Author(s)

Yuanyuan Liu

Corresponding Author

Yuanyuan Liu

Abstract

In 2019, our government heavily modified VAT policies. Specific measures include tax rate reduction, expanding the scope of input tax deduction, allowance for one-time deduction in real estate input tax and refund of incremental retained tax. This paper mainly studies the significance, functions and impacts of these policies on enterprises.

Keywords

Value added tax, tax reduction, input VAT, refund incremental retained tax.