Source: China Securities Journal - CSI network
SMM news: December 25th, the environmental protection law twelve twenty-fifth meeting of the NPC Standing Committee voted through, which is China's first single tax laws to promote the construction of ecological civilization, will come into force on January 1, 2018. The adoption of the environmental protection tax law, starting from the tax lever, so that companies will pay more taxes on the sewage, sewage can enjoy tax relief.
Analysts believe that tax revenues will increase sharply after levying environmental tax, environmental tax levied each year is expected to scale up to 50 billion yuan, environmental monitoring, water and solid waste sector will be the first to benefit.
Forced enterprises to cut emissions
As one of the highlight of this round of tax reform of environmental tax, significantly speeding up the process of legislation. In June last year, after a public comment on the draft legislation, in August 29th this year, the first consideration of the NPC Standing Committee, the NPC Standing Committee for the two time in December 20th.
It is reported that, in accordance with the principle of legislation, environmental tax is a tax shift from the sewage charges "," translation "to the environmental tax levied on all existing sewage charges and consistent, levied for atmospheric pollutants, water pollutants, solid waste and noise.
Wang Qing, deputy director of the NPC Standing Committee, deputy director of the economic law office, compared to the previous sewage charges system, there are two main environmental protection law. First, the amount of air pollutants and water pollutants. To 10 times the limit, the air pollution is equivalent to 1.2-12 yuan per pollution, water pollution is equivalent to 1.4-14 yuan per pollution. Two is based on the reduction of the rate of increase in a file tax relief provisions, that is, the amount of taxpayers taxable air pollutants or water pollutants concentration value is lower than the prescribed standard of 30%, minus the environmental protection tax levied by 75%.
Director of the Ministry of Finance Tax Secretary Wang Jianfan said that the current financial system, sewage charges is the implementation of the central and local 1 to 9 into, considering the local governments bear the primary responsibility for pollution control, environmental protection tax will be after all as the local income, no longer participate into the central.
The environmental protection law, will start from the tax lever to make the enterprise more sewage will pay more, less sewage can enjoy tax relief, through the transformation of the construction to promote the adjustment of economic structure and development mode of the green tax system, the formation of effective incentive mechanism, forced corporate emissions.
Environmental monitoring, water sector benefit
Experts believe that the environmental tax to the sewage tax as the lower limit, a substantial increase in the intensity of expropriation, environmental tax revenue will be significantly improved. Data show that, 2003-2015, the country's total sewage charges levied 211 billion 599 million yuan, of which 2015 sewage charges levied $17 billion 300 million. According to Central University of Finance and Economics estimates, after the introduction of environmental taxes, environmental protection tax is expected to scale up to 50 billion yuan per year.
Sealand securities analyst believes that the tax will encourage enterprises to take the initiative to pursue energy-saving emission reduction, increase investment in environmental protection, improve the technical level, the elimination of backward production capacity, to achieve the transformation of economic structure; environmental tax levy will provide adequate funds for investment in environmental protection, but also for environmental governance to provide financial support.
Analysts believe that, after the implementation of the environmental protection tax, the environmental protection industry will benefit. Among them, the first direct benefit is the environmental monitoring sector, because the tax to the monitoring data, need to install monitoring equipment or the third party monitoring service, test and other leading companies concern; secondly, environmental taxes forced enterprises to control pollution, good industrial wastewater treatment prospects, originwater concern; finally, a large amount of solid waste generated hazardous waste collection, high tax, environmental tax levy solid waste sector is expected to exceed expectations, Jinyuan shares, Dongjiang environmental benefit etc..