202 1 new tax policy

According to the regulations, new energy vehicles purchased from 202 11October1to 20221February 3 1 are exempt from vehicle purchase tax. New energy vehicles exempt from vehicle purchase tax refer to pure electric vehicles, plug-in hybrid vehicles (including extended-range vehicles) and fuel cell vehicles.

From 202 111October1to 20301February 3 1 enterprise income tax will be levied on enterprises in encouraged industries in the western region at a reduced rate of 15%. Encouraged industrial enterprises refer to enterprises whose main business is the industrial projects specified in the Catalogue of Encouraged Industries in Western China, and whose main business income accounts for more than 60% of the total income of enterprises.

According to the announcement issued by the Ministry of Finance and State Taxation Administration of The People's Republic of China, from 200211to 20251February 3 1, the advertising expenses and business promotion expenses incurred by enterprises engaged in cosmetics manufacturing or sales, pharmaceutical manufacturing and beverage manufacturing (excluding alcohol manufacturing) shall not exceed the sales (business) income of that year. The excess shall be allowed to be carried forward and deducted in future tax years.

In addition, according to the announcement issued by State Taxation Administration of The People's Republic of China, since 200211,personal income tax will not be paid in advance in the month when the taxpayer's accumulated income does not exceed 60,000 yuan; Personal income tax shall be withheld and remitted in the month when the accumulated income exceeds 60,000 yuan and in the months of the following years.

Extended data:

The timetable for the introduction of the tax and fee policy in 2020 is surprising in the whole year.

1 day —— On February 5, 2020, the executive meeting of the State Council decided to launch a number of fiscal, taxation and financial policies to support supply security. Only one day later, on February 6th, State Taxation Administration of The People's Republic of China and the Ministry of Finance successively issued three fiscal and taxation documents supporting epidemic prevention and control, involving five taxes, which added tax power to the imminent epidemic prevention and control work.

Feb-Feb 18 the State Council executive meeting decided to reduce the social security premium of enterprises in stages. On February 20th, State Taxation Administration of The People's Republic of China, together with Ministry of Human Resources and Social Security and the Ministry of Finance, issued a notice on the phased reduction and exemption of enterprise social insurance premiums, which clarified the preferential rules.

3 days —— On February 25th, 2020, the executive meeting of the State Council decided to exempt small-scale taxpayers in Hubei Province from VAT by stages, and to reduce the tax in other regions. On February 28th, the corresponding fiscal and taxation documents were issued; On February 29th, State Taxation Administration of The People's Republic of China issued operational documents.

7 days —— March, 2020 10 the State Council executive meeting decided to take new measures to stabilize foreign trade and foreign investment, and all export products that have not been fully refunded except for "two high-tech and one capital" will be fully refunded in time. On March 17, State Taxation Administration of The People's Republic of China and the Ministry of Finance issued a document to raise the export tax rebate rate for over 1,000 products.

References:

Guizhou Provincial Taxation Bureau, State Taxation Administration of The People's Republic of China, People's Republic of China (PRC)-CCTV Focus: 202 1 A lot of preferential tax policies.