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    Home > Chemicals Industry > China Chemical > Increase the deduction of R&D expenses for instrument and meter manufacturers from 75% to 100%

    Increase the deduction of R&D expenses for instrument and meter manufacturers from 75% to 100%

    • Last Update: 2021-10-07
    • Source: Internet
    • Author: User
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    [ Hot Spotlight on Chemical Machinery and Equipment Network ] On March 24, *Premier Li Keqiang hosted* an executive meeting to deploy and implement policies such as increasing the percentage of R&D expenses deductions for manufacturing enterprises to encourage enterprise innovation and promote industrial upgrading.

     
    Chemical machinery and equipment network hotspots pay attention to chemical machinery and equipment
    The meeting pointed out that in accordance with the deployment of the party * and *, the role of enterprise innovation should be better utilized, market-oriented, fair and inclusive incentive policies should be used more, and enterprises and the whole society should be encouraged to increase research and development investment, strengthen economic development, and promote economic structure optimization.
    .
    In recent years, preferential tax policies for the deduction of R&D expenses have been continuously increased, which has effectively promoted corporate innovation.

     

    In order to implement the "Government Work Report" related measures to support enterprise innovation, the meeting decided that, starting from January 1 this year, the rate of deduction for R&D expenses of manufacturing enterprises will be increased from 75% to 100%, which is equivalent to every 1 million invested by enterprises.
    RMB 2 million can be deducted from the taxable income for research and development expenses.
    The implementation of this policy is expected to reduce taxes by more than 360 billion yuan last year, and an additional 80 billion yuan in tax cuts for enterprises this year.

     

    The second is to reform the calculation method for the settlement and payment of R&D expenses, allowing enterprises to choose to enjoy the preferential deduction for half a year.
    The R&D expenses for the first half of the year will be changed from the deduction when the income tax is settled and paid in the following year to the prepayment in October of the current year.
    The deduction will benefit the enterprise as soon as possible.
    At the same time, it is necessary to study tax support policies for technology R&D service companies and "double innovation" companies.

     

      China's manufacturing industry is mainly divided into instrument and meter manufacturing, general equipment manufacturing, * equipment manufacturing, electrical machinery and equipment manufacturing, metal products, machinery and equipment repairing, chemical raw materials and chemical products manufacturing, pharmaceutical manufacturing, rubber And plastic products industry, metal products industry, etc.

     
    Instrumentation plastic products
      In recent years, thanks to the improvement in the operating conditions of instrumentation services in the machinery, metallurgy, and petrochemical industries, the development of my country's instrumentation manufacturing industry has been improving.
    According to national* data, in 2020, my country's instrument and meter manufacturing industry above designated size will achieve a total profit of 81.
    97 billion yuan, an increase of 11.
    6% over the same period last year.

     

      However, my country's instrument and meter manufacturing industry is still facing the problem of large but not strong.
    Instrument manufacturing companies are still dominated by small and medium-sized enterprises.
    Instrumentation products are mainly low-end and medium-end products.
    They lack core technologies that can compete with foreign countries.
    * Improve Preferential policies such as the additional deduction ratio for R&D expenses of manufacturing enterprises will greatly encourage instrument manufacturing enterprises to continue to innovate and promote industrial upgrading.

     

      Original title: The additional deduction of R&D expenses for instrument and meter manufacturing enterprises increased from 75% to 100%
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