Experts: we should increase the intensity of direct tax reduction to bail out the financing difficulties of small and medium-sized enterprises-Shanghai Metals Market

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Experts: we should increase the intensity of direct tax reduction to bail out the financing difficulties of small and medium-sized enterprises

Translation 08:30:29AM May 22, 2019 Source:Securities Daily

SMM News: since last year, small and medium-sized enterprises have been faced with such problems as rising production costs, difficult financing, and expensive financing. In order to alleviate the difficulties of small and medium-sized enterprises, stabilize and enhance the confidence and expectations of enterprises, they have issued a package of rescue policies. Among them, fiscal and tax support has become an important starting point.

On April 8 this year, the General Office of the CPC Central Committee and the General Office of the State Council issued the guiding opinions on promoting the healthy Development of small and medium-sized Enterprises, and put forward four measures to improve fiscal and taxation support for the financing of small and medium-sized enterprises.

"the state has always regarded the production and operation of small and medium-sized enterprises as the key object of concern of the national economy, and attaches great importance to the healthy development of small and medium-sized enterprises." Zhang Yiqun, vice chairman of the China Special Committee on Budget performance, told reporters that the fiscal and tax support policy can be summarized as "one drop and three increases."

"one reduction" means further reducing the tax burden on small and medium-sized enterprises. In addition to continuing to promote tax reduction and fee reduction, it is further clearly proposed to impose zero fees and charges on the administrative charges of small and medium-sized enterprises. We will implement a policy of inclusive tax relief for small and micro enterprises and science and technology start-ups, significantly reduce the social security payment rates for small and medium-sized enterprises, and reduce the tax burden on small and medium-sized enterprises in an all-round way.

"three increases" means to increase the financing guarantee for small and micro enterprises, to increase the government procurement policy to support small and medium-sized and micro enterprises, and to increase the guidance and driving measures of government funds to small and micro enterprises. It can be said that we should strengthen our support for small and medium-sized enterprises in an all-round and multi-angle way, on the one hand, to improve the survival ability of small and medium-sized and micro enterprises, to ensure their normal production and operation, and on the other hand, to open up space for the development of small and medium-sized enterprises, improve the environment, and fair competition.

Fu Yifu, a senior researcher at Su Ning Financial Research Institute, told reporters that fiscal and tax policies can support the development of small and medium-sized enterprises from two dimensions: reducing the tax burden and alleviating the difficulty of financing. Among them, reducing the tax burden is equivalent to "slimming" small and medium-sized enterprises, reducing operating costs, so that enterprises have more funds to expand reproduction or improve production technology, and then increase profits; In terms of financing, fiscal and taxation policies can provide a relatively fair financing environment for small and medium-sized enterprises, as well as the credit guarantee needed for financing guarantee, and smooth financing channels and so on.

Zhang Yiqun suggested that the next step is to continue to increase the tilt of tax relief for small and medium-sized enterprises, especially to increase the intensity of direct tax reduction, so as to improve the survival ability and development space of small and medium-sized enterprises; Second, it is necessary to distinguish the tax reduction of small and medium-sized and micro enterprises, regard science and technology start-up enterprises as the focus of tax reduction of small and medium-sized and micro enterprises, encourage the advantages of scientific and technological innovation of small and medium-sized enterprises, train small giants of science and technology, and promote key technological breakthroughs; Third, government procurement should treat small and medium-sized enterprises equally, abolish all kinds of threshold restrictions, encourage full competition and bidding, and encourage the application and promotion of new technologies. Fourth, give full play to the advantages of government industrial guidance, the development of small and medium-sized enterprises, high and new technology, and so on, to participate in shares but not control small and medium-sized enterprises, and promote the free development and self-growth of small and medium-sized enterprises; Fifth, finance should break the system scale restrictions on the use of scientific research funds, bring scientific and technological innovative independent intellectual property small and medium-sized enterprises into the scope of subsidy support, and speed up the upgrading of technological strength of small and medium-sized enterprises.

Fu Yifu suggested that in terms of tax reduction, small and medium-sized enterprises should be more inclined to small and medium-sized enterprises, for example, they can consider further expanding the scope of income tax concessions for small and micro enterprises, raising the ceiling of annual tax income, and speeding up the transformation of government functions. Clean up the charges for small and medium-sized enterprises, improve the accuracy of fiscal and taxation policy support, to ensure that the policies have been effective; In terms of financing, it is necessary to increase the implementation of inclusive financial policies for small and medium-sized and micro enterprises and promote the high-quality development of small and medium-sized enterprises. At the same time, we should actively promote the promotion and application of new financing methods such as accounts receivable, discounted bills, emergency loans, and so on. In order to effectively alleviate the financing difficulties of small and medium-sized enterprises, financing is expensive stubborn disease.

Experts: we should increase the intensity of direct tax reduction to bail out the financing difficulties of small and medium-sized enterprises

Translation 08:30:29AM May 22, 2019 Source:Securities Daily

SMM News: since last year, small and medium-sized enterprises have been faced with such problems as rising production costs, difficult financing, and expensive financing. In order to alleviate the difficulties of small and medium-sized enterprises, stabilize and enhance the confidence and expectations of enterprises, they have issued a package of rescue policies. Among them, fiscal and tax support has become an important starting point.

On April 8 this year, the General Office of the CPC Central Committee and the General Office of the State Council issued the guiding opinions on promoting the healthy Development of small and medium-sized Enterprises, and put forward four measures to improve fiscal and taxation support for the financing of small and medium-sized enterprises.

"the state has always regarded the production and operation of small and medium-sized enterprises as the key object of concern of the national economy, and attaches great importance to the healthy development of small and medium-sized enterprises." Zhang Yiqun, vice chairman of the China Special Committee on Budget performance, told reporters that the fiscal and tax support policy can be summarized as "one drop and three increases."

"one reduction" means further reducing the tax burden on small and medium-sized enterprises. In addition to continuing to promote tax reduction and fee reduction, it is further clearly proposed to impose zero fees and charges on the administrative charges of small and medium-sized enterprises. We will implement a policy of inclusive tax relief for small and micro enterprises and science and technology start-ups, significantly reduce the social security payment rates for small and medium-sized enterprises, and reduce the tax burden on small and medium-sized enterprises in an all-round way.

"three increases" means to increase the financing guarantee for small and micro enterprises, to increase the government procurement policy to support small and medium-sized and micro enterprises, and to increase the guidance and driving measures of government funds to small and micro enterprises. It can be said that we should strengthen our support for small and medium-sized enterprises in an all-round and multi-angle way, on the one hand, to improve the survival ability of small and medium-sized and micro enterprises, to ensure their normal production and operation, and on the other hand, to open up space for the development of small and medium-sized enterprises, improve the environment, and fair competition.

Fu Yifu, a senior researcher at Su Ning Financial Research Institute, told reporters that fiscal and tax policies can support the development of small and medium-sized enterprises from two dimensions: reducing the tax burden and alleviating the difficulty of financing. Among them, reducing the tax burden is equivalent to "slimming" small and medium-sized enterprises, reducing operating costs, so that enterprises have more funds to expand reproduction or improve production technology, and then increase profits; In terms of financing, fiscal and taxation policies can provide a relatively fair financing environment for small and medium-sized enterprises, as well as the credit guarantee needed for financing guarantee, and smooth financing channels and so on.

Zhang Yiqun suggested that the next step is to continue to increase the tilt of tax relief for small and medium-sized enterprises, especially to increase the intensity of direct tax reduction, so as to improve the survival ability and development space of small and medium-sized enterprises; Second, it is necessary to distinguish the tax reduction of small and medium-sized and micro enterprises, regard science and technology start-up enterprises as the focus of tax reduction of small and medium-sized and micro enterprises, encourage the advantages of scientific and technological innovation of small and medium-sized enterprises, train small giants of science and technology, and promote key technological breakthroughs; Third, government procurement should treat small and medium-sized enterprises equally, abolish all kinds of threshold restrictions, encourage full competition and bidding, and encourage the application and promotion of new technologies. Fourth, give full play to the advantages of government industrial guidance, the development of small and medium-sized enterprises, high and new technology, and so on, to participate in shares but not control small and medium-sized enterprises, and promote the free development and self-growth of small and medium-sized enterprises; Fifth, finance should break the system scale restrictions on the use of scientific research funds, bring scientific and technological innovative independent intellectual property small and medium-sized enterprises into the scope of subsidy support, and speed up the upgrading of technological strength of small and medium-sized enterprises.

Fu Yifu suggested that in terms of tax reduction, small and medium-sized enterprises should be more inclined to small and medium-sized enterprises, for example, they can consider further expanding the scope of income tax concessions for small and micro enterprises, raising the ceiling of annual tax income, and speeding up the transformation of government functions. Clean up the charges for small and medium-sized enterprises, improve the accuracy of fiscal and taxation policy support, to ensure that the policies have been effective; In terms of financing, it is necessary to increase the implementation of inclusive financial policies for small and medium-sized and micro enterprises and promote the high-quality development of small and medium-sized enterprises. At the same time, we should actively promote the promotion and application of new financing methods such as accounts receivable, discounted bills, emergency loans, and so on. In order to effectively alleviate the financing difficulties of small and medium-sized enterprises, financing is expensive stubborn disease.