Suggestions on Tax Refund Policy

Since 20 19, China has gradually established an incremental VAT refund system. This year, we will improve the VAT deduction and tax refund system, optimize the collection and tax refund process, implement large-scale tax refund for tax credits, and return the input tax that taxpayers can continue to deduct in the future in advance. By returning the tax that has not been deducted in advance, it will directly provide about10.5 trillion yuan of cash flow to market players, increase the cash flow of enterprises, and ease the pressure of withdrawing funds, which will not only enhance the confidence of enterprises and stimulate the vitality of market players, but also promote consumer investment, support the high-quality development of the real economy, and promote industrial transformation and upgrading and structural optimization.

Second, the detailed analysis:

According to the data released by State Taxation Administration of The People's Republic of China, China on May/KOOC-0/0, 2022, since the implementation of the large tax refund policy on April/KOOC-0/0, 2022, from April/KOOC-0/0 to April 30, 80/KOOC-0/500 million yuan of VAT refund has been returned to/KOOC-0/452,000 households. In addition, the old tax refund policy was continued in the first quarter, with a tax refund of 654.38+023.3 billion yuan. From June to April, 2022, 924.8 billion yuan of tax refund was returned to the taxpayer's account.

Third, the significance of tax rebate.

VAT refund is an important measure to implement large-scale tax reduction and fee reduction policy. The implementation of the tax rebate policy will help ease the financial pressure of enterprises in Shandong Province, support enterprises to expand investment, promote the upgrading of technology and equipment, effectively stimulate market vitality and promote high-quality economic development.