On December 19, 2011, the Chinese government's website published the full text of the “Opinions of the General Office of the State Council on Strengthening the Construction of Fresh Agricultural Product Circulation System†promulgated by the General Office of the State Council, proposing to improve the taxation policy for agricultural product circulation and exemption from VAT on vegetable circulation.
On December 22, 2011, the Ministry of Commerce, the National Development and Reform Commission, the Ministry of Agriculture, the Ministry of Finance, the Ministry of Land and Resources, the State Administration of Taxation, and the General Administration of Supply and Marketing jointly held a meeting to implement the "General Office of the State Council on Strengthening the Construction of the Circulation System of Fresh Agricultural Products. "Opinions", research and deployment will further strengthen the construction of a circulation system for fresh agricultural products.
On December 25, 2011, Minister of Finance Xie Xuren explained the roadmap for improving the structural tax cuts in 2012, stating that VAT will be exempted for the wholesale and retail of vegetables.
For retailers, the country’s tax cuts proposed at the end of 2011 appear to have injected a dose of strength into the retail industry.
“This is a concrete and favorable decision taken by the country in the agricultural super-convergence policy.†In this regard, Dr. Hu Dingxiang of the Institute of Agricultural Development of the Chinese Academy of Agricultural Sciences said that with the advancement of the government in tax reduction policies for agricultural products, it will make agricultural super. Some barriers in the docking have gradually been solved.
However, when is the tax exemption policy officially implemented? How much will the retailer benefit from it? Is it true, as experts have said, whether this can be a move to promote the continued deepening of the Super League?
Tax Free New Deal Pointing Vegetables
Although the policy has not yet been specifically implemented, some retail companies are already considering how to use the preferential policies to adjust their operations.
“It has been difficult for supermarkets to make fresh products for profitability. The key point is that they must pay a 13% value-added tax (VAT). With the large loss of the products themselves, the difficulty in earning profits naturally increases.†Zhu Xiaobin, general manager of Marketing Center of Qingdao Weike Group, told According to the reporter, as supermarkets have direct purchases in the procurement of vegetables and other agricultural products, or through a variety of modes such as purchasing by middlemen, the tax exemption policy will have a greater significance for the adoption of an intermediary model.
This point was also approved by Zhang Daibin, director of fresh procurement of Yonghui Supermarket. “This impact on our business is not great.†Zhang Daibin told reporters that in terms of procurement model, Yonghui Supermarket’s direct adoption ratio in fresh production is about 80%, as the farmers and cooperatives that connect with Yonghui can basically provide Duty-free invoice proofs have enabled Yonghui to actually enjoy the preferential treatment of VAT exemption for some agricultural products.
In this regard, the Wumei Supermarket Director of Purchasing Zhangwang Bo said that Wumei's direct consumption of fresh products in the proportion of 70% or more, but due to the current localities in the implementation of the tax policy is not uniform, so that Wumei in some provinces did not enjoy the direct mining VAT benefits, but the direct mining projects in Shandong are still good. "After the implementation of VAT exemption for vegetables and other agricultural products, some commodities purchased through middlemen will also reduce costs."
Regarding the exemption of value-added tax policy for agricultural products, Hu Dingxi thinks that this is a recognition of the government for the supermarket industry. “The Shangchao industry occupies more than 70% of the resources for agricultural product sales terminals, but not only has it had to pay a higher shopping environment cost than the wholesale market, but also has to pay 13% of value-added tax for agricultural products.†Hu Dingxi said that the tax policy The good news will be an important factor in the development of the Shangchao industry in 2012 and the deepening of the agricultural supermarket.
In fact, a considerable number of retailers are also very much looking forward to the new policy of tax cuts. At the chain conference held in November 2011, Guo Geping, president of the China Chain Store & Franchise Association, revealed that the country will be exempted from value-added tax on vegetable circulation and sales in 2012.
At the time, Lu Chengsheng, chairman of Jingong Supermarket, told reporters that this was one of the most exciting news for him on that day. “Next, Jingong Supermarket will seriously study how to adjust the structure of the store’s merchandise and make full use of this favorable policy. â€
Help break the barrier
Regardless of whether it is for circulation or retail terminal manufacturers, the 13% VAT exemption for vegetable products will directly reduce the sales price of vegetables.
“For example, for a medium-sized store with a 4000-square-meter area, the average daily sales of vegetable products will be between 30,000 and 50,000 yuan, and the monthly sales will be around 1 million yuan. According to the 13% VAT, it should be reduced. More than ten million yuan cost." Zhang Daibin counted such an account.
However, in fact, many companies have already obtained preferential VAT exemption through direct procurement. The supermarket owner Wang Aiping told the reporter that the VAT exemption for vegetables on the one hand is conducive to the reduction of the overall cost of fresh food products for supermarket companies, thereby stimulating the expansion of the store's fresh produce scale, and in addition, it has also increased farmers' objectively. The scale of super docking work will also ultimately benefit consumers.
At present, the collection of VAT on the sale of agricultural products is mainly based on the relevant provisions of the "Provisional Regulations of the People's Republic of China on Value-added Tax" and is divided into four categories:
Self-produced agricultural products sold by agricultural producers are exempt from value-added tax; self-employed households selling agricultural products that do not reach the threshold are exempted from value-added tax; and VAT general taxpayers who sell agricultural products (annual sales of agricultural product processing enterprises reach more than 500,000 yuan, Annual sales of commercial enterprises will reach 800,000 yuan or more.) Tax rates will be levied at 13%; small-scale taxpayers selling agricultural products (annual sales of agricultural products processing enterprises will be less than 500,000 yuan, and annual sales of commercial enterprises will be less than 800,000 yuan). Execute a 3% levy rate.
In this regard, Professor Chen Liping of the Capital University of Economics and Trade believes that the state's policy on the reduction of VAT on vegetables and other agricultural products is, on the one hand, to continue to increase the docking of agricultural supermarkets and to speed up circulation of agricultural products. In addition, through circulation, retail, etc. The policy preferences at the link will, to a certain extent, increase the enthusiasm of retail enterprises for selling agricultural products, and ultimately enable the price of agricultural products to be sold down to solve the people’s livelihood problem of “food, vegetables, and vegetables, and vegetables and injuriesâ€.
There is no clear timetable
The current situation is that all major ministries and commissions are actively implementing the state's policy on strengthening the construction of circulation systems for fresh agricultural products, but the relevant departments have not made clear a timetable for the implementation of the policy.
“Our company has not received notification from the relevant department regarding the VAT exemption for vegetable products. The key to the problem now is when to implement it.†Zhu Xiaobin said that from a policy point of view, this has a very good effect on the development of retail enterprises. However, it will take some time to implement the estimates on the ground.
From the policy point of view, the VAT exemption for vegetables is one aspect of the country's implementation of numerous tax reduction policies in 2012, and the General Office of the State Council issued the policy in the form of “opinions†to all major relevant ministries and commissions. "For the specific implementation of the policy, the relevant departments will also proceed in a statutory order." Some in the industry believe that the same is true for the VAT exemption of vegetables, which requires the Ministry of Finance to implement it, and then it involves the implementation of relevant departments such as the National Taxation Bureau. Therefore, it is still a question of when to land.
"The policy was just introduced and discussions on vegetable VAT exemption started in the Weifang region. The focus of the issue is when it can be implemented." The purchasing director of a local company in Weifang, Shandong Province, told reporters that due to Shandong itself It is the large province of production and circulation of fruits and vegetables. The exemption of value-added tax means that, for fruit and vegetable producers, middlemen, and terminals, it means a greater reduction in costs.
In fact, most commercial supermarkets have already achieved partial exemption of tax increases on agricultural products through various forms of procurement such as agricultural super-docking and direct-base mining, and when this policy on vegetable VAT exemption can be implemented uniformly throughout the country Can it further break the barriers in the docking process? It is worth our looking forward to.
On December 22, 2011, the Ministry of Commerce, the National Development and Reform Commission, the Ministry of Agriculture, the Ministry of Finance, the Ministry of Land and Resources, the State Administration of Taxation, and the General Administration of Supply and Marketing jointly held a meeting to implement the "General Office of the State Council on Strengthening the Construction of the Circulation System of Fresh Agricultural Products. "Opinions", research and deployment will further strengthen the construction of a circulation system for fresh agricultural products.
On December 25, 2011, Minister of Finance Xie Xuren explained the roadmap for improving the structural tax cuts in 2012, stating that VAT will be exempted for the wholesale and retail of vegetables.
For retailers, the country’s tax cuts proposed at the end of 2011 appear to have injected a dose of strength into the retail industry.
“This is a concrete and favorable decision taken by the country in the agricultural super-convergence policy.†In this regard, Dr. Hu Dingxiang of the Institute of Agricultural Development of the Chinese Academy of Agricultural Sciences said that with the advancement of the government in tax reduction policies for agricultural products, it will make agricultural super. Some barriers in the docking have gradually been solved.
However, when is the tax exemption policy officially implemented? How much will the retailer benefit from it? Is it true, as experts have said, whether this can be a move to promote the continued deepening of the Super League?
Tax Free New Deal Pointing Vegetables
Although the policy has not yet been specifically implemented, some retail companies are already considering how to use the preferential policies to adjust their operations.
“It has been difficult for supermarkets to make fresh products for profitability. The key point is that they must pay a 13% value-added tax (VAT). With the large loss of the products themselves, the difficulty in earning profits naturally increases.†Zhu Xiaobin, general manager of Marketing Center of Qingdao Weike Group, told According to the reporter, as supermarkets have direct purchases in the procurement of vegetables and other agricultural products, or through a variety of modes such as purchasing by middlemen, the tax exemption policy will have a greater significance for the adoption of an intermediary model.
This point was also approved by Zhang Daibin, director of fresh procurement of Yonghui Supermarket. “This impact on our business is not great.†Zhang Daibin told reporters that in terms of procurement model, Yonghui Supermarket’s direct adoption ratio in fresh production is about 80%, as the farmers and cooperatives that connect with Yonghui can basically provide Duty-free invoice proofs have enabled Yonghui to actually enjoy the preferential treatment of VAT exemption for some agricultural products.
In this regard, the Wumei Supermarket Director of Purchasing Zhangwang Bo said that Wumei's direct consumption of fresh products in the proportion of 70% or more, but due to the current localities in the implementation of the tax policy is not uniform, so that Wumei in some provinces did not enjoy the direct mining VAT benefits, but the direct mining projects in Shandong are still good. "After the implementation of VAT exemption for vegetables and other agricultural products, some commodities purchased through middlemen will also reduce costs."
Regarding the exemption of value-added tax policy for agricultural products, Hu Dingxi thinks that this is a recognition of the government for the supermarket industry. “The Shangchao industry occupies more than 70% of the resources for agricultural product sales terminals, but not only has it had to pay a higher shopping environment cost than the wholesale market, but also has to pay 13% of value-added tax for agricultural products.†Hu Dingxi said that the tax policy The good news will be an important factor in the development of the Shangchao industry in 2012 and the deepening of the agricultural supermarket.
In fact, a considerable number of retailers are also very much looking forward to the new policy of tax cuts. At the chain conference held in November 2011, Guo Geping, president of the China Chain Store & Franchise Association, revealed that the country will be exempted from value-added tax on vegetable circulation and sales in 2012.
At the time, Lu Chengsheng, chairman of Jingong Supermarket, told reporters that this was one of the most exciting news for him on that day. “Next, Jingong Supermarket will seriously study how to adjust the structure of the store’s merchandise and make full use of this favorable policy. â€
Help break the barrier
Regardless of whether it is for circulation or retail terminal manufacturers, the 13% VAT exemption for vegetable products will directly reduce the sales price of vegetables.
“For example, for a medium-sized store with a 4000-square-meter area, the average daily sales of vegetable products will be between 30,000 and 50,000 yuan, and the monthly sales will be around 1 million yuan. According to the 13% VAT, it should be reduced. More than ten million yuan cost." Zhang Daibin counted such an account.
However, in fact, many companies have already obtained preferential VAT exemption through direct procurement. The supermarket owner Wang Aiping told the reporter that the VAT exemption for vegetables on the one hand is conducive to the reduction of the overall cost of fresh food products for supermarket companies, thereby stimulating the expansion of the store's fresh produce scale, and in addition, it has also increased farmers' objectively. The scale of super docking work will also ultimately benefit consumers.
At present, the collection of VAT on the sale of agricultural products is mainly based on the relevant provisions of the "Provisional Regulations of the People's Republic of China on Value-added Tax" and is divided into four categories:
Self-produced agricultural products sold by agricultural producers are exempt from value-added tax; self-employed households selling agricultural products that do not reach the threshold are exempted from value-added tax; and VAT general taxpayers who sell agricultural products (annual sales of agricultural product processing enterprises reach more than 500,000 yuan, Annual sales of commercial enterprises will reach 800,000 yuan or more.) Tax rates will be levied at 13%; small-scale taxpayers selling agricultural products (annual sales of agricultural products processing enterprises will be less than 500,000 yuan, and annual sales of commercial enterprises will be less than 800,000 yuan). Execute a 3% levy rate.
In this regard, Professor Chen Liping of the Capital University of Economics and Trade believes that the state's policy on the reduction of VAT on vegetables and other agricultural products is, on the one hand, to continue to increase the docking of agricultural supermarkets and to speed up circulation of agricultural products. In addition, through circulation, retail, etc. The policy preferences at the link will, to a certain extent, increase the enthusiasm of retail enterprises for selling agricultural products, and ultimately enable the price of agricultural products to be sold down to solve the people’s livelihood problem of “food, vegetables, and vegetables, and vegetables and injuriesâ€.
There is no clear timetable
The current situation is that all major ministries and commissions are actively implementing the state's policy on strengthening the construction of circulation systems for fresh agricultural products, but the relevant departments have not made clear a timetable for the implementation of the policy.
“Our company has not received notification from the relevant department regarding the VAT exemption for vegetable products. The key to the problem now is when to implement it.†Zhu Xiaobin said that from a policy point of view, this has a very good effect on the development of retail enterprises. However, it will take some time to implement the estimates on the ground.
From the policy point of view, the VAT exemption for vegetables is one aspect of the country's implementation of numerous tax reduction policies in 2012, and the General Office of the State Council issued the policy in the form of “opinions†to all major relevant ministries and commissions. "For the specific implementation of the policy, the relevant departments will also proceed in a statutory order." Some in the industry believe that the same is true for the VAT exemption of vegetables, which requires the Ministry of Finance to implement it, and then it involves the implementation of relevant departments such as the National Taxation Bureau. Therefore, it is still a question of when to land.
"The policy was just introduced and discussions on vegetable VAT exemption started in the Weifang region. The focus of the issue is when it can be implemented." The purchasing director of a local company in Weifang, Shandong Province, told reporters that due to Shandong itself It is the large province of production and circulation of fruits and vegetables. The exemption of value-added tax means that, for fruit and vegetable producers, middlemen, and terminals, it means a greater reduction in costs.
In fact, most commercial supermarkets have already achieved partial exemption of tax increases on agricultural products through various forms of procurement such as agricultural super-docking and direct-base mining, and when this policy on vegetable VAT exemption can be implemented uniformly throughout the country Can it further break the barriers in the docking process? It is worth our looking forward to.
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