Qingdao exempts companies that sell tens of millions of paints from consumption tax.

China Coatings Network
:
with the Qingdao battery,
coatings
consumption tax policy, the effect of tax reform gradually appeared. Reporters learned from the Municipal IRS, as of the end of September 2015, Qingdao City, a total of 256
paint enterprises
, 18 battery production and processing enterprises have made tax returns, of which 61 enterprises enjoy the consumption tax exemption. A total of 6.49 million yuan of consumption tax was collected and 27.39 million yuan was exempted from consumption tax.
, as of February 1, 2015, the consumption tax on batteries and coatings will be levied on batteries and coatings at a rate of 4% for production, commissioned processing and import. Consumption tax is waived on mercury-free primary batteries, nickel hydride batteries, lithium-ion batteries, solar cells, fuel cells and whole-stream cells, and on coatings with volatile organic matter below 420 g/L under construction conditions. Although the collection of consumption tax, although involving small taxpayers, tax share is not large, but in promoting batteries, coatings and other related enterprises to adjust the product structure, promote the transformation and upgrading of the industry to green environmental protection and so on played a strong guiding role.
among the paint enterprises enjoying tax benefits, 1 household with sales revenue of more than 100 million yuan is exempted from consumption tax of 11.83 million yuan, and 9 households with sales revenue of more than 10 million yuan are exempted from consumption tax of 3.69 million yuan. Thus, the introduction of the new policy further encouraged the development of large enterprises with high level of technology and strong environmental protection benefits, and pointed out the direction for promoting the transformation and upgrading of enterprises.