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2018 Tax reduction and fee reduction in manufacturing industry: Value-added tax rate dropped from 17% to 16%
- Apr 09, 2018 -

On March 28th, the State Council Executive Meeting decided to deepen the reform of VAT and decided to reduce the value-added tax rate for manufacturing and other industries from 17% to 16% from May 1st, and raise the annual taxpayer sales standard from 500,000 to 800,000. To 5 million yuan.

This became the first institutional dividend after the tax reduction and fee reduction policy in 2018. At the time node, the formal implementation time of the manufacturing VAT tax rate was adjusted in line with the time for the full promotion of the “Yichangzeng” last year. Both were selected on May 1st. The day begins.

A number of taxpayers analyzed and chose to implement it on May 1st. On the one hand, they set aside time for the taxation department to adjust the taxation procedures of the system. On the other hand, they also made statistics on the tax reduction effect of the "business-to-business reform." "On May 1st this year, the business reforms will be officially promoted for another year. As a complete tax year, the tax reduction effect will be more visible."