According to the "Announcement on Expanding the Industry Scope of the Policy for Full Refund of Value-Added Tax Excess Credit" jointly issued by the Ministry of Finance and the State Administration of Taxation, starting from July 1, the scope of application of the excess tax refund policy for manufacturing and other industries will be expanded, adding 7 major industries including wholesale and retail, accommodation and catering.
This policy expansion is based on the existing policy of refunding the incremental excess tax credit in full on a monthly basis and a one-time refund of the existing tax credit in six industries including the manufacturing industry. Wholesale and retail industry", "Agriculture, forestry, animal husbandry and fishery", "Accommodation and catering industry", "Resident services, repairs and other service industries", "Education", "Health and social work" and "Culture, sports and entertainment industry" industries are included in the scope of the above policies.
How to judge whether it is a subject enjoying the expanded new policy? According to the "Announcement", industries such as wholesale and retail are based on the "National Economic Industry Classification ", and the corresponding value-added tax sales of the business must account for more than 50% of the total value-added tax sales. It is understood that the sales ratio is calculated and determined based on the sales volume for 12 consecutive months before the taxpayer applies for tax refund; if the operating period before applying for tax refund is less than 12 months but more than 3 months, the sales ratio is calculated and determined based on the actual operating period.
In addition, taxpayers in the newly expanded industries who apply for a tax refund on excess credit must also meet the requirements of "tax credit rating of A or B" and "no fraudulent use of credit tax refunds, export tax refunds, or fraud in the 36 months before applying for tax refunds." Falsely issuing special value-added tax invoices" "Have not been punished twice or more by the tax authorities for tax evasion in the 36 months before applying for tax refund" "Have not enjoyed the tax-and-refund , tax first and refund (refund after April 1, 2019) ) policy" these four conditions.
As a well-known catering and accommodation hotel in Hai'an City, Jiangsu Province, Jiangsu Zhongyang Hotel has always been favored by foreign tourists for dining. However, due to the impact of the epidemic, hotels and restaurants are unable to accept banquets, and the occupancy rate of accommodation has also dropped by more than 20%, putting corporate operations under great pressure. "The expansion of the tax refund policy for excess credit has really injected warmth into the 'cold winter' of the catering industry." Hotel financial officer Ye Mingzhu said that although the tax refund of nearly 90,000 yuan is not much, it can also alleviate fixed expenses such as employee wages. bring pressure. "The expansion of the policy will play a positive role in protecting employment, benefiting people's livelihood, and stabilizing growth." The relevant person in charge of the Goods and Labor Tax Division of the Jiangsu Provincial Taxation Bureau said that the tax department will focus on helping companies relieve difficulties and boost the market Confidence, efforts will be made to promote the implementation of the tax refund policy for seven major industries to ensure that the policy dividends are fully enjoyed and can be enjoyed directly and quickly.
Wenfeng Great World Chain Development Co., Ltd., which has been rooted in the Nantong market for more than 20 years, is also a beneficiary of this round of policy expansion. As a wholesale and retail company, its stores have been shut down for many days since the epidemic, and customer flow, cash flow , and sales data have dropped off a cliff. "After the expansion of the excess tax refund policy, we expect to be able to refund all existing excess tax credits of 9.72 million yuan in July, and the pressure on capital turnover will be greatly alleviated." Jia Yunbo, the person in charge of the company, said that more large-scale promotional activities will be launched in the future. A variety of promotional methods have been used to stimulate consumption, and we are confident that our performance will gradually resume growth.
Good policies must be implemented well. In the next step, the Jiangsu tax department will follow the work requirements of "quick withdrawal, hard crackdown, strict investigation, external supervision, and long-term publicity" and rely on tax big data to accurately screen qualified taxpayers and target different industries and different types of enterprises. , carry out classified policy guidance and risk prevention training to better meet the individual needs of enterprises and allow various market entities to fully enjoy policy dividends in a timely manner.
(Source: Jiangsu Radio and Television Media News Center/Guo Yi Editor/Guozheng)
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