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January 9，Premier Li Keqiang presided over the State Council executive meeting，Decided to launch another batch of inclusive tax reduction measures for small and micro enterprises。In addition to expanding the existing income tax for small and micro enterprises、Outside the scope and intensity of VAT preferential treatment，For the first time, local governments are also authorized and encouraged to independently reduce the local tax burden of small-scale VAT taxpayers。Clearly the implementation period will start from January 1 this year，Tentatively three years，It is expected to reduce the burden of small and micro enterprises by about 200 billion yuan each year。

A professor from the National School of Administration told the China Business News reporter，This is the first round of this year’s trillion-level tax and fee reduction policy，Tax reduction targets small and micro enterprises、Individual industrial and commercial households、Technology-based enterprise，In the current context of increasing downward pressure on the economy, we hope to reduce the tax burden by reducing taxes on these companies，Stabilize employment。Relevant policies such as substantive tax reduction of VAT and reduction of social insurance premium rates, which will be the main force in future tax reduction and fee reduction，It is expected to be introduced during the National Two Sessions。

"This tax cut is very timely，The tax reduction for small and micro enterprises is relatively large。While reducing taxes，The meeting emphasized better performance 1.The role of 39 trillion yuan of local government special bonds in stabilizing investment and promoting consumption，Reflects the active fiscal policy’s efforts on both supply and demand sides，Perform the effect of stabilizing the economy and stabilizing growth。" Said the Director of the Fiscal and Taxation Law Research Center of China University of Political Science and Law。

Multiple tax cuts and new policies in parallel

The meeting pointed out，Implementing the spirit of the Central Economic Work Conference，Keep the economy running dafabet casino mobile appwithin a reasonable range this year，It is very important to strive to achieve a smooth start to the first quarter，Multi-pronged approach is necessary，Developing small and micro enterprises is related to the stable operation of the economy and stable employment。

The first measure is，Significantly relax the standards for small and low-profit enterprises that can enjoy corporate income tax preferential treatment，At the same time, increase income tax incentives，For small and low-profit enterprises, the annual taxable income shall not exceed 1 million yuan、Part from 1 million yuan to 3 million yuan，25% off respectively、50% included in taxable income，Reduce tax burden to 5% and 10%。After adjustment, the preferential policies will cover more than 95% of taxpayers，98% of them are private enterprises。

　　Director of the Fiscal and Taxation Law Research Center of China University of Political Science and LawAnalysis on China Business News，This new policy will expand the scope and intensity of small and micro enterprises that enjoy preferential corporate income tax policies，The actual tax burden is significantly reduced，Reflects inclusive tax reduction。

First on the scope，Previous preferential policies were only available to small and micro enterprises with an annual taxable income of less than 1 million，This time the amount has been expanded to 3 million，Corporate profits decline during economic downturn，So this preferential policy can be enjoyed by more companies，As stated in the above meeting, the adjusted preferential policies will cover more than 95% of taxpaying enterprises。Secondly，The discounts are significantly increased。In the past, small and micro enterprises with taxable income not exceeding 1 million yuan were included in taxable income with a reduced mortgage rate of 50%，This time it is clearly calculated as 25%，The actual tax burden of small and micro enterprises equivalent to this range has been reduced from 10% to 5%。The corporate income tax rate for the portion of income from 1 million yuan to 3 million yuan in previous years was 25%，This time it is clearly classified as a small and micro enterprise and is included in the taxable income at 50%，Therefore the actual tax burden is reduced to 10%。

The second measure is，Mainly including small and micro enterprises、Individual industrial and commercial households and other individual small-scale taxpayers，Raise the value-added tax threshold from monthly sales of 30,000 yuan to 100,000 yuan。

At present, my country adopts a collection rate for small-scale taxpayers，Generally 3%。Director of the Fiscal and Taxation Law Research Center of China University of Political Science and Lawmeans，The previous value-added tax Dafabet reviewsexemption threshold of 30,000 yuan was obviously low，This time the tax reduction is increased to 100,000 and the scope of tax reduction is wider。From the perspective of tax regulations, the threshold for VAT collection in the future and the standards for small-scale taxpayers should be close to each other，Make the value-added tax deduction chain more complete。

The third measure is，All provinces (districts) are allowed、Municipal) Government’s VAT for small-scale taxpayers，Resource tax reduction within 50% range、Urban maintenance and construction tax、Stamp duty、Urban land use tax、Farmland occupation tax and other local taxes and education surcharges、Local Education Additional。

　　Director of the Fiscal and Taxation Law Research Center of China University of Political Science and Lawthink，This is a highlight of this tax cut。In the past, tax cuts were basically determined by the central government，But this time the authorization place，Let local governments adopt tax reduction policies based on local actual conditions and local conditions。It is estimated that most provinces will fully reduce taxes by 50% in the future。

What supports this judgment is，The central government encourages local governments to actively reduce taxes。The above meeting name，To make up for the local financial gap caused by large-scale tax and fee reductions，The central government will increase general transfer payments to local governments。This means that local tax cuts are worried about causing financial gaps，It will be compensated by the strong financial support from the central government。

There is also a fourth measure，Expanding the scope of preferential policies for investing in start-up technology companies，Enable more tax incentives for venture capital companies and individual angel investors who invest in such companies。

　　Director of the Fiscal and Taxation Law Research Center of China University of Political Science and LawName，The scope of current preferential policies for investing in start-up technology companies，There will be restrictions on the age (2 years) and scope of start-up technology companies as well as the income tax deduction rate (70%) of venture capital companies and angel investors，These restrictions may be relaxed in the future。

Using local debt to stabilize infrastructure

In addition to the tax reduction policy in supply-side structural reform，This State Council executive meeting will accelerate government investment on the demand side，This is mainly to plan to speed up the issuance and make good use of local government special bonds，Support the construction of projects under construction and projects that make up for shortcomings and drive the expansion of consumption。

Recent，The Standing Committee of the National People's Dafabet reviewsCongress officially authorized the State Council to issue in advance the total new local government debt limit for 20191.39 trillion yuan，This means that local governments can issue bonds for infrastructure construction in early 2019，You can also "borrow new and repay old" to relieve debt repayment pressure，This will use government bond funds to stabilize investment、Expanding domestic demand、The important role of making up for weaknesses，Hedging the pressure of economic fluctuations。

Meeting request，For 1 that have been authorized by the National People’s Congress in advance.The issuance of 39 trillion yuan of local bonds must be launched as soon as possible。Hurry up and determine the full-year special debt allocation plan，Strive to basically complete the issuance before the end of September。

In addition，Funds raised from local government special bonds must be used first for projects under construction，Prevent "half-baked" projects，Support major planned projects and resolve arrears for government projects, etc.。Start a batch of transportation projects in places with construction conditions、Water Conservancy、Ecological and environmental protection and other major projects，Formulate physical workload as soon as possible。In places where the conditions are not yet met, preliminary work such as preparing materials must be carried out as soon as possible。

　　Director of the Fiscal and Taxation Law Research Center of China University of Political Science and LawName，The funds raised by local special bonds will first be used for projects under construction，In order to avoid greater losses caused by project shutdown。

The meeting also mentioned，Monetary and credit policies must be coordinated with the issuance of special bonds and supporting project financing，Guide financial institutions to strengthen financial services，Guarantee follow-up financing for major projects。At the same time, it is required to standardize the management of special debts，Implement repayment responsibilities，Strictly control the hidden debt of local governments。

  Source: Yicai.com