According to regulations, the leasing expenses incurred by leasing fixed assets during the production and operation of an enterprise can be deducted before tax.

However, fixed assets purchased directly by enterprises are not included in the pre-tax deduction items.

Of course, production equipment is a fixed asset of the company, so the money spent by the company on leasing equipment will be deducted before tax, which is equivalent to deducting part of the corporate income tax; while the money spent on buying equipment is not tax deductible.

Therefore, when Li Weidong bought these four sets of imported equipment, he did not go through the garment factory's accounts at all. Now if the garment factory wants to use these equipment, it must rent them from Li Weidong, and the leasing fees can be deducted from part of the corporate income tax.

Of course, property leasing income is also subject to tax, but the tax rate on property leasing income is 20%, which is much lower than the 55% state-owned enterprise income tax.

Moreover, in that era, individual taxation was basically just a talk, and it was difficult to implement it. Even in 2020, how many landlords actually paid taxes?

In addition, the 500,000 yuan that Li Weidong invested in the clothing factory before was also lent to the clothing factory in the form of a loan by the accountant. It seemed that the left hand was exchanging the right hand, but in fact it was also a legal

means of tax avoidance.

As long as the interest on loans during the production and operation period of the enterprise is not higher than the bank's loan interest rate for the same period, the interest can also be deducted before tax.

In the mid-1980s, the country's tax policy still had many imperfections. The profit-to-tax reform had only been implemented for a few years, and there were also many loopholes in it.

Old Yin coins like Li Weidong naturally have many legal ways to avoid taxes. How can a boss not avoid taxes? A few thousand will be deducted here and a few thousand will be deducted elsewhere. When the taxable income is finally calculated, it will be only a few hundred thousand.

Saved. Rounded up, it’s equivalent to earning 100 million!

Those naive accountants in the 1980s definitely didn't understand these methods, so Li Weidong had to slowly teach Wang Kaiping.

Fortunately, Wang Kaiping is not stupid. He understood Li Weidong's intention with a little digging, and then made the accounts flawless.

Of course, this is also thanks to the fact that Wang Kaiping is one of his own. If it were another accountant, Li Weidong would not dare to leave the tax avoidance matter to him.
Chapter completed!