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Q:
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When did the latest VAT preferential policies for small-micro enterprises be implemented?
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A:
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According to the "Announcement of the Ministry of Finance and the State Administration of Taxation on Clarifying the VAT Exemption Policy for Small-scale VAT Taxpayers" (Announcement No. 11 [2021]), from April 1, 2021, to December 31, 2022, Small-scale VAT taxpayers with monthly sales of less than 150,000 (inclusive) are exempt from VAT.
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Q:
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What tax system does a small-scale taxpayer whose monthly sales does not exceed 150,000 use to issue VAT invoices?
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According to Article 7 of the "Announcement of the State Administration of Taxation on the Administration of the Exemption of Value-Added Tax for Small-scale Taxpayers" (Announcement No. 5 [2021]), special tax control equipment such as golden tax disks and tax control disks have been issued. Small-scale taxpayers whose monthly sales do not exceed 150,000 can continue to use existing equipment to issue VAT invoices, or they can voluntarily get tax Ukey to issue invoices with tax authorities for free.
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Q:
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Do small-scale taxpayers whose monthly sales realized in the place of prepayment do not exceed 150,000 need to prepay tax?
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No. The current VAT has implemented several pre-paid tax collection and management measures, such as the construction services across regions, the sale of real estate, and the lease of real estate. According to Article 5 of the "Announcement of the State Administration of Taxation on the Administration of Exemption of Value-Added Tax for Small-scale Taxpayers"(Announcement No. 5 [2021]), small-scale taxpayers who should prepay VAT in accordance with current regulations, if the monthly sales realized in the prepayment place does not exceed 150,000, there is no need to prepay tax in the current period.
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Q:
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Whether the small-scale taxpayers transfer real estate can enjoy the VAT exemption for small and micro enterprises?
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A:
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If a small-scale taxpayer engages in value-added taxable sales with a total monthly sale of more than 150,000, but after deducting the sales of real estate in the current period do not exceed 150,000, the sales of goods, labour, services, and intangible assets are exempt from VAT.
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Q:
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Can other individuals enjoy preferential tax policies for small and micro enterprises for renting out real estate?
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A:
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According to Article 4 of the "Announcement of the State Administration of Taxation on the Administration of Exemption of Value-Added Tax for Small-scale Taxpayers" (Announcement No. 5 [2021]), Article 9 of the "Rules for the Implementation of the Provisional Regulations on Value-Added Tax of the People's Republic of China", other individuals obtained the rental income by leasing real estate in the form of lump-sum rental can be evenly apportioned during the corresponding lease period. If the apportioned monthly rental income does not exceed 150,000, the VAT is exempted.
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FAQ
