Research On Improving Value-added Tax Policy Of China’s Renewable Resources Industry

September 2020,at the 75th UN World Assemblies,Xi Jinping made the solemn recommendation,China should work to achieve a peak in CO₂emissions by 2030,and strive to meet the vision of CO₂neutral consumption by 2060.High quality economic expansion is inevitable while trying to reduce CO₂intensity.Renewable industry,as a strategic emergent industry and a vital part of the circular economy development,can effectively alleviate the severe environmental concerns and thus plays an essential function in the creation of a"material-saving and eco-friendly"culture.The impact of taxation policy as a macroeconomic means of control can effectively support the development of recycled resources industrial industry,and the function of this policy is good and flexible.Moreover,the development of the regenerative energy industry depends largely on the content and the form form of the VAT policy.In-depth analyze the impact brought by VAT policy to the renewable resources industry is conducive to further optimize VAT policy and promote the modernized social and ecological civilization construction.Based on the research findings of predecessor organizations,firstly,using public supply theory and circulatory economics theory as the foundations of the study,this paper was therefore a first one to present both positive for and negative for tax incentives on the development of resource renewal industry.It is followed by Analyzing the changes in the last 30 years of VAT as well as analyzing the state of affairs of in the industry with respect to their different evolutionary developments.Then,the paper selects data from 2006 to 2019 based on the above studies including three Historical stages of VAT policy changes,and carries out a statistical situation analysis of the VAT burden on the renewable resources industry in China as a whole and in the east,central and west.The VAT affects on the resource recycling industry are described and analyzed.Highlighted the issues of the prevailing VAT policy for the renewable resources industry and valuable experience is provided for establishing and improving the VAT system for the resource recycling industry in China.Basing for above analysis,the author puts out three suggestions for VAT policy of recycling industry as follows:First,develop scientific VAT polices,including legalizing VAT laws and enlarge the reach of tax privileges;Second,improve VAT deduction chain,which can be done by stepping up the normative of inventories and enhance the inner control regime of the industry;Third,concretely design concessionary VAT policies,such as introducing different scales of prompt refund policies and designing regional value-added tax preferential policies.