The Corporate Income Tax Law first amended whether the tax rate will be lowered into focus.

After 10 years, the Corporate Income Tax Law will usher in the first revision after its official implementation in 2008.
The twenty-sixth meeting of the Standing Committee of the 12th National People's Congress to be held on February 22 will review the State Council's proposal to submit a draft amendment to the Corporate Income Tax Law (hereinafter referred to as the “Amendment of the Corporate Income Tax Law”).
As the second largest tax in China, the total income of corporate income tax in 2016 reached 288.5 billion yuan. As it involves taxpayers of 10 million enterprises, this amendment has received much attention. One of the focuses is whether the tax rate will be adjusted. However, the official has not yet confirmed that the revision of the corporate income tax law will reduce the tax rate.
The Corporate Income Tax Law was approved by the National People's Congress in March 2007 and will take effect on January 1, 2008. Corporate income taxpayers are companies that earn income in China, with a tax rate of 25%, and preferential tax rates for small and micro enterprises and high-tech enterprises.
Corporate income tax is currently the second largest tax, second only to domestic value-added tax revenue. According to the Ministry of Finance, the total corporate income tax income in 2008 was 1,117.5 billion yuan, and by 2016 this figure was 288.5 billion yuan.
In recent years, China's economic downturn has been relatively high, and corporate profits have declined significantly. In order to reduce the burden on enterprises, the current government launched a large-scale tax reduction and fee reduction measures. The comprehensive business tax introduced in May 2016 changed the value-added tax of the whole year by more than 500 billion yuan, and the reduction of social security rates in stages also reduced the company's revenue by 100 billion yuan. yuan.
At the National Financial Work Conference at the end of 2016, Minister of Finance Xiao Jie proposed to continue the implementation of the tax reduction and fee reduction policy, one of which is to study and implement new tax reduction measures.
Liu Jianwen, a professor at Peking University Law School and president of the China Finance and Taxation Law Research Association, analyzed the first financial analysis. In the past 10 years, the economic and social environment at home and abroad has changed. According to the supply-side structural reform, the principle of tax reduction and decentralization for enterprises and the US President Trang With the global tax reduction wave promoted by the tax reduction platform, China’s 25% corporate income tax may be lowered, relevant preferential policies will be further strengthened, and there will be new changes in anti-tax avoidance.
Overall, this corporate income tax revision will reduce the burden on enterprises and promote the healthy development of enterprises. Liu Jianwen believes that the current 25% tax rate of corporate income tax can be considered to be reduced to about 22%.
Yang Zhiyong, a researcher at the Institute of Finance and Economics of the Chinese Academy of Social Sciences, told the First Financial Reporter that in recent years, the fixed assets accelerated depreciation corporate income tax policy, multilateral tax collection and contracting and national anti-tax avoidance may also be reflected in the amendments to the Corporate Income Tax Law.
Liu Jianwen also believes that corporate income tax deductions such as corporate expense deductions and accelerated depreciation of fixed assets will be further strengthened. In recent years, after China signed tax treaties with other countries, there are also new initiatives in international anti-tax avoidance, which may be reflected in the amendments to the Corporate Income Tax Law.
At the end of 2015, the leaders of the Group of 20 (G20) formally approved the final plan of the Tax Erosion and Profit Transfer (BEPS) project issued by the Organization for Economic Cooperation and Development, and more than 60 major countries including China participated in the program. The BEPS project aims to revise international tax rules, curb multinational corporations' evasion of global tax obligations, and erode national tax bases, marking a fundamental change in the international tax rules system for a century.
In order to implement the 15 action plans of BEPS, China has begun to revise the regulations including the Tax Administration Law and the supporting documents for the implementation of special tax adjustment procedures, and the revision of the Enterprise Income Tax Law is also considered.
Liu Jianwen told reporters that if the amendments to the Corporate Income Tax Law are highly unified, they may be passed once. If the content is controversial, it needs to be reviewed again. It is estimated that the corporate income tax amendment will be passed during the year.

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