The new round of tax reform is forming a driving force for the auto industry. On January 15, Bai Jingming, deputy director of the Institute of Fiscal Science of the Ministry of Finance, revealed that the new round of tax reform of the central government has been launched during the 2015 China Car Dealer Development Forum. Among them, the automobile industry is a focus of attention in the consumption tax reform. The main idea is to "reduce the tax burden."
China's auto industry has a wide variety of taxes from production to consumption, and the tax rate is too high. According to Bai Jingming, the state expects tax revenue of 12 trillion yuan in 2014. From the perspective of product variety, automobile tax ranks third after tobacco and refined oil. Among them, the income of the main tax, including the value-added tax, corporate income tax, consumption tax, and automobile purchase tax, is about 600 billion yuan. If the indirect taxes of manufacturing, production and circulation of automobiles are added up, more 200 billion yuan. The contribution of vehicle consumption tax is more than 80 billion yuan.
The new round of tax reforms established by the Third Plenary Session of the 18th CPC Central Committee focused on value-added tax, consumption tax, resource tax, environmental tax, real estate tax and personal income tax. Among them, the reform of value-added tax, consumption tax and environmental protection tax has far-reaching effects on the tax reduction and light-loading of the automobile industry.
Bai Jingming said: "According to the plan, we will complete the VAT reform by 2015. Its main content is to cancel the business tax and change the business tax into value-added tax. After the completion of this reform, the automobile industry will have a 17% tax rate in the manufacturing field. Expected to drop to 3%."
In the consumption tax reform, the automobile industry is also the focus of attention. The focus is on expanding the scope of collection, adjusting the collection process, and adjusting the tax rate structure. In terms of adjusting the tax rate structure, it includes cleaning up the problem of double taxation. For example, in the past, the consumption tax was levied once before and after the tires were assembled on the vehicle, that is, the tax was repeated. Last year, the consumption tax on the tires was directly cancelled.
In the adjustment of the collection process, the issue of link selection is currently being discussed, that is, which point of the excise tax collection should be transferred. Nowadays, the consumption tax on a large number of products is in the production and manufacturing process. According to the current reform direction, the taxation link should be moved backwards, that is, to the wholesale and retail links, but specifically to the automotive industry, it is suitable for production, manufacturing, and wholesale. The link is still levied in the retail chain and needs to be further studied and discussed.
Bai Jingming also expressed concern that if the consumption tax moves backward, the automobile manufacturing enterprises will be much easier, but the pressure on the dealers is bound to increase. If the problem of the reverse price of the wholesale and retail prices that existed in the industry last year appears for a long time, after the consumption tax is moved backward, the tax base is rather small, but in the wholesale chain, the tax base is stable and easy to collect.
This reform direction is now highly concerned by car dealers. It is understood that the National Federation of Industry and Commerce Automobile Dealers Chamber of Commerce is currently drafting proposals for the reform of the automobile tax system on the status quo of dealers. "We hope to provide timely feedback to the Treasury Department of the Ministry of Finance, from the perspective of the car dealer industry, to help them formulate the next fiscal policy," said Xin Ning, executive vice president of the National Federation of Industry and Commerce Automobile Dealers.
In fact, the recent increase in the tax on refined oil consumption tax has already indicated that the consumption tax reform has begun. The direction of reform of automobile consumption tax is consistent with that of refined oil, that is, it is changed from production to wholesale or retail. Wang Xiaoming, director of the Industrial Economics Research Department of the Development Research Center of the State Council, believes that such tax reform is conducive to consumers choosing energy-saving and environmentally friendly vehicles to achieve rational consumption.
Energy conservation and environmental protection is another focus of this tax reform. It will be strengthened in the next tax reform, and its impact on the automotive industry is both restrictive and beneficial. As Bai Jingming said, China does not have no domestic demand, but resources and the environment are a bottleneck. Therefore, the government must use taxation and other means to prevent domestic demand from concentrating in a certain historical period. However, the tax policy that encourages the consumption of new energy vehicles will benefit the auto industry for a long time. For example, new energy vehicles launched last year are exempt from purchase tax, etc., and this is also the direction of future environmental tax reform.
Previously, some industry experts, represented by the executive vice president and secretary general of the China Automobile Association, Dong Yang, have repeatedly recommended the use of tax leverage to replace the purchase restriction policy. Dong Yang believes that the fundamental reason for local governments to invest in automobile projects on the one hand, and the enthusiasm for car purchases on the one hand, is that local taxes mainly come from industrial projects, and the taxation in the production process is heavy and the tax on consumption is light, so it can be part of The tax levied in the automobile production process is levied on the card and incorporated into the local tax category. This can solve the strange phenomenon that the local market is blindly attracting investment and is unwilling to expand consumption.
The heavy-duty auto industry is running out of breath, and the opening of the curtain-down curtain can bring new opportunities to the auto industry for its structural adjustment and promote new growth points. For the government's new round of tax reform, we must pay more attention to the far-reaching impact of tax reform on industrial restructuring and optimizing resource allocation.
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