A new interpretation of the incremental excess credit tax refund policy in 2019 gradually established an incremental excess credit tax refund system for value-added tax. We will improve the system for refunding excess VAT, optimize the collection and refund process, implement large-scale refunds for excess VAT, and refund in advance the input tax that taxpayers can continue to deduct in the future. Priority will be given to small and micro enterprises, and all existing retained tax credits for small and micro businesses will be refunded in full before the end of June, and the incremental retained tax credits will be refunded in full. Focus on supporting the manufacturing industry and comprehensively solve the problem of tax refunds for retained tax credits in manufacturing, scientific research and technical services, ecology and environmental protection, electricity and gas, transportation, software and information technology services and other industries.
2. Analysis details
By returning undeducted taxes in advance, it directly provides cash flow of about 1.5 trillion yuan to market entities, increases corporate cash flow, and eases the pressure on capital withdrawals. It not only helps to enhance corporate development confidence and stimulate the vitality of market entities, It can also promote consumer investment, support high-quality development of the real economy, and promote industrial transformation, upgrading, and structural optimization.
3. What is the incremental excess tax refund policy for 2019 years?
1. Taxpayers applying for excess tax refund should submit the VAT return for the current period through the electronic tax bureau or tax service office during the prescribed application period for excess credit refund;
2. When calculating the input component proportion of the refundable excess tax credit, the input tax transferred out by the taxpayer in accordance with regulations from April 2009 to the period before applying for tax refund does not need to be deducted from the deducted value-added Special tax invoices, electronic general VAT invoices for toll highway tolls, special customs import VAT payment documents, and tax payment certificates will be deducted from the VAT amount indicated.