Tax reduction and fee reduction help LED lighting industry upgrade

According to Xinhua News Agency, the smart street lamps jointly developed by Haowei Group of Jiangsu Gaoyou High-tech Zone and Tencent Co., Ltd. were recently put into use at South China University of Technology. This kind of intelligent street lamp can automatically adjust the brightness according to the road traffic, and monitor the weather conditions in the micro area through the network in real time, and find that the fire can also directly alarm in the background.

"This year we expect to enjoy VAT tax cuts of more than 3.5 million RMB, corporate income tax cuts of more than 1.6 million RMB, the burden is light, we will concentrate more resources into research and development, the intelligent lighting module into a 5G communication micro base station." Hao Binghe, chairman of Weiwei Group, said that the upgrade of the smart lighting industry relies on the high-level taxation department to accurately implement various tax reduction and fee reduction policies, and to gather new kinetic energy for the local lighting industry.

Gaoyou High-tech Zone is the hometown of street lighting manufacturing in the country. According to statistics, from January to August 2019, the local tax reduction and reduction of 1,878 lighting and lighting enterprises reached 69.89 million RMB, accounting for 59.05% of the total tax reduction and reduction of Gaoyou High-tech Zone, and the overall tax burden of the lighting industry declined by 1.13%.

After the “slimming” of the tax burden, the Gaoyou lighting companies are more focused on technological innovation and attach importance to R&D investment. In 2017, the proportion of research and development expenses of lighting enterprises in Gaoyou was 7.7% on average, 8.6% in 2018, and 10.4% from January to August 2019.

“The intensive tax reduction and reduction policy provides strong financial support.” Hao Huiding, chairman of Jiangsu Chenghao Electric Group, said, “The company has invested more than 35 million in technology research and development in the past two years and established the research on smart lighting system engineering in Jiangsu Province. The center is seeking a bigger breakthrough."

The data shows that the tax reduction and fee reduction will help the Gaoyou City smart lighting industry to have obvious effects. Up to now, there are 85 high-tech enterprises in Gaoyou High-tech Zone, including 60 lighting companies. From January to August this year, the operating income of industrial enterprises above designated size in the high-tech zone increased by 19.7%, ranking third in the Jiangsu High-tech Zone, achieving a high-tech industry output value of 9.1 billion RMB, accounting for 69% of the industrial output value above designated size.