VAT rate reduction effect
What is the substantial impact of the VAT rate reduction on April 1st? In the specific operation, the key depends on whether the transaction is based on the tax-included price, but also consider adding a series of deductions and other tax deductions. Supporting measures, as well as adjustment of export tax rebate rate.
After the VAT rate is lowered, companies should pay attention to -
Whether or not the tax-inclusive transaction affects the tax burden
On the morning of March 5, Premier Li Keqiang mentioned in the government work report that the VAT reform will be deepened, and the current 16% tax rate for industries such as manufacturing will be reduced to 13%, and the current 10% tax rate for the transportation industry and construction industry will be reduced. Reduced to 9% to ensure a significant reduction in tax burdens in major industries;
Keep the tax rate of 6% and the first grade unchanged, but by adopting supporting measures such as increasing tax deductions for production and living services, ensure that the tax burden of all industries is only reduced, and continue to promote the tax rate of the third grade and two grades, the tax system. Simplify the direction.
Then, what is the substantial impact of the downward adjustment of the VAT rate on the enterprise? Since taxpayers use the combination of sales and output tax, the sales = tax-included sales (1 + tax rate).
Therefore, the author believes that in the specific operation, the key depends on whether the transaction is based on the tax-included price.
Trade at tax-included prices
After the VAT rate is lowered, if the company trades at a tax-included price, what is the change in tax burden?
For example, suppose that the purchase and sale business of Company A is based on the tax-included price (the agreement does not change the transaction price due to the adjustment of the tax rate), the original applicable tax rate is 16%, and the tax rate is 13% after the tax rate adjustment.
This month, the sales of goods received a total price tax of 11.6 million yuan, the purchase of raw materials payment tax value of a total of 6.96 million yuan, and the entire month has been used for production, the payment of transportation costs and taxes totaled 1.1 million yuan.
Before the tax rate adjustment, Company A did not include tax sales this month = 1160 baht (1+16%) = 1000 (ten thousand yuan); the current sales tax amount = 1000 × 16% = 160 (ten thousand yuan). Purchased goods do not include tax price = 696 ÷ (1 + 16%) = 600 (ten thousand yuan), the purchase tax of the current purchase of goods = 600 × 16% = 96 (ten thousand yuan);
The purchase price does not include the tax price = 110 ÷ (1 + 10%) = 100 (ten thousand yuan), the purchase tax for the current purchase of the service = 100 × 10% = 10 (ten thousand yuan). This month should be subject to VAT tax = 160-96-10 = 54 (ten thousand yuan).
Since the purchase and sale business has already agreed to trade in the tax-included price, after the tax rate adjustment, Company A does not include tax sales this month = 1160÷(1+13%)=1026.55 (ten thousand yuan); current sales tax amount = 1026.55×13% =133.45 (ten thousand yuan), the tax calculated from the original tax rate is 265,500 yuan (160-133.45).
At the same time, since the purchase and sale business is all based on the tax-included price, the income of Company A has increased by 265,500 yuan. Purchased goods without tax price = 696 ÷ (1 + 13%) = 615.93 (ten thousand yuan), the purchase tax of the current purchase of goods = 615.93 × 13% = 80.07 (ten thousand yuan), less than the original tax rate calculated by the amount of 159,300 Yuan (96-80.07), the cost of company A increased by 159,300 yuan.
Purchase service does not include tax price = 110 ÷ (1 + 9%) = 100.92 (ten thousand yuan), current input tax amount = 100.92 × 9% = 9.08 (ten thousand yuan), less than the original tax rate calculated tax amount of 92,000 yuan (10 -9.08), the cost of Company A increased by 0.92 million. This month, the value-added tax should be 133.45-80.07-9.08=44.30 (ten thousand yuan).
After the adjustment of the tax rate, Company A paid less than RMB 97,000 (54-44.30) for value-added tax before adjustment, and reduced the proportion of tax payable to 17.96%.
Since the transactions are all based on the original agreed tax-included price, after the tax rate is lowered, the sales tax (ie the input tax of Company A) of the company that sells raw materials to Company A is reduced by 159,300 yuan (96-80.07); The output tax of the serviced enterprise (ie the input tax of Company A) decreased by RMB 0.92 million (10-9.08);
Wentao Company, which produces and sells goods, has reduced its output tax by 265,500 yuan, the input tax amount by 168,500 yuan, and its own VAT tax reduction by 97,000 yuan. At the same time, the sales revenue of Company A increased by 265,500 yuan, the cost increased by 168,500 yuan, and the profit before tax increased by 97,000 yuan.
This means that the total amount of value-added tax of 266,500 yuan of this batch of goods is reduced by the VAT rate, which is ultimately enjoyed by the enterprises in the production and sales sectors.
Trade at a price that does not include tax
If the purchase and sale are all based on the price without tax, the situation is different.
According to the agreement, Company A will charge 10 million yuan for the sale of goods this month, and the purchase of raw materials will not be included in the tax price of 6 million yuan, and it will be used for production in the month, and the transportation cost of tax-free transportation will be 1 million yuan. The tax amount is calculated according to the applicable tax rate for the current period (the corresponding adjustment of the tax rate is adjusted accordingly).
Before the tax rate adjustment, the current sales tax amount = 1000 × 16% = 160 (ten thousand yuan); the purchase tax of the current purchase of goods = 600 × 16% = 96 (ten thousand yuan), the purchase tax value of the current purchase of transportation services = 100 × 10 %=10 (ten thousand yuan); this month should be subject to VAT tax = 160-96-10 = 54 (ten thousand yuan).
After the adjustment of the tax rate, the current sales tax amount = 1000 × 13% = 130 (ten thousand yuan), which is 300,000 yuan (160-130) less than the original tax rate. The sales income of company A is still unchanged at 10 million this month. yuan.
The current input tax amount of purchased goods = 600 × 13% = 78 (ten thousand yuan), the tax calculated by the original tax rate is reduced by 180,000 yuan (96-78), the cost is unchanged; the purchase tax for the current purchase of the service = 100 × 9% = 9 (10,000 yuan), the tax calculated from the original tax rate is less than 10,000 yuan (10-9), and the cost has not changed. This month should be subject to VAT tax = 130-78-9 = 43 (ten thousand yuan).
After the adjustment of the tax rate, Company A paid less than the value-added tax of RMB 110,000 (54-43) before the adjustment, and the tax reduction ratio was 20.37%.
Assume that the goods produced by Company A in the current month are purchased by a small-scale taxpayer (or a non-general taxpayer for self-use, or for a general taxpayer to purchase items that cannot be deducted, etc.), if the tax is paid at the original tax rate The company's purchase price tax is a total of 11.6 million yuan.
However, due to the prior agreement that the price is not included in the tax price, and the value-added tax is calculated according to the current applicable tax rate, after the tax rate is lowered, the output tax of Company A that produces and sells goods is reduced by 300,000 yuan, and the input tax is reduced by 190,000 yuan (18). +1), its own VAT amount decreased by 110,000 yuan, and the income, cost and profit did not change.
Since the sales tax (the amount of tax paid by the purchaser) of the sales of the company A is reduced by 300,000 yuan, the purchaser only needs to pay the total price tax of 11.3 million yuan (excluding the tax price of 10 million yuan, value-added tax 130). Ten thousand yuan), that is, the value-added tax of 300,000 yuan should be reduced.
This means that the overall reduction of the 300,000 yuan VAT tax due to the reduction of the tax rate will ultimately benefit the terminal purchaser.
The value-added tax is the extra-price tax generated in the production process and sales link. It is passed on in each link in turn, and is collected by the purchaser from the sales party. The decline in the VAT rate does not necessarily make the market participants in all sectors profitable. Under the circumstances that the tax reduction is fixed, the specific tax reduction effect of each relevant market entity depends on the goods involved in each business (labor services, services). And so on, the supply and demand relationship, the pricing method and the bargaining power of all parties.
Focus on follow-up related policies
In practice, although the composition of the purchase and sale of various market entities and the amount of input tax and input tax are much more complicated than the above cases, one thing is certain. After the VAT rate is lowered, the final tax collected by the state must be corresponding. It has been reduced. As for how the market entities allocate tax cuts due to lower tax rates, they are affected by many factors such as market position.
It is worth noting that reducing the tax rate of 16% and 10% may result in a decrease in the input tax rate of enterprises applying the 6% tax rate. In order to offset this impact, it is expected that relevant departments will also introduce a series of supporting measures to increase tax deductions such as additional deductions for production and living services, which will bring about a certain degree of tax reduction effect.
For foreign trade enterprises, according to the convention, the export tax rebate rate of 16% and 10% applicable to export goods and cross-border taxable behavior is likely to be lowered separately. At the same time, the input tax on the corresponding purchased goods will also decrease as the seller's tax rate decreases.
The author reminds relevant foreign trade enterprises to pay attention to the promulgation of follow-up policies and the provisions of the transitional policies.
According to the current tax system, the VAT paid by the taxpayer shall also be subject to the urban maintenance and construction tax and education surcharge and local education surcharge (additional tax). The seller shall reduce the taxable amount due to the decrease of the VAT rate. The reduction in additional taxes and fees should be paid.
In short, with the arrival of a series of tax incentives, the relevant market players will have more sense of gain.