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The government work report proposed to deepen the reform of value-added tax, reduce the current 16% tax rate in manufacturing and other industries to 13%, and reduce the current 10% tax rate in transportation, construction and other industries to 9%, ensuring that the tax burden of major industries is significantly reduced; The tax rate of 6% will remain unchanged, but by taking supporting measures such as increasing the production and living services and adding tax deductions at the same time, we will ensure that the tax burden of all industries will only be reduced and not increased, and continue to carry out the extension and expansion of the product production line due to the heat generated by friction, and continue to move towards the direction of pushing the three levels of tax rate and two levels, and simplifying the tax system

as a pillar industry of the national economy, the steel industry is one of the main sources of national input tax, which is greatly affected by the tax reduction

Researcher xuliying said that from the perspective of production links, the reduction of tax rates will help reduce the costs and burdens of steel production enterprises, and then reduce and improve the asset liability ratio of industrial enterprises. Taking the steel enterprises in 2018 as an example, the main business income of the steel industry was 6400.65 billion yuan, and the main business cost in the same period was 5685.54 billion yuan. If the raw material procurement cost accounted for about 70% of the main business cost, the value-added tax could be reduced from 16% to 13%, which would reduce the value-added tax by about 72.6 billion yuan, accounting for about 1% of the main business income of the industry. Secondly, tax reduction and fee reduction will help iron and steel enterprises increase investment, revitalize the innovation vitality of enterprises, deepen the tax reduction dividends released by the value-added tax reform, reduce the allocation of resources by the government, and give full play to the initiative of enterprises as much as possible

"from the perspective of circulation, the reduction of tax rate will reduce the costs of all links of the iron and steel industry chain." Xu Liying said that it is estimated that the impact of this round of tax reduction on the cost of raw materials such as coal, coke and ore is about dozens of yuan, and the impact on the cost of billet and rebar is about 100 yuan. The cost dividend of the upstream is gradually transferred downward, which may cause the average sales price of the end products to move down, but has little impact on the sales profit. In terms of transportation, the value-added tax of transportation industry decreased from 11% to 10% last year, and then to 9% this year, which is conducive to reducing the logistics cost of steel transportation. For steel mills or traders engaged in engineering distribution, it can reduce the cost of arrival and improve profits. In addition, by accurately controlling tiny ceramic fibers, the reduction of tax rate will increase the competitive advantage of domestic steel exports, which is conducive to exports

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