Li Keqiang, the global tax cut, warned against rushing

In the wake of the global wave of tax cuts, in response to competition, China has introduced 580 billion yuan in tax reduction and fee reduction measures this year.
On the 19th, the State Council executive meeting chaired by Premier Li Keqiang announced six tax reduction measures including the deductible VAT rate. This is based on the measures to reduce the cost of 200 billion yuan in the first quarter, and then launch more than 380 billion yuan of tax cuts.
"Today's event is settled, the plan must be stepped up, tax cuts must be put in place, and companies must have a real sense of gain!" It is worth noting that Li Keqiang warned the relevant departments at the meeting, "Many countries are brewing We introduced tax reduction measures. In the new round of global competition, we must have a sense of 'running' and use practical measures to improve the competitiveness of enterprises!"
Feng Qiaobin, a professor at the National School of Administration, told the First Financial Reporter that the current global tax cuts have been “on the line”, and the Prime Minister’s emphasis on tax cuts must have a “leading” awareness, reflecting that China’s deep integration into the global economy must be prepared. Prepare for a better environment for the company.

Britain, the United States and other countries are brewing tax cuts
At present, the global economy is in a post-crisis era, and many countries are facing downward pressure from the economy. Feng Qiaobin told the First Financial Reporter that the previous monetary policy, such as the limited space for lowering interest rates, tax cuts have become the choice of the United States, Britain and other countries, the global tax cuts are coming.
Feng Qiaobin believes that the implementation of the tax cuts in the United States requires the formation of a bill, which will take some time, but a set of tax schemes is clearly designed. After the start of tax cuts in the UK, EU countries are more likely to follow up.
International tax competition will drive liquid production factors such as capital and technology from high-tax countries to low-tax countries.
However, the International Monetary Fund (IMF) expressed concern about Trump's tax reform plan in its latest semi-annual global financial stability report. The report said that the tax reform proposed by the US Republican Party will increase corporate cash flow, but US companies with high leverage may not use these cash flows for productive capital investment. The IMF said the cash could be used for risky behaviors such as buying financial assets, mergers and acquisitions and dividends.
The report pointed out that the large-scale tax reform in the United States has often brought about a rise in financial risk-taking behavior, including the tax reform in 1986 and the “promotion period” of corporate tax repatriation in 2004. Both actions led to an increase in leverage, and the economy then fell into recession in 1990 and 2008, respectively.

China responds with “running”
At present, international competition is fierce, and many countries are competing to issue tax cuts. Li Keqiang pointed out at the above-mentioned executive meeting, "We must have a sense of 'running'!"
Li Keqiang said that the income of China's residents has increased year by year, and the costs of labor force are rising. Therefore, more emphasis should be placed on enhancing competitiveness through tax reduction and fee reduction. “Our tax cuts are not only to ease the burden for companies, but more importantly to give the market a good expectation.”
Feng Qiaobin believes that China should have its own starting point and basis when dealing with the global tax reduction wave. China's tax reduction choice is mainly to implement the clean-up of the extra-tax charging system. Administrative zero-charge is an effort, and Guangdong and other places are already doing it. China already has basic conditions. Although there are not many government fund projects, the amount is large, and it needs to be further cleaned up by combining price mechanism reform. In addition, there is room for a reduction in social security rates.
Mei Yucheng, PwC China's head of tax policy services, also told the First Financial Reporter that it should carefully examine the impact of the US tax cuts on China, but don't deal blindly. It is not how much tax the US has reduced. tax. China must follow its own policy objectives, including the already introduced tax incentives to encourage corporate innovation.
After the introduction of the tax reduction and fee reduction measures such as the introduction of business tax reform and value-added tax in China, the cost reduction for various market entities reached 1 trillion yuan. This year, we continued to introduce tax reduction and fee reduction measures, aiming to build a simple and fair tax system. Increase taxation support for small and micro enterprises, technology companies, employment, and pensions.
The State Council expects that the tax reduction and fee reduction measures introduced this year will reduce the burden on various market entities by about 580 billion yuan. Li Keqiang said in a question to reporters at the National People's Congress this year that the amount of tax reduction and fee reduction this year will strive to reach 1 trillion yuan.
For the Prime Minister to emphasize the need to speed up the implementation of tax incentives at the above-mentioned executive meeting, Feng Qiaobin said that this reflects the central government's intention to reduce taxes. However, the situation varies from place to place, and there are even a few strange cases in which the central government is reducing taxes and increasing local income. To solve this problem is not only the implementation of the policy, but also closely related to the reform of the division of central and local financial powers and expenditures, and the construction of local income systems.

LED Emergency Ceiling Light

Naips LED Emergency Ceiling Light-A power failure light with a modern design that provides high quality lighting with an adjustable cct color switch attached to each fixture. Every round light fixture is pre-installed with the built-in lithium ion emergency batterry pack, damp location rated for reliability, ETL listed for your safety, is 85-265V AC input, has a brushed chrome finish, and backed by a 5 YEAR WARRANTY.

Led Emergency Ceiling Light,Emergency Led Ceiling Light,Emergency Light For Ceiling,Emergency Light Ceiling Type

Foshan Nai An Lighting Electric Co.,ltd , https://www.naipsled.com