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State Administration of Taxation: 110 tax incentives to promote poverty alleviation

Source: China News Agency Release time: 2019-08-16

China News Service, Beijing, August 14th (Reporter Zhao Jianhua) The State Administration of Taxation on the 14th issued the "Guidelines for Preferential Tax Policies to Support the Eradication of Poverty Alleviation". From six aspects, including supporting infrastructure construction in poor areas, promoting the development of agricultural industries, stimulating entrepreneurial employment in poor areas, promoting the development of inclusive finance, accelerating the development of "old, young, poor and poor" areas, and encouraging social forces to increase poverty alleviation donations, China has six areas: Implemented 110 preferential tax policies to promote poverty alleviation.

In terms of supporting infrastructure construction in poor areas, taxation policies support the construction and operation of people's livelihood projects such as transportation and water conservancy, promote the improvement of productive, living, ecological and environmental infrastructure construction, and optimize the economic and social development environment in poor areas.

In promoting the development of agriculture-related industries, China has implemented a series of preferential policies in terms of optimizing the allocation of land resources, promoting agricultural production, encouraging the development of new business entities, promoting circulation, and supporting the comprehensive utilization of agricultural resources to help impoverished areas enhance the "blood-forming" function. .

Employment and entrepreneurship is the most effective and direct way to fight poverty. China has continuously increased its support for entrepreneurship and employment policies, expanded the scope of preferential policies for small and micro enterprises, strengthened policy support for employment and entrepreneurship of key groups or special groups such as the unemployed, the disabled, etc., and strengthened the endogenous motivation of people in poor areas to get rid of poverty and become rich.

In promoting the development of inclusive finance, the tax policy encourages financial institutions and insurance, guarantee, and small-scale enterprises to focus on farmers and small and micro enterprises through various methods, such as tax exemption, deduction of income, pre-tax deduction of reserves, and simple tax calculation. Loan companies to increase financial support for poverty alleviation and development.

At the same time, China also implements regional preferential policies such as the western region, ethnic regions, and difficult regions in Xinjiang to promote the accelerated development of areas such as "old, young, and poor," and other regions. It has increased preferential policies for poverty alleviation donations and guided social forces to actively participate in poverty alleviation. Encourage social forces to increase poverty alleviation donations.

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