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Reminder: pay attention to the filing of these enterprise income tax policies for final settlement and payment in 2020

2021-01-11

Since 2020, the Ministry of finance, the State Administration of Taxation and relevant departments have intensively issued a number of enterprise income tax policies to support the prevention and control of new crown pneumonia epidemic situation and the decision-making and deployment of the Party Central Committee and the State Council.In order to fully implement various policies, optimize the reporting scope, and reduce the tax burden of taxpayers, the State Administration of Taxation recently issued the notice of the State Administration of Taxation on Revising the annual enterprise income tax return (No. 24 of 2020), and issued the "annual tax return of the people's Republic of China (Class A)",Part of the forms and filling instructions are revised.

The revised annual enterprise income tax return mainly involves the following contents:

We will support the prevention and control of new crown pneumonia and the policies for enterprises to return to work and production

The Ministry of Finance and the State Administration of Taxation issued the announcement on supporting the prevention and control of pneumonia caused by new coronavirus infection (No. 8, 2020)

For the equipment newly purchased by the production enterprises of key guarantee materials for epidemic prevention and control to expand production capacity, it is allowed to be included in the current cost and deducted before the enterprise income tax;

The longest carrying forward period of losses in 2020 will be extended from 5 years to 8 years for enterprises in difficult industries which are greatly affected by the epidemic situation.

The Ministry of Finance and the State Administration of Taxation issued the announcement on supporting the prevention and control of pneumonia caused by new coronavirus (No. 9, 2020)

The cash and articles donated by enterprises through public welfare social organizations or the people's governments at or above the county level and their departments to deal with the pneumonia epidemic caused by the new coronavirus are allowed to be deducted in full when calculating the taxable income.

Enterprises directly donate articles for coping with pneumonia caused by new coronavirus infection to hospitals undertaking epidemic prevention and control tasks, which are allowed to be deducted in full when calculating the taxable income.

The Ministry of Finance and the State Administration of Taxation issued the announcement on tax support policies for film and other industries (No. 25, 2020)

The longest carry over period for the losses of film industry enterprises in 2020 will be extended from 5 years to 8 years.

Support Hainan free trade port construction policy

Notice on preferential policies for enterprise income tax of Hainan free trade port (CS [2020] No. 31)

First, the enterprise income tax will be levied at a reduced rate of 15% for the encouraged industrial enterprises registered in Hainan free trade port and operating substantially;

Second, the income from the new overseas direct investment of tourism, modern service and high-tech industries established in Hainan free trade port shall be exempted from enterprise income tax;

Third, for enterprises established in Hainan free trade port, newly purchased (including self built and self-developed) fixed assets or intangible assets with a unit value of no more than 5 million yuan (including) are allowed to be included in the current cost at one time and deducted in the calculation of taxable income, instead of calculating depreciation and amortization by year;If the unit value of newly purchased (including self built and self-developed) fixed assets or intangible assets exceeds 5 million yuan, the depreciation and amortization period may be shortened or the method of accelerated depreciation and amortization may be adopted.

Policies to promote high quality development of integrated circuit and software industry

The Ministry of finance, the State Administration of Taxation, the development and Reform Commission and the Ministry of industry and information technology jointly issued the announcement on promoting the high quality development of integrated circuit industry and software industry (No. 45, 2020)

First, the State encourages eligible IC enterprises and software enterprises to reduce enterprise income tax;

Second, the state encouraged integrated circuit manufacturing enterprises with line width less than 130 nm (including) are allowed to carry forward the losses that have not been made up in the first five tax years before the list year of the state encouraged integrated circuit production enterprises, and the maximum period of summary transfer shall not exceed 10 years.

Other policies

The Ministry of finance, the State Administration of Taxation and the General Administration of Customs jointly issued the announcement on tax policies for the Asian Games and Asian Paralympic Games in Hangzhou (No. 18, 2020)

The funds, materials and service expenses of enterprises, social organizations and groups sponsoring and donating to Hangzhou Asian Games shall be fully deducted when calculating the taxable income of enterprises.

The Ministry of Finance and the State Administration of Taxation issued the notice on the income tax policies of key industries in the New Lingang area of China (Shanghai) pilot free trade zone (CS [2020] No. 38)

(Shanghai) pilot Free Trade Zone Lingang New Area key industries to reduce the tax rate of 15%.

The Ministry of finance, the State Administration of Taxation, the Ministry of science and technology and the Intellectual Property Office jointly issued the notice on the pilot policy of enterprise income tax for technology transfer in specific areas of Zhongguancun National Independent Innovation Demonstration Zone (CS [2020] No. 61)

Resident enterprises registered in specific areas of Zhongguancun National Independent Innovation Demonstration Zone shall be exempted from enterprise income tax if they meet the requirements of technology transfer.

The Ministry of finance, the State Administration of Taxation, the development and Reform Commission and the China Securities Regulatory Commission jointly issued the notice on the pilot enterprise income tax policies for corporate venture capital enterprises in Zhongguancun National Independent Innovation Demonstration Zone (CS [2020] No. 63)

For qualified corporate venture capital enterprises, the enterprise income tax shall be reduced or reduced according to the proportion of individual shareholders holding shares at the end of the year.


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