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The State Council executive meeting was held on March 18th. From May 1 this year, the scope of the pilot reform will be extended to the construction industry, real estate industry, financial industry and life service industry, to achieve full coverage of the goods and services industry, and to open up taxes. Deducting the chain to support the development of modern service industries and manufacturing upgrades.
This means that from May 1st, the business tax will be withdrawn from the historical stage. This is a major tax adjustment in China since the tax-sharing reform in 1994. The 500 billion yuan is expected to reduce the burden on enterprises after the comprehensive camp reform this year.
“The increase in the business reform means that the industrial and commercial tax system will be transformed from a dual tax system to a unified tax system,†said Liu Shangxi, director of the Financial Science Research Institute of the Ministry of Finance.
In 1993, the State Council promulgated the "Provisional Regulations on Value-Added Taxes", which stipulated that a value-added tax should be uniformly imposed on all goods and processing, repair, repair and distribution services, and business taxes should be levied on other labor, real estate and intangible assets.
Zhang Junwei, director of the research department of the Macroeconomic Research Department of the Development Research Center of the State Council, told reporters that the reform of the industrial and commercial tax system in the 1990s was originally to establish a turnover tax system dominated by value-added tax, but in fact the value-added tax was only realized in the industrial sector. VAT, business tax dual tax system.
In 2012, China began to expand the value-added tax and started the trial of the reform of the camp. By the end of 2015, the camp will increase coverage of “37†industries, namely transportation, postal and telecommunications industries and R&D technology, information technology, cultural creativity, logistics assistance, tangible movable property leasing, forensic consulting, radio and television 7 A modern service industry.
“The remaining construction, real estate, financial and life services are the most difficult bones for the reform.†Zhang Junwei said.
Not only is it difficult, these four industries are still the focus of the camp.
According to the calculation of the fiscal and taxation departments, the above four industries involve nearly 10 million taxpayers, which is nearly 1.7 times of the total number of taxpayers in the previous period of reform. The annual business tax is about 1.9 trillion yuan, accounting for the proportion of the original business tax revenue. About 80%.
In other words, only by covering these four industries, the reform of the camp will have real value.
According to the published plan, the construction industry and real estate industry will apply the 11% tax rate, and the financial industry and life service industry will apply the 6% tax rate.
“On the surface, the construction industry and the real estate industry have high tax rates, but the business tax and value-added tax rates cannot be directly compared because the tax base is different.†Liu Shangxi said.
From the perspective of tax collection, business tax is taxed in the circulation, and there is often a problem of double taxation, while value-added tax is a tax on value-added part, avoiding double taxation.
Taking real estate as an example, when the developer purchases the materials needed for construction, the price of these materials already includes the business tax, but the completed building needs to accrue the business tax according to the full price, resulting in double taxation. After the reform of the camp, it will avoid such repeated taxation.
One fact that deserves attention is that due to the increase in the camp, some of the costs that could not be tax deductible become deductible. From January 1, 2009, the VAT included in the fixed assets such as newly purchased equipment will be deducted. Since May 1 this year, real estate has also been included in the deduction.
Shi Zhengwen, director of the Finance and Tax Law Research Center of China University of Political Science and Law and vice president of the China Finance and Taxation Law Research Association, said that these deductions will lead to consumer value-added tax. Because real estate, equipment, etc. can be deducted, companies can make more money for technological transformation and innovation, and they can expand investment and promote economic growth.
"Not only that, but also conducive to the division of labor and cooperation." Shi Zhengwen said that because the reform of the camp to avoid repeated taxation, enterprises do not have to be large, small, and full, a product, a service can be through the fine of multiple enterprises The division of labor is completed to improve the quality of products and services.
“The reform of the camp is a major positive for the future economic development.†Wang Dongsheng, president of the taxation firm of China Taxation Network, said that China’s economic development at this stage requires continuous optimization and upgrading of the industrial structure, and the improvement of the service industry is a sign of industrial optimization and upgrading.
Some people believe that with the increasing "service level" of today's social products, the division of goods and services is difficult in economic life. When a business may be identified as a sale of goods and may be deemed to provide services, it may result in different types of taxes, applicable tax rates, and taxation rules due to different certification results.
The collection of value-added tax on goods and services is unified, and the change in the camp has just solved this contradiction.
"The country is now facing the pressure of industrial upgrading, and it needs to promote industrial upgrading by increasing the proportion of services." Zhang Junwei said that to develop the service industry, it is necessary to reduce the burden on enterprises, and tax reduction is needed.
In Liu Shangxi's view, through the reform of the camp, the manufacturing industry will purchase a large number of services in the service industry, thereby promoting the integration of manufacturing and service industries. Such integrated development is exactly what is needed for the current economic transformation and upgrading of China.
Ensuring that all industry tax burdens are only reduced or not is the principle of the increase in the camp. There are some concerns in the society about such a reduction. Some voices believe that the increase in tax reductions in the camps may have an impact on the revenues of the central and local governments.
"In terms of scale, 500 billion yuan can only be regarded as a large scale, which is affordable to the public." Shi Zhengwen said that the tax increase and reduction of the camp reform is not small, but the tax cuts reduce the burden on enterprises and expand investment and consumption. The downward pressure on the economy has been cut, the economy has stabilized and recovered, and fiscal revenue has naturally increased.
From the perspective of tax flow attribution, business tax is a local tax, and value-added tax is a tax shared by the central and local governments. In the pilot reform of the camp reform initiated in 2012, the income from the camp reform was attributed to the local government. Shi Zhengwen said that after the comprehensive reform of the battalion, it is necessary to adjust the income relationship between the central and local governments, and to solve the problems of financial difficulties of some local governments and fiscal imbalances between regions.
So far, there have been five tax rates in the camp reform: 17%, 13%, 11%, 6%, and 0. In the opinion of experts, the next adjustment is needed.
"We are gradually transforming, and the issue of VAT rate needs to be studied, at least it should be simple." Zhang Junwei said, for example, the five-rate tax rate is reduced to two. In Shi Zhengwen's view, the multi-stability of the tax rate will result in different tax burdens in different industries. When the trial reform is mature and legislation is carried out, the tax rate issue needs to be integrated.
Both Zhang Junwei and Shi Zhengwen believe that the reform of the camp is only a step in the adjustment of the tax system. Next, it is necessary to adjust the proportional relationship between direct and indirect taxes and improve the tax system.
Abstract The tax burden of enterprises is expected to drop 500 billion yuan this year. The State Council executive meeting was held on March 18th. From May 1 this year, the pilot camp will be expanded to the construction industry, real estate industry, financial industry and life service industry to realize the goods and services industry...
The tax burden of enterprises is expected to drop 500 billion yuan this year.