Small-scale taxpayers selling their own used fixed assets, according to the following formula to determine the sales and taxable amount (3% minus 2% levy):
Sales = tax-inclusive sales / (1 + 3%)
Taxable amount = sales x 2%
Payment of the amount of value-added tax is paid at 70,000 yuan.
Extended Information
From the point of view of purchased fixed assets for VAT credit of input tax, fixed assets refer to:
1. Machines, machinery, means of transportation, as well as other equipment, tools, and appliances related to the production, the period of use of which is more than one fiscal year.
2. Items with a useful life of more than 2 years that are not part of the main equipment for production and operation. (The new accounting standards in '07 on the identification of fixed assets value limitations canceled, as long as the company believes that can be and the useful life of more than one fiscal year can be recognized as fixed assets, in accordance with a certain depreciation method of depreciation.)
3. Longer useful life.
4. Large unit value.
The provisions here are smaller than those in the Business Accounting Standards, and mainly exclude real estate such as houses and buildings, because sales of houses and buildings are subject to business tax, not value-added tax.
Commercial Press English-Chinese Securities and Investment Dictionary explains: Fixed asset. Fixed asset. Fixed assets are tangible assets with a long life cycle that a company uses for its operations, such as plant and machinery. These assets are usually not immediately convertible into cash, but the company can depreciate them annually according to accounting and tax regulations.
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