Small, medium-sized and micro enterprises get tax deferment support again

Recently, the State Administration of Taxation and the Ministry of Finance announced that small, medium-sized and micro enterprises in the manufacturing industry continue to delay the payment of some taxes in the fourth quarter of 2021 and some taxes in the first and second quarters of 2022.

In 2021, according to the development and changes of the economic situation, China issued timely and targeted tax preferential policies and measures to accurately implement tax regulation. Based on the introduction of a series of tax reduction and fee reduction policies at the beginning of 2021, the tax deferment policy was implemented for small, medium-sized and micro enterprises in the manufacturing industry to boost the operation of the industrial economy in the fourth quarter.

Statistics show that in the fourth quarter of 2021, the tax deferment policy for small, medium-sized and micro enterprises in the manufacturing industry was implemented, and the scale of burden reduction reached 216.2 billion yuan. In terms of classification, medium-sized enterprises have deferred taxes of 125.3 billion yuan and small and micro enterprises have deferred taxes of 90.9 billion yuan. In terms of industries, the industries with large scale of deferred payment mainly include equipment manufacturing, building materials, metal products, textile and garment industries, with a total of 133 billion yuan, accounting for 61.5% of the total deferred tax.

On February 14, the executive meeting of the State Council made it clear to extend the tax relief policy for small, medium-sized and micro enterprises in the manufacturing industry. Subsequently, the document jointly issued by the national development and Reform Commission and other departments proposed to postpone the payment of some taxes and fees by small, medium and micro enterprises in the manufacturing industry implemented in the fourth quarter of 2021 for a further six months. The Ministry of Finance and the State Administration of Taxation jointly issued an announcement to further clarify relevant matters.

According to the announcement, the tax deferment policy involves enterprise income tax, individual income tax, domestic value-added tax, domestic consumption tax and additional urban maintenance and construction tax, education surcharge and local education surcharge. Medium sized manufacturing enterprises can delay the payment of 50% of all taxes and fees, and small and micro manufacturing enterprises can delay the payment of all taxes and fees for a period of six months.

In order to facilitate taxpayers to enjoy the policy, the tax department has optimized the e-tax Bureau and opened the tax postponement prompt function. Taxpayers can operate through the e-tax Bureau. Whether it meets the conditions for tax deferment shall be judged by the taxpayer according to the actual business situation, and the tax authority shall carry out post risk verification.

In 2022, China will implement greater combined tax cuts and fee reductions and optimize the implementation methods of policies, so as to achieve positive fiscal policies, improve efficiency, pay more attention to accuracy and sustainability, and ensure the smooth operation of the economy.

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