If a company directly donates items to respond to the epidemic to hospitals, how can the corporate income tax be deducted? On February 6, the Ministry of Finance and the State Administration of Taxation released the latest tax policies on donations to support epidemic prevention and control. On the morning of February 7, the Vice Minister of Finance also gave clear instructions on tax incentives related to donations.
1. The speech of the Vice Minister of Finance provided clear instructions on the donation tax policy
On the morning of February 7, we can learn from the speech of Vice Minister of Finance Yu Weiping: For prevention We will intensify efforts to control the epidemic. At the same time, donations from all walks of life are encouraged to alleviate the pressure on medical supplies. The first is to expand the scope of donations so that items can be donated directly to hospitals. and enjoy corresponding tax benefits. Second, the limit on the pre-tax deduction ratio will be lifted. For example, enterprises and individuals who make donations can enjoy policy benefits with full deductions. Third, donated goods are exempt from both value-added tax and consumption tax. Fourth, during the epidemic prevention and control period, no personal income tax is required on personal subsidies and bonuses.
2. How can corporate income tax be deducted if an enterprise directly donates items for epidemic response to hospitals?
According to the clear instructions of Vice Minister of Finance Yu Weiping, at the same time, in the "About Supporting the New Coronavirus" Based on the "Announcement on Donation Tax Policies for the Prevention and Control of the Infectious Pneumonia Epidemic", we can obtain the following information:
For epidemic prevention and control, the latest tax policy for corporate income tax has been adjusted as follows:
1. Assuming that enterprises and individuals donate cash and goods (in response to the new pneumonia epidemic) through public welfare social organizations, people's governments at or above the county level and their departments, etc., then the full amount will be deducted when calculating taxable income.
2. Assuming that enterprises and individuals directly donate items related to the new pneumonia epidemic to hospitals responsible for epidemic prevention and control, then they can enjoy the full deduction of tax income.
The editor has something to say: In the face of the current epidemic, the latest preferential tax policy is not only an indicative document, but its more profound significance is: we need to understand that supporting the new pneumonia epidemic work, in the end How important. Each of us has the obligation to do our best to contribute to the prevention and control of the epidemic!