Ministry of Finance: Strictly control the export of “two highs and one capital” products
Minister of Finance Xie Xuren said that the key to implementing a proactive fiscal policy next year is to combine stable growth, structural adjustment, price control, benefiting people’s livelihood and promoting reforms by the general tone of “strive for progress”.
Xie Xuan said that the main contents of fiscal work next year include improving structural tax reduction policies, promoting the adjustment of the national income distribution pattern, further optimizing the fiscal expenditure structure, and increasing the number of projects related to agriculture, rural areas, farmers, education, health care, social security and employment, and affordable housing. , Energy conservation, environmental protection, culture, and support for underdeveloped regions.
Will comprehensively promote resource tax reform.
In 2020, accelerating the transformation of economic development mode remains the main line of various economic work. Xie Xuan pointed out that next year, we will vigorously promote energy conservation and emission reduction in key areas. We will continue to provide financial subsidies and taxation support measures for related energy-saving products, study the sustainable development mechanism of resource-based enterprises, and promote fiscal and taxation promotion measures for green trade.
In terms of promoting energy-saving and emission reduction, next, the year will continue to give appropriate subsidies to new energy vehicles, high-efficiency motors, sachet packing machine and other products, increase the proportion of energy-saving water-saving products and recycled products, actively promote green buildings, and support the recycling of waste electronics Electrical products. Increase support for the construction of urban sewage treatment facilities and expand key demonstrations in green key small cities and towns. The Ministry of Finance will also rationally adjust the consumption tax range and tax rate structure in 2020 to promote energy conservation and emission reduction and guide reasonable consumption.
In terms of optimizing the foreign trade structure and promoting the transformation of the economic structure, in 2019, we have implemented low imports of more than 700 products such as key equipment components and agricultural production materials for energy and resource-based products, the development of high-end equipment manufacturing and other strategic emerging industries. For the link tax, the financial department said that in the future, it will further strictly control the export of “two highs and one capital” products, and study relevant measures to encourage the expansion of the import of advanced technical equipment, key components and raw materials that are lacking in domestic energy resources.
Also, Xie Xuren said that next year it is necessary to study and establish a sustainable development mechanism for resource-based enterprises, continue to adjust and improve the comprehensive resource utilization value-added tax policy, study, and formulate an environmental protection tax levy plan, and comprehensively promote resource tax reform.
In this regard, relevant experts believe that there are still some problems to be solved in the current resource tax reform. For example, the ad valorem crude oil resource tax is levied based on the settlement price rather than the benchmark price, leaving the enterprise with income transfer between internal related parties. A larger space is proposed, and it is recommended to improve this in the future. Experts also suggested that to encourage oilfield companies to improve resource recovery and utilization efficiency, policy tilts need to be given, and tertiary oil recovery can be reduced in the future.
SME Development Fund will be established Xie Xuan said that due to the squeeze of various factors, the current difficulties facing the real economy are increasing, especially the operation difficulties of some small and micro enterprises, and vigorously supporting the development of SMEs will become one of the main tasks of fiscal work in 2020.
To this end, next year will continue to implement a policy of halving the corporate income tax for small and micro enterprises, exempt some small and micro enterprises from administrative fees, and support the construction of credit guarantee systems for small and medium enterprises, and guide more social funds to invest in early SMEs. Tax reduction and the exemption for financial institutions to provide financing services to SMEs and improve the financing environment.
For the National Small and Medium Enterprise Development Fund, which has been appealing for many years, the Ministry of Finance also said that it will be established according to law next year. Previously, the support funds for the development of small and medium-sized enterprises scattered in various ministries and levels will be effectively coordinated and planned, and the financial resources will be concentrated to do major things.
Xie Xuan also pointed out that it is more difficult for agriculture, especially grain production, to continue to maintain stable growth based on the previous “eight consecutive increases”. Next year, we will increase the policy of strengthening agriculture, benefiting farmers and enriching farmers, effectively enhance the comprehensive agricultural production capacity, increase the construction standards and subsidies for the construction of key counties of small farmers and water, and study and expand agricultural and forestry insurance premiums, appropriately increase the proportion of premium subsidies, and expand the variety of premium subsidies.
Besides, next year will continue to carry out a pilot deduction of input VAT for agricultural products. Experts said that this year’s pilot range of liquid milk and dairy product manufacturing and edible vegetable oil processing industry may be expanded in the future, and the VAT tax burden of related companies is expected to be reduced.