No. Non-deductible VAT input comprise following cases. a)Purchase of fixed assets (deductible inNorth-east China only) b)Goods or taxable services for use in non-taxable projects c)Goods or taxable services for extraordinary losses, such as natural disaster, theft or poor management, etc. d)Purchase of goods from small-scale taxpayers
The VAT assessable period can be one day, three days, five days, ten days, fifteen days or one month. The actual assessable period of the taxpayer shall be determined by the competent tax authorities according to the magnitude of the tax payable of the taxpayer. In case VAT cannot be assessed in regular periods, it […]
a)Export invoice for production enterprise or purchase invoice for trading enterprise b)Customs Declaration Form c)Registration Cancel Form for Foreign Exchange Proceeds from Export of Goods
Yes. In case of 0% rate applicable to the exported goods, the exporters may apply to tax authorities for the VAT input refund on exported goods. Refund rates range from 5% to 17% depending on the types of goods.
The imported goods are taxed on the basis of the composite assessable price by applying the applicable tax rate.
Small-scale taxpayers are taxed at 3% of sales of goods. Tax payable = Sales amount × Applicable tax rate
Normal taxpayers need to separately calculate the VAT output and VAT input for the current period. Then the difference between the VAT output and VAT input shall be the actual amount of VAT payable. VAT payable = VAT Output for the current period* – VAT Input for the current period** *VAT Output = Sales […]
A general taxpayer can issue their customers official VAT receipt at 17% or 13%. Any eligible VAT input can be deducted from VAT output. A small-scale taxpayer can only issue a general official receipt at 3% of sales. No VAT input can be deducted from VAT on sales.
A general taxpayer represents a business whose transactions can be clearly recorded, and sales of goods are not more than RMB 1million for a production company or RMB 1.8 million for a trading company. Those other than a general taxpayer are treated as a small-scale taxpayer. For taxpayers who submit application when they meet the […]
There are two types of VAT payers. One is general taxpayer whose sales of goods are subject to a VAT rate at 17% or 13%. The other is small scale taxpayer whose applicable tax rate is 3%.
