His
deduction is unreasonable.
他的演绎不合理。
Eric arrived at the solution by a simple process of
deduction.
埃里克通过一番简单的推理得出了解决问题的方法。
After
deductions,my taxable income is $30,000.
除掉免税项目后，我的应税收入为3万美元。
The countries' policies put forward soon after the outbreak of COVID-19, especially in tax deduction and finance, not only supported enterprises but also encouraged them, said Zhou.
During the shopping festival, consumers can receive different types of coupons such as those for 100 or 50 percent off, other discounts and free shipping, which could be used as a deduction when they make orders at JD Daojia's platform.
""To that end, we will offer payment within 13 calendar days, with no interest deduction, for a period of three months," he said.
With the deduction for non-recurring gains and losses, the company's net profits attributable to its shareholders went down 6.78 percent year on year.
Measures such as early tax rebates, increasing deduction ratios for research and development expenses, and lowering costs of electricity, rent and logistics are also advisable.
Participants will be entitled to a contribution deduction of up to 12,000 yuan each year from their annual taxable income.
- A tax relief policy introduced last year has been formalized into a regulation, allowing companies to receive the majority of the annual benefit from a tax deduction of research and development costs at least three months in advance, according to China's State Taxation Administration.
The deduction can be applied in full by one parent or can be split evenly, added the document.
She added that the new tax deduction policy will be well-aligned with the current individual tax breaks in other areas such as expenses related to preschool and compulsory education.
The deduction can be applied in full by one parent or can be split evenly, added the circular.
This year, micro, small and medium-sized enterprises, or MSMEs, which purchase new equipment worth more than 5 million yuan with a three-year depreciation period, are entitled to a one-off deduction of total purchase costs from taxable income.
For those with equipment depreciation periods of four, five or 10 years, they are eligible for a 50 percent deduction.
To encourage innovation development, Li said the government will raise the tax deduction coverage for small and medium science and tech enterprises from 75 percent to 100 percent, grant tax breaks to enterprises that invest in basic research and support more foreign investment in medium－and high-end manufacturing, R&D and modern services.
In addition, for qualified capital expenditures of enterprises, one-time pre-tax deduction or accelerated depreciation and amortization are allowed in the current period of expenditure; and income from tourism, modern services, high-tech industries and new overseas direct investment in the cooperation zone shall be exempted from the corporate income tax.
Despite the withdrawal of temporary tax and fee reductions, China will continue the institutional tax reforms introduced in recent years, such as reducing the value-added tax rate, value-added tax rebate and special additional deduction of personal income tax, so as to release the policy effects, said a spokesman with the finance ministry.
The rise of the personal income tax threshold and the establishment of special additional deduction have further reduced the relative attraction of the deferred commercial pension insurance of individual tax.
- China will further raise the extra tax deduction on the research and development expenses of manufacturing firms, to incentivize business innovation and advance industrial upgrading, the State Council executive meeting chaired by Premier Li Keqiang decided on Wednesday.
The intensity of the tax break of extra deduction of R&D expenses has been raised in recent years, which has effectively supported corporate innovation.
To implement the tasks outlined in the Government Work Report in support of business innovation, the ratio of extra tax deduction on enterprises' R&D costs will be raised from 75 percent to 100 percent, starting Jan. 1 this year.
"The calculation method in the tax deduction of R&D costs will be reformed.
The country will roll out more policy support to motivate businesses to engage in research and development during the 14th Five-Year Plan (2021-25) period, Li said, adding that China has decided to raise the extra tax deduction on the R&D expenses of manufacturing enterprises.
"Supportive policies will be given to the research and development of reliability technologies, and the deduction of R&D expenses during the process," the official added.
"According to the State Council policy, enterprises entitled to the current additional pretax deduction of 75 percent for research and development expenses are allowed to apply for 100 percent deduction and it will become a long-term institutional arrangement.
China raised the extra tax deduction on the R&D expenses of manufacturing firms starting Jan 1 this year.
Nan suggested including the loan interest into the value-added tax input deduction range, reducing the VAT rate year-by-year or reducing the current three levels of tax payment of 13 percent, 9 percent, and 6 percent into two levels for photovoltaic companies in general.
Taxpayers are now eligible for housing rent deduction of up to 18,000 yuan ($2,660) from their taxable annual income, if they do not own any housing in the city where they work.
Market insiders said some landlords may persuade their tenants not to claim rent-related deduction.
Wang Wei, a software programmer in Beijing, said she does not intend to apply for rent-related deduction as her rental agent said she may end up paying for the landlord's additional tax indirectly, by way of higher rent.
"It's good to hear my tenant does not plan to apply for rent-related deduction.
Other real estate rental operators, such as Danke, and long-term rental apartment brands such as Vanke's Port Apartment and Longfor's Guanyu, also said they are willing to provide their information to help tenants get tax deduction.
Sandy Cheung, a partner at PwC specializing in individual income tax, said the rationale for requesting in-depth information on rental expenses is to provide tax authorities a means to verify the genuineness of a deduction made by taxpayers and to deter them from making false claims on non-existing expenses.
"It is never the intention of tax authorities to use the information collected via the rental expense special deduction item as a means to track down tax revenue due to tax non-compliance of some property owners.
CAAM Deputy Secretary-General Shi Jianhua said at the ceremony that the purchase tax deduction policy had overdrawn the customers' purchasing power in 2016, and "the impact was stronger than expected".
China began the purchase tax deduction from Oct 1, 2015 to accelerate the auto market expansion.
The purchase tax for those vehicles increased to 7.5 percent from Jan 1, 2017, and the deduction will come to an end by the end of 2017.
The company said it is planning its first round of investment, after investing nearly $1 billion and returning the $16,200 government fund and the $620,000 tax deduction to the Nevada state government in August.
This year, China will enhance the policy of granting additional tax breaks for research and development costs, raising the deduction coverage for small and medium sci-tech enterprises from 75 percent to 100 percent.
According to the report, China will work to raise the deduction coverage for small and medium sci-tech enterprises from 75 percent to 100 percent, grant tax breaks to enterprises that invest in basic research, and improve policies on accelerated depreciation of equipment and tools and on preferential corporate income tax for new and high-tech enterprises.
The deduction ratio was raised to 100 percent from 75 percent, effective on Jan 1.
"According to him, China has decided to introduce the tax incentive of raising the extra tax deduction on the R&D expenses of manufacturing enterprises to 100 percent in order to encourage companies to scale up inputs in research and development.
The R&D tax deduction was introduced as a preferential tax policy, allowing companies to save more by way of a certain percentage of their R&D expenditure.
Jiao also said that as of the end of October, BOE Technology had enjoyed a super deduction of nearly 1.6 billion yuan in R&D expenses, which greatly reduced the company's costs, helping it to pursue more innovations.
China has cut more than 2.2 trillion yuan ($305 billion) of taxes and fees last year, with a significant rise of tax deduction on the research and development for enterprises, said the State Taxation Administration on Thursday.
Companies have enjoyed an additional tax deduction for research and development expenses, a tax measure to encourage corporate innovation, that hit 1.85 trillion yuan in the first three quarters, up 13.6 percent year-on-year, the tax authority disclosed, adding that the whole-year figure will be bigger.
Among those companies, taxpayers from the manufacturing sector benefited most, with 1.1 trillion yuan of tax deduction, accounting for nearly 60 percent of the total, it said.
Additionally, more than 403,000 companies enjoyed pre-tax super deduction on research and development expenses in the first three quarters.
The pre-tax super deduction of R&D expenses is a preferential tax policy.
If a company incurs 10 million yuan in R&D expenses that do not result in intangible assets and are recorded as current expenses, the company can deduct 100 percent of the expenses incurred, in addition to the pre-tax deduction of 10 million yuan that is already granted by law.
Jiao also said that as of the end of October, BOE Technology has enjoyed a super deduction of nearly 1.6 billion yuan in R&D expenses, which strengthened the company's finances, helping it to pursue more innovations.
Under the Hong Kong-Bangladesh CDTA, Hong Kong companies can enjoy double taxation relief in that any tax paid in Bangladesh, whether directly or by deduction, in accordance with the CDTA, will be allowed as a credit against the tax payable in Hong Kong in respect of the same income, subject to the provisions of the tax laws of Hong Kong.
On March 24, an executive meeting of the State Council decided that the policy allowing enterprises entitled to an additional pretax deduction of 75 percent for research and development expenses to apply for a 100 percent reduction will continue as part of long-term institutional arrangements.
"It means that from this year on, businesses can be freed from the constant concern that the pretax deduction policy may end.
"By increasing the pre-tax deduction ratio of corporate R&D expenses from 75 percent to 100 percent and implementing it as a long-term institutional arrangement, the move can provide incentives to encourage manufacturing companies to invest more resources in R&D and enhance their strengths," Allen Shi-Lop-tak, president of the Chinese Manufacturers' Association of Hong Kong, told China Daily via an email inquiry.
Moreover, the meeting decided that the policy allowing enterprises entitled to the current additional pre-tax deduction ratio of 75 percent for R&D expenses to apply a ratio of 100 percent will continue as part of long-term institutional arrangements.
To better support sci-tech innovation, the country will further improve its policy on the pretax deduction of research and development expenses of enterprises starting Jan 1, 2023.
The policy allowing enterprises entitled to the current additional pre-tax deduction ratio of 75 percent for research and development expenses to apply a ratio of 100 percent will continue, as part of long-term institutional arrangements.
At the meeting, Wang also said that the country has collected a total of 140 trillion yuan in tax revenues (without the deduction of export tax rebates) over the past 10 years.
After issuance expense deduction, the company will use the raised funds from the issuance of GDR to expand its main business and strategic investment business, promote the global layout and supplement the company's operational capital, Keda said.
The customer service staff of ICBC said that a housing mortgage person in a closed-loop management area such as Jilin province can apply for an extension of the mortgage deduction if he or she cannot pay their mortgage on time due to the epidemic.
While sustaining the existing measures for tax and fee cuts to support small and medium-sized enterprises and individual businesses, as well as strengthening deduction of the value-added tax, targeted steps should be taken to help businesses in the service industry that create many jobs but have been hit hard by the pandemic, Li said.
Meanwhile, foreign companies in China can also enjoy an additional deduction for research and development expenses, a tax measure to encourage corporate innovation.
In terms of supporting advanced manufacturing enterprises, the country will continue to implement the policy of granting an extra tax deduction of 75 percent for the research and development costs of enterprises, and raise the same to 100 percent for manufacturing enterprises.
The deduction will come into effect from Jan 1 this year.
"But this trial is very limited now," said Zhou, adding new policies should increase the pre-tax deduction of the premium and enlarge the group of individual investors of commercial endowment insurance.
It suggested the implementation of a policy of granting an extra tax deduction on enterprises' research and development costs and using preferential tax treatment to encourage greater investments.
The tax deduction will be raised to 100 percent from 75 percent of R&D costs.
The company, which plans to invest 40 million yuan in research and development, will have a tax deduction of 10 million yuan in its corporate income tax, according to Lin.
Companies in sectors including transportation, catering, accommodation and tourism will be allowed to carry over their losses logged this year to an extended period of eight years for deduction from their pretax profits.
Second, investors should not bottom-fish stocks that have neither large deduction of prices nor low valuations.
Individual income tax revenue fell by 18.1 percent in the first two months, compared with growth of 1.7 percent in December, because the new individual income tax deduction policy took effect in January.
With the newly-revised tax exemption and deduction, revenue from individual income tax plunged by 18.1 percent year-on-year to 232.6 billion yuan.
China raised the deduction baseline for personal income tax from 3,500 yuan to 5,000 yuan per month on Oct 1, and six categories of special deduction items, including children's education, continuing education, healthcare treatment for serious diseases, mortgage interest and rent, and senior care, took effect on Jan 1 this year, according to the Personal Income Tax Law amended on Aug 31.
The special deduction items will not be fixed, but rather dynamically adjusted with socioeconomic development and the improvement of people's living standards, said Premier Li Keqiang at a State Council executive meeting.
The State Council said the scope and standard of the special expense deduction will be implemented on Jan 1 after a period of public consultation, and will be adjusted dynamically with the development of the economy and the improvement of living standard.
Chen Lihua, vice finance minister, said at a news conference on Aug 31 the government has preliminarily considered setting a certain quota or standard for the special expense deduction in order to ensure taxpayers pay tax conveniently, relevant expenses get deducted reasonably and the policy is fair, so the taxpayers can enjoy the benefits of tax reduction, the report said.
To promote the smooth implementation of the special expense deduction next year and by drawing from the experience of other countries, at the current stage it is possible for specific deduction standards or quotas to adopt a "double track" of fixed amounts and fixed proportion limits, Zhu Jinhua, a partner in international assignment services at PwC China, said.
Zhu said the fixed amount could apply to deductions for continuing education and caring for the elderly, while fixed proportion limits could apply to the deduction items that may differ due to different income levels and consumption structures of taxpayers, such as children's education, treatment for serious diseases and housing loan interest and rent.
As outlined in the provisions, foreign individuals who meet the eligibility criteria can either opt for the special additional deduction on personal income tax or adhere to the earlier regulations, thereby accessing tax exemption benefits on housing subsidies, language learning fees, children's education expenses and other subsidies.