Tax relief for SMEs is a global trend

InChina, the SME financing difficulties and high taxes have raised great concern. A plan to solve the financing difficulty and the high tax of the micro-enterprises will be soon carried out. Actually, to reduce the tax burdens on the SMEs has become an international trend.

SMEs have made outstanding contributions to employment and economic growth, but they have been suffering heavy tax burdens. Data show that there are 40 million SMEs inChina, accounting for 99% of total number of enterprises and contributing 60% ofChina's GDP, 50% of the tax and 80% of urban employment. According to preliminary statistics, at present, 18 sectors impose administrative fees on SMEs, divided into 69 categories and thousands of sub-projects.

?Therefore, in order to allow SMEs to be able to live, in addition to solve the financing problem, the most important thing is to reduce production costs for SMEs and tax costs.

This is in line with international trends. After financial crisis, all countries are taking concrete measures to effectively curb the notes foam, supporting the country's industrial development. Among them, micro and small enterprises are the main objects of national government's support, because they are good medicines to solve unemployment, to reduce the frequency of activities such as the occupation of unemployed of Wall Street and London, so there is hope only as long as people have a job, therefore, they can enter into the enterprise to create profits, rather than take part in street activities. Therefore, all the countries are now focusing on the industrial development of small and medium enterprises.

Many people worry that a large number of loans have been tilt to the large enterprise groups and public projects to support the many inefficient investments, while many SMEs which are in need of funds to support the efficient and economic development of have come up with the financing and loaning difficulties, and they have to borrow a lot of credit from private bodies. However, this is not the key to the problem. The key lies in the credit structure. Therefore, there are new trends in the recent central banks that they may cut the reserve. This is equivalent to the correcting policy for the early. It is hoped that his fine-tuning can make greater access to corporate entities.

Financial founding lost will inevitably lead to the loss of credit, which is the greatest wealth theJapanand US lessons have brought to the world's. Finance is important, however, the purpose of financial is to intermediate funds and offer services to industries and to the financing of SMEs, and then enable them to access to legitimate profit. However, if the financial capital has become the master of all and continues to absorb the labor and the wealth of entrepreneurs, it can only lead to financial crises frequently.?

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