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The State Administration of Taxation held a symposium with industry associations and enterprises related to promoting large-scale equipment updates and the replacement of old consumer goods.
Release time:
09 Apr,2024
On April 9, Hu Jinglin, Secretary of the Party Committee and Director of the State Administration of Taxation, presided over a symposium with relevant industry associations and enterprises to promote large-scale equipment updates and the replacement of old consumer goods, further implementing the important speech of General Secretary Xi Jinping at the Central Economic Work Conference and the Fourth Meeting of the Central Financial Committee.
On April 9, Hu Jinglin, Secretary of the Party Committee and Director of the State Administration of Taxation, presided over a symposium with industry associations and enterprises related to promoting large-scale equipment updates and the replacement of consumer goods. This meeting aimed to further implement the important speech of General Secretary Xi Jinping at the Central Economic Work Conference and the Fourth Meeting of the Central Financial and Economic Commission, in accordance with the relevant deployment requirements of the Party Central Committee and the State Council. The discussion focused on how the tax department can better support large-scale equipment updates and the replacement of consumer goods, engaging in dialogue with leaders from relevant industry associations and enterprises to gain a deeper understanding of the development of the resource recycling industry, carefully listen to various opinions and suggestions, and discuss how to further leverage the functions of the tax department to better promote large-scale equipment updates and the replacement of consumer goods.
At the symposium, leaders from the China Material Recycling Association, the China Resource Recycling Association, and six enterprises engaged in resource recycling successively proposed opinions and suggestions on further promoting tax policies, tax services, and management measures related to equipment updates and the replacement of consumer goods. After carefully listening to everyone's speeches, Hu Jinglin pointed out that promoting large-scale equipment updates and the replacement of consumer goods is a major decision made by the Party Central Committee with a focus on high-quality development, which is a significant benefit for enterprises, the public, the country, and long-term interests. The State Administration of Taxation and tax departments at all levels will further study and implement the series of important instructions from General Secretary Xi Jinping, earnestly implement the relevant deployment requirements of the Party Central Committee and the State Council, and focus on the responsibilities of the tax department to ensure smoother policy operation, more convenient tax services, and more standardized industry order, thereby contributing to the solid promotion of large-scale equipment updates and the replacement of consumer goods.
Hu Jinglin emphasized that the Party Central Committee and the State Council attach great importance to the development of the resource recycling industry. In recent years, a series of tax support policies have been implemented, effectively promoting the development and growth of related industry enterprises. This year, the policy support has been further strengthened, especially in terms of taxation, with clear requirements to promote the "reverse invoicing" measures for resource recycling enterprises selling scrapped products to individuals. The tax department is actively working on the implementation, improving relevant business systems, and upgrading information systems.By the end of April, resource recycling enterprises will achieve "reverse invoicing," and through the implementation of "reverse invoicing," further smooth the value-added tax deduction chain, providing resource recycling enterprises with standardized and legal pre-tax deduction certificates for corporate income tax, while allowing individuals continuously engaged in selling scrapped products to also enjoy the value-added tax exemption or reduction policies as stipulated by current tax laws.On this basis, the tax department will also rely on big data to accurately select taxpayers who meet the conditions for enjoying preferential policies, strengthen publicity and guidance services, and ensure that taxpayers understand the policies and can operate them. With the smooth operation of tax policies, continuous optimization of service measures, and nationwide uniform enforcement standards, a good tax environment will be created to accelerate the development of the entire industry chain of the resource recycling industry, helping to significantly improve the quality and level of the national economic cycle. At the same time, for illegal activities such as tax fraud using "reverse invoicing" and the "policy gap" caused by local illegal investment, the joint mechanism of eight departments, including taxation and public security, will further play its role in combating tax-related crimes, maintaining a high-pressure deterrent against any emerging issues. For illegal activities involving financial returns or subsidies to taxpayers engaged in resource recycling, relevant departments will actively cooperate to increase handling efforts and hold corresponding responsibilities, striving to maintain a fair market competition environment under the rule of law, promoting a virtuous cycle of "good money drives out bad money," and more resolutely advancing the construction of a unified national market, making greater contributions to accelerating the establishment of a new development pattern and promoting high-quality development.
Industry leaders attending the meeting expressed that the major decision made by the Party Central Committee to promote large-scale equipment updates and the replacement of consumer goods is a "timely rain" that will create vast market space. They must seize the opportunity for industry development and make good use of favorable policies to strive for faster, better, and superior development.
Leaders of the State Administration of Taxation, including Wang Daoshu, Rao Lixin, Cai Zili, and Luo Tianshu, attended the symposium and communicated with the leaders of industry associations and enterprises present. Relevant department heads of the State Administration of Taxation also participated in the symposium.
Source: State Administration of Taxation Office
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