Purchase Of Printing Equipment The Two Tax Policy Cancellation
Ministry of Finance, the Ministry of Finance has issued the official web site of Customs
, State Administration of Taxation Announcement No. 43 of 2008 and the Ministry of Finance, State Administration of Taxation "on the cessation of foreign investment enterprises to purchase domestic equipment refund policy notice", announced in 2009 a 1 day, nationwide implementation of VAT reforms to allow businesses to offset VAT contain newly purchased equipment, while the abolition of duty-free imports of equipment, value-added tax policy and foreign-funded enterprises purchasing domestic equipment, value-added tax rebate policy. The adjustment of these two policies are related to printing industry.
Import VAT exemptions cancel printing equipment
As an important basis for tax exemption for imported equipment of the "domestic investment projects are not tax-free import of goods catalog" (2008 adjustment) included three categories 8 printing equipment, therefore, removal of import equipment exempted from import VAT policy, within the range specified in the original policy to continue duty-free adjustment of the printing industry to some extent.
It is understood that the imposition of import VAT recovery is due to the original policy has been replaced in new ways. Ministry of Information Office news release said the revised Provisional Regulations of Value Added Tax Regulations clear that when corporate computing the VAT payable, to be credited against purchase of imported equipment contained in the VAT, that is exempt from the import of equipment value-added tax to value-added tax levied on imported equipment for tax deduction, the original can not enjoy tax exemption on imported equipment may also implement a deduction. This adjustment without increasing the overall tax burden based on the company, will import equipment tax incentives from the policy level rise for the national legislation of the institutional provisions, to further standardize the tax system.
Taking into account the actual situation of enterprises in some industries, the policy changes set the transition period. On November 10, 2008 prior to access to "The state encourages the development of foreign investment projects within the confirmation" of the project, on June 30, 2009 and before the declaration of imported equipment, supporting technology, accessories, spare parts, under the old regulations continue exempted from tariffs and import value-added tax policies, July 1, 2009 and subsequent reporting of imports, should be to restore the imposition of import VAT.
Voice industry value-added tax deductible as an alternative policy, the policy offers a wider area
Reporter interviewed on the policy adjustment printing industry experts and corporate financial staff. They believe that although the import of printing equipment are exempted from VAT policy was canceled, but that is because of better value-added tax deductible policy as an alternative. Import and export of printing equipment, expert Yang Fangming
said, and after the implementation of the import policy of printing equipment are exempted from VAT compared to this year's value-added tax, the alternative tax policy, preferential policies face a greater value-added tax deductible. Compared with the value-added tax exemptions, value-added tax deductible policies to enjoy business more expanded from the original publication printing companies printing company for all; enjoy the policy of broader types of equipment, printing equipment from some specific extensions to all equipment.
Of China in Beijing Xinhua Printing Group's new printing plant will purchase more than 100 million yuan this year's printing equipment, Printing Corporation of China Deputy Chief Accountant and Asset Finance Minister He Chunliang said that although the import of printing equipment, VAT-free policy was canceled However, value-added tax starting in 2009 as an alternative to printing enterprises more favorable policies, the policy on printing companies to increase investment in fixed assets, reduce the pressure on cash flow positive business benefits. His analysis: "VAT taxable amount of output tax and input tax difference, the original raw materials, the deductible input tax, this year the company purchased new equipment and raw materials can also be deductible as input VAT. That the greater the amount of input tax, Enterprises should pay less VAT. "
Purchase Of Printing Equipment The Two Tax Policy Cancellation
By: betty
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