News:In order to promote the development of publicity and cultural undertakings, the Ministry of Finance and the State Administration of Taxation recently jointly issued an announcement to continue to implement the preferential value-added tax policy for publicity and culture, and to support the high-quality development of the cultural industry with real money and silver support. The implementation of the policy has further activated the development momentum of Jiangsu cultural enterprises.

  Value-added tax accounts for a large proportion of corporate tax expenditures. This policy clearly states that the VAT exemption for book wholesale and retail will be extended until December 31, 2027, bringing benefits to related enterprises. This unique bookstore located in Xinjiekou, Nanjing, is a new type of bookstore built by Popular Bookstore. Its open reading space and fragrant coffee attract many consumers to check in. As a book distribution company, Popular Bookstore can enjoy this policy and save 3-4 million yuan in taxes every year, which provides them with real financial support to accelerate the innovation and exploration of physical bookstores. "These tax incentives provide real help. Popular Bookstore has been opening new bookstores in recent years, mainly new community bookstores. At the same time, we will also use this part of the funds to increase the income of employees and increase the number of our entities. As a semi-public welfare enterprise, bookstores have the confidence to innovate and develop sustainably," said Zhang Jie, director of the Cultural Industry Group Office of Jiangsu Dazhong Bookstore.

  Also benefiting from this policy for cultural enterprises is Jiangsu Post. Last year, their sales of key government books reached hundreds of thousands, and they enjoyed a tax discount of over one million yuan. Gao Min, deputy director of the Jiangsu Provincial Newspaper and Periodicals Distribution Bureau of China Post Group Co., Ltd., told reporters: "The tax and fee concessions we enjoy will be used for the construction of urban 'honest newsstands', charity reading activities, school assistance in relatively weak economic areas, etc. We We will also actively increase operational investment, continuously improve service quality, and promote the expansion of the scope of issuance services."

  In addition, the policy also proposes that before December 31, 2027, 100% of the value-added tax on publications such as newspapers and periodicals published and distributed specifically for children and the elderly, as well as student textbooks for primary and secondary schools, will be levied first and then refunded. For other types of books, periodicals, audio-visual products, and electronic publications, 50% of the value-added tax is collected first and refunded during the publishing process. With the help of preferential policies, the province's cultural industry showed a recovery and good development trend in the first three quarters of this year. The total assets of the province's 10,896 cultural enterprises above designated size reached 2.8 trillion yuan, with operating income of 954.75 billion yuan and total profits of 44.07 billion yuan. Core cultural fields, new cultural industries, and cultural service enterprises all showed rapid growth.