In October 2003, the State Council reformed the export tax rebate mechanism, and from January 1, 2004, a new export tax rebate policy was implemented. The new policy abandons the original "monthly pre-declaration and quarterly summary declaration" and implements the method of "monthly summary declaration". Although the monthly tax rebates theoretically accelerate the frequency and progress of tax refunds, but due to the serious lag in tax refunds, resulting in the production of enterprise funds accounted for the pressure, in fact, is equivalent to the loss of this part of the time value of money. Therefore, the production enterprise timely use of the time value of money, do a good job of tax planning for tax exemption, credit, refund is very important.
For example: a production enterprise produces both domestic and foreign sales of products, in April 2004, May are not tax-free purchase of raw materials, VAT rate of 17%, the tax rebate rate of 13%. Other relevant information is as follows:
(1) in April, a batch of export products for customs clearance, export FOB price of 2 million yuan, domestic sales of products to achieve sales revenue of 1 million yuan, the purchase of raw materials in the same month to obtain VAT invoices for the input tax amount of 340,000 yuan.
(2) in May, the export of products declared exports FOB value equivalent to 3 million yuan, the month of domestic sales of products to obtain sales revenue of 1 million yuan, the month of purchase of raw materials to obtain VAT invoices for input tax amounted to 340,000 yuan.
The amount of tax refundable in April and May is calculated as follows:
(1) Tax payable in April=100×17%-[34-200×(17%-13%)]=-9 (million yuan);
Tax credit = 200 × 13% = 26 (million yuan);
The amount of tax refundable in April is 90,000 yuan;
The amount of tax credit in April = 26-9 = 17 (million yuan).
(2) Tax payable in May = 100 × 17% - [34 - 300 × (17% - 13%)] = -50 (million yuan);
Tax credit = 300 × 13% = 39 (million yuan);
The amount of tax refundable in May is 50,000 yuan;
The amount of tax credit in May=39-5=340 (yuan).
The above calculations show that the enterprise has a tax refund due in April and May. However, due to the tax rebate target problem, the rebate may just be a false target, the actual rebate amount may take half a year or more to the real refund to the enterprise, or even because the rebate can not be put in place and long-term accounts, resulting in the production of funds accounted for the pressure of the enterprise. Now the following planning:
Program 1, other circumstances remain unchanged, adjust the export sales. If the export sales in April is 4.25 million yuan, in May is 750,000 yuan, then (1) April taxable amount = 100 × 17% - [34 - 425 × (17% - 13%)] = 0;
Tax exemptions and refunds = 425 × 13% = 55.25 ( million yuan);
The enterprise pays neither tax nor refund in April.
The amount of tax credit for April is 552,500 yuan.
(2) Tax payable in May = 100 × 17% - [34 - 75 × (17% - 13%)] = -140,000 yuan (万元)；
Tax credit = 75 × 13% = 97,500 yuan (万元)；< /p>
Because the ending tax allowance of $140,000 is greater than the tax credit of $97,500, the tax refund due for May is $97,500.
The tax credit for May is zero, and after the tax refund, there is still $42,500 (14-97,500) to be continued as a tax credit in the next period.
Option 2, all other things being equal, adjust the input tax. If the input tax amount is 250,000 yuan in April and 430,000 yuan in May,
(1) taxable amount in April=100×17%-[25-200×(17%-13%)]=0;
credit tax amount=200×13%=26 (million yuan);
The enterprise pays neither tax nor refund in April.
The tax credit for April is 260,000 yuan.
(2) Tax payable in May = 100 × 17% - [43 - 300 × (17% - 13%)] = -14 (million yuan);
The amount of tax credit = 300 × 13% = 39 (million yuan);< /p>
The amount of tax refundable in May is 140,000 yuan;
The amount of tax credit in May=39-14=250 (yuan).
Option 3, all else being equal, adjust the amount of domestic sales. If the sales revenue from domestic sales is 1,529,400 yuan in April and 470,600 yuan in May, then (1)
Tax payable in April = 1,529,400 × 17% - [34-200 × (17% - 13%)] ≈ 0 (million yuan);
Tax exemption = 200 × 13% = 26 (million yuan);
The enterprise pays neither tax nor tax refund in April.
The tax credit for April is 260,000 yuan.
(2) Tax payable in May=47.06×17%-[34-300×(17%-13%)]≈-140 (million yuan);
The amount of tax credit=300×13%=39 (million yuan) ;
The amount of tax refundable in May is 140,000 yuan;
The amount of tax credit in May=39-14=250 (million yuan).
Through comparative analysis, it is not difficult to see: in terms of the enterprise before and after the planning of the relevant situation in April, from the point of view of the tax rebate indicators, compared with the pre-planning, the three programs of the rebate of false indicators (because of its large extent and can not be put in place or a serious lag, so it is in fact a kind of false indicators) are 90,000 yuan less (9-0); from the point of view of the amount of tax exemption, the program In terms of tax credits, Option 1 is $382,500 ($552,500-17) more; Options 2 and 3 are $90,000 ($26-17) more. As for the overall situation in April and May, the implementation of the planning program did not change the total amount of tax refunds (both 140,000 yuan).
So the actual planning effect of the above program is: the enterprise in a certain period of time by adjusting the factors affecting the calculation of the amount of tax rebate, including the size of export sales, the size of input tax, the ratio of internal and external sales, etc., so that the amount of tax rebate in the previous period is zero, that is, the enterprise maintains the equilibrium state of neither tax payment nor tax rebate, and the amount of tax exemptions and credits to reach the maximum, fully offsetting the amount of tax on the domestic sales of goods to avoid a very large amount of refundable tax in the previous period, and to avoid a large amount of tax refund. The amount of tax refundable in the early stage is very large and can not be in place caused by the production of funds accounted for the pressure.
It is worth mentioning that, in the actual operation, the enterprise should be based on the actual situation, in accordance with the principle of feasibility, under the premise of ensuring sufficient offsetting of taxable amount of domestic sales of goods, the monthly optimal export sales declaration limit, the optimal input tax deduction limit and the optimal ratio of domestic and foreign sales are measured in advance and the optimal timing of the declaration is selected, so as to make the enterprise keep the equilibrium of neither paying nor refunding the tax. In order to maximize the use of the time value of money, and to do a good job of tax exemption and refund planning.
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