China Drying Network Newsletter In order to cooperate with the pilot work on the conversion of business tax into value-added tax (hereinafter referred to as "Zhan Gai Zeng"), the Ministry of Finance announced on the 24th "Regulations on the Accounting Treatment of Enterprises Relevant to the Collection of Value-Added Tax on Business Tax" (hereinafter referred to as "Regulation"). The regulations clarify for the first time that enterprises that receive financial support funds due to an increase in the actual tax burden in the pilot-for-profit reform pilot must pay corporate income tax.
According to statistics, as of mid-May, Shanghai, a pilot site for business reforms, has increased the cumulative tax burden for the first quarter of this year by 30,000 yuan, which is a pilot enterprise with an average monthly tax increase of more than 10,000 yuan. 100 million yuan. As a popular candidate city for the reform and increase of pilots, Beijing also held a meeting in May and pointed out that it is necessary to study and formulate a transitional financial support policy.
According to the regulations, pilot taxpayers applying to the fiscal and taxation departments for financial support funds during the conversion period between the old and new tax systems have firm evidence at the end of the period that the company is able to meet the relevant conditions stipulated in the financial support policies and is expected to receive financial support. In the case of funds, debit items such as "other receivables" according to the amount receivable, and credit the "non-operating income" account. In an interview with a reporter from the Economic Information Daily, Hu Genrong, a partner in charge of indirect taxes at PricewaterhouseCoopers China and Hong Kong, asked whether “this means that the above funds should be used as non-earmarked fiscal funds to collect corporate income tax?â€
In response to this question, an official who participated in policy formulation told the reporter that this regulation clearly states that enterprises that receive financial support funds due to an increase in the actual tax burden in the pilot-for-profit reform pilot will have to pay corporate income tax.
According to the documents promulgated by the Ministry of Finance and the State Administration of Taxation in 2008, the financial funds obtained by the financial and taxation authorities of the State Council that are prescribed for special purposes and approved by the State Council are allowed to be used as non-taxable income when calculating taxable income. Deduct from total income. Correspondingly, non-earmarked fiscal funds should be regarded as taxable income and paid corporate income tax. An analyst from a large foreign accounting firm told reporters that from the accounting and accounting experience, the financial support funds in the pilot reforms were included in the “off-business subjectsâ€, and therefore they belong to non-special-purpose fiscal funds. Pay corporate income tax.
Including the taxation matters of financial support funds, the regulations stipulate the accounting treatment methods for the four businesses: difference taxation, value-added tax offsets, transitional financial support funds, and VAT taxpayers' initial purchase of VAT tax control. System-specific equipment and technical maintenance fees are charged against the value-added tax payable.
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