The Change Of Two Accounting Standards On The Pfer Of Individual Tax Can Not Be Hard To Move.

Fiscal 116 [2015] No. 116 finally came out of a thousand calls, but as Grandpa Bai Juyi said, it is still "half a face".

Two ministries and commissions have not yet made clear the issue of personal income tax exemption for capital gains which have been widely concerned before.

The interpretation and supplementary provisions of the State Administration of Taxation on the approval of the personal income tax granted by the original urban credit cooperatives in the process of pferring the value of individual shares to the urban cooperative banks (the tax Letter No. 1998] 289) and supplementary provisions: the "capital accumulation fund" referred to in the 198 document of the national tax issuance [1997] refers to the capital accumulation fund formed by the share premium issuance income of the joint-stock enterprises.

The personal income tax shall be levied on the amount of the capital pferred by the individual and not as taxable income.

And other capital reserves that do not conform to the distribution of personal income shall be subject to individual income tax in accordance with the law.

We have talked about the concept of "joint stock company" including limited liability company.

Let's talk about the content of "non tax capital accumulation". Last time we talked about the accounting system of the pilot enterprises of shareholding system.

Excerpts from the basic accounting standards for business enterprises implemented in July 1, 1993:

The thirty-ninth investment capital is the various assets and materials that investors actually put into the business activities of enterprises.

The invested capital should be accounted for according to the actual investment amount.

The issue of shares by a joint stock enterprise shall be accounted for as capital stock according to the face value of the shares.

Special appropriations allocated by the state to enterprises shall be accounted for as state investment unless otherwise stipulated.

The fortieth capital reserve includes equity premium, statutory property revaluation increment, and the value of assets to be donated.

Excerpts from the enterprise accounting system promulgated by the Ministry of Finance in December 29, 2000:

The paid in capital of the eightieth enterprises refers to the actual capital invested by the investors in accordance with the articles of association, contracts or agreements.

(1) the average paid up capital of a general enterprise shall be accounted for as follows:

The capital invested by the investor shall be accounted for as the paid in capital by the amount actually received or deposited in the Bank of the enterprise.

The amount actually received or deposited in an enterprise's opening bank exceeds its share in the registered capital of the enterprise and shall be included in capital reserve.

The eighty-second capital reserves include capital (or equity) premium, acceptance of donated assets, pfer of funds, and conversion of foreign currency capital.

Capital surplus projects include:

(1) capital (or equity) premium refers to the amount of capital invested by an enterprise investor in excess of its share in the registered capital.

These two accounting norms should be able to reflect the policy environment of accounting at that time before and after the statute of 198 of the national tax [1997] and the 289 of the national tax letter [1998].

We can see that in the 1993 accounting standards, enterprises should include all the actual amount of investment into the "capital invested".

Therefore, the capital reserve for calculating the premium is only known as "equity premium" (accounting for the premium generated by Limited by Share Ltd stock issue).

In the 2000 accounting system, there was a general enterprise (non Limited by Share Ltd) accounting for more than the share of the registered capital in capital accumulation.

Therefore, the capital surplus calculated in this system is called "capital (or equity) premium".

This view should be followed in future accounting standards.

Through analysis, we can comb out the following points:

1.

When issued [1997] 198, state tax letter [1998] No. 289, only the premium generated by Limited by Share Ltd issuing shares was invested as an investor in the "capital accumulation" accounting, while the investment of other enterprises was 1:1 in the "capital invested" accounting.

2, after the 198 of national tax [1997] and the 289 of the national tax letter [1998] 289, the disposal of non Limited by Share Ltd will exceed the share of registered capital into capital surplus.

3, capital premium has been the same concept as equity premium since its birth.

Therefore, although the national tax letter [1998] 289 does not expressly regard capital premium as a capital surplus without tax.

But this document is based on the provisions of the historical environment at that time, and it can not foresee the subsequent accounting and policy changes.

Therefore, excluding the capital premium only in the 289 letter of the national tax letter [1998]

The tax free treatment seems to be written in theory, but in fact it is biased.

Secondly, from the following accounting standards, it is proved again that capital premium and equity premium are the same thing.

Since the equity premium is converted into capital gains, the personal income tax is not collected as taxable income.

The treatment of capital premium should be the same.

Finally, let's talk about the 116 issue of taxation [2015].

The document stipulates:

1. since January 1, 2016, small and medium-sized high-tech enterprises across the country have

When surplus capital and capital reserve are added to individual shareholders, it is difficult for individual shareholders to pay personal income tax at once. According to the actual situation, the installment tax plan can be made by itself and paid in installments within no more than 5 calendar years (including), and the relevant information will be reported to the main tax authority for record.

If a 2. shareholder obtains the increased capital stock, he shall apply the 20% tax rate to the individual income tax according to the item "interest, dividends and bonuses".

We must pay close attention to the tax item "interest, dividends and dividends".

In fact, we have applied this tax item to individual income tax on capital reserves and retained earnings.

What is "interest, dividends, bonus income"? Simply put, if the personal debt investment and equity investment are likened to chicken, interest, dividends and dividends are the eggs laid by chickens.

Then, is the capital premium a chicken or an egg? Of course it's a chicken!

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