7 More Industries In For Tax Benefits

林蔚

China is likely to extend its current value- added tax credit refUnd policies to seven more industries including wholesale and retail，agriculture，accommodation and catering，education，social work，entertainment and sports.

The move is expected to increase this years tax refunds by 142 billion yuan （$21.23 billion）to 1.64 trillion yuan.

Experts believe the move will bring wide-ranging benefits to market players，and revitalize the countrys production and supply chains comprehensively.

On May 31，the State Council，China's Cabinet，announced a package of 33 measures covering fiscal，monetary，investment and industrial policies to give fillip to economic growth.

On the fiscal front，the current policy of refunding outstanding and newly added VAT credits will be extended to businesses in the seven industries.

In addition，the process of VAT tax refund will be improved to ensure outstanding VAT credits for micro and small businesses can be refunded in one lump sum by the end of this month.

Most of the seven industries are in the services sector，which has been affected severely by the recent COVID-19 resurgence.

The VAT credit refund program，first announced in this year's Government Work Report in March，was initially

中國可能將目前的增值稅留抵退稅政策擴大到批發(fā)和零售、農(nóng)業(yè)、住宿和餐飲、教育、社會工作、娛樂和體育等7個行業(yè)。

預(yù)計新增留抵退稅1420億元，今年出臺的各項留抵退稅政策新增退稅總額達(dá)到約1.64萬億元。

專家認(rèn)為，此舉將使市場參與者普遍受益，并全面重振生產(chǎn)和供應(yīng)鏈。

5月31日，國務(wù)院發(fā)布關(guān)于印發(fā)《扎實穩(wěn)住經(jīng)濟一攬子政策措施》的通知，總共涉及財政、貨幣、投資和產(chǎn)業(yè)政策在內(nèi)的共33項措施。

在財政方面，7個行業(yè)企業(yè)納入按月全額退還增量留抵稅額、一次性全額退還存量留抵稅額政策范圍。

此外，還將完善增值稅退稅流程，抓緊辦理小微企業(yè)留抵退稅，6月30日前基本完成集中退還存量留抵稅額。

這7個行業(yè)大多數(shù)都屬于服務(wù)業(yè)，因疫情反彈受到重創(chuàng)。

今年3月，《政府工作報告》首次宣布了大規(guī)模增值稅留抵退稅計劃。這項政策起初是為了緩解

launched to ease liquidity crunches among micro and small businesses. It covers manufacturing and other key industries that are essential for production and growth.

Shi Yinghua，a professor at the Chinese Academy of Fiscal Sciences，said that the COVID- 19 resurgence since late March has piled severe liquidity pressure on most businesses in the services sector.

“As VAT is a major kind of tax payment across the production chain，liquidity freed from the newly announced refund program will be notable. This will boost the country s production chain recovery，”Shi said.

“While the earlier tax refund program leaned toward the manufacturing sector，this widened tax refund program is expected to generate greater certainty for the recovery of the entire economy.”

小微企業(yè)現(xiàn)金流緊張問題，覆蓋范圍包括對生產(chǎn)和經(jīng)濟增長至關(guān)重要的制造業(yè)和其他關(guān)鍵行業(yè)。

中國財政科學(xué)研究院教授石英華表示，自3月底以來，疫情出現(xiàn)反彈，給許多服務(wù)業(yè)企業(yè)帶來了極大的現(xiàn)金流壓力。

石英華表示“由于增值稅是整個生產(chǎn)鏈的主要納稅方式，新宣布的退稅計劃釋放出的現(xiàn)金流是很關(guān)鍵的，將推動我國生產(chǎn)鏈的復(fù)蘇”。

“雖然早期的增值稅留抵退稅政策傾向于制造業(yè)，但政策范圍擴大后預(yù)計將為整體經(jīng)濟復(fù)蘇帶來更大的確定性。”