed people. At the same time, they are greatly affected by factors such as the epidemic, and their production and operation face many difficulties. They have become the key targets for the implementation of the new combined tax and fee support policy, especially the tax refund policy. Statistics show that as of the end of June, among the newly added tax rebates, tax reductions, fee reductions, and tax deferred fees this year, small, medium and micro enterprises enjoy preferential amounts of nearly 70%, which has played an important role in alleviating the operating pressure of small, medium and micro enterprises.

The remaining tax refund policy uses "real money and silver" as the main body of the market to bring "timely rain", and the majority of beneficiary companies use the tax refund to increase the purchase of raw materials, investment and R&D expenditures, daily operating expenses such as rent, water and electricity, and wages and salaries. development stamina.

In general, the implementation of the detailed and large-scale tax rebate policy has played an important role in helping enterprises to bail out and stabilizing the macroeconomic market. Statistics from the State Administration of Taxation show that in May this year, the sales revenue of tax-refunded enterprises across the country increased by 10.6% year-on-year, 5.2 percentage points faster than that in the first quarter, and 9.6 percentage points higher than that of non-tax-refunded enterprises. "Practice has proved that the implementation of retained tax rebates is beneficial for companies to increase sales, which not only bails out, but also cultivates tax sources." Wei Yan said.

More market players benefit

In accordance with the relevant deployment of the State Council, on the basis of implementing the policies that have already been issued, more industries will implement tax rebates for existing and incremental tax credits. Since July 1, seven industries including wholesale and retail, accommodation and catering will be included in the tax refund policy, allowing more market players to enjoy policy dividends.

"Implementing a large-scale tax rebate policy is a key move in this year's macro-control. By further expanding the benefits of the policy, the inclusiveness of the policy will become more prominent, directly providing cash flow to more companies and relieving the financial pressure of difficult companies." Feng Pretty Bin said.

Since July, a large number of enterprises have become new beneficiaries. The Huxi Leisure Farm in Ji'an City, Jiangxi Province, which integrates leisure sightseeing, rafting, and catering, has been closed for many days under the influence of the epidemic, and the passenger flow and turnover have declined sharply. "After the expansion of the tax refund policy, we have become the direct beneficiaries. In July, it is expected to refund all the remaining tax credits of about 90,000 yuan, and the pressure on capital turnover will be greatly eased." Huang Yanbin, the head of the farm, said that with cash flow With support, it is possible to attract passengers through various forms of promotions, so that small farms can gradually return to the "fireworks" of the past.

"With the expansion of the tax rebate policy, people's livelihood areas such as clothing, food, housing, and transportation can be further benefited, which reflects the country's determination to protect people's livelihood, stabilize employment, and stabilize market entities." Cao Yue, a professor at the School of Business Administration of Hunan University, believes that the The seven industries that have been expanded for the second time have been greatly affected by the epidemic, and there are many employed people. After being included in the scope of tax rebates, it can effectively alleviate the financial pressure of enterprises in difficulty, "transfusion" for market players, and stimulate the vitality of market players.

The expansion of the tax rebate policy for the seven industries is expected to add 140 billion yuan in tax rebates, and the tax rebates will be processed in July. "On the basis of fully respecting the wishes of taxpayers, the tax authorities will strictly implement the work procedures for accepting tax refunds based on applications, further speed up the process, allow market players to enjoy dividends as soon as possible, and help enterprises to overcome difficulties and recover in a timely manner." Xie Wen, director of the Goods and Services Tax Department of the State Administration of Taxation, said.