According to the editor , the newly revised "Small and Medium Enterprises Promotion Law of the People's Republic of China" was officially promulgated. The new promotion law is of great significance for promoting the sustainable and healthy development of small and medium-sized enterprises. For details, please refer to the report on September 7, 2017, the “New SME Promotion Law promulgated and further improved financing and other related measuresâ€. In view of the large changes in the new promotion law and the bright spots, I asked the SME Bureau of the Ministry of Industry and Information Technology to interpret the topics of “Financial and Taxation Supportâ€, “Financing Promotionâ€, “Talent Constructionâ€, “Entrepreneurial Innovation†and “Market Developmentâ€. To further explain the profound connotation of the new promotion law for readers. This issue is the first one, so please keep your attention. On September 1, 2017, the newly revised "Small and Medium Enterprises Promotion Law" was approved by the Twenty-ninth Meeting of the 12th National People's Congress Standing Committee and will be implemented on January 1, 2018. Compared with the original SME Promotion Law enacted in 2002, the new SME Promotion Law provides more detailed and more operative measures. In terms of fiscal and tax support, the new promotion law summarizes the practical experience of various fiscal and taxation support policies in recent years, focusing on the regulation of fiscal and taxation support policies from the three aspects of SME development special funds, SME development funds and tax incentives.
Strengthening the role of financial funds support Article 8 of the new promotion law stipulates that “the central government should set up SME subjects in the budget of this level and arrange special funds for the development of small and medium-sized enterprises.†The new law clearly proposes that the central government allocates special projects for the development of small and medium-sized enterprises in the budget of this level. The funds have further strengthened the close relationship between the special funds for finance and the promotion of the promotion and promotion of SMEs. At the same time, the new promotion law has added Article 9 “Special funds for the development of small and medium-sized enterprises through funding, purchase of services, incentives, etc., focusing on supporting the construction of public service systems and financing service systems for small and medium-sized enterprisesâ€, and further clarifying SMEs. The key support direction for the development of special funds. In order to implement the "Small and Medium Enterprises Promotion Law", in October 2004, the Ministry of Finance and the National Development and Reform Commission (since 2003, the National Economic and Trade Commission's Small and Medium Enterprise Administration was transferred to the National Development and Reform Commission) jointly issued the "SME Development Special Fund Management". The Interim Measures (Caiqi [2004] No. 185), for the first time, arranged special funds for the development of small and medium-sized enterprises in the central government. After that, the Ministry of Finance and the SME management department have repeatedly adjusted the financial support methods and support priorities: September 2008, Ministry of Finance, Industry and Information Technology (since 2008, the National Development and Reform Commission The system was transferred to the Ministry of Industry and Information Technology to jointly issue the “Management Measures for Special Funds for SME Developmentâ€, which stipulates that special funds are mainly used to support the structural adjustment, professional development, technological progress, brand building, and SME credit guarantee system for SMEs. etc. In April 2014, the Ministry of Finance, together with the Ministry of Industry and Information Technology, the Ministry of Science and Technology, and the Ministry of Commerce, integrated various types of support funds for SMEs into special funds for SME development, and the scope of support changed from “point†to “faceâ€. Improve small business clusters, improve technology and enterprise upgrade services, improve information services and operational monitoring, improve the training service environment, and support and guide various guarantee institutions to provide loan guarantee services for SMEs. In July 2015, the support method and scope of support for SME development special funds were adjusted once again, and the support direction was adjusted to support the demonstration work of small and micro enterprise entrepreneurship innovation base cities. For a long time, special funds for SME development have played an important role in improving the service system, improving the financing environment, supporting the restructuring and optimization of SMEs, and promoting entrepreneurial innovation. In the next step, along with the promulgation and implementation of the new promotion law, the Ministry of Industry and Information Technology and the relevant departments of the Ministry of Finance, in conjunction with the relevant provisions and spirit of the new law, will conduct further research on the support priorities and use methods of special funds for SME development, so that special funds can Promote the promotion of SME development more effectively.
Strengthening the guidance and development of the SME Development Fund as a market-oriented means of supporting the development of SMEs, and gradually playing an increasingly important role. Since the approval of the State Council in 2015, the National SME Development Fund has successfully established four physical funds and started to operate, with a total scale of 19.5 billion yuan, of which the central government invested 4.8 billion yuan. In the new promotion law of this revision, on the one hand, the nature and operation of the SME Development Fund have been supplemented and refined, stipulating that “National SME Development Fund should follow the principle of policy orientation and market operation, mainly used for Guide and promote social funds to support start-up SMEs and promote entrepreneurial innovation, and provide clear legal guidance for the operation and development of SME development funds in the coming period. On the other hand, the new promotion law has also added provisions for “local governments at all levels above the county level to establish SME development fundsâ€, by providing legislative guarantees to encourage local governments to set up funds to promote the development of local SMEs and promote the formation of national funds and The good development trend of local funds linkage. As of August 31, 2017, the National Fund for SME Development Fund has completed 91 investment projects with an investment amount of 2.467 billion yuan. The investment project covers a wide range of industries, covering all regions of the country, taking into account investment in projects in underdeveloped areas, and promoting the establishment of local SME development funds in Sichuan, Henan, Hebei, Qinghai, Gansu, Yunnan, Xinjiang and other regions. The situation of joint development and linkage development between the national and local SME development funds. In the next step, the National SME Development Fund will focus on the growth of small and medium-sized enterprises in the seed period and the initial stage in accordance with the requirements of the new promotion law, and provide more effective support for promoting the innovation and development of small and medium-sized enterprises. Strengthening tax incentives and support In recent years, the state has attached great importance to stimulating the vitality of mass entrepreneurship and innovation, and improving the development environment for small and medium-sized enterprises. It has introduced a series of inclusive tax incentives, including the reduction of income tax on small and micro enterprises, and the improvement of the value-added tax threshold. Helping SMEs reduce taxes and fees. In this revised new promotion law, some of the current tax incentives have been raised to the law, such as the “national implementation of tax policies conducive to the development of small and micro enterprises, and the reduction and exemption of eligible small and micro enterprises in accordance with regulations. Measures such as corporate income tax and value-added tax will simplify the tax collection and management procedures and reduce the tax burden of small and micro enterprises. At the same time, functional tax support regulations will be added. In terms of entrepreneurial support, college graduates, veterans and unemployed people, disabled people, etc., set up small and micro-enterprises to enjoy tax incentives and fee reductions in accordance with state regulations. Where venture capital enterprises and individual investors invest in the initial technological innovation enterprises, they shall enjoy tax benefits in accordance with state regulations. In terms of innovation support, the fixed assets of small and medium-sized enterprises need to accelerate depreciation due to technological advancement and other reasons. The depreciation period can be shortened according to law or accelerated depreciation methods can be adopted. The state improves the research and development costs of small and medium-sized enterprises and deducts policies to support technological innovation in small and medium-sized enterprises. By raising the above-mentioned tax incentives into legal provisions, the long-term and sustainable nature of relevant policies has been clarified at the legal level, and targeted institutional arrangements have been made, which is important for cultivating market players and creating new development kinetic energy. The practical effect and long-term significance. The revised SME Promotion Law was revised and promulgated 15 years after the promulgation of the original law, fully demonstrating that the state attaches importance to and supports the development of small and medium-sized enterprises in many aspects. The Ministry of Industry and Information Technology will work with relevant departments to integrate new SMEs. The promulgation and implementation of the Promotion Law, actively carry out relevant work, conscientiously implement various national fiscal and taxation support policies, and provide more assistance to promote the development of small and medium-sized enterprises. (Submission from the Ministry of Industry and Information Technology Bureau)
Strengthening the role of financial funds support Article 8 of the new promotion law stipulates that “the central government should set up SME subjects in the budget of this level and arrange special funds for the development of small and medium-sized enterprises.†The new law clearly proposes that the central government allocates special projects for the development of small and medium-sized enterprises in the budget of this level. The funds have further strengthened the close relationship between the special funds for finance and the promotion of the promotion and promotion of SMEs. At the same time, the new promotion law has added Article 9 “Special funds for the development of small and medium-sized enterprises through funding, purchase of services, incentives, etc., focusing on supporting the construction of public service systems and financing service systems for small and medium-sized enterprisesâ€, and further clarifying SMEs. The key support direction for the development of special funds. In order to implement the "Small and Medium Enterprises Promotion Law", in October 2004, the Ministry of Finance and the National Development and Reform Commission (since 2003, the National Economic and Trade Commission's Small and Medium Enterprise Administration was transferred to the National Development and Reform Commission) jointly issued the "SME Development Special Fund Management". The Interim Measures (Caiqi [2004] No. 185), for the first time, arranged special funds for the development of small and medium-sized enterprises in the central government. After that, the Ministry of Finance and the SME management department have repeatedly adjusted the financial support methods and support priorities: September 2008, Ministry of Finance, Industry and Information Technology (since 2008, the National Development and Reform Commission The system was transferred to the Ministry of Industry and Information Technology to jointly issue the “Management Measures for Special Funds for SME Developmentâ€, which stipulates that special funds are mainly used to support the structural adjustment, professional development, technological progress, brand building, and SME credit guarantee system for SMEs. etc. In April 2014, the Ministry of Finance, together with the Ministry of Industry and Information Technology, the Ministry of Science and Technology, and the Ministry of Commerce, integrated various types of support funds for SMEs into special funds for SME development, and the scope of support changed from “point†to “faceâ€. Improve small business clusters, improve technology and enterprise upgrade services, improve information services and operational monitoring, improve the training service environment, and support and guide various guarantee institutions to provide loan guarantee services for SMEs. In July 2015, the support method and scope of support for SME development special funds were adjusted once again, and the support direction was adjusted to support the demonstration work of small and micro enterprise entrepreneurship innovation base cities. For a long time, special funds for SME development have played an important role in improving the service system, improving the financing environment, supporting the restructuring and optimization of SMEs, and promoting entrepreneurial innovation. In the next step, along with the promulgation and implementation of the new promotion law, the Ministry of Industry and Information Technology and the relevant departments of the Ministry of Finance, in conjunction with the relevant provisions and spirit of the new law, will conduct further research on the support priorities and use methods of special funds for SME development, so that special funds can Promote the promotion of SME development more effectively.
Strengthening the guidance and development of the SME Development Fund as a market-oriented means of supporting the development of SMEs, and gradually playing an increasingly important role. Since the approval of the State Council in 2015, the National SME Development Fund has successfully established four physical funds and started to operate, with a total scale of 19.5 billion yuan, of which the central government invested 4.8 billion yuan. In the new promotion law of this revision, on the one hand, the nature and operation of the SME Development Fund have been supplemented and refined, stipulating that “National SME Development Fund should follow the principle of policy orientation and market operation, mainly used for Guide and promote social funds to support start-up SMEs and promote entrepreneurial innovation, and provide clear legal guidance for the operation and development of SME development funds in the coming period. On the other hand, the new promotion law has also added provisions for “local governments at all levels above the county level to establish SME development fundsâ€, by providing legislative guarantees to encourage local governments to set up funds to promote the development of local SMEs and promote the formation of national funds and The good development trend of local funds linkage. As of August 31, 2017, the National Fund for SME Development Fund has completed 91 investment projects with an investment amount of 2.467 billion yuan. The investment project covers a wide range of industries, covering all regions of the country, taking into account investment in projects in underdeveloped areas, and promoting the establishment of local SME development funds in Sichuan, Henan, Hebei, Qinghai, Gansu, Yunnan, Xinjiang and other regions. The situation of joint development and linkage development between the national and local SME development funds. In the next step, the National SME Development Fund will focus on the growth of small and medium-sized enterprises in the seed period and the initial stage in accordance with the requirements of the new promotion law, and provide more effective support for promoting the innovation and development of small and medium-sized enterprises. Strengthening tax incentives and support In recent years, the state has attached great importance to stimulating the vitality of mass entrepreneurship and innovation, and improving the development environment for small and medium-sized enterprises. It has introduced a series of inclusive tax incentives, including the reduction of income tax on small and micro enterprises, and the improvement of the value-added tax threshold. Helping SMEs reduce taxes and fees. In this revised new promotion law, some of the current tax incentives have been raised to the law, such as the “national implementation of tax policies conducive to the development of small and micro enterprises, and the reduction and exemption of eligible small and micro enterprises in accordance with regulations. Measures such as corporate income tax and value-added tax will simplify the tax collection and management procedures and reduce the tax burden of small and micro enterprises. At the same time, functional tax support regulations will be added. In terms of entrepreneurial support, college graduates, veterans and unemployed people, disabled people, etc., set up small and micro-enterprises to enjoy tax incentives and fee reductions in accordance with state regulations. Where venture capital enterprises and individual investors invest in the initial technological innovation enterprises, they shall enjoy tax benefits in accordance with state regulations. In terms of innovation support, the fixed assets of small and medium-sized enterprises need to accelerate depreciation due to technological advancement and other reasons. The depreciation period can be shortened according to law or accelerated depreciation methods can be adopted. The state improves the research and development costs of small and medium-sized enterprises and deducts policies to support technological innovation in small and medium-sized enterprises. By raising the above-mentioned tax incentives into legal provisions, the long-term and sustainable nature of relevant policies has been clarified at the legal level, and targeted institutional arrangements have been made, which is important for cultivating market players and creating new development kinetic energy. The practical effect and long-term significance. The revised SME Promotion Law was revised and promulgated 15 years after the promulgation of the original law, fully demonstrating that the state attaches importance to and supports the development of small and medium-sized enterprises in many aspects. The Ministry of Industry and Information Technology will work with relevant departments to integrate new SMEs. The promulgation and implementation of the Promotion Law, actively carry out relevant work, conscientiously implement various national fiscal and taxation support policies, and provide more assistance to promote the development of small and medium-sized enterprises. (Submission from the Ministry of Industry and Information Technology Bureau)
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