Tax policy promotes the development of children's wear industry
In August of this year, the China Tangpu Children's Wear Festival was held as scheduled in Tangpu Town, Shangyu City, Zhejiang Province. Since the beginning of the year, the production and sales situation of Tongpu's children's wear industry has been very prosperous. The influence of the children's clothing industry has increased year by year, and the market share has expanded and the competitiveness has increased. As of the end of July, the number of children’s wear enterprises has grown to over 460, achieving sales of more than 800 million yuan, an increase of 40% year-on-year, and tax revenues of 235,000 yuan, an increase of only 9.4% year-on-year. The increase in tax revenue is far below the growth in output value. Financial incentive policies and tax incentives act as a powerful driver behind the market boom.
The first is to effectively reduce the tax burden on the industry. We have approved the tax payable for the children's wear industry, and promoted the preferential tax burden to affiliated companies that are centered on the children's wear industry, including computer graphics, clothing press printing, embroidery, weaving, cloth, and garment support materials.
The second is the implementation of tax incentives. For the children's clothing enterprises that have settled in the standard factory building, the tax refund policy for the remaining part of the city shall be implemented. The purchase of factory buildings shall be rewarded in full for the first three years, half for the following two years, and for the lease of the factory buildings, full reward will be given within three years.
The third is to explore the feasibility of separating and developing the service industry. Analyze the business structure of the leading companies in the operating industry, and guide the large-scale garment industry enterprises to separate and develop modern logistics service companies and children's clothing R&D and design centers, and timely fulfill financial incentive policies to add new impetus to fostering new tax sources.
The fourth is to guide the development of diversified industrial operations. Using the scale effect of the accumulation of children's clothing enterprises, we will build an OEM production order center, a quality inspection brand management service center, a hotel club business center, a catering leisure and fitness center, and gradually form an industry leader based on children's clothing manufacturing clusters and diversified development.
The fifth is to provide personalized tax services. The special lectures on taxation and preferential policies for the children's wear industry were organized in a timely manner. The taxpayer clubs for the children's wear industry were organized to train children's clothing industry accounting and other activities to provide taxpayers with high-quality personalized services.
The first is to effectively reduce the tax burden on the industry. We have approved the tax payable for the children's wear industry, and promoted the preferential tax burden to affiliated companies that are centered on the children's wear industry, including computer graphics, clothing press printing, embroidery, weaving, cloth, and garment support materials.
The second is the implementation of tax incentives. For the children's clothing enterprises that have settled in the standard factory building, the tax refund policy for the remaining part of the city shall be implemented. The purchase of factory buildings shall be rewarded in full for the first three years, half for the following two years, and for the lease of the factory buildings, full reward will be given within three years.
The third is to explore the feasibility of separating and developing the service industry. Analyze the business structure of the leading companies in the operating industry, and guide the large-scale garment industry enterprises to separate and develop modern logistics service companies and children's clothing R&D and design centers, and timely fulfill financial incentive policies to add new impetus to fostering new tax sources.
The fourth is to guide the development of diversified industrial operations. Using the scale effect of the accumulation of children's clothing enterprises, we will build an OEM production order center, a quality inspection brand management service center, a hotel club business center, a catering leisure and fitness center, and gradually form an industry leader based on children's clothing manufacturing clusters and diversified development.
The fifth is to provide personalized tax services. The special lectures on taxation and preferential policies for the children's wear industry were organized in a timely manner. The taxpayer clubs for the children's wear industry were organized to train children's clothing industry accounting and other activities to provide taxpayers with high-quality personalized services.