Continued tax benefits for small-scale taxpayers, adding new momentum to the private economy

2023-08-11

Recently, the Ministry of Finance and the State Administration of Taxation jointly issued a series of announcements, extending the value-added tax reduction and exemption policy for small-scale taxpayers until the end of 2027. In Guangzhou, small-scale taxpayers account for nearly 80% of the normal operating entities in the market. Increasing efforts to reduce the burden on small-scale operating entities and stimulate the vitality of micro entities is an important guarantee for fully boosting the confidence of private enterprise development. Continuing tax benefits to help stabilize the operation of Shuncheng Business Department in Haizhu District, Guangzhou has been in operation for nearly 25 years. As a small-scale taxpayer enterprise mainly engaged in wholesale and retail of hardware products, its main taxes are value-added tax and corporate income tax. After the continuation of the policy was introduced, Chen Jieyi, the head of Shuncheng Finance, happily displayed the information she had just received in the tax enterprise communication group: "This means that our small-scale enterprises can continue to enjoy preferential policies for the next four years." She added that in the past few years, the company has reduced taxes by nearly 20000 yuan per year on average. This expenditure throttling has ensured the funds for purchasing raw materials and provided support for their long-term stable operation. Data shows that since the beginning of this year, the number of small-scale taxpayers in Haizhu District, Guangzhou has remained stable and growing, with new tax related market entities increasing by over 6% over the same period. Private enterprises have been developing actively, demonstrating strong development resilience. Smart taxation stimulates upgrading vitality. The Miduo Art Training Center in Haizhu District mainly engages in non disciplinary training in music, dance, piano, language art, art, and other related fields. We have always been committed to curriculum research and development and teacher training. Thanks to the strong support of the Haizhu tax department in recent years, our policies have been continuously optimized in the first half of this year. We have enjoyed a tax reduction of over 60000 yuan, and these saved 'real gold and silver' have made us more confident in providing high-quality teachers and high-quality courses! "Said Miss Huang, a tax official at Mido Art, with a smile on her face. It is understood that since the beginning of this year, the Haizhu District Taxation Bureau has made precise efforts and advanced efforts, forming a special working group, using big data to timely sort out the enterprises within its jurisdiction that are applicable to the latest preferential policies, building convenient service channels based on online platforms, and providing one-on-one, point-to-point special guidance by tax business backbone, explaining policy regulations in detail, to ensure that taxpayers understand the policies, can declare, and smoothly enjoy policy dividends. In recent years, the tax and fee reduction policies have helped us overcome various difficulties and given us the confidence to undertake more projects, "said Miss Liao from Guangzhou Lianansheng Electronic Technology Co., Ltd. As a small-scale taxpayer engaged in research on electronic communication automatic control technology and security system monitoring services, Lianan Sheng has enjoyed a small-scale exemption of over 90000 yuan. They have used the saved money to improve process equipment and also hired more workers to provide human support for the project. Li Yixian, Deputy Chief of the Goods and Labor Tax Department of Haizhu District Taxation Bureau in Guangzhou, said, "Next, we will continue to focus on the tax related needs of small-scale taxpayers and customize enterprise demand 'orders'. With the deepening implementation of preferential policies, the business environment will be further optimized, and we will effectively help small-scale taxpayers to have a smooth and strong foundation

Edit:XiaoWanNing    Responsible editor:YingLing

Source:China Daily

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