Economic Observer Reporter Du Tao "What we need to do now is to implement the existing fiscal and taxation policies. For example, 3.65 trillion yuan of special debt, 2.5 trillion yuan of tax cuts and fee reductions, especially 15,000 yuan The retained tax refund of 100 million yuan is a cash flow sent to market entities. "On April 13, Yang Zhiyong, deputy director of the Institute of Financial Strategy of the Academy of Social Sciences, pointed out in an exclusive interview with the Economic Observer.
htmlOn April 7, Premier Li Keqiang chaired a symposium with experts and entrepreneurs to analyze the economic situation and listen to opinions and suggestions on the next step of economic work. At the meeting, experts such as Yang Zhiyong, Guan Tao, and the heads of China Logistics Group, China Agricultural Production Materials Group, and Qingdao Innovation Qizhi Technology Company all spoke, and expressed their views on economic operations, enterprise production and operation, etc., and on the implementation of macro policies , ensure logistics transportation and agricultural supplies supply, and promote enterprise innovation and provide suggestions.Li Keqiang said that the current world situation is evolving in a complex manner, domestic epidemics have occurred frequently recently, and some unexpected factors have exceeded expectations, bringing greater uncertainty and challenges to the smooth operation of the economy. It is necessary to strengthen confidence and face difficulties at the same time. We must implement the new development concept, promote high-quality development, coordinate epidemic prevention and control and economic and social development, deepen reform and opening up, take the initiative, respond to difficulties, focus on stabilizing growth, and keep the economy operating within a reasonable range. employment and stable prices. Policies and measures must be launched early and strengthened at the right time. Those that have been introduced must be implemented as soon as possible, and those that are clearly planned to be launched should be implemented as early as possible. At the same time, new plans must be studied and prepared.
Yang Zhiyong believes that there are many uncertain factors now, such as the Russia-Ukraine conflict that exceeds expectations and the frequent outbreaks of epidemics. It is now necessary to implement existing policies and reserve policy tools.
“After years of large-scale tax cuts and fee reductions, it is not easy to have such a scale of tax cuts and refunds in 2022. It fully demonstrates that the government is working with market entities to tide over difficulties and jointly cope with various uncertainties and risks. This year's economic work needs to be stable and make progress. At the same time, the uncertainties this year may be greater than in 2021. Coordinating epidemic prevention and control and economic and social development requires more wisdom. How to further accurately optimize and better meet the needs of economic and social development requires further exploration. In addition to the existing economic and trade frictions, international uncertainties include the impact of the Russia-Ukraine situation on the world economy, especially on the international economy. The impact of commodity prices on the industrial chain and supply chain is necessary to fully consider the difficulties and increase policy intensity to hedge risks," Yang Zhiyong said.
Changes
From the State Council executive meeting to the symposium of experts and entrepreneurs on the economic situation, to the relevant deployments of various departments, a package of measures to reduce costs and burdens are being implemented in advance and stepped up at the right time.
html Starting from April, the 1.5 trillion yuan value-added tax refund will be officially launched. A symposium of economic situation experts and entrepreneurs held on April 7 pointed out that it is necessary to coordinate from top to bottom to speed up the progress of value-added tax excess tax refund, so that funds can fall into the accounts of market entities as soon as possible.Data from the State Administration of Taxation show that from April 1 to 11, tax authorities across the country handled a total of 155.7 billion yuan in excess tax refunds for 203,000 taxpayers.
The proactive fiscal policy in 2022 has changed a lot compared to previous years, with more emphasis on changes in stock, focusing on tax credits and refunds, instead of incremental tax cuts and fee reductions.
Yang Zhiyong told reporters that the country attaches great importance to the development of the real economy and manufacturing industry and wants to make economic development healthier. This is especially evident in the tax and fee reduction policies. The change in stock means that there is more demand for funds, and there are also time and progress requirements for tax refunds for small and micro enterprises. The implementation of these policies requires the fiscal and taxation departments to make more efforts. For enterprises and individuals, there are more More funds are available.
This year's Two Sessions "Government Work Report" proposed that small and micro enterprises should be given priority, and the existing retained tax credits of small and micro enterprises should be fully refunded at one time before the end of June, and the incremental retained tax credits should be refunded in full.
Yang Zhiyong believes, “For market entities, the retained tax refunds have enriched the cash flow of enterprises, allowing enterprises to survive and develop better in the face of increasing uncertainties, and promoting the growth of market entities. "At the same time, compared with 2021, while the fiscal deficit rate will be reduced in 2022, the intensity of fiscal stimulus will not be reduced, tax cuts and cost reductions will be increased, and the intensity of fiscal expenditure will be greater."
Yang Zhiyong believes that this is a very special situation. The secret of the arrangement lies in the coordination of the government's disposable financial resources. It is precisely with more financial resources that the scale of tax cuts and fee reductions in 2022 can reach 2.5 trillion yuan. Such a scale can be said to exceed general expectations. The fiscal deficit rate of the budget arrangement is 2.8%, which is conducive to sustainable fiscal operation, better prevents fiscal risks, and provides a healthier basis for the implementation of fiscal policies.
Reform
This round of fiscal and tax reform started in 2014 and has been going on for more than 8 years now.
Yang Zhiyong told reporters that the three most important contents of deepening the reform of the fiscal and taxation system are budget reform, tax system reform, and reform of the fiscal relationship between the central and local governments. Overall, the reform has made a lot of progress towards a modern fiscal system.
The announcement of the Third Plenary Session of the 18th CPC Central Committee in 2013 stated that finance is the foundation and important pillar of national governance, and a scientific fiscal and taxation system is an institutional guarantee for optimizing resource allocation, maintaining market unity, promoting social equity, and achieving long-term stability in the country. We must improve legislation, clarify powers, reform the tax system, stabilize tax burdens, make budgets transparent, improve efficiency, establish a modern fiscal system, and give full play to the initiative of both the central and local governments. It is necessary to improve the budget management system, improve the tax system, and establish a system that matches power and expenditure responsibilities.
Yang Zhiyong believes that the reform of fiscal powers and expenditure responsibilities is highly related to finance, which needs to be linked to the comprehensive deepening of the reform to achieve the matching of financial power, financial resources and administrative powers.
At the same time, Yang Zhiyong told reporters that the current real estate tax reform does not fully meet the practical conditions for advancement. The Ministry of Finance has made it clear that there are no real estate tax pilot conditions this year, which is a very good approach. This can save groundless speculation and benefit the market. Create stable expectations.
htmlIn March, a reporter from Xinhua News Agency interviewed the relevant person in charge of the Ministry of Finance regarding the pilot issue of real estate tax reform. The relevant person in charge stated that the real estate tax reform pilot was carried out in accordance with the authorization of the Standing Committee of the National People's Congress. Some cities have carried out surveys and preliminary studies. However, taking into account all aspects of the situation, there are no conditions for expanding the real estate tax reform pilot cities this year.In Yang Zhiyong’s view, reform and seizing the opportunity is an art. Reforms need to pay attention to the constant changes in reality. Sometimes problems can be solved through a package of reforms, and sometimes they need to be carried out step by step according to specific changes.
Yang Zhiyong said: "For example, in the context of the rapid development of the digital economy regarding the financial relationship between the central and local governments, we can make some reform choices based on the development of the times and technology. Of course, the ultimate goal of the reform is to achieve high social and economic development." Quality development. "
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