After e-cigarettes are listed as new tobacco, how to levy taxes? This topic has always attracted the attention of the industry. E-cigarette is classified as a new type of tobacco, and it is beneficial to the healthy development of e-cigarette industry to be brought into the unified management of the State Tobacco Monopoly Bureau. So today, Bian Xiao is here to sort it out for everyone. Let's take a look!
Add e-cigarette subtitle under tobacco tax.
E-cigarette refers to the electronic transmission system used to generate aerosol for people to smoke, including cigarette bombs, smoking utensils and electronic cigarette products sold in combination of cigarette bombs and smoking utensils, where cigarette bombs refer to electronic cigarette components containing atomized substances; Smoking set refers to an electronic device that atomizes atomized substances into inhalable aerosols.
In June last year, 5438+065438+ 10, in the revision decision of the Regulations on the Implementation of the Tobacco Monopoly Law, it was clearly stated that "new tobacco products such as electronic cigarettes shall be implemented with reference to the relevant provisions of cigarettes". This year, the "Administrative Measures for Electronic Cigarettes" and the national standards for electronic cigarettes have been issued one after another, which means that the trend of collection and management of electronic cigarettes is gradually aligning with traditional tobacco.
The "Announcement" clarifies that e-cigarettes will be included in the scope of consumption tax collection, and e-cigarettes will be added under the tobacco tax; The production (import) link tax rate is 36%, and the wholesale link tax rate is11%; Taxpayers export electronic cigarettes to implement export tax refund (exemption) policy; E-cigarettes will be added to the list of imported goods that are not duty-free and taxed according to regulations.
"The consumption tax on e-cigarettes is an important step for the state to regulate e-cigarettes as reference cigarettes." Xie Zongbo, a financial writer and senior certified public accountant in Australia, told the First Financial Reporter.
The traditional way of collecting tobacco consumption tax in China is "ad valorem for production+ad valorem for wholesale". According to the current tax rate, in industrial production, the tax rate of Class A cigarettes is 56% plus 0.003 yuan/cigarette, and that of Class B cigarettes is 36% plus 0.003 yuan/cigarette. In the commercial wholesale of cigarettes, the tax rate is 1 1% plus 0.005 yuan/cigarette. It is estimated that the comprehensive tax rate of cigarettes in China is 66.6%.
Xie Zongbo said that the regulations issued by the three departments this time calculate the tax on e-cigarettes by ad valorem. The production (import) link tax rate is 36%, and the wholesale link tax rate is 1 1%. It can be seen that the consumption tax on e-cigarettes is levied with reference to Class B cigarettes, which reduces the "specific tax" part, which can be said to be slightly lower than the tax burden of Class B cigarettes. It can be seen that the state has adopted a step-by-step approach to the regulation of the e-cigarette market, and there is still room for further taxation.
It is worth noting that the consumption tax collection rules still encourage the export of e-cigarettes, and it is clear that taxpayers export e-cigarettes and apply the export tax refund (exemption) policy.
According to the Blue Book of E-cigarette Industry Export in 2022, the global e-cigarette market will exceed 654.38+008 billion US dollars in 2022. It is estimated that the overseas e-cigarette market will maintain a growth rate of 35% in 2022, and the total scale will exceed $654.38+000 billion. As for the export of e-cigarettes in China, it is estimated that the total export of e-cigarettes will reach 654.38+086.7 billion yuan in 2022, with an estimated growth rate of 35%.
At present, there are more than 1.500 e-cigarette manufacturing and brand enterprises in China, including more than 1.200 manufacturers, more than 200 e-cigarette brand enterprises and about 1.20 cigarette oil enterprises. More than 70% of enterprises mainly export products overseas.
A number of e-cigarette industry practitioners told the First Financial Reporter that they will continue to be optimistic about overseas markets in the case of tightening domestic policies, and the tax rules have no restrictions on exports, which is a big plus for the industry.
Will e-cigarettes increase in price?
According to the data in "Blue Book of E-cigarette Industry 202 1", the market size of e-cigarette industry in China reached 654.38+09.7 billion yuan in 20021year, up 36% year-on-year.
For the domestic market, the main consumers of e-cigarettes are young men, young women and adult students. At present, the unit price of e-cigarettes is concentrated in 100~200 yuan/tablet, accounting for nearly half, followed by 50~ 100 yuan/tablet, accounting for nearly one third.
Does the current substantial increase in tax revenue mean that the retail price of e-cigarettes in the market will also increase? A number of e-cigarette retail store owners told the First Financial Reporter that there is no news of price increase at present, and if the purchase price will rise, the retail price will definitely rise.
A professional who pays attention to the taxation of e-cigarettes revealed to the First Financial Reporter that whether the price of e-cigarette related products will increase immediately depends on the situation. A company decided to quit and cut prices after a short clearance; In the long run, the consumer price of the terminal will be pulled up because of the substantial increase in tax costs.
Guo Ren, a global partner of Yingke (Shanghai) Law Firm, believes that the introduction of tax rules has increased the tax cost of the whole industry and reduced the profit of the industry. In the future, it may be compensated by price increase, and the cost of consumers buying e-cigarettes may increase.
"The increase in e-cigarette consumption tax will significantly increase the operating cost of e-cigarettes, and the price increase of e-cigarettes will be inevitable." Xie Zongbo also believes that it is obvious that the tobacco industry has set a higher consumption tax, because tobacco has a greater negative impact on health, and the World Health Organization also suggests reducing tobacco consumption by raising the tobacco tax rate.
Xie Zongbo added that the consumption tax on e-cigarettes will drive up the price of e-cigarettes, which will obviously inhibit the consumer market of e-cigarettes industry and greatly reduce consumers' desire to buy. Judging from the development of e-cigarette market in Korea, Indonesia and other countries that have introduced e-cigarette tax policies in the early stage, the popularity of e-cigarette market in these countries has generally declined after taxation.
What are the leading stocks of e-cigarette concept?
Chang Ying Precision 300 1 15;
In recent 7 days, the share price of Chang Ying Precision fell by 12.22%, and by -94.3 1% in 2022, with the highest price of 12.37 yuan and the market value of12.875 billion yuan.
According to the semi-annual report of 20 19, the company obtained the supplier qualification of international e-cigarette company JUULLabs and obtained the order.
Tanaka Seiki 30046 1:
Electronic cigarette leading stock, looking back on the past seven trading days, Tanaka Seiki fell for five consecutive days. During the period, the overall decline was 7.66%, with the highest price 13.6 1 yuan and the lowest price 14. 1 yuan, with a total turnover of 4147,000 lots.
The company has not developed automatic production line equipment for producing electronic cigarettes and bombs.
Kerui Technology 002957:
Ke Rui Science and Technology, the leading stock of electronic cigarettes, has fallen by 12.07% in recent seven trading days, with the highest price 16. 16 yuan and the lowest price 16.9 1 yuan, with a total turnover of 306120,700 lots. It has decreased by -66.5438+0% since 2022.
The company's customer in the field of e-cigarettes is JuulLabs, which provides e-cigarette bomb assembly equipment. Founded in 2007, Jules Labs is a well-known electronic cigarette brand operator in the United States, and Jules electronic cigarettes have a large market share in the United States.
Qu Ying Science and Technology 002925:
As the leading stock of electronic cigarettes, the share price of Qu Ying Science and Technology rose by 0.43% in recent 7 days and fell by -84.3% in 2022, with the highest price of 19.27 yuan and the market value of146.63 million yuan.
Domestic e-cigarette leader, focusing on heating equipment for non-combustible tobacco, and its main customers are Philip Morris International Company (IQOS products), the world's largest tobacco company.