Q:
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As of now, how many times does the "turning small" rule released?
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A:
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For the first time, the policy allows "turning small" is stipulated by Caishui [2018] No. 33 of the "Notice on the Standardization of Small-Scale Taxpayers of Value Added Tax" (hereinafter referred to as “VAT”) , and will be implemented until December 31, 2018, and for non-business tax to VAT pilot taxpayers.
The second time was stipulated in the Announcement No. 4, 2019 of the State Administration of Taxation "Announcement on Policies Regarding the Exemption of Value-added Tax for Small-Scale Taxpayers" from January 1, 2019 to December 31, 2019 for qualified general taxpayers.
The third time is the Announcement No. 9 issued on April 23, 2020, and the execution period is until December 31, 2020.
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Q:
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What does it mean to execute until December 31, 2020 in "turning small"?
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A:
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The eligible general taxpayers may choose to re-register as small-scale taxpayers by 31 December 2020.
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Q:
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What are the conditions for satisfy "turning small"?
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A:
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The cumulative sales for 12 consecutive months (1 tax period for 1 month) or 4 consecutive quarters (1 quarter for 1 tax period) before the transfer registration date did not exceed 5 million yuan.
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Q:
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How are the other matters regulated about "turning small"?
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A:
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Other matters of "turning small" need to be according to the announcement of the State Administration of Taxation on the harmonization of standards for small-scale taxpayers and other VAT issues (No. 18, 2018), and the implementation of the relevant provisions of the State Administration of Taxation on the harmonization of small-scale taxpayer standards on export rebate (exemption) tax issues (No. 20 of 2018).
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Q:
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When will the “turning small” be implemented?
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A:
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From the date of the announcement, April 23, 2020.
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FAQ
