Preferential policies for tax refund with excess credit

A new combined tax support policy will be implemented in 2022. In order to comprehensively consider providing cash flow support for enterprises, promoting consumer investment, and vigorously improving the VAT refund system, this year we will implement a large-scale tax refund for the VAT credit. Priority will be given to small and micro enterprises, and all existing retained tax credits for small and micro businesses will be refunded at once before the end of June, and the incremental retained tax credits will be refunded in full. For the annual taxable income of small and micro enterprises from 1 million yuan to 3 million yuan, based on the current preferential policies, the corporate income tax will be halved, and the actual tax burden will be reduced from 10 to 5. Continue to implement the tax reduction and fee reduction policy to support the manufacturing industry, small and micro enterprises and individual industrial and commercial households, and increase the reduction and exemption range and expand the scope of application. The scientific name of the retained tax credit refund is "tax refund discount for retained VAT credits", which means that the "input" VAT that cannot be deducted now but can be deducted in the future will be refunded in full in advance.

Legal basis: "Law of the People's Republic of China on Tax Collection and Administration"

Article 1 is to strengthen tax collection management, standardize tax collection and payment behavior, and ensure national tax revenue This law is formulated to protect the legitimate rights and interests of taxpayers and promote the economic and social development of Xianglvli.

Article 2 This Law shall apply to the collection and management of various taxes levied by tax authorities in accordance with the law.

Article 3 The introduction and suspension of tax collection, tax reduction, tax exemption, tax refund and tax repayment shall be implemented in accordance with the provisions of the law; where the law authorizes the State Council to stipulate it, it shall be implemented in accordance with the provisions of the administrative regulations formulated by the State Council.

No agency, unit or individual may violate the provisions of laws and administrative regulations by arbitrarily making tax levies, suspensions, tax reductions, tax exemptions, tax refunds, tax repayments and other matters related to tax laws and administrative regulations. Resisting decisions.

Article 4: Units and individuals with tax obligations stipulated in laws and administrative regulations are taxpayers.

Laws and administrative regulations stipulate that entities and individuals with the obligation to withhold and pay, collect and remit taxes are withholding agents. Taxpayers and withholding agents must pay taxes, withhold and remit taxes, and collect and remit taxes in accordance with the provisions of laws and administrative regulations.