国务院暂不允许贷款利息抵税，但仍存想象空间

Core Viewpoint - The recent implementation of the VAT law in China has temporarily disallowed the deduction of loan interest and related expenses, but experts believe that this policy may be evaluated and potentially revised in the future to allow such deductions [1][3]. Group 1: Current VAT Regulations - The newly implemented VAT law specifies that taxpayers cannot deduct the input tax from loan interest and related fees from their output tax [1]. - The term "temporarily" has been added to the regulations, indicating that the current restriction may not be permanent [1]. - The government is expected to assess the impact of this policy and may consider allowing deductions in the future [1][3]. Group 2: Implications for Businesses - The inability to deduct loan interest increases the cost of borrowing for businesses and disrupts the VAT deduction chain, leading to a situation of double taxation [2][3]. - The current VAT system in China is seen as one of the most comprehensive in taxing the financial sector, but it creates inequities among industries due to the inability to deduct loan-related expenses [3]. - There is a strong expectation among businesses for the inclusion of loan interest in the VAT deduction framework, as the current regulations have left them disappointed [3]. Group 3: Future Considerations - Experts suggest that the reform of allowing loan interest deductions should be gradual and could start with specific industries, such as manufacturing, to minimize the impact on fiscal revenue [5]. - There is a possibility for pilot programs to allow deductions for certain industries or reputable companies, which could be expanded over time [5]. - The flexibility of the VAT law allows for timely adjustments without the need for extensive legislative changes, making future reforms more feasible [5].