Q:
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What are the current preferential policies?
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A:
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On May 13, the Ministry of Finance and the National Film Administration jointly issued Announcement No. 26, "Announcement on the Policy of Temporary Exemption from the Collection of Special Funds for the Development of the National Film Industry" (hereinafter referred to as "Announcement 26");
On May 14th, the Ministry of Finance and the State Administration of Taxation jointly released the "Announcement on Tax and Fee Support Policies for Movies and Other Industries" (Ministry of Finance and General Administration of Taxation Announcement No. 25 of 2020, hereinafter referred to as "Announcement 25"). It is clear that from January 1, 2020 to December 31, 2020, taxpayers will be exempted from VAT and other preferential policies on income obtained by providing film screening services.
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Q:
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What preferential policies does Announcement 26 have?
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A:
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From January 1, 2020 to December 31, 2020, Hubei Province is exempted from special funds for national film development; Other provinces, autonomous regions and municipalities directly under the Central Government are exempted from special funds for national film development from January 1, 2020 to August 31, 2020.
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If the conditions for exemption specified in this announcement are met, but the payer has paid before the date of this announcement, the special fund for the development of the national film industry that the payer should pay in the following month can be offset or refunded.
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Q:
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What preferential policies does Announcement 25 have?
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A:
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From January 1, 2020 to December 31, 2020, the income from taxpayers who provide film screening services will be exempt from VAT;
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For the losses incurred by film industry companies in 2020, the maximum carry-over period will be extended from 5 years to 8 years;
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From January 1, 2020 to December 31, 2020, cultural construction fees will be exempted.
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Q:
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What does the movie screening service mean?
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A:
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Refers to the unit that holds the "Film Projection Business License" and uses professional cinema projection equipment to provide movie viewing services to the audience.
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Q:
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What are the film industries companies?
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A:
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Enterprises in the film industry are limited to companies such as film production, distribution, and screening, excluding companies that disseminate films through information networks such as the internet, telecommunications networks, and broadcast and television networks.
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Q:
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What is the special fund for the development of the national film industry?
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A:
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The fund was established in accordance with the "Film Management Regulations" promulgated by the State Council, and at the same time, according to the "Measures for the Special Fund Management of the Film Industry", the box office revenue of movie cinemas in counties and above was levied at a rate of 5%.
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