What are the Different Insurance Deductions?

Tax deduction, also known as "tax deduction" and "deducted tax", refers to a tax benefit that allows taxpayers to deduct the tax paid in the previous link when calculating the payment of tax according to the provisions of the tax law. Since the tax credit is a deduction of all or part of the tax paid, it is a special tax exemption or reduction, so it is also called tax reduction.

Tax credit

This entry lacks an overview map . Supplementing related content makes the entry more complete and can be upgraded quickly. Come on!

Tax deductions, also known as "tax deductions" and "deducted tax amounts", refer to

Tax deduction and

1. Input tax credit. The input VAT amount stated on the following VAT deduction vouchers can be deducted from the output tax amount: (Article 8 of the "Interim Regulations of the People's Republic of China on Value Added Tax")

(1) The amount of VAT indicated on the special VAT invoice obtained from the seller;

(2) The amount of VAT indicated on the tax payment voucher obtained from the customs.

2. Deductions for purchased agricultural products. From January 1, 2002, general taxpayers who purchase tax-free agricultural products sold by agricultural producers can calculate the input tax deductible from the output tax at a deduction rate of 13% of the purchase amount. (Article 8 of the "Interim Regulations of the People's Republic of China on Value Added Tax, Caishui [2002] No. 12)

3. The deduction of taxes at the beginning of the inventory. VAT general taxpayers have levied taxes on the beginning inventory, and have implemented a pro-rata deduction method within 5 years from 1995. The annual deduction ratio is 20% of the balance of the levied tax on the initial inventory in early 1995. ] No. 42)

4. Agricultural special product tax credit. The agricultural special product tax paid by the purchasing units of agricultural products in accordance with regulations in addition to the purchase price is allowed to be incorporated into the purchase price of agricultural products to calculate the input tax deductible. ((94) Caishuizi No. 60)

5. Deduction of transportation expenses. From July 1, 1998, the transportation costs paid by general value-added taxpayers for outsourced goods and sales of goods can be calculated at a deduction rate of 7% of the freight amount (excluding miscellaneous charges such as loading and unloading costs, insurance costs, etc.). The amount of input tax deducted. (Finance and Taxation [1998] No. 114)

6. Railway freight deduction. From January 1, 2000, for the general value-added tax taxpayers to purchase or sell goods, the railway transportation expenses paid, including transportation operating expenses, railway construction funds, railway freight for new management and new line freight, are allowed at 7%. The input tax amount is calculated from the deduction rate and is deducted from the output tax amount. (Guo Shui Fa [2000] No. 14)

7. Tax-free cotton deduction. From July 1, 2001, general taxpayers (including grain and cotton processing factories and textile enterprises) purchased tax-free cotton directly from agricultural producers, and the input tax amount allowed for deduction was calculated at a deduction rate of 13% of the purchase amount. (Finance and Taxation [2001] No. 165)

8. Tax-free food deduction. For tax-free grain purchased from state-owned grain enterprises, the input tax amount allowed for deduction is calculated at a deduction rate of 13% of the purchase amount. (Finance and Taxation [1999] No. 198)

9. Deductible stock tax deductible. Grain enterprises that have resumed the collection of value-added tax shall sell the stocked grains that are tax-free according to the original grain policy, and calculate the input tax deductible at a deduction rate of 10% of the purchase amount. (National Tax Letter [1999] No. 829)

10. Domestic steel deductions. For listed steel companies, steel products that are sold to processing enterprises for the production of export products at prices excluding taxes are allowed to be deducted from the output taxes of other domestic products. (Finance and Taxation [1999] No. 144)

11. Computer software deduction. Production enterprises and commercial enterprises belonging to small-scale taxpayers who sell computer software can be issued special VAT invoices by tax authorities at different rates. (Finance and Taxation [1999] No. 273)

12. Deduction of waste materials. For enterprises engaged in the management of waste materials, the waste materials purchased can be deducted at the deduction rate of 10% of the purchase amount. (Finance and Taxation [2000] No. 12)

13. Inventory deduction at the beginning of the period. VAT general taxpayers who have not deducted the opening stocks before the end of 1999 have already levied taxes, which can be deducted in installments before the end of 2001. The specific deduction progress is determined by the provincial tax bureaus. (Guo Shui Fa [2000] No. 3)

14. Inventory merchandise cotton deduction. Taxpayers selling commodity cotton in stock may calculate the input tax deductible at a deduction rate of 13% of the purchase amount. (Jiandian [2000] No. 33)

15. Deductions for goods purchased through advertising. The input tax for purchased goods used by cultural publishing units for advertising business should be based on the ratio of advertising space to the entire publication space. Based on this, the input tax that is not deductible for purchased goods used in the production and printing of advertisements should be calculated and finally determined. Input tax deductible for publications. (Guo Shui Fa [2000] 188)

16. Deduction of purchased waste materials. Starting from May 1, 2001, general taxpayers of manufacturing enterprises who purchase waste materials sold by waste materials business units can deduct the input tax amount based on the amount indicated on the invoice issued by the waste materials business unit. (Finance and Taxation [2001] No. 78)

17. Deduction of goods for sales assistance projects. From August 1, 2001, the input tax amount of duty-free goods sold to foreign governments and 38 listed international organizations for free assistance projects is allowed to be deducted from the output tax of other domestically sold goods. (Finance and Taxation [2002] No. 2)

18. Install tax control deductions. Tax-controlled refueling machines and tax-control devices purchased at gas stations can be deducted from the input tax amount of the enterprise based on the value-added tax indicated in the special invoice obtained from the purchase of the goods. Before March 1, 2002, if the gas station purchased tax-controlled refueling machines and tax-control equipment and did not obtain a special value-added tax invoice, the general invoice for the above-mentioned goods can be used to calculate the input tax deductible at the applicable tax rate of the goods. . (Finance and Taxation [2002] No. 15)

19. Deductions for sales of refined oil products. Beginning May 1, 2002, petrol stations will fill product oil through tax-controlled refueling machines. When calculating the value-added tax output tax, the following items are allowed to be deducted from the sales volume of product oil in the month: (No. 2 of the year).

(1) The fuel used by the vehicle at the gas station determined by the competent tax authority;

(2) If purchased by an external entity, use the oil storage of the gas station to replace the oil storage;

(3) The gas station itself pours oil;

(4) Oil for gas station detection (back tank oil).

20. Loss of VAT invoices that have passed the anti-counterfeiting tax control certification. The general taxpayer loses the special VAT invoice issued by the anti-counterfeiting tax control system. If the invoice has been certified by the anti-counterfeiting tax control certification system before the loss, the purchaser can rely on the "General VAT taxpayer losing anti-counterfeiting tax control" issued by the sales unit. A special VAT invoice has been submitted for tax certification ", and after being approved by the tax authority in charge of the purchase unit, it is used as a legal proof of the VAT input tax to deduct the input tax. (Guo Shui Fa [2002] No. 10)

21. Loss of VAT invoices that have not passed the anti-counterfeiting tax control certification. The general taxpayer loses the special VAT invoice issued by the anti-counterfeiting tax control system. If the invoice is not certified before the anti-counterfeiting tax control certification system is lost, the purchaser should bring the stub of the lost invoice issued by the sales unit to the competent tax authority. Authorities perform certification. After the certification is passed, they can use the copy of the invoice and the VAT general taxpayer lost anti-counterfeiting tax control issued special VAT invoice has been issued a tax certificate issued by the competent tax authority where the seller is located. After the tax authority reviews and approves, the input tax amount is deducted as a legal certificate for the deduction of VAT input tax amount. (Guo Shui Fa [2002] No. 10)

22. Deductible for futures transactions. For general value-added taxpayers who purchase goods through futures trading on the commodity exchange, the payment of goods through the commodity exchange can be regarded as paying the goods to the sales unit. Deductions are allowed for the special VAT invoices obtained by them. (Guo Shui Fa [2002] No. 45)

23. Increase the input tax deduction rate for agricultural products. General VAT taxpayers purchasing agricultural products from small-scale taxpayers may use the 13% deduction rate in accordance with the "Notice of the Ministry of Finance and the State Administration of Taxation on Increasing the Input Tax Deduction Rate of Agricultural Products" (Caishui [2002] No. 12) Deduct input tax. (Finance and Taxation [2002] No. 105)

24. Tap water sales. Since June 1, 2002, VAT has been levied on the tap water sales company's tap water at a rate of 6%, and the value-added tax specified on the special VAT ticket obtained from the purchase of tap water from an independent accounting water plant ( Issued at 6% collection rate). If a water company purchases tap water from an independent accounting water plant before June 1, 2002 to obtain an ordinary invoice, the input tax amount can be calculated at the 6% levy rate after conversion of the invoice amount into sales without tax, and after verification by the relevant tax authority To be deducted, the calculation formula for sales without tax is: Sales without tax = sales amount 1 + collection rate (Guo Shui Fa [2002] No. 56)

25. Input tax deduction for railway freight. From August 22, 2003, the railway transportation department will issue additional freight charges for the North Xinjiang Line, Xikang Line, and Shangqin, Inner Line 6, Fuqian Line, Tower 10 Line, Guangshen Line, and South Xinjiang Line. The input tax deductible is calculated at a deduction rate of 7%. (Guo Shui Han [2003] No. 970)

26. Input tax deductible for fast rail freight. Beginning August 22, 2003, the railway express parcel dry fees, overweight fees, arrival freight and transshipment fees issued by China Railway Parcel Express Co., Ltd., which are obtained by general taxpayers to purchase or sell goods, can be calculated at a 7% deduction rate Deduct input tax. (Guo Shui Han [2003] No. 970)

27. With the consent of the Ministry of Commerce and Finance, since January 1, 2005, Jilin Carbon Group Co., Ltd. has been included in the scope of the pilot enterprises for expanding VAT deduction in the Northeast. (Guo Shui Han [2005] No. 692)

28. The value-added tax paid by general VAT taxpayers when purchasing tax-controlled cash registers (based on the value-added tax specified on the special VAT invoices obtained by purchasing tax-controlled cash registers) shall be granted in the current period of the enterprise Deducted from the value-added tax output tax. (Finance and Taxation [2004] No. 167)