The first shot of tax reduction and fee reduction in manufacturing industry

At the beginning of the new year, tax reduction and fee reduction in the manufacturing industry "made the first shot". According to experts' estimates, the total scale of reducing the cost of electricity consumption in manufacturing industry and the telecom tariff of enterprises will exceed 100 billion yuan. On January 3, the executive meeting of the State Council decided on measures to promote stable growth of the manufacturing industry and a basic plan to stabilize economic development. The meeting pointed out that we should vigorously improve the business environment and continue to implement tax reduction and fee reduction measures focusing on the manufacturing industry. We will push forward the reduction of the cost of electricity used by manufacturing industries and the telecommunications charges of enterprises, and open all industrial enterprises above Designated Size to participate in electricity market-oriented transactions. Zhang Yiqun, vice chairman of China budget performance Committee, told the Securities Daily that continuing to implement the tax reduction and fee reduction policy focusing on manufacturing industry will further reduce the tax burden of enterprises and bring more benefits to manufacturing enterprises. On the other hand, the tax reduction and fee reduction also has the function of structural adjustment, which is conducive to guiding enterprises to increase investment in technology research and development and promote manufacturing The industry realizes transformation and development, and then drives the upgrading of the overall industrial structure.

Liu Xiangdong, Vice Minister of Economic Research Department of China International Economic Exchange Center, told Securities Daily that only further reducing the burden on manufacturing enterprises can further promote the investment and development of manufacturing industry and form a positive cycle. Tax reduction and fee reduction will be an important measure to reduce the cost of manufacturing industry and help manufacturing industry steadily improve quality and efficiency. In 2019, a series of tax reduction and fee reduction policies, such as deepening the reform of value-added tax, effectively stimulated the confidence and innovation of enterprises. Liu Kun, Minister of finance, said that in the first 10 months of 2019, tax reduction and fee reduction across the country reached 1968.894 billion yuan. Among them, from April to October, the vat of manufacturing and wholesale industries was reduced by 459.883 billion yuan, a 25.7% reduction. Ding Zhenyu, senior investment adviser of Jufeng investment consulting, told Securities Daily that at present, the VAT rate of China's manufacturing industry has been reduced to 13%, and there is still room for reduction. Manufacturing industry plays an important role in the national economy. Tax reduction and fee reduction for manufacturing industry can play an important role in the economic stabilization. The government work report in 2019 proposes to promote the reduction of enterprise related charges through reform. We will deepen the market-oriented reform of electric power, clear up additional charges for electricity prices, reduce the cost of electricity used by manufacturing industries, and reduce the average industrial and commercial electricity prices by another 10%.

Recently, according to the data released by the State Grid, in 2018, the State Grid overfulfilled the goal of reducing the general industrial and commercial electricity price by 10%, reducing the customer's electricity cost by 91.5 billion yuan; in 2019, the State Grid fully completed the task of reducing the average industrial and commercial electricity price by another 10%, reducing the user's cost burden by 64.1 billion yuan. In two years, the total amount of reduction reached 155.6 billion yuan. In 2019, the state also determined to reduce mobile network traffic and broadband charges of small and medium-sized enterprises by about 180 billion yuan in the whole year. "Further promoting manufacturing industry to reduce electricity consumption and telecommunication tariff is an important aspect for manufacturing enterprises to reduce operating costs," said Liu Xiangdong. If in the past, industrial and commercial enterprises reduced the scale of electricity consumption by 80-100 billion yuan, and the scale of electricity consumption occupied by manufacturing industry was about 60%, it is expected to reduce the scale of electricity consumption by about 50-60 billion yuan; if in 2019, the scale of telecommunication tariff reduction is about 18 RMB 0 billion, manufacturing enterprises account for one third of users, and the scale of reducing telecommunication tariff cost can reach RMB 60 billion. Zhang Yiqun said that at present, the tax reduction for the manufacturing industry has reached a certain scale, and the next step should focus on reducing fees, especially for industries with obvious monopoly such as electricity, telecommunications and transportation, so as to further stimulate the growth potential and vitality of the manufacturing industry. In addition, we should start with the establishment of market mechanism and free and fair competition, so as to form a stable mechanism for tax reduction and fee reduction.