Chapter 355 - 176: 2 Years Tax-Free, 3 Years at Half Rate

Chapter 355: Chapter 176: 2 Years Tax-Free, 3 Years at Half Rate

It was nothing more than rehashing what had already been said, having the plants go through the motions once more.

...

Chen Mo didn’t know what was happening back at the company.

But an interview was just an interview. It was nothing special.

It was probably similar to the interviews with Wu Zicong and Tang Tianyu.

You say some very official-sounding things, promote yourself a little, and that’s the end of it.

Meanwhile, Chen Mo and his financial director had arrived at the tax department.

After they found a staff member and explained the purpose of their visit, a specialist was quickly assigned to assist them.

This person was the head of the division in charge of tax incentives.

"Let me take a look at your company’s documents first."

The department head first looked over the materials the financial director had brought.

Tax incentives weren’t handed out arbitrarily. Sometimes, the slightest difference could lead to a vastly different outcome.

For example, take a company that paid 2 million in taxes annually versus one that paid 1 billion.

You could offer the company paying 2 million a fifty-percent reduction or even a full exemption, but could you do the same for the one paying 1 billion?

The gap was simply too vast.

At the very least, it wasn’t a decision someone at his level could make.

"Hmm, your company’s situation is relatively straightforward."

The head quickly scanned the company’s data on revenue, profit, and taxes, and soon had a basic understanding of Panshi Venture Capital’s situation.

It was a small-scale venture capital firm with modest profits and a low tax burden.

Chen Mo, on the other hand, had personally paid quite a bit in taxes this year—even more than the company.

The head then went to his superior’s office to report and returned a few minutes later.

"First, I’d like to thank you, Mr. Chen, for your outstanding contributions to national security. In light of this, our tax department will be granting both you and your company certain tax incentives."

"After a preliminary review and deliberation with our superiors, we have decided to grant Panshi Venture Capital a preferential policy of two years of full tax exemption, followed by three years of a fifty-percent tax reduction."

"For you personally, Chen Mo, we will grant you a tax-exempt allowance of 3 million yuan per year for the next five years."

"Each year, personal taxes up to 3 million yuan will be exempt. You will only be taxed on the amount exceeding 3 million. Any taxes already paid by you or the company can be claimed for a refund by filing on March 1st of the following year."

The head briefly summarized the tax incentives for Chen Mo.

Normally, they would never have offered such a generous policy.

But considering Panshi Venture Capital’s annual tax payments weren’t high and the company was very small...

...even two years of full exemption and three years of a fifty-percent reduction wouldn’t amount to a significant sum.

The same logic applied to Chen Mo’s personal taxes.

It was only 3 million a year, after all.

Of course, the main reason was that mysterious forces had intervened.

Otherwise, obtaining such a favorable policy would have been extremely difficult.

"Thank you so much!"

Upon hearing this, a look of surprise flashed in Chen Mo’s eyes, replaced by a happy smile.

Honestly, he had never imagined he would receive a policy this generous before he arrived.

Two years of full tax exemption and three years of a fifty-percent reduction for the company was an incredibly generous offer.

Perhaps the tax department figured that since his was a small company, this incentive wouldn’t cost them much.

But now that he had taken over, the company couldn’t be judged by its past performance.

With his physique and Xu Xiyue’s talent, Panshi Venture Capital’s future profits were bound to skyrocket.

Its revenue, profit, and tax liability would all soar.

He himself didn’t even know how much Panshi Venture Capital would grow in the next two years.

But he was certain that this two-year tax exemption would save the company an absolute fortune!

And after those two years ended, there would still be three years of the fifty-percent reduction.

After two years of development, Panshi Venture Capital would likely have grown into a major venture capital firm during the subsequent three-year period.

At that point, the benefit of a fifty-percent tax reduction would be equally staggering.

’They’ll probably be kicking themselves raw with regret by then.’

Chen Mo couldn’t help but chuckle, thinking the tax department would definitely regret this decision later.

Although Modu’s tax department wasn’t short on cash, they would be unable to collect taxes they were owed—and it wouldn’t be a small amount, either.

Anyone in their shoes would regret it and feel they’d suffered a massive loss.

As for his personal 3-million-yuan tax exemption, it was quite small compared to the company’s benefits.

Still, it added up to 15 million over five years.

Most importantly, he could get a partial refund on the taxes he had already paid this year.

He had paid 1.34 million in personal income tax when he won the lottery, 1 million when he transferred the company, and another 3 million when he sold the property.

In other words, that was 5.34 million right there.

According to what the official said, he could file for a refund on taxes already paid after March 1st of the following year.

With an exemption of 3 million, he would essentially get 3 million refunded to him.

Getting money back that he had already paid—and a full 3 million, no less.

It was an absolutely unexpected windfall.

Even for him now, 3 million was not a small sum.

All told, the tax incentives the tax department had given his company and him personally were truly immense.

When the financial director heard the official lay out the incentive policy, he was completely stunned.

They were just a venture capital firm, not some state-supported, innovative tech company.

How could they possibly have gotten a two-year full exemption and a three-year fifty-percent reduction?

And the boss himself had an annual tax-exempt allowance of 3 million, which came out to 15 million over five years.

If managed correctly, that entire 15 million could be fully utilized.

For a moment, he was filled with both admiration and envy for Chen Mo.

He wondered why he had never been interested in fishing.

If he could have fished up something like that, countless companies would have wanted to hire him as a good-luck charm.

His position and annual salary would both take off, and he’d be at the pinnacle of his life.

Too bad he didn’t have that kind of luck.

Chen Mo had stolen his destiny... no, forget it. That was going a bit too far.