Business in hebei province again welcomed the good news. On April 4, the ministry of finance and the state administration of taxation jointly issued a joint statement, raising the standard of VAT small-scale taxpayers and lowering the VAT rate.

        Starting from May 1, 2018, the VAT small-scale taxpayer standard shall be the annual VAT sales amount of RMB 5 million and below. At the same time, in accordance with the "interim regulations on value-added tax rules" article 28 regulation: the units and individuals have been registered as a general VAT taxpayer, on December 31, 2018, convertible registration for small-scale taxpayers, its not deduction of input tax shall be transferred out.
      "This time, we raised the annual VAT sales standard for industrial enterprises and commercial enterprises to 5 million yuan, unified the small-scale taxpayers‘ standards, and made the tax system more concise and equitable. More small micro enterprise can choose according to need to register as small-scale taxpayers, according to 3% tax levy rates of preferential, also can choose to register a average taxpayer, enjoy deduction of input tax bonus." Dong xijuan, director of the tax bureau for goods and services, said.

         It is understood that at present in the current system of value-added tax policy, small-scale taxpayers standard three: industrial enterprises to apply for the VAT sales RMB 500000 per year, commercial enterprises is 800000 yuan, service enterprises is 5 million yuan.

        In respect of the VAT rate, the new regulation is clear that VAT taxable sales or imported goods of taxpayers shall be subject to the tax rate of 17% and 11% respectively, and the tax rate shall be adjusted to 16% and 10% respectively. The deduction rate shall be adjusted to 10% if the taxpayer purchases the agricultural products, and the deduction rate shall be 11%. The taxpayer purchases the agricultural products used for the production or sale of the 16% tax rate of goods, and calculates the input tax according to the deduction rate of 12%; For export goods with a tax rate of 17% and export rebate rate of 17%, the export rebate rate shall be adjusted to 16%. Export goods and cross-border taxable activities with a tax rate of 11% and an export rebate rate of 11% shall be adjusted to 10%.

         At a state council executive meeting decided a few days ago, from May 1, 2018, the implementation of appropriate lower tax rate, uniform standard of small-scale VAT taxpayer, refund part of three deepening the reform of value-added tax measures such as tax credits, and to reduce the tax burden on market main body again. In the past five years, our province has reduced the total tax reduction by implementing the value-added tax to nearly 50 billion yuan, which has greatly enhanced the profitability and development of enterprises.

        "This is a major tax policy adjustment, we require all VAT adjustment work, more attention must be paid in accordance with the requirements of the ministry of finance and the state administration of taxation to do before the implementation of the implementation and monitoring in the process of analysis, explained, such as work, make sure VAT adjustment work smoothly and orderly progress." The provincial irs chief auditor sun shuen said.