4.Turnover_Tax2课件.ppt

Turnover TaxCheng Danjnucd22@126.com;Main issues;I. Value-added Tax;VAT is administered by the Offices of SAT, the import VAT is collected by the Customs on behalf, the revenue shared between the CG and LG, 75%:25%. VAT is the major source of CG, in 2009, VAT revenue is 18481.24 billion Yuan, occupied 31% of the state total tax revenue. ;Taxpayers Any enterprise, unit, individual householder and other individual engaged in sales of goods, importation of goods, provision of services of processing, repairs and replacement (taxable services) within the territory of PRC.; What is the normal or small taxpayer? Basis of the annual sales volume of the entity. ;Small taxpayer : production of goods or provision of taxable services 1 million yuan or less solely in the retail or wholesale business with a taxable sales volume of 1.8 million yuan or less ;Normal taxpayer enterprises with annual taxable sale volume exceed the level as the small taxpayers ;2. Taxable items and tax rate Different goods, services, adopted different flat rates, zero rate. See table on page 45;3. computation of tax payable a. Normal taxpayer need to separately calculate the output tax and input tax for current period. ; Tax payable= output tax payable – input tax payable Output tax payable= sales volume * applicable tax rate ;b. Small taxpayers 4% for commercial sector, 6% for other sectors Tax payable= sales amount * applicable rate ;C. importation Taxed on the basis of composite assessable price tax payable= composite assessable price * applied VAT rate composite assessable price= customs completion price + customs duty;d. VAT refund for export in the case of 0% rate applicable to the export goods, the exporters may apply to the tax authorities for input tax refund on those goods exported. the refund rate consist of 4%, 5%, 6%, 11%, 13%, 17%.;4. major tax exemptions agricultural production materials as ruled self-produced primary agricultural product