After Chinese New Year the domestic epidemic situation has not yet been resumed. I am staring at the stock market with relish, and rejoicing, but now it is long gone.
On March 6, negotiations between Saudi Arabia and Russia on crude oil production cut to no avail. Saudi Arabia cut prices to sell oil, and international oil prices plunged. Affected by the collapse of oil prices and the spread of the epidemic, US stocks plunged across the board after opening on March 9, triggering the first circuit breakers of the year. On March 11, 23 states in the United States and Washington, D.C. declared a state of emergency. The United States announced a 30-day travel ban on Europe except the United Kingdom. At the same time, it provided an additional $ 200 billion in liquidity to the market. On March 12, US stocks opened to trigger the circuit breakers. And on the 12th and 13th local time, the US Federal Reserve put a total of 1.5 trillion US dollars of liquidity on the market; on March 15th, the US Federal Reserve announced an emergency rate cut. In addition, it also launched a quantitative easing plan with a scale of 700 billion US dollars, QE is back. It’s just that this spree is too extravagant. On March 16 local time, U.S. stocks opened to trigger the circuit breakers which was the third time for the year; On March 17, the US Federal Reserve announced the restart of the commercial paper financing mechanism, which was previously used during the 2008 financial crisis and the Great Depression. At the same time, it plans to launch a US $ 1 trillion economic stimulus plan, including sending US $ 500 billion in checks to the American people to ease the impact of the epidemic on the US economy. US stocks benefited from this and the violence rose. However, this heavy punch still failed to win market confidence. On March 18, US stocks once again made a roller coaster panic sell-off, triggering the fourth circuit breakers in 10 days.
At this time, Warren Buffett could not help but sigh, “It turns out that I am still too young!?BR>
It may not be an exaggeration to use "The Winter Is Coming" in "Game of Thrones" at this time. When winter is short, bear with dress less and endure it; if the winter is so long, like Hokkaido, there is hail in the cherry blossom season in Tokyo, you have to hoard food and carry it, but if the winter is far indefinitely, even if you can’t sleep like an animal in this season, you should at least keep it to a minimum to survive.
In 2020, the capital market, the consumer market, the domestic market, the international market, the winter is coming unexpectedly with the oil price, stock market and epidemic situation, and every object in it cannot be spared. You found that much more people than ever talked about live broadcast, epidemic situation, and resumption of production? The Tik Tok competition is also more intense than ever. In terms of promoting consumption, we want to do all we can to regain confidence and try our best to find various huge fan market.
And all of them are only for one purpose, "I want cash flow"!
At this time, "exploring the source of income and saving expenditure" may become the most objective current performance of small and medium-sized enterprises, and KAIZEN "Qiyuan" (Qi, Pioneering, Creating; Yuan, the Source ) will be as usual in this winter will be with you, and I would like to remind all small, medium and micro enterprises to make good use of preferential tax policies, plan and arrange income, and ensure that we will spend the winter in 2020 with the smallest volume to the greatest extent possible.
Here, we summarize the most relevant tax preferential policies for reference and feel free consult with us.
- VAT and income tax benefits
According to Caishui [2019] Circular 13 "Notice on the Implementation of Inclusive Tax Relief Policy for Small and Micro Enterprises", 1) Small-scale taxpayers with monthly VAT sales of RMB 100,000 and below are exempt from VAT; For small profit-making enterprises whose annual taxable income does not exceed 1 million yuan, the taxable income is reduced by 25%, and corporate income tax is paid at a rate of 20%; for annual taxable income exceeding 1 million yuan but not exceeding 3 million yuan, the 50% reduction is included in the taxable income, and the corporate income tax is paid at a 20% tax rate.
- Phased reduction and exemption of value-added tax for small-scale taxpayers
According to the Announcement No. 13 of 2020 of the Ministry of Finance and the State Administration of Taxation, ?STRONG>Announcement on Supporting the Value-Added Tax Policy for the Reinstatement of Individual Industrial and Commercial Households?, from March 1 to May 31, 2020, small-scale VAT taxpayers in Hubei Province The taxable sales income with a 3% collection rate is exempted from VAT; the prepaid VAT items with a 3% collection rate are suspended from the prepayment of VAT.
From March 1 to May 31, 2020, except for Hubei Province, other small-scale VAT taxpayers in other provinces, autonomous regions, and municipalities directly under the Central Government shall be subject to a 3% taxable sales income, reduced by 1% For value-added tax, sales are calculated according to the following formula: sales = sales with tax / (1 + 1%); the 3% pre-rate VAT prepaid item applies, minus the 1% pre-rate VAT prepaid.
- Goods donated free of charge in response to the epidemic are exempt from value-added tax, consumption tax, city maintenance and construction tax, education surcharge and local education surcharge
According to the Announcement No. 9 of 2020 issued by the Ministry of Finance and the State Administration of Taxation, from January 1, 2020, units and individual industrial and commercial households will self-produce, entrust processing or purchase of goods through public welfare social organizations and people’s governments at or above the county level And other state organs, such as their departments, or directly to hospitals that are responsible for epidemic prevention and treatment, donate free of charge to respond to the pneumonia epidemic of new coronavirus infection, exempt from value-added tax, consumption tax, urban maintenance and construction tax, education surcharge, local education surcharge .
- Expand the scope of donation of duty-free imported materials
According to the Announcement No. 6 of 2020 issued by the Ministry of Finance, from January 1, 2020 to March 31, 2020, the scope of duty-free imports specified in the "Interim Measures for the Exemption of Import Taxes on Charitable Donated Materials" shall be appropriately expanded, and Import and export materials for prevention and control are exempted from import duties, import value-added tax and consumption tax.
- Concessions for other taxes
According to Caishui [2019] Circular 13 "Notice on the Implementation of Inclusive Tax Relief Policy for Small and Micro Enterprises", and according to the actual situation of the region, the people’s governments of provinces, autonomous regions and municipalities directly under the Central Government The resource tax, urban maintenance and construction tax, real estate tax, urban land use tax, stamp tax (excluding securities transaction stamp tax), farmland occupation tax and education surcharge and local education surcharge are reduced within the tax range.
- Appropriate use of previous years to make up for losses
6.1 The epidemic period can be compensated by a specific industry from 5 years to 8 years
According to Article 4 of the Announcement No. 8 of 2020 of the Ministry of Finance, Announcement on Tax Policies Supporting Pneumonia Epidemic Prevention and Control in Support of New Coronaviruses? “The losses incurred by enterprises in difficult industries that are greatly affected by the epidemic in 2020 are the carry-over period is extended from 5 years to 8 years. " Enterprises in difficult industries, including transportation, catering, accommodation, and tourism (referring to two types of travel agencies and related services, management of scenic spots), and enterprises in difficult industries must account for total revenue in 2020 (excluding non-taxable income and investment income) more than 50%.
6.2 Under normal circumstances, the previous year can make up for the loss
According to Article 18 of the "Enterprise Income Tax Law of the People’s Republic of China" (as amended in 2018), "Losses incurred in an enterprise’s tax year are allowed to be carried forward to the following year and made up with the income tax of the subsequent year, but the maximum carry-over period shall not exceed five year"
The significance of the recoverable losses in the previous year is that it can offset the pre-tax profits of the current year, so the enterprise can appropriately consider whether to use the recoverable losses of the previous year in the sales arrangement.
|
