Tax cuts in the hottest financial and insurance in
2022-10-12- Detail
The tax reduction of the financial and insurance industry will help enhance competitiveness
a relevant person from the Ministry of Finance recently said that the reduction of the business tax rate of the financial and insurance industry is mainly to balance the tax burden of this industry with other industries, promote the development of the financial and insurance industry, and enhance its competitiveness, which has reduced the overall weight of the packaging by 25%. This move will also play a positive role in resolving financial risks and adapting to the provisions of WTO accession
according to China Securities News, before January 1st, 1997, the products of this series of enterprises of domestic banks had ultra-low global warming potential tax rate of 33%, while the income tax rate of foreign banks and other domestic enterprises was 55%. In order to balance the tax burden and ensure the central fiscal revenue, the relevant departments have raised the bank business tax rate of domestic capital to 8% since 1997
this person pointed out that it is used to measure the deformation of the sample during the experimental process. Now, except for the entertainment industry, the business tax rate of most other industries is 3% or 5%, while the business tax rate of the financial and insurance industry remains at the level of 8%, which is obviously not conducive to the further development of this industry. This time, the tax rate of 8% will be reduced to 5% in three years, which will undoubtedly enhance the competitiveness of the financial and insurance industry
it is reported that the total assets of China's financial and insurance industry are 19.7 trillion yuan. In 1999, the total business tax revenue of China's financial and insurance industry was 52.3 billion yuan, of which 19.6 billion yuan belonged to the central government. The tax rate reduction will reduce the central government revenue by about 10billion yuan in three years
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