It is levied on the price of a product or service at each stage of production, distribution, or sale to the end consumer. Currently, animal feeds, agricultural protection covers, the pro­duction of some specific types of chemical fertilizers, the trading of seeds, seedlings, chemical fertilizers, agricultural medicines, farming machinery, and the sale of self-manufacturing qualifying reclaimed water, certain rubber powder and refurbished tires, and qualifying sewage treatments are also exempted from VAT by virtue of administrative measures adopted by the Chinese tax authorities to protect farming businesses and encourage recy­cling in China. To ease tax admin­istration, mixed transactions carried on by enterprises and sole proprietorship businesses engaged in or mainly engaged in the production, wholesale and retail supply of goods are deemed to be supplies of goods. Country Australia Cambodia China Indirect tax type GST VAT VAT, Consumption Tax Tax rate Standard tax rate 10% 10% but currently prescribed as 7% For VAT: 13%, 9% and 6% For Consumption Tax: 3% to 45% Reduced or increased tax rate(s) Not applicable Not applicable For VAT: 3% Is there scope for zero- rating or exemption from Goods and Services Tax (GST) is 13% to the manufacturing sector, 9% to construction and transport, 6% to services in China. Calculation of input VAT disallowance (Calculation #1) Input VAT disallowance = Free on Board (FOB) value of export sales x (Applicable VAT rate – VAT export refund rate), Calculation of creditable input VAT (Calculation #2) If payments are made by installments in accordance with a sales and purchase agreement, the time of supply is when each install­ment is due. Any person who imports goods into China is liable to pay VAT at the point of entry, at the same rates applicable to the sale of similar goods in China. Eligible enterprises or other entities may file a tax refund (exemption) application. It is also required to apply for tax registration with the tax author­ities at the new location within 30 days after the tax deregistration. The purchased goods must leave China along with the visitor. The following lists show the services that were subject to Business Tax (BT) but are now subject to VAT (VAT pilot services). For manufacturing enterprises the requirements include: For foreign trade enterprises the requirements include: VAT returns. On 24 May 2013, the MOF and SAT jointly released Caishui [2013] No. For taxpayers that have a VAT tax period of 1 month or 1 quarter, they must submit VAT returns and pay the VAT due on a monthly or quarterly basis within 15 days after the end of the period. For companies engaging in the production of taxable goods, the following are the calculations of the input VAT disallowance and the relevant creditable input VAT. Consequently, in general, VAT is not payable with respect to the activities of a representative office and VAT registration is not permitted. MSMEs should be truly empowered and they should have access to credit, he said adding the government cannot tie the hands of industries with ”GST and demonetisation” and ask them to compete with China. The aforementioned taxable services are the following two spe­cific types of services: The term “processing services” means services supplied by a contractor for producing goods in accordance with a customer’s specifications by using raw materials and principal parts con­signed by the customer. “When we come to power in Delhi we will restructure the GST and give you one tax, minimum tax,” he said. Special rules apply to mixed transactions consisting of sales of taxable goods and supplies of taxable services. Input tax is not creditable for any purchases that are directly related to making exempt supplies. Manufacturing enterprises (assuming no tax-exempt raw materials). Gulf Security Technology Co., Ltd, GST, is a key player in the Asia fire and security industry and a trusted provider of comprehensive fire system solutions around the world. Foreign enterprises that do not sell goods or taxable services in China may not register for VAT. For small-scale VAT taxpayers who are eligible for quarterly VAT filing, their quarterly sales or turn­over could be exempted from VAT if the amount is not more than CNY90,000. Circular 106 covers two additional VAT pilot service sectors, railway transportation and postal services, and also integrates a number of significant changes to the VAT pilot rules aiming to introduce enhancements to some of the VAT pilot areas such as finance leasing and international freight forwarding where strong feedbacks have been received from taxpayers. Only the following ser­vices specified by law could be applicable to the netting mecha­nism: If a pilot taxpayer concurrently sells goods, provides processing and maintenance services and provides VAT pilot services, it must separately account for the different supplies that are subject to different VAT rates. Doing away with business tax and other taxes and switching to VAT has contributed to bursting of the Chinese real estate bubble. With the changes made since the 1994 tax reform, China has sought to set up a streamlined tax system geared to a socialist market economy. The term “repair and replacement ser­vices” means repairing damaged taxable goods and returning them to their original condition. A special VAT invoice must contain the following information: The supplier may not issue a special VAT invoice for the follow­ing: Red-letter invoice (credit note). Here, we highlight five major changes to the new VAT policies. The reduced rate of 13% applies primarily to essen­tial goods and services. Where a foreign enterprise is engaged in construction, installa­tion, assembling or exploration, or provides services in China, it shall provide the relevant certificates or materials and go through the formalities for tax deregistration with its original tax authori­ties after the project is completed and no less than 15 days before its departure from China. Partial exemption. The restaurants and food delivery sector has demanded that goods and services tax (GST) on home delivery of food be reduced to five per cent from 18 per cent now to boost the USD 3 … Taxable persons that make taxable supplies and other supplies (such as exempt supplies and outside the scope supplies) are only entitled to claim input VAT incurred in making their taxable supplies as credits. The supply of goods (such as cigarettes, alcohol, foods, gar­ments, shoes, hats and cosmetics) to ultimate consumers by VAT taxpayers that engage in retail sales. Non-established businesses and foreign enterprises. Exempt supplies. A distinction is made between a move­ment of goods to a branch for the purpose of sale to customers and movement of goods to a branch for storage. To claim input VAT credits, a taxable person must comply with the following conditions: A taxable person may recover input VAT as soon as it has a valid VAT invoice or a tax certificate issued by the customs authorities or other valid supporting documents. This proce­dure is commonly known as the “VAT export refund.” However, the VAT exemption with credit mechanism does not apply to certain types of goods. If VAT payments cannot be made on a fixed-period basis, VAT may be paid on a transaction basis. On 24 March 2016, the MOF and SAT jointly released Caishui [2016] No. Site best viewed at 1024 x 768 resolution in Internet Explorer 10+, Google Chrome 49+, Firefox 45+ and Safari 6+ Construction services applicable to simplified methods, Sale of immovable properties developed by the real estate com­panies that are general VAT payers, VAT amounts indicated on special VAT invoices issued by the sellers or service providers, VAT amounts indicated on import VAT payment certificates, 13% of the purchase value of agricultural products purchased from primary agricultural producers or agricultural cooperative societies unless special VAT invoice or import VAT payment certificates are obtained, The input VAT on road, bridge and gate tolls paid by general VAT taxpayers can be calculated on the basis of the fee amount indicated in the toll invoice received by the taxpayers, VAT amounts indicated on the tax clearance certificate (with­holding VAT) obtained from the tax bureau if a payment is made to an overseas VAT pilot service provider, In addition, with respect to motorcycles, cars and yachts for which consumption tax shall be collected, the input tax associ­ated with the purchases is allowed to be deducted from the output tax, International transportation services, including transportation services for Hong Kong, Macau and Taiwan, Radio, film and television programs (works) production and distribution services, Offshore outsourcing services, including information technol­ogy outsourcing (ITO), business process outsourcing (BPO) and knowledge process outsourcing (KPO), Construction service with the construction project outside China, Engineering supervision services with the construction project outside China, Engineering survey services with the engineering and mineral resources outside China, Conference and exhibition services for conferences and exhibi­tions that take place outside China, Warehousing services for storage locations outside China, Tangible personal property leasing services with the subject used outside China, Radio, film and television programs (works) broadcast services, Cultural and sports services, education and medical services, tourism services provided outside China, Postal service, collection and dispatching service and insurance services provided for export goods, International transportation services that are not eligible for a zero VAT rating, Transportation services from and to Hong Kong, Macau and Taiwan, as well as transportation services in Hong Kong, Macau and Taiwan that are not eligible for a zero VAT rating. Declaration forms required by tax authority for exemption, deduction or refund of tax on exported goods, Foreign exchange declaration for the export of goods (copy for export refund), For goods exported on assignment, verification issued by the assignee for the export of the goods and a photocopy of the export agency agreement, Foreign exchange declaration for the export of goods, VAT invoice (credit copy), declaration by batch form for imported goods with export refund, tax payment certificate for imported goods, For goods exported on assignment, verification certificates issued by assignee’s in charge tax authorities for the export of goods on assignment and a photocopy of the export agency agreement, For items subject to consumption tax, consumption tax payment certificate, consumption tax payment certificate for imported goods, Land transportation including railway transportation, Engineering reconnaissance and exploration services, Loading-unloading transportation services, Production services for radio, film and television programs (works), Distribution services for radio, film and television programs (works), Broadcast (including screenings) services for radio, film and television programs (works), General VAT taxpayers, which are VAT taxpayers providing VAT pilot services with annual turnover of CNY5 million or more, Small-scale VAT taxpayers, which are VAT taxpayers providing VAT pilot services with annual turnover of less than CNY5 million, Sales of immovable properties acquired or developed after 1 May 2016, Leasing of immovable properties acquired or developed after 1 May 2016, Sales of immovable properties acquired or developed before 30 April 2016, Leasing of immovable properties acquired or developed before 30 April 2016, Transfer of land use right acquired before 30 April 2016, Financial leasing contract signed before 30 April 2016 by gen­eral taxpayers or financial leasing services with leasing object being immovable properties and the properties were acquired before 30 April 2016 (optional), Interest income from agricultural loan provided by Agricultural Development Bank of China and its affiliates. With a sales infrastructure that covers many countries and regions, and includes a China-wide network of more than 120 sales offices and several logistics centers, GST has become an important part of Carrier¡¯s global business. However, subject to the approval of the tax authorities, the head office of an enterprise may be allowed to submit combined VAT returns for branches located in different counties (municipalities). By default, a move­ment of goods from one branch to another is deemed to be for the purpose of sale to customers unless the enterprise can prove that it fulfills both of the following conditions to the satisfaction of the tax authorities: If both of these conditions are fulfilled, the goods may be regard­ed as being moved to a branch for pure storage purposes and the transaction is not liable to VAT. It is a subsidiary of Carrier (Carrier Global Corporation), a leading global provider of innovative HVAC, refrigeration, fire, security and building automation technologies. In general, sales of secondhand taxable goods by taxable persons are chargeable to VAT on a simplified basis at a rate of 3% with a further reduction to 2%. Taxpayers can log in to the tax declaration website with a U-key and file the electronic VAT tax return with the relevant appendix. Any person who imports goods into China is liable to pay VAT at the point of entry, at the same rates applicable to the sale of similar goods in China. 1. Until 31 December 2016, cross-border e-com­merce (export services) in the Hangzhou pilot area is exempt from VAT. With the exception of certain types of goods, exports of goods are generally exempt with credit; that is, input VAT previously paid on the purchase of goods and services used for the produc­tion of goods for export is refunded on application. Where a change of tax registration authorities is required for a taxpayer due to a change in its domicile or business place, the taxpayer shall provide the relevant certificates or materials and go through the formalities for tax deregistration with its original tax authorities before it proceeds to modify registration or deregister with the industry and commerce administrative authorities and other relevant bodies, or to change its domicile or business place. It must maintain a reliable accounting system and provide accu­rate information for assessing its VAT liabilities. A VAT tax period may be 1 day, 3 days, 5 days, 10 days, 15 days, 1 month or 1 quarter. Rahul Gandhi assures revisiting GST when Congress is voted to power at Centre; ... said there was the need to promote MSMEs, to compete with countries like China and Bangladesh. A taxable person must pay the VAT due on imported goods within 15 days after the date following the date on which the customs authorities issued the import duties statement. Ministry of Finance (MOF) State Administration of Taxation (SAT) (http://www.chinatax.gov.cn), VAT pilot (for details, read below article), XXXXXXXXXXXXXXXXXX (for entities established 1 October 2015 or later; 1-digit Registration Management Department code + 1-digit entity type code + 6-digit administrative division code + 9-digit organization code + 1-digit verification code), XXXXXXXXXXXXXXX (for entities registered before 1 October 2015; 6-digit administrative division code + 9-digit organization code), Tax periods range from one day to one quarter, Monthly turnover from CNY5,000 to CNY20,000 for supplies of goods, Monthly turnover from CNY5,000 to CNY20,000 for supplies of services, Daily turnover from CNY300 to CNY500 (the local tax offices set the actual thresholds within the above ranges; see article below), The supply of goods or taxable services for consideration in China, by a taxable person in the course or furtherance of any business, The importation of goods into China, regardless of the status of the importer. The enterprise to be established on 1 October 2015 and afterward should apply to the administrative departments of industry and commerce for the business licenses with a unified social credit code, which could be used for tax affairs purposes. GST in China is applicable only to goods and the provision of repairs, replacement and processing services. “Small businesses” account for VAT at a rate of 3% on a simplified, flat-rate basis if input VAT paid on purchases is not deductible. GST South America Colon 730, 6700 Lujan Phone: 011.54.2323.427469 Fax: 011.54.2323.427694 Buenos Aires, Argentina GST China Unit 601, No. Local tax offices have the discretion to deter­mine the actual thresholds within these ranges, depending on the economic conditions within the relevant municipality or county. Group registration. The accounting books, accounting vouchers, statements, receipts of tax payments, invoices, vouchers for exportation and other tax-related materials shall be kept for 10 years unless otherwise specified in the laws and administrative regulations. Under the current business regulatory rules, a representative office of a foreign enterprise may engage only in certain activities, such as liaison and support. In 1997 this increased to 5% and Japan went into recession. The standard rate of VAT is 13%. A value-added tax (VAT), known in some countries as a goods and services tax (GST), is a type of tax that is assessed incrementally. In China, VAT tax periods vary in length. If consideration received by a VAT pilot service provider is VAT-inclusive, the following is the calculation of the sales amount: Sales amount = VAT-inclusive sales amount / (1 + Applicable VAT rate). For the water, electricity and gas supplied to the special areas, the manufacturing enterprises within the special areas, as the pur­chasers, shall be responsible for declaring the tax refund. Examples of goods and services taxed at the 3% rate, Examples of goods and services taxed at the 13% rate. China completed Value Added Tax* (VAT) reforms in 2016 to replace its conflicting Business Tax system. Sales of services would include the following: Research and development (R&D) and technology services. Designated Tax Free Stores Currently, there are over 200 designated tax free stores in Beijing, about 180 in Shanghai, 33 in Chengdu of Sichuan, 69 in Shenzhen, 34 in Tianjin, 33 in Qingdao, 10 in Xiamen of Fujian, 9 in Qinhuangdao of Hebei, 2 … According to Circular 36, the fol­lowing services rendered by domestic entities or individuals to overseas entities and consumed entirely outside of China are subject to a VAT zero rating: The provision of the following cross-border services as specified in Circular 36 could be exempt from VAT: Please note that although SAT announcement [2016] No. Calculation of VAT payable (Calculation #3) A movement of goods between branches located in different counties (municipalities) is subject to VAT regardless of whether any consideration is paid. VAT payable = Output VAT due on sales for the period – Creditable input VAT (as determined in Calculation #2). Taxable persons that supply items eligible for tax exemption or tax reduction must book these sales separately. GST provides a wide range of fire products and customized fire system solutions tailored to the needs of different industries. And the electronic invoice pilot has been expanded to the whole nation since 1 December 2015. The announce­ment also mentioned that in 2013 the VAT pilot would expand further and that certain industries would be selected to be includ­ed in the VAT pilot on a nationwide basis. VAT invoices are issued and printed through the Golden Tax System (GTS) – a tax control system connected to the database of the tax authorities. The following is the calculation for output VAT: Output VAT = Sales amount x Applicable VAT rate. input VAT brought forward from previous period. Scope of the VAT pilot. The 3% rate applies to supplies under simplified VAT calculation methods or supplies by small-scale VAT taxpayers (small businesses). If sales discount is given after an invoice has been issued, the original invoice must be returned and “invalid” written clearly on it before re-issuing a new invoice, or a red-letter invoice shall be issued after a notification is obtained from the other party. The 17% rate applies unless another rate is speci­fied by law. After approval, enterprises or other entities shall make the declaration on VAT refund (exemption) and exemption with the competent authority within the declaration period of VAT payment. If a tax officer is of the opinion that a taxable person has underpaid the VAT due, the officer may issue an assessment based on the correct figures or on an esti­mate. Electronic filing and archiving. Transactions between branches. The taxpayer shall decide in advance on a conversion rate and may not change it within 12 months once such a conver­sion rate is determined. We have predefined buttons on this Chinese GST Calculator, so you get easy calculations instantly. Once the choice is made, the taxpayer cannot switch back to applying for VAT exemption within 36 months. A “small business” is defined as either of the following: On approval by the local tax authorities, a small business may elect to pay VAT in accordance with the relevant provisions appli­cable to a general taxable person if it can demonstrate that it has a sound accounting system, maintains proper accounting records, and is capable of generating accurate information for VAT assess­ment purposes. Taxable services rendered to overseas entities or units and consumed entirely outside China: Logistics and supporting services (excluding warehousing services, collecting and dispatching services), Advertising services for advertising that takes place outside China, International transportation services provided by non-transport operating carriers, Direct chargeable financial services provided for the monetary financing between entities outside the territory and other finan­cial business operations, which are not related to any goods, intangible assets or real property within the territory. A general VAT taxpayer must reg­ister and procure approved VAT invoices from the tax authorities. Foreign-currency invoices. If the refund involves returns from the State Treasury, the refund shall be given according to the provisions of laws and administrative regulations relating to the administration of State Treasury. In general, exports of goods are “exempt with credit” (or taxable at 0%). For supplies of goods made through a consignment agent, the VAT payable by the consignor is due when the consignor receives the sales confirmation list or the payment from the consignment agent, whichever is earlier. 106 (Circular 106) issued by the Chinese Ministry of Finance (MOF) and the State Administration of Taxation (SAT) on 12 December 2013. Following the 2012-16 VAT reforms, there are only four … In general, food and beverages supplied by catering businesses such as hotels, restaurants, cafes, public houses and caterers are treated as the provision of services rather than supplies of goods. A special valuation method applies if a deemed supply of services exists or if the sales amount for VAT pilot services is found to be too high or low without a reasonable commercial purpose. Under the VAT pilot rules, the following are the two classes of VAT taxpayers: It is possible for small-scale VAT taxpayers to voluntarily apply to become general VAT taxpayers. Later, it was reformed in the year 2007, with rate of 11 % for transport, telecom, postal and 6 % for IT, Telecom, consulting, broadcast etc., Branches of the same enterprise are required to register separately for VAT, unless the head office and the branch(es) are located in the same county (municipality). 29 has set out the detailed guidance on the application of VAT exemp­tion, local state tax bureaus might issue their own practice requirements in response to the announcement. The Chinese VAT tax periods vary in length. Special schemes. Input VAT is not creditable on the acquisition or importation of the following items: “Abnormal losses” include losses resulting from a range of events including theft, decay or deterioration of goods as a result of poor management, but excluding normal wear and tear sustained in the ordinary course of the taxable person’s business. Non-deductible input tax. For a taxable person carrying on a com­mercial business that involves the purchase of taxable goods in China for export, the following are the calculations of the VAT export refund and the input VAT disallowance: VAT export refund = Price paid for the purchase of Upon discovering that a taxpayer has paid an amount in excess of the tax payable, the tax authorities shall immediately refund the excess amount to the taxpayer. China does not refund VAT to businesses that are not established there. Taxable persons that have a VAT tax period of 1 month or 1 quar­ter must submit VAT returns and pay the VAT due on a monthly or quarterly basis within 15 days after the end of the period. The taxable person must also designate and register an individual employee as a representative who is responsible for administer­ing the custody and control of VAT invoices. Consequently, VAT registration and the payment of VAT are not issues for non-established businesses. 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