State Administration of Taxation: Tax reduction and exemption and tax refund for the development of science and technology innovation and manufacturing industry in the first five months exceeded 630 billion yuan.

The reporter learned from the State Administration of Taxation on the 4th that in the first five months of this year, the main policies supporting technological innovation and the development of the manufacturing industry, such as tax reduction and fee reduction, and tax refund, amounted to 636.1 billion yuan. Among them, the policy of reducing taxes by 15% for high-tech enterprises levying corporate income tax to support the cultivation and development of high-tech enterprises and emerging industries reduced taxes by 140.7 billion yuan; the policy of reducing taxes, lowering fees, and refunds for advanced manufacturing enterprises through value-added tax deductions and credits to support the high-quality development of the manufacturing industry reduced taxes by 415.8 billion yuan. Since the beginning of this year, the tax authorities have implemented the decision-making deployment of structural tax reduction and fee reduction policies, focusing on promoting policy dividends to reach the operating entities accurately and quickly. Under the powerful promotion of structural tax reduction and fee reduction policies, China's high-quality development of technological innovation and manufacturing industry is accelerating. Value-added tax invoice data shows that in the first five months of this year, the sales revenue of high-tech industries increased by 14.2% year-on-year, which is significantly faster than the overall national growth rate. The core industries of the digital economy increased by 10% year-on-year, and the amount of digital technology purchased by enterprises nationwide increased by 9.7% year-on-year, reflecting the orderly promotion of digital integration. In the manufacturing industry, value-added tax invoice data shows that in the first five months of this year, the sales revenue of manufacturing enterprises in China increased by 4.2% year-on-year. Among them, the sales revenue of equipment manufacturing, digital product manufacturing, and high-tech manufacturing increased by 9%, 12.1%, and 12.1% year-on-year, respectively. In particular, the sales revenue of advanced manufacturing industries such as computer manufacturing and smart device manufacturing increased by 21.6% and 19.4% year-on-year. This article is reprinted from Xinhuanet Co., Ltd., edited by Chen Wenfang.