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Good news! LED manufacturing value-added tax rate will be reduced from 17% to 16%

  • Source:net
  • Release on :2018-03-31
Shenzhen Risen OPTO Co.,LtdLED Flood Light Manufacturers,led wall washer light suppliers,led smd 5730 flood light

March 28, Premier Li Keqiang chaired the State Council executive meeting to determine the deepening of VAT reform measures to further reduce the market main body tax.

It was pointed out that the cumulative tax reduction for the past five years through the implementation of the battalion was increased by 2.1 trillion yuan. In accordance with the deployment of the Central Committee and the State Council, in order to further improve the tax system, supporting the manufacturing industry, small micro-enterprises and other real economic development, continue to lighten the market, the meeting decided, starting from May 1, 2018.

First, the manufacturing industry and other industries value-added tax rates from 17% to 16%, the transport, construction, basic telecommunications services and other industries and agricultural products, such as value-added tax rates from 11% to 10%, is expected to reduce the annual tax reduction of 240 billion yuan.

Second, unified value-added tax small scale taxpayer standard. The annual sales standard for small taxpayers of industrial enterprises and commercial enterprises will be raised from 500,000 yuan and 800,000 yuan to 5 million yuan, and the enterprises registered as ordinary taxpayers should be allowed to register as small-scale taxpayers within a certain period of time, so as to allow more enterprises to enjoy the preferential tax on the lower levy rate.

Third, the equipment manufacturing and other advanced manufacturing, research and development and other modern service industry enterprises and grid enterprises in a certain period of time did not offset the amount of input tax to be refunded one-time.

The implementation of the above three measures, the whole year will reduce the market main body tax more than 400 billion yuan, the foreign-funded enterprises will equally benefit.

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