94% of fabrics do not have to pay taxes! The clothing industry is coming spring

- Mar 11, 2019-

Specifically, deepen the VAT reform, reduce the current 16% tax rate in industries such as manufacturing to 13%, and reduce the current 10% tax rate in the transportation, construction and other industries to 9%, ensuring a significant reduction in tax burdens in major industries. Maintain a 6%-level tax rate unchanged, but by adopting complementary measures such as increasing tax deductions for production and life service industries, ensure that tax burdens in all industries are only reduced.

The manufacturing value-added tax rate is lowered by 3 percentage points, and all tax burdens are only reduced.

According to the Notice of the Ministry of Finance and the State Administration of Taxation on Implementing the Inclusive Tax Deduction Policy for Small and Micro Enterprises, the Taxation Department of Keqiao District recently decided to exempt the business of Keqiao Textile Market with monthly sales below 100,000 yuan. Including VAT, personal income tax, urban construction and maintenance tax, education surcharge, local education surcharge and other five taxes and fees of about 5.05%, this will be the light textile market self-employed households tax reductions totaled 206 million yuan, 94 More than % of the business households do not have to pay taxes.

China Textile City is Asia's largest cloth distribution center

In 2018, the turnover reached 180.838 billion yuan.

10.1% year-on-year growth

Statistics at the end of 2018

There are 18,308 self-employed households in China Textile City

Among them, 17558 households with monthly sales below 100,000 yuan

Last year, the total amount of taxes and fees for self-employed households was 219 million yuan.

The relevant person in charge of Keqiao Taxation Bureau said that in addition to the tax reduction and exemption for self-employed households in the textile market, the tax reduction and exemption for textile companies in China Textile City is unprecedented. Among them, textile companies with annual profit of less than 1 million yuan, income tax On the basis of last year's halving; companies with annual profit of 1 million to 3 million yuan, income tax can be reduced by about 65% on the basis of last year.