Introduction: Premier Li Keqiang chaired an executive meeting of the State Council on April 19, and decided to introduce further tax reduction measures to continue to promote the real economy to reduce costs and increase stamina. The meeting decided that the basis for measures to reduce fees by 200 billion yuan has been introduced in the first quarter. to further introduce tax reduction measures.
The government’s continuous distribution of red envelopes to the real economy is a great benefit to enterprises. What benefits has our textile industry received from this tax reduction measure?
First, continue to promote the replacement of business tax with value-added tax and simplify the value-added tax rate structure.
Interpretation: For the textile market, the cotton market directly benefits. Starting from July 1st, the cotton value-added tax rate will be reduced to 11%. First, it will help domestic cotton processing companies reduce their tax burden; secondly, it will further reduce the cost of cotton for textile companies; thirdly, the cost of imported cotton will decrease, and the quantity of imported cotton may decrease. There is an increase. It can be said that textile companies have seen a certain decline in both tax burden and costs.
Second, the scope of small and low-profit enterprises that enjoy preferential corporate income tax is expanded.
Interpretation: In recent years, the scope of income tax collection for small and micro enterprises has been adjusted many times, and the scope has continued to expand. In 2014, the scope of corporate income tax preferential treatment increased from 100,000 to 200,000, and in 2015 the scope was expanded again, from 200,000 to 300,000. This year, the government once again expanded the scope of preferential treatment for small and micro enterprises from the original 300,000 to 500,000. For example, before this policy came out, a company with a taxable income of 400,000 yuan should pay 20% income tax, which is 80,000 yuan. However, this time the policy reform was introduced, it was expanded from 300,000 yuan to 500,000 yuan. Enterprises with a tax burden of RMB 400,000 that do not enjoy the halved tax burden can have their taxes halved. Now they only need to pay an income tax of RMB 40,000. This is a visible reduction in pressure and burden for small and micro enterprises.
3. Value-added tax invoice certification is extended from 180 days to 360 days.
Interpretation: Starting from July 1, 2017, the deduction certification of special VAT invoices has been extended from 180 days to 360 days. From the original deduction certification period of 90 days to the current 180 days and then to the future 360 days, this is very beneficial to the enterprise. It is understood that many small and micro enterprises in Jiangsu and Zhejiang areas have the invoice issuer’s accountant hand over the invoice directly to the business The salesperson then transfers it to the invoice collector. Since the salesperson is not so sensitive to the financial concept of time, he often hands it over to the other party beyond the time limit due to negligence, causing the other party to be unable to deduct it on time, resulting in losses. Now certified invoices can be directly checked for deduction through the online check-box platform. All invoices issued to the company can be seen at any time. The time limit for deduction certification has also been extended, which is undoubtedly of great help to all companies. For another example, the weaving factory received an invoice of 500,000 yuan from the raw material factory. Due to the negligence of the company personnel, it failed to certify it in time. As a result, the invoice cannot be deducted as input tax. For this reason, the company needs to pay 70,000 yuan to the tax bureau again. More taxes. If it is an invoice of 1 million, the tax will be as high as more than 140,000. It can be said that the extension of the VAT invoice certification period will allow companies to make reasonable tax arrangements and reduce their business risks.
This national tax and fee reform is undoubtedly a big benefit for textile companies. Although many people have complained that textile production is difficult and profits are thin, the country is also constantly working hard to create favorable space for textile companies. How should I say, there are good things When the policy comes out, textile companies will let go and embrace it. If the pressure is lighter, the motivation will be stronger. Textile people should continue to roll up their sleeves and work hard!
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