Chongqing Daily All Media Xiang Jumei
On September 28, a reporter from Chongqing Daily learned from the Municipal Taxation Bureau that in October this year, when an enterprise prepayed declaration for the third quarter or prepaid declaration for enterprise income tax in September, it can independently choose to enjoy the preferential policy of additional deduction for research and development expenses in the first three quarters.
On September 14, the State Administration of Taxation issued the Announcement on Issues Related to the Further Implementation of the R&D Expense Deduction Policy (hereinafter referred to as the "Announcement"), which further adjusted the time for enjoying the preferential policy of R&D expense deduction.
"Before 2021, the R&D expense deduction can only be reported in the annual settlement." Hu Rui, director of the Enterprise Income Tax Division of the Chongqing Municipal Taxation Bureau, said that in the first half of 2021, the state clearly stated that when prepaying enterprise income tax in the third quarter, it can enjoy the additional deduction of research and development expenses in the first half of the year in advance. The "Announcement" adjusts the "first half of the year" to the "first three quarters", which means that enterprises can enjoy an additional quarter of R&D expenses plus deduction.
"Under the new policy, enterprises enjoy preferential treatment earlier, saving capital costs." Chen Ming, financial director of Chongqing Tianjian Inertia Technology Co., Ltd., calculated a tax reduction account, and under the latest policy, the company expects to increase the deduction for R&D expenses in October from 10.8 million in the previous two quarters to 13 million in the first three quarters.
Since the implementation of the R&D expenses deduction policy in 1996, the scope of R&D expenses has been continuously expanded, the proportion of deductions has been continuously improved, and the declaration and review procedures have been continuously simplified. In 2020, 5,660 enterprises in Chongqing enjoyed a cumulative deduction of R&D expenses of 19.713 billion yuan. With this policy adjustment, it is expected that more than 5,000 enterprises in the city will enjoy the new policy of R&D expenses plus deduction in advance, which can reduce the burden on enterprises and accelerate the flow of funds as soon as possible, which is conducive to encouraging enterprises to increase investment in research and development and promote innovation and transformation.
According to another introduction, the "Announcement" also added an optimization and simplification of the auxiliary account style of R&D expenses, which reduced the difficulty of filling in. Specifically, the additional 2021 version of the R&D expenditure auxiliary account style has reduced 3 "auxiliary accounts" on the basis of the 2015 version, and streamlined the auxiliary account information, adjusted and optimized the operation caliber, and reduced the tax burden. At the same time, the "Announcement" also simplifies the calculation method of other related expenses, which used to be accounted for by project, but now, all projects are unified in accounting, only need to be calculated once, and the amount that can be deducted is generally increased, and the workload of enterprise financial personnel is also greatly reduced.
The relevant person in charge of the Municipal Taxation Bureau said that Chongqing Taxation will continue to provide policy consultation, tax-related counseling and other services for enterprises, and track the implementation of policies in real time to ensure that enterprises can facilitate operation and quickly enjoy the preferential policy of pre-tax deduction of research and development expenses, stimulate the enthusiasm of market players in scientific and technological innovation, and help Chongqing "intelligent manufacturing".