Local finance in the second half of the year: how to open source and thrift

Under difficulties, local finances are carried out self -rescue in various ways.

Author: Du Tao

Figure: Tuwa Creative

Guide

One || The impact of multiple factors such as the transformation of the real estate market is superimposed, so that the fiscal problems currently faced can no longer be resolved through one department.

来 || For local governments, the direct impact of the decline in land transfer income is not just a reduction in income, but also means that the original stable budget income is gone, which will affect the cash flow of the local government. The reduction of the government time and space is reduced, and the room for deployment will be reduced.

3 || "Open Source Slotting" is actively carried out among governments in various places.

On July 20, Zhang Qiang departed from Beijing to a certain district and county in the south to urge debts. A city in the area invested 300 million yuan in financial institutions from Zhang Qiang in 2016-2017. 200 million yuan has not been repaid, and debt has already expired for 3 years.

Zhang Qiang, the head of a financial institution department, clearly knew that the local government and urban investment were almost having no money in the process of debt collection in the past few years. "Every time I came here, the local urban investment will repay tens of thousands of yuan." But this time, Zhang Qiang found that there was no hope at all. "This urban investment has used employees to use consumer loans to maintain operation. 'Three guarantees' (protecting basic people's livelihood, salary, and transportation pointed out). "

Although Zhang Qiang was not the first time that the local government had maintained operation through consumer loans. This situation basically appeared in the county -level urban investment, which also means that local urban investment and finance have no way.

Zhao Bai, a financial officer in a county in East China, has not been paid for the salary this month, and this is not the first time that the unit has delayed salary.

Local finances are under pressure, and the work of "three guarantees" is facing huge difficulties. A financial officer in a city in East China said, "At present, the source of fiscal stress is facing multiple nature, such as the economic downlink pressure and expectations of the epidemic; the decline in land revenue has fallen significantly;

Under difficulties, local finances are carried out self -rescue in various ways.

A financial officer in a city said that in order to alleviate fiscal pressure, the budget prepared at the beginning of the city was basically abandoned at the beginning of the year, and all other expenses were now recovered except the guarantee of basic expenditure. The expenditure of more than 500,000 yuan requires the approval of the main leaders in the city. Except for personnel wages, rural rejuvenation, epidemic prevention, market entities, ecological environment, public security, and fire protection, all other expenditures are suspended.

In order to solve the problem of income, the city's leaders have repeatedly conducted a meeting to investigate the local income status, including the various subsidies, house purchase subsidies, consumer subsidies, etc., and the impact of calculating tax refund factors. The improvement is mainly due to the impact of reserved tax refund. But at the same time, land revenue continued to decline, and there was still no hope of recovery.

think

Song Ran is the relevant person in the financial department of a certain city. In mid -July, he was responsible for the inspection of the superior regulatory authorities. Regarding the current financial pressure, Song Ran has nothing to hide. Song Ran hopes that the superior regulatory authorities will check more, because many local financial issues are the same as that of 70%of the province's counties and districts, and have commonality, so more inspections can fully expose the problem.

The impact of multiple factors such as the superimposed epidemic in the real estate market has made the fiscal problems currently facing cannot be solved through one department.

In the process of investigation and supervision, Song Ran found some problems. Taking tax refund as an example, some companies were unwilling to choose tax refund, but chose to adjust accounts; on the other hand, some companies had malicious fraudulent tax refund.

Two issues have prompted Song Ran to often think about the "flexibility of policy" in the near future.

Song Ran believes that some bailout companies are not lacking money, but lack of environmental and policy support. This requires understanding where the tax burden of the enterprise is and how to truly reduce the burden on the enterprise?

In his opinion, the problems faced by enterprises mainly come from the conflict between policies. For example, policy introduction has reduced taxes for enterprises, but some environmental inspections have allowed enterprises to face the risk of three months of suspension of business at any time. What does it mean to reduce taxes in this way?

Song Ran said that most of the tax income is now shared tax, that is, the central and local and local sharing VAT and income tax. If the economic vitality of the local government has decreased, the revenue shared by the provincial level will decrease, and the provincial -level regulation ability will also weaken Essence

In addition to the above concerns, Song Ran is still worried about what pressure on the future finances. Taking local debt as an example, the account borrowed when the economic situation is good, and the account borrowed when the local fiscal revenue is sufficient. However, when the economic situation is facing downward, if the debt repayment peak occurs, it will develop into a severe problem. At present, the impact of land transfer income will not be eliminated in the short term, and local income is facing decline, and rigid expenditures cannot be reduced. This is a common phenomenon in the country.

reason

What causes the difficulty of local finance in 2022?

On July 21, a person in the Finance Bureau in a certain place in East China told reporters that leaving tax refund was a big factor. From January to May, the city's tax refund was nearly 9 billion yuan. A economic development zone mainly based on industrial enterprises in the city has a tax refund expenditure of billions of yuan in the first half of the year. Now the "three guarantees" work is difficult. At the beginning of the year, the budget land revenue was 10 billion yuan, and the result was only a hundred billion yuan. The real estate -related tax has dropped by more than 20%. The decrease in real estate taxation accounts for 78%of the revenue reduction. In a county in North China, the land revenue sold for 100 million yuan in the first half of 2022, and the annual budget was 4 billion yuan at the beginning of the year, and the land revenue could be sold to nearly 5 billion yuan at the time of the past.

On July 14, the Ministry of Finance held a press conference in the fiscal revenue and expenditure in the first half of 2022. According to data from the Ministry of Finance, in the first half of 2022, the budget of local government funds budget was 2607 billion yuan, a decrease of 29.7%over the same period last year. Among them, the revenue of state -owned land use rights transfer revenue was 2362.2 billion yuan, a decrease of 31.4%over the same period last year. In the same period last year, in the first half of 2021, the revenue of the state -owned land use right transfer revenue was 344.36 billion yuan. In the same period of 2022, a decrease of nearly 10 trillion yuan.

Among the land and real estate -related taxes, the deed tax was 296.9 billion yuan, a decrease of 28%over the same period last year; the land value -added tax was 392.9 billion yuan, a decrease of 7.7%over the same period last year; It occupied 86 billion yuan, an increase of 34.5%over the same period last year; urban land use tax was 123 billion yuan, an increase of 13.5%over the same period last year.

Land income is an important source of income for local fiscal. Since the second half of last year, after real estate has faced policy adjustments, land transfer revenue has entered a long -term decline. For local governments, land transfer income can effectively supplement financial resources, such as supplementing the gap of general public budgets, can also be used for economic construction expenditures, as well as repaying special bond interest and increasing land revenue for agriculture for agriculture The proportion of rural development and construction, and the decline in land transfer income will cause changes in taxation related to it. Therefore, the importance of land transfer income is self -evident.

In four budgets (general public budgets, government fund budgets, state -owned capital business budgets, and social insurance funds budgets), fund budgets based on land revenue are regulated by local governments. In order to achieve the balance of payments, the fund budget has some some budgets. At the time, it will make it intentionally bigger to reach the balance of revenue and expenditure for budget preparation.

For local governments, the direct impact of the decline in land transfer income is not only a reduction in income, but also means that the original stable budget income is gone, which will affect the cash flow of the local government. The government time and space are reduced and the room for deployment will be reduced.

Self -rescue

"Open source throttling" is actively conducting governments.

In terms of throttling, the salary of working personnel has been suspended and the budget preparation at the beginning of the year has become the main tone. According to the above -mentioned financial bureaus in East China, except for personnel wages, rural rejuvenation, epidemic prevention, market entities, ecological environment, public security, and fire protection, all budgets are suspended, and a single budget must be approved by the main leadership of the government. "It's not a particularly urgent project, the funds are basically not approved."

Zhang Qiang also found that local governments generally rely on path dependence. This is mainly reflected in continuing to plan packaging projects, collect more loan funds through projects, and then misappropriate some funds from the project for financial insurance.

The personnel of a financial bureau in East China told reporters that now all the non -tax fined in the city has no income, which used to return 40%, a fine execution department, such as a fine of 100 yuan, returned 40 yuan. Return. The main purpose is to increase the ability to regulate fiscal and maintain available financial resources.

It is an important part of non -tax income without income. In open source, non -tax has become an important means for organizational income.

Non -tax income mainly includes special income, administrative fees, no income and other income. According to the data released by the Ministry of Finance, the non -tax revenue in the first half of 2022 was 1965.7 billion yuan, an increase of 18%over the same period last year.

During the work, Song Ran found that the proportion of non -tax income in various places in the province was significantly increased, and the income index at the two levels of the city and county rely on non -tax income. At present, most of the non -tax income belongs to the place, and it is not available in the province, and there are fewer sharing in the city.

However, according to its understanding, the province is currently formulating a fiscal institutional mechanism below the province, intending to share non -tax income because it is "to curb the vicious growth of non -tax income."

(Zhang Qiang and Song Ran in the text)

Let state -owned enterprises dare to work, private enterprises, and dare to invest in foreign companies. What is the 100 billion -level real estate bailout fund behind the dare to vote: the rescue project does not save the enterprise to fight the Indian market, and the Chinese mobile legion retreats or guard?

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