Heavy news from NPC and CPPCC: VAT threshold for small-scale taxpayers increased to 150000!
2021-03-08Has the VAT threshold changed again?
100000 to 150000
On the morning of March 5, 2021, Premier Li Keqiang, on behalf of the State Council, delivered a government work report to the fourth session of the 13th National People's Congress.
Premier Li Keqiang announced in his report that the implementation of phased large-scale tax reduction and fee reduction, combined with institutional arrangements, has reduced the burden of market entities by more than 2.6 trillion yuan, including 1.7 trillion yuan of social security fee relief.
Government work report: the main body of the market needs to be helped again to restore its vitality and enhance its vitality.We will continue to implement the institutional tax reduction policy, extend the implementation period of some phased policies such as the VAT preference for small-scale taxpayers, implement new structural tax reduction measures, and hedge the impact of some policy adjustments.Vat for small scale taxpayers The starting point was raised from 100000 yuan to 150000 yuan per month. For small and micro enterprises and individual businesses If the taxable income is less than 1 million yuan, the income tax shall be reduced by half on the basis of the current preferential policies.
How does the new policy affect your money bag
Change 1
We will continue to implement the institutional tax reduction policy, extend the implementation period of some phased policies such as the VAT preference for small-scale taxpayers, implement new structural tax reduction measures, and hedge the impact of some policy adjustments.Increase the threshold of VAT for small-scale taxpayers from 100000 yuan to 150000 yuan per month.For small and micro enterprises and individual businesses, the annual taxable income is less than 1 million yuan.
Change 2
We will continue to implement the 75% plus Deduction Policy for R & D expenses of enterprises, increase the proportion of additional deduction for manufacturing enterprises to 100% of the new policy, encourage enterprises to increase R & D investment with preferential tax mechanism, and strive to promote enterprises to lead development with innovation.
Change 3
For advanced manufacturing enterprises, full refund of incremental VAT allowance shall be made on a monthly basis.
Change 4
We will expand the scope of preferential corporate income tax on environmental protection, energy conservation and water conservation, promote the R & D and application of new energy-saving and environmental protection technologies, equipment and products, and cultivate and expand energy-saving and environmental protection industries.
The state aims at small and micro enterprises
Support policies for individual merchants
