Q:
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Our company is a small construction enterprise in Tianjin，which belongs to a small-scale VAT tax payer. Which policy can we enjoy?
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A:
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According to announcements released by Ministry of Finance, from March 1, 2020 to December 31, 2020, except for Hubei Province, the small-scale taxpayers of other provinces, autonomous regions and municipalities directly under the central government shall apply the taxable sales revenue with 3% collection rate, and the VAT shall be collected at 1% collection rate. For the construction services, the sales amount shall be the balance of all the obtained price and extra price expenses after deducting the payment of the subcontract, and the VAT shall be levied at the rate of 1%; in case of the construction services that need to pay the VAT in advance, the VAT shall be levied at the rate of 1%.
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Q:
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Our company is a small manufacturing enterprise with annual sales of less than 5 million yuan. It is a limited liability company, and a small-scale VAT taxpayer, but not an individual industrial and commercial household business. Can we enjoy the preferential VAT policy for resuming production?
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A:
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Yes, all small-scale taxpayers can enjoy preferential policy for VAT in supporting of reinstatement.
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Q:
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Our company is a labour dispatch company (VAT small-scale taxpayer). Previously, our company chose to pay VAT by balance-based payment method at 5%. What VAT preferential policy can our company enjoy?
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A:
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Your company can choose to recognize the full price and other expenses as sales revenue, and pay VAT by simplified calculation method at reduced rate of 1%; alternatively, you can choose to pay VAT by balance-based payment method at 5%.
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If the collection rate for small-scale taxpayers is reduced from 3% to 1%, does the deduction rate need to be adjusted when calculating input VAT for road travel transportation?
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A:
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Q:
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If small-scale VAT taxpayers sell their used fixed assets and second-hand goods at reduced rate of 2%, can they enjoy the preferential VAT policies for small-scale taxpayers to resume work and resume business?
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A:
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When VAT small-scale taxpayers of Hubei province sell used fixed assets and second-hand goods, VAT is exempt; VAT small-scale taxpayers of other provinces, autonomous regions and municipalities selling used fixed assets and second-hand goods, for the taxable income, VAT is paid at reduced rate of 1%.
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Q:
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Our company is a freight transportation company and a VAT general taxpayer. At present, we have been enjoying the VAT exemption policy for transport of key supplies for epidemic prevention and control. Considering that our company will purchase a large number of trucks, it is expected that the input tax amount will be huge, as a result, we are planning to withdraw VAT exemption policy from June 2020. What should we do?
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A:
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According to relevant regulation, your company should submit a written announcement to competent tax authority in May 2020 in order to withdraw the right to enjoy VAT exemption policy in June 2020.
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FAQ
