VAT Tax Saving Strategy For Imported Goods (1)

In addition to paying customs duties, import and export commodities should also pay the value-added tax according to the amount of their commodities (or added value) in accordance with the tax law.

This part of the tax is levied by the customs and taxation authorities at the import and export port.

Because the tax rate of VAT is as high as 17%, it has an important influence on the profit accounting of enterprises.

As a turnover tax of value tax, the tax burden of VAT is directly reflected in the market price of commodities.

Therefore, in the fierce competition in the international and domestic market, this tax burden determines the competitiveness and market share of commodities to a large extent, thereby restricting the profitability of enterprises.

Therefore, it is of great practical significance for managers to make tax planning and effective tax planning for imported commodities.

In accordance with international practice, our export tax rebate has been implemented.

As for imported goods, they should pay taxes in accordance with the corresponding tax rates and tax links as well as domestic commodities.

The following section will focus on tax planning for import VAT burdens of commodities.

In accordance with the first provision of the Provisional Regulations on value added tax of the People's Republic of China, the value added tax shall be paid in accordance with the provisions of the regulations in respect of the sale of goods within the territory of the People's Republic of China, or the entities and individuals who provide processing, repair, repair, labor and import of goods as VAT taxpayers.

This provision indicates that as long as the import commodities are paid, there is a duty to pay the added value; or, as long as there is an import turnover, there is a duty to pay the added value tax.

We know that the tax burden of commodities is mainly reflected by the tax rate. Therefore, the tax planning for value-added tax of imported goods is mainly based on the choice of tax rates, and the high and low tax rates are corresponding to different taxable objects, and are also different from taxpayers.

Therefore, in order to achieve the effect of tax saving for the import value-added tax, the most important point is whether we can choose preferential tax rate, or choose goods with preferential tax rate.

According to the tax law, some imported commodities can enjoy preferential treatment at low tax rate and tax exemption (i.e. zero tax rate) when importing customs.

So to a certain extent, these commodities provide us with the choice of tax saving.

Next we classify the commodities enjoying preferential tax rates in the tax law.

The second provisional regulations on value added tax: taxpayers selling or importing the following goods: 13%: 1. grain and edible vegetable oil (Note: grain refers to the general term of all kinds of raw grain and finished grain); 2. tap water, heating, cooling, hot water, gas, liquefied petroleum gas, natural gas, biogas, household coal products, 3. books, newspapers, magazines, 4., forage, fertilizers, pesticides, agricultural machinery, agricultural film, agricultural machinery, and other goods stipulated by the State Council 5..

The sixteenth provision of the Provisional Regulations on value added tax stipulates that the following items are exempt from VAT: 1. agricultural products sold by agricultural producers (Note: agricultural primary commodities); 2. of the contraceptive drugs and appliances; 3. of the ancient books and books (notes: ancient books and old books that refer to social acquisitions);