According to the agenda, the twenty-sixth meeting of the Standing Committee of the 12th National People's Congress, which will be held today, will consider the State Council's proposal to submit a draft amendment to the Corporate Income Tax Law. This is the first amendment since the official implementation of the Corporate Income Tax Law in 2008.
However, according to the reporter, this amendment may not involve the adjustment of corporate income tax rate, and the content of the amendment may be related to the income tax of corporate public welfare donations.
Focus: Whether the corporate income tax rate is falling
According to reports, the current corporate income tax law was approved by the National People's Congress in March 2007 and will be implemented on January 1, 2008. Corporate income taxpayers are companies that earn income in China, with a tax rate of 25%. At the same time, small and micro enterprises and high-tech enterprises enjoy preferential tax rates.
At present, corporate income tax has become the second largest tax in China after VAT income. According to public data of the Ministry of Finance, the corporate income tax in 2016 was 288.5 billion yuan, a year-on-year increase of 6.3%.
In the second half of last year, public opinion debates on corporate tax burdens have been heated up.
Some people think that many enterprises, especially small and medium-sized enterprises, are under tremendous pressure during the economic downturn. At the same time, the international economic situation is complex and changeable, especially the proposed tax cuts in the United States, which are more likely to drive the arrival of a global tax cut. Under such circumstances, the corporate tax policy should be adjusted, and the corporate income tax rate can be considered.
Therefore, the public opinion is full of imagination for the revision of the corporate income tax law.
In fact, the rumors that the amendments to the Corporate Income Tax Law will reduce the tax rate are not officially confirmed by the authorities. The reporter also learned that the corporate income tax law was amended for the first time or did not involve tax rate adjustment.
Some experts also told reporters that in the context of the decline in domestic fiscal revenue, expansion of expenditures, and debt consolidation, in the face of the global allocation of international capital, the impact of multiple economic markets, it is not realistic to simply consider reducing corporate income tax rates.
"The drop in tax rate has caused all companies to increase their net profit, which is equivalent to Pratt & Whitney. It is better to adjust other tax regulations than to adjust the tax rate in a unified manner." A local taxpayer told the Shanghai Securities Journal that, for example, the expansion of research and development expenses plus deductions, Encourage enterprises to accelerate the pace of innovation, thereby creating more profit margins; or increase the small-scale meager profit concession certification standard from less than 300,000 to less than 500,000, and expand the scope of concession enterprises.
Amendment: Corporate Public Welfare Donation Income Tax and Charity Law
What is the revised corporate income tax law?
According to the reporter's understanding, this time it is possible to amend the relevant content of corporate public welfare donation income tax, because there are differences between the corporate income tax law and some provisions of the charity law.
Article 9 of the current enterprise income tax law stipulates that the portion of public welfare donations incurred by an enterprise within 12% of the total annual profit is allowed to be deducted when calculating the taxable income. The charity law stipulates that the portion of the corporate charitable donation that exceeds the legally prescribed limit for deduction of the taxable income of the enterprise income tax shall be deducted from the calculation of the taxable income within three years after the carry-over.
Insiders told reporters that the portion of the tax exemption that exceeds the legal requirements for the calculation of corporate income taxable income includes not only the part of the public welfare donation that exceeds 12% of the total annual profit, but also the non-profit social group or county. Donations directly from the people's governments and their departments at or above the level. For tax law can not pre-tax deduction of expenses, deductions allowed to be carried forward after three years, belongs to the donor in terms of tax incentives, while China's Legislation Law stipulates the specific problems of tax revenue can only be prescribed by a special law. Therefore, the provision clearly exceeds the provisions of the tax law and there is considerable controversy.
It is understood that, in order to link up with charity law, the amendments or additions to the Corporate Income Tax Law: charitable donation occurred more than 12%, can be carried forward to subsequent years, which can be deferred deduction.
"This is to promote corporate social responsibility, it is important to encourage the public welfare measures at the national participatory." In accounting and auditing expert, Center for China and Globalization invited senior researcher Lian from the opinion, year after year to donate over 12%, how to carry forward deductions? As the next annual loss this you do not need to pay taxes, last year carried forward net of what is the point? These issues need to be further refined.
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