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。
"It is expected that people will invest a certain amount of their earnings on mixed-asset portfolios of these products every month, and we hope the government will allow them to enjoy account-based tax deductions rather than product-based tax benefits.
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.
Through active communication with the Singaporean government, the company was granted several favorable policies such as income tax incentives, employee training subsidies, special quotas for foreign staff and property tax deductions.
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.
Notably, Wang said the recently announced additional deductions for individual income tax for those who are raising children or supporting the elderly, will further ease burdens on taxpayers, especially China's middle-income group, which will help increase disposable personal income and boost consumer spending.
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.
China recently implemented measures such as extending tax breaks for low-profit small businesses and self-employed individuals, and providing pretax deductions for research and development expenses of companies.
Cheng Shi, chief economist at ICBC International, said it is reasonable to increase the number of items eligible for personal income tax deductions to raise consumers' disposable income, adding that measures to tap the rising spending power of rural residents may also be on the way.
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 recent move to include care expenses for children under the age of 3 as part of the special additional deductions for individual income tax is expected to reduce the financial burden on families, increase their consumption capacity, and is conducive to the long-term improvement of the nation's overall demographic structure, experts say.
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.
Families with children under the age of 3 had previously been unable to enjoy such individual tax deductions.
The deduction can be applied in full by one parent or can be split evenly, added the circular.
When functional departments introduce structural policies, including those targeting market-oriented reforms and production factors, they should conduct adequate deductions accordingly, fully consider the impact of industry-specific measures on the financial market and consider potential perspectives of the domestic market and the international market in terms of policy interpretation.
Policy incentives such as additional tax deductions for research and development expenses and tax breaks for basic research will be implemented to promote scientific and technological innovation by enterprises.
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 recent years, the country has given full play to tax and fee deductions in vitalizing market entities and shoring up economic development, said Xu Hongcai, vice minister of finance.
According to a statement released by Guangzhou Customs earlier this month, many companies in the city have received tax deductions since the beginning of the year.
"Last year's tax and fee reductions, Wang said, were mainly attributable to tax cuts for smaller businesses, tax deductions of research and development expenditures, value-added tax policies in favor of manufacturers and reduced social insurance contributions by employers.
Also, the government will extend the policies supportive of small and micro businesses and sole proprietorships if appropriate and increase the additional tax deductions of research and development expenditure by technological small and medium-sized enterprises, he said.
Speaking at a symposium in Beijing with economists and business leaders on the performance of the economy, Li pledged continuous policy measures, including extra tax deductions from the research and development costs of businesses, to help enterprises overcome their difficulties and aid their innovation and upgrading.
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.
He urged full implementation of various aid measures for smaller firms and self-employed individuals, saying that the policy that grants extra tax deductions for business research and development costs must be put to better use to spur innovation and upgrading of the manufacturing sector.
According to the guideline, the ratio of extra tax deductions on enterprises' R&D expenses will maintained at 75 percent, while for manufacturing firms, the ratio will be raised to 100 percent.
This year, the country increased the ratio of extra tax deductions on R&D expenses of manufacturing enterprises to 100 percent, which means that for every 1 million yuan spent on R&D, a company will see 2 million yuan deducted from its taxable income.
- 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.
Finance Minister Liu Kun said in an article that the country will continue to perfect its individual income tax system in the 14th Five-Year Plan period (2021-25), with special tax deductions set to be further improved.
In 2019, China carried out a round of individual income tax reform that raised the tax exemption threshold and added six categories of special tax deductions.
Such measures include value-added tax reform, additional individual income tax deductions and tax relief for small and micro enterprises, the spokesman said.
"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.
Experts said the policies mean consumers who purchase cultural relics exhibits at the expo can enjoy tariff exemptions and import-tax related deductions.
CISA data showed that by the end of May, surveyed steel enterprises that are members of the association had saved 6.5 billion yuan in operational costs, thanks to the government cuts in taxes and fees, including 4.5 billion yuan from deductions in social and medical insurance premiums, and 700 million yuan from deductions in transportation-related taxes and fees.
The cost of logistics will be further reduced with a series of measures, including tax and fee deductions, according to a government document on reducing logistics costs forwarded by the General Office of the State Council.
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.
These companies will enjoy income tax deductions," said Pang Wei, vice-chief of the Shanghai Municipal Bureau of Local Taxation.
The province will allow film firms to delay tax payment and apply for tax deductions as the film industry faces a downside in business due to the epidemic, according to the provincial government.
China saw 73 new deliveries along with 29 pre-owned additions and 13 deductions last year.
The number of new deliveries in the Chinese mainland increased from 16 in 2017 to 24 in 2018, which was however offset by a higher number of deductions - 15 in 2017, and 39 in 2018.
The government's Dec 22 announcement of interim special individual income tax deductions took effect on Jan 1, with the goal of lowering the tax burden of people with certain expenditures.
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.
"The electric vehicle boom is recognized as a result of China's intensified financial support, including tax deductions and subsidies," said Chen Bin, executive vice-president of the Beijing-based China Machinery Industry Federation.
The electric vehicle boom is recognized as being a result of the country's intensified financial efforts, including tax deductions and subsidies.
"Ye Liang, a Shanghai-based principal of German consulting firm Roland Berger Consultants said there would be deductions in the planned capacity when put into practice, and the reality could be complicated, as the plug-in hybrid and blade electric technologies are different, while the commercial vehicles have battery packs different than those used in passenger cars.
Reindustrialization is occurring against the backdrop of a clamor for tax depreciation allowances or deductions for research and development by Hong Kong companies in the Greater Bay Area.
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.
In order to further encourage enterprises to increase investments in research and development, the Ministry of Finance released guidelines for the new policy of extra pretax deductions for research and development expenses of manufacturers.
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.
In November, the State Taxation Administration reported that taxpayers who have registered personal information in the tax-paying system do not have to re-declare for the additional tax deductions.
The STA developed a mobile app to collect taxpayers' e-applications for additional deductions.
According to the annual taxation conference held by State Taxation Administration, total tax and fee payment rebates, deductions or deferments were worth 2.23 trillion yuan in 2023.
Tax deductions extended to companies' research and development expenses rose significantly, said the State Taxation Administration on Thursday.
The top tax authority said at a State Council news conference that companies saved 1.85 trillion yuan in the form of tax deductions for R&D expenses in the first three quarters, up nearly 14 percent year-on-year.
Corporate taxpayers from the manufacturing sector benefited the most, receiving 60 percent of such R&D tax deductions totaling over 1.1 trillion yuan.
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.
Huang Yun, spokesman of the STA, disclosed that though the full-year figure for R&D tax deductions is still being worked out, the figure for 2023 will "only be bigger".
Li Xuhong, head of fiscal taxation policy and application at the Beijing National Accounting Institute, said: "Such efforts will help (corporate) taxpayers save fully on operating costs through R&D expense deductions.
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.
The policy incentive of increasing additional tax deductions for research and development expenses should continue as a long-term institutional arrangement, administration official Wang Shiyu said in an interview with Xinhua.
Tax and fee payment rebates, deductions or deferments were worth nearly 1.24 trillion yuan ($170 billion) for private businesses in the first 10 months of this year.
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.
Li Xuhong, head of fiscal taxation policy and application at the Beijing National Accounting Institute, said: "Such measures will help taxpayers fully save on operating costs through R&D expense deductions.
"China announced on Thursday higher additional deductions for individual income tax for those who are raising children or supporting the elderly, as part of the country's ongoing efforts to reduce taxes, ease household burdens and spur consumption.
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.
For instance, taxpayers who did not benefit from extra tax deductions on research and development costs during the July tax period can still enjoy such benefits through August and September.
"Such measures will help taxpayers fully save on operating costs through R&D tax deductions.
In 2019, just two months before COVID-19 emerged, the Ministry of Finance issued a circular announcing increased value-added tax, or VAT, deductions for community services such as housekeeping, child care, and care for the elderly.
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.