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The latest “tax reduction and fee reduction” policy in 2020, including these industries

TIME:2020-09-30 SOURCE:admin VIEWS:275 times

What is “tax reduction and fee reduction”?

“Tax reduction and fee reduction” specifically includes two aspects, one is “tax reduction and exemption”, and the other is “abolition or suspension of administrative and institutional fees.”

Tax reduction or exemption mainly refers to the adoption of special provisions for tax reduction or exemption for certain taxpayers and tax objects. According to the country’s political, economic, and social policy requirements for a certain period of time, certain special circumstances in production and business activities will be reduced or exempted from tax burdens. Corresponding tax collection is reduced in accordance with the law as tax reduction; corresponding tax collection is completely exempted from tax obligations as tax exemption.

Administrative fees refer to the process of state agencies, public institutions, social organizations and other organizations acting on behalf of the government in the process of providing specific services to citizens and legal persons in accordance with laws, administrative regulations, local regulations and other relevant provisions, approved in accordance with the procedures prescribed by the State Council. , The fees charged to specific service objects based on cost compensation and non-profit principles.

The tax reduction and fee reduction policies issued by the state are first to reduce the tax burden of some enterprises, and the other is to support the better development of such enterprises. This year, due to the epidemic, the overall economy has declined, and people’s lives have also been affected to a certain extent. After the epidemic, how can companies survive? The support of tax relief is undoubtedly the biggest encouragement and support for companies. Of course, things like the epidemic are unwilling to happen. Now some companies have resumed work and production, and people’s lives are gradually on the right track. However, some companies are still waiting for the resumption of work and production.

Due to the impact of the epidemic, the country has introduced a new round of tax and fee reduction policies, mainly including these industries:

Public transportation

Catering and Accommodation

Tourism and entertainment

Culture and Sports

For these industries, value-added tax is exempted, for small, medium and micro enterprises, pension, unemployment and work-related injury insurance unit contributions are exempted, and small-scale taxpayers’ value-added tax is reduced from 3% to 1%, and 2 points of value-added tax are reduced. It is undoubtedly a good thing for small taxpayers. In addition, the civil aviation development fund and port construction fees are reduced or exempted, and the implementation period has been extended to the end of this year. Income tax payment for small and micro enterprises and individual industrial and commercial households will be postponed until next year. The newly added tax cuts and fees are about 500 billion yuan.

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