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    Home > Chemicals Industry > China Chemical > Increase from 75% to 100% Instrument and meter enterprise R&D welcomes tax incentives again

    Increase from 75% to 100% Instrument and meter enterprise R&D welcomes tax incentives again

    • Last Update: 2021-10-04
    • Source: Internet
    • Author: User
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    [ Policies and Regulations on Chemical Machinery and Equipment Network ] On March 24, *Premier Li Keqiang hosted* an executive meeting to deploy and implement policies to increase the percentage of R&D expenses deductions for manufacturing enterprises, to encourage enterprise innovation and promote industrial upgrading.

     
    Chemical Machinery and Equipment Network Policies and Regulations Chemical Machinery and Equipment
    In order to implement this year’s government work report to support enterprise innovation measures, the meeting decided that starting from January 1 this year, the rate of deduction for manufacturing enterprises’ R&D expenses will be increased from 75% to 100%, which is equivalent to every 1 million yuan invested in R&D expenses by enterprises.
    , Can deduct 2 million yuan from the taxable income.

     

    In recent years, my country has continuously increased its tax incentives for enterprises, and the percentage of deductions for R&D expenses has also increased from 50% to 75%.
    Now manufacturing enterprises have further increased to 100%.
    This institutional arrangement is one of the most vigorous* policies in this year's structural tax cuts.
    It is expected that on the basis of tax cuts of more than 360 billion yuan last year, an additional 80 billion yuan in tax cuts for enterprises will be added this year.

     

    *Feng Qiaobin, the deputy minister of the Ministry of Macroeconomics, said that tax cuts and fee reductions insist on reducing the burden of manufacturing, which reflects *the real economy and the importance and persistence of manufacturing as the economic foundation of a major country.
    When the economy is facing downward pressure, *by increasing the percentage of deductions for R&D expenses, to encourage companies to use more funds for research and development, and to promote the transformation and upgrading of manufacturing through innovation.

     

    Manufacturing is the lifeblood of a country’s development, and the country’s future can only be better if the manufacturing industry develops well.
    At present, my country is comprehensively promoting "Made in China 2025", and the competitiveness of manufacturing enterprises is constantly increasing.
    But at the same time, my country's manufacturing enterprises are also facing problems such as high costs, thin profits, and heavy tax burdens, which to a certain extent restrict the development of my country's manufacturing industry and the formation of core competitiveness of enterprises.

     

      China's manufacturing industry is mainly divided into instrument and meter manufacturing, general equipment manufacturing, * equipment manufacturing, electrical machinery and equipment manufacturing, metal products, machinery and equipment repairing, chemical raw materials and chemical products manufacturing, pharmaceutical manufacturing, rubber And plastic products industry, metal products industry, etc.

     
    Instrumentation plastic products
      In recent years, thanks to the improvement in the operating conditions of instrumentation services in the machinery, metallurgy, and petrochemical industries, the development of my country's instrumentation manufacturing industry has been improving.
    According to national* data, in 2020, my country's instrument and meter manufacturing industry above designated size will achieve a total profit of 81.
    97 billion yuan, an increase of 11.
    6% over the same period last year.

     

      However, with the development of emerging technologies such as big data, cloud computing, Internet of Things, and artificial intelligence, as well as the increasing applications of instrumentation in major projects, complete sets of equipment, intelligent manufacturing, new energy, marine engineering, environmental governance and other fields, innovation Weak capabilities and lack of core technologies to compete with foreign countries have become obstacles to the further development of most instrument and meter manufacturing companies.

     

      In addition, there are still large uncertainties in the * epidemic and the world economy, and companies are facing many difficulties such as insufficient effective market demand and rising raw material and labor costs.
    This time, preferential policies such as increasing the percentage of additional deductions for manufacturing enterprises’ R&D expenses will effectively reduce taxes for enterprises, encourage instrument and meter manufacturing enterprises to increase R&D investment, enhance their innovation capabilities, and promote industrial upgrading.

     

      "This is not a phased policy, but an institutional arrangement.
    " Premier Li Keqiang said, "The purpose is to give market players a stable expectation and increase the motivation of enterprises to increase * R&D investment.
    " It is foreseeable, "The 14th Five-year "During the period and from the perspective of development, supporting the innovation of enterprises, especially manufacturing enterprises, will be the main focus of the policy.

     

      With the implementation of the policy, the investment in independent technological innovation of instrument and meter manufacturing enterprises will continue to be strengthened, which will promote the high-quality development of the instrument and meter manufacturing industry to take greater steps.

     

      Original title: From 75% to 100%, instrument and meter enterprise R&D welcomes tax incentives again
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