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It is understood that in China's current taxation policy, energy conservation policies are mixed with sustainable use of resources and environmental protection policies, and other means such as investment credits, accelerated depreciation, deferred taxation, etc. have not been used. The weakness of this policy is that the incentive for energy conservation is not strong. Therefore, the Chinese government is making adjustments to the fiscal and taxation policies one by one and will give the energy-saving and alternative energy industries a greater tilt.
In terms of income tax, the first is to increase the pre-tax deduction for the cost of energy-saving equipment and product research and development; the second is for the production of energy-saving products for special equipment, can be accelerated depreciation depreciation; the third is the purchase of energy-saving products production equipment , Investment credits can be implemented within a certain amount of the company's new income tax preferential policies.
In respect of value-added tax, the government will learn from the policies supporting the comprehensive utilization of resources, and the country will impose a certain amount of value-added within a certain period of time on key energy-saving equipment and products that are significantly constrained by factors such as price and energy efficiency. Tax incentives. For products with very obvious energy-saving effects, within a certain period of time, VAT rebates can be implemented. Refund of VAT can be all or a certain percentage.
In respect of export taxation, the government will consider adjusting the export tax rebate rate according to the national energy policy orientation, properly increase the tax rebate rate for encouraged export products, and appropriately reduce or even cancel the tax rebate rate for restricted export products.
In the long run, some new taxes should be set up for products that consume non-renewable energy, such as environmental pollution taxes, carbon taxes, and energy consumption taxes. From the current implementation of a single administrative punishment measure, energy-consuming large households will become economically viable ( Combination of taxation, regulation and administrative punishment combined policy measures.
It is also understood that the Ministry of Finance has recently issued the Interim Measures for the Management of Special Funds for Renewable Energy Development. According to the Measures, special funds for renewable energy development will focus on supporting the development of alternative fuel products such as bio-ethanol fuels and bio-diesel fuels in two ways: unpaid subsidies and loan interest subsidies.
Energy-saving industry enjoys comprehensive tax benefits
On November 28th, at the 2006 China Enterprise Energy Conservation and Energy Efficiency High-level Forum, officials from the Ministry of Finance revealed that after the merger of domestic and foreign-funded enterprise income taxes, enterprises in energy-saving, water-saving, agriculture, environmental protection, and high-tech industries are expected to enjoy all aspects Tax incentives. So far, there have been two kinds of oil substitutes, such as bio-ethanol fuel and bio-diesel, that have been granted unpaid and loan discounts.