Enterprises' "Going Out" Needs To Do Well In Tax "Homework".

Under the influence of the international financial crisis, the developed countries' fiscal revenue pressure is high, and more attention is paid to overseas tax collection and management.

Analysts believe that under such circumstances, strengthening international tax cooperation and collection and management has become the consensus of many countries and the direction they are focusing on. This will undoubtedly bring multiple challenges to the "going global" enterprises.

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And in the trend of asset globalization, in order to strengthen tax collection and management and crack down on cross border avoidance tax, BEPS (action plan to prevent tax base erosion and profit pfer), CRS (automatic exchange standard for tax related information on financial accounts), and FATCA (US overseas account tax compliance act) should be delivered.

Li Linjun, vice president and Secretary General of the China registered tax Association, said at the "2016 China Tax Law Forum and the Fifth China tax lawyer and tax collector forum" held in Beijing recently.

Insiders said that these action plans marked the turning point of international taxation, and "going global" enterprises will face more tax challenges.

"Previously, the focus of international taxation was to prevent double taxation, but after that, the emphasis would be on preventing double taxation and combating international tax avoidance.

The number of action plans introduced is rich in content, and "going out" enterprises will undoubtedly face more and more tax risks.

Deng Yuanjun, director of the Finance Department of Beijing State Taxation Bureau, said.

Take the BEPS action plan as an example, He Yang, vice president of the school of Finance and taxation, Central University of Finance and Economics, said financial institutions.

The automatic information exchange will have an important impact on financial institutions, and the automatic exchange of information on national reports such as pfer pricing will also have a great impact on pnational corporations and groups.

In regard to specific proposals, Duan Tao, partner of Jin Du law firm, said that when conducting overseas investment, enterprises should pay attention to tax authorities regarding controlled foreign companies.

Capital weakness supervision, financial audit and foreign exchange control requirements.

At the same time, considering the impact of tax base erosion and profit pfer, we should increase the economic essence as far as possible and avoid setting up target enterprises directly in tax havens.

In addition, enterprises should make full use of the provisions of the tax agreement, the host country's internal tax law and the target country's internal tax law to reduce the tax burden of the relevant subjects.

In addition, experts call for tax service providers and platforms to constantly improve their professional capabilities, provide more professional tax services for enterprises to "go out", and explore Internet plus tax service platforms to meet the new situation and new mission of Tax Governance modernization and rule by law.

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Account books are important archives of enterprises. Enterprises should replace the new accounting books at the beginning of the accounting year and keep the old books in good order.

Replacement of account books

Generally speaking, the general ledger, subsidiary ledger, cash and bank journal should be changed once a year, but the fixed assets ledger or fixed assets card can be used for a long time.

Generally speaking, when the new account is opened, it can directly calculate the corresponding account books at the year-end balances of the old accounts, and specify the "last year's balance" in the "summary" column of the first line of the new account, and balance the balance into the "balance" column.

Two. Custody of account books

After all the old ledger and loose leaf account is reconciled, and all the loose leaf booklets are finished, and the cover is signed and stamped by the competent person, all the booklet and loose leaf account should be handed over to the archivists in a timely manner.

When filing, a "accounting bookkeeping registration form" should be prepared and clearly defined.

The accounting booklet should have a certain duration of custody. According to its characteristics, it should be divided into two categories: permanent and regular.

As far as enterprise accounting is concerned, the state stipulates that the period of custody of accounting vouchers is 15 years, of which accounting vouchers involving foreign affairs and important matters are kept permanently; in accounting books, general journal accounts for 15 years, cash and bank accounts are kept for 25 years, subsidiary accounts and general ledger accounts for 15 years, fixed capital cards are kept for 5 years after the scrapping of fixed assets, accounting books for 15 years, accounting books for foreign affairs and important matters are kept in permanent custody, accounting statements are kept in an annual accounting statement, and accounting reports for months and seasons are kept for 5 years.

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