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The introduction of this tax policy is undoubtedly the carbon in the snow for the paper industry, which is currently experiencing a decline in profits and rising pollution costs. It is reported that this new tax concession will be implemented from July 1.
Tax incentives re-launched as early as 2001, the waste materials recycling unit began to enjoy the policy of exemption from value-added tax. The production enterprises that use waste materials as raw materials calculate the deductible input tax amount by 10% of the purchase amount indicated on the ordinary invoice.
The policy change occurred at the end of 2008. On December 9 of this year, the Ministry of Finance and the State Administration of Taxation jointly issued the Notice on the Value-Added Tax Policy for Renewable Resources, and the VAT exemption policy was abolished from January 1, 2009. Enterprises engaged in the operation of renewable resources must pay the full value-added tax at 17%, and only provide the eligible general taxpayers with a two-year preferential policy of “reimbursement and returnâ€. In 2009, they will return 70% after the first levy. 50%. The tax refund will be cancelled on January 1, 2011.
At the Fourth Session of the Third Session of the Third National Chamber of Commerce and Industry of the All-China Federation of Industry and Commerce Papers held in September 2014, Zhang Yin, the vice president of the Chamber of Commerce and chairman of Nine Dragons Paper, strongly called for the restoration of the VAT refund policy for renewable resources. She also said: "All things are afraid of concentration, and concentrate on doing it one day will succeed."
Li Jianhua, Chairman of the Board of Directors of Huatai Group and Chairman of the Chamber of Commerce, repeatedly mentioned this content. He said that China is a big papermaking country and Shandong Province is a major papermaking province. However, there are basically no forestry resources in the province, no source of raw materials, and there is a shortage of forest resources in China. If you do not refund the tax, and encourage enterprises to use the packaging paper and cultural paper produced by secondary fiber, the survival of the enterprise will be very difficult.
Nowadays, this policy has been around for a long time. Although it has come late, it is a rare good news.
Waste paper industry tax revenue is expected to fall by 7.3%, which is good for the paper industry. At present, the overall tax burden of China's waste paper recycling industry chain is as high as 18.7%. These tax burdens have been transferred to downstream papermaking enterprises, thus raising the purchase price of downstream paper mills. The tax rate of the recycling industry has dropped from the current 18.7% in 2010 to 11.4%.
How much benefit can this tax incentive bring to the paper industry?
Take Changdong Waste Paper Acquisition Co., Ltd., a subsidiary of Century Sunshine, as an example. In 2010, it purchased 640,000 tons of waste paper, including 430,000 tons of domestic waste paper. The sales income was 720 million yuan, the profit was 15 million yuan, and the tax rebate income was 38.1 million yuan. In other words, the company's total profit comes from tax rebate income, tax rebate income accounted for 5.28% of total sales revenue, while net profit was 2.1%, after canceling the tax rebate policy, it lost 3.18%.
Estimated by Century Sunshine, in 2011-2013 after the tax incentives were abolished, the profit was reduced by 177 million yuan when the tax was returned 50% in 2010, which was 248 million yuan less than the return of 70% in 2009.
A person who has been responsible for the domestic waste paper procurement business of Huatai Group told the reporter that after the tax concessions were abolished, only Hebei Huatai was taken as an example. According to the half tax burden of the state-owned waste value-added tax, the annual tax burden increased to more than 30 million.
Specific to each ton of paper, if one ton of box-finished paper uses 70% of the national waste, at the current national waste price of 1,500 yuan per ton, the cost per ton of paper will be 77 yuan. Companies that use straw and sugar cane paper can save more than $100.
The preferential catalogue introduces paper enterprises or tax rebates that use waste paper and other materials.
Introduction: Recently, the Ministry of Finance and the State Administration of Taxation jointly issued a notice on the Catalogue of VAT Concessions for Comprehensive Utilization of Resources and Labor Services. According to the preferential catalogue, companies that use paper from waste paper, bagasse and straw will receive a VAT rebate of 50-70%.