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Q:
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What is VAT additional credit policy?
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A:
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VAT additional credit policy, is applied to the enterprises which provide production and living services and allowed 10% or 15% additional deduction of input VAT from output VAT.
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Q:
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Taxpayers, applicable period and percentage of VAT additional credit policy?
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A:
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VAT additional credit policy as below:
Industries
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Applicable Period
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Percent
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Postage services, telecommunication services, modern services
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April 1, 2019 to December 31, 2021
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10%
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Living services
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April 1, 2019 to September 30, 2019
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10%
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October 1, 2019 to December 31, 2021
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15%
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The service income of above industries contributes 50% of total income.
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Q:
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When the transfer-off of input VAT. How to measure the additional input VAT deducted?
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A:
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If the input tax of the additional deduction has been accrued, and the input tax is transferred out according to the regulations, the additional deduction shall be adjusted accordingly in the current period when the input tax is transferred out.
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Q:
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Before additional deduction applied, the VAT payable is zero or negative?
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A:
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The additional deduction in the current period can be move forward to next period.
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Q:
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Before additional deduction applied, the VAT payable is over zero?
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A:
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The current deductible plus deduction amount is used to deduct the tax payable to zero. The current period that has not been deducted can be deducted from the additional deduction amount and carried forward to the next period to continue deduction. After the implementation of the additional deduction policy expires, the taxpayer will no longer accrue the additional deduction, and the additional deduction of the balance will cease to be deducted.
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FAQ
