It has come and gone, and a number of new finance and tax related laws and regulations have come into effect. So what are the new fiscal and tax regulations (in the category of fiscal and tax laws and regulations) that will come into effect in January? The following editorial has organized the relevant knowledge for you, welcome to read. From January 1, 2018, 31 cities launched commercial health insurance personal tax pilot The Ministry of Finance, State Administration of Taxation, and the CIRC recently issued the Notice on the Implementation of Commercial Health Insurance Individual Income Tax Policy Pilot (Cai Shui 〔2015〕 No. 126), which decided to implement the pilot of the commercial health insurance individual income tax policy in 31 cities such as Beijing, Shanghai, Tianjin, and Chongqing. The notice stipulates that the expenditure of individuals in the pilot area on the purchase of health insurance products in line with the regulations shall be deducted before individual income tax in accordance with the limit of RMB 2400/year, which has been implemented since January 1, 2017, and the expenditure of individuals in the pilot area on the purchase of health insurance products in line with the regulations shall be deducted before individual income tax. Improvement of the policy of adding deduction for research and development expenses Starting from January 1, 2018 The Ministry of Finance, the State Administration of Taxation, and the Ministry of Science and Technology have recently issued the Notice on the Improvement of the Policy of Adding Deduction for Research and Development Expenses before Tax (Cai Shui [2015] No. 119), which stipulates that, starting from January 1, 2017, the actual research and development expenses incurred by enterprises in carrying out research and development activities, which do not result in the formation of an intangible asset to be included in the current period's profit or loss, are On the basis of actual deduction in accordance with the provisions, 50% of the actual amount incurred in the current year shall be deducted from the taxable income of the current year; and if intangible assets are formed, they shall be amortized in accordance with 150% of the cost of intangible assets before tax. In order to further standardize the management of vehicle and vessel tax, the State Administration of Taxation (SAT) has formulated the "Vehicle and Vessel Tax Management Procedures (for Trial Implementation)", which specifies the matters involved in the management of vehicle and vessel tax such as the management of tax sources, tax collection, tax exemption, tax rebate management and risk management, etc. It also puts forward the requirements of the tax refund in the case of taxpayers' tax refund due to the return of vehicles for quality reasons, theft and robbery, scrapping, loss, etc. The new rules are effective from January 1st. The new regulations came into effect on January 1, 2017, with relevant requirements for management. The State Administration of Taxation (SAT) recently issued the Announcement on Issues Concerning the Administration of Individual Income Tax on Equity Awards and Conversion to Equity (No. 80 of 2015), which clarifies the scope of application of the policy, determination of taxable price and filing formalities, etc. The non-listed small and medium-sized high-tech enterprises or small and medium-sized high-tech enterprises not listed in the National Small and Medium-sized Enterprises Stock Transfer System shall be subject to the tax rebate. The announcement came into effect on January 1, 2017, which clarified the scope of application of the policy and the issues related to the determination of the taxable price and the filing procedures. From January 1, these two national independent innovation demonstration zone tax pilot policy pushed to the whole country The Ministry of Finance, the State Administration of Taxation previously issued "on the national independent innovation demonstration zone tariff pilot policy extended to the national implementation of the notice" (Cai Shui [2015] No. 116), decided to national independent innovation demonstration zones pilot four income tax policy extended to the national implementation. Among them, since January 1, 2017, two tax concessions, the individual income tax policy on the conversion of share capital by enterprises and the individual income tax policy on equity awards, have been implemented. 2018 Tariff Adjustment Program Released for Implementation from January 1, 2018 A few days ago, the Notice of the State Council Tariff Commission on the 2017 Tariff Adjustment Program (Tax Commission [2015] No. 23) was released, deciding that, since January 1, 2017, measures will be taken to appropriately reduce the tariffs on imported and exported commodities such as infant milk powder, bags, clothing, sunglasses, etc. with a large domestic demand, and at the same time moderately expanding the scope of tariff reductions for daily-use consumer goods. The program adjusts some tariff lines, and after the adjustment, the number of tariff lines in 2017*** is 8,294. January 1, Tianjin, Liaoning, Anhui and other places to implement the overseas travelers shopping departure tax rebate policy The Ministry of Finance recently issued a document, the people's governments of Tianjin, Liaoning, Anhui, Fujian, Xiamen and Sichuan Province in accordance with the "Ministry of Finance on the implementation of the policy of overseas travelers shopping departure tax rebate announcement" (Ministry of Finance Announcement No. 3 of 2015), the "General Administration of Customs on the overseas travelers shopping departure tax rebate business of the Customs Supervision Regulations of the Announcement" (General Administration of Customs Announcement) (General Administration of Customs Announcement). Announcement" (General Administration of Customs Announcement No. 25 of 2015) and "Announcement of the State Administration of Taxation on the Issuance of <Administrative Measures for Overseas Passenger Departure Tax Refund for Shopping (Trial) >" (Announcement of the State Administration of Taxation No. 41 of 2015), since January 1, 2017, the implementation of the policy of departure tax rebate for overseas passenger shopping has been stipulated. From January 1, 2018, lead storage batteries are subject to import consumption tax The Ministry of Finance and the State Administration of Taxation previously issued the Notice on the Imposition of Import Consumption Tax on Batteries and Coatings (Caixuan [2015] No. 4), which states that, since January 1, 2017, lead storage batteries (tariff code number: 85071000, 85072000) are subject to import consumption tax, with an applicable tax rate of 4%. In addition, from February 1, 2015 onwards, batteries (except lead storage batteries) and paints are subject to import consumption tax, and the applicable tax rate is 4%. Adjustment of Catalog on Import Tax Policy for Major Technical Equipment Effective January 1 The Ministry of Finance, the National Development and Reform Commission, the Ministry of Industry and Information Technology, the General Administration of Customs, the State Administration of Taxation, and the National Energy Administration have jointly issued the Circular on the Adjustment of Catalog and Provisions on Tax Policy for Importation of Major Technical Equipment (Caixa Tariff 〔2015〕 No. 51), which, since January 1, 2017, has abolished the tax on tax exemption policy for equipment such as axial-flow hydropower units, and enterprises producing and manufacturing related equipment and products have their 2017 pre-allocated tax-exempted import quota canceled accordingly, and the "Catalog of Major Technical Equipment and Products Supported by the State for Development (2015 Revision)" and the "Commodity Catalogue of Imported Key Parts and Raw Materials for Major Technical Equipment and Products (2015 Revision)" have begun to be enforced. The full amount of urban land use tax will be levied on occupied land such as barren mountains and forest land from January 1, 2018 The Ministry of Finance and the State Administration of Taxation (SAT) previously issued the Circular on Policies Relating to Urban Land Use Tax on Occupied Land within the Scope of Enterprises such as Barren Mountains, Forest Land, Lakes, etc. (Cai Shui [2014] No. 1), which stipulates that for occupied land such as barren mountains, forest land, lakes, etc. within the scope of enterprises that have been exempted from urban land use tax in accordance with the regulations, the tax shall be paid in full from January 1, 2014 to December 31, 2015, according to the taxable amount of half the urban land use tax; since January 1, 2017, the full amount of urban land use tax. The implementation standard of organic fertilizer products is clear since January 1, 2018 The State Administration of Taxation (SAT) has recently issued the Announcement on Clarifying the Implementation Standard of Organic Fertilizer Products (SAT Announcement No. 86 of 2015), which provides that among the organic fertilizer products enjoying VAT tax exemption policy, the organic fertilizers are implemented in accordance with the standards of Organic Fertilizers (NY525-2012), the Organic - inorganic compound fertilizer according to the "organic - inorganic compound fertilizer" (GB18877-2009) standards, bio-organic fertilizer according to the "bio-organic fertilizer" (NY884-2012) standards. Organic fertilizer products that do not meet the above standards shall not enjoy the VAT exemption policy stipulated in Cai Shui [2008] No. 56. Starting from January 1, 2018, China-Korea and China-Australia FTA implement the second year of tax rates A few days ago, the Notice of the State Council Tariff and Taxation Commission on the Implementation of the Agreement on Tariff Rates of the China-Korea China-Australia Free Trade Agreement (Tax Commission 〔2015〕 No. 25) was released, which stated that the tariff reduction program of the China-Korea and China-Australia Free Trade Agreements has been the State Council Tariff and Taxation Commission The sixth plenary meeting of the State Council to consider and adopt, and reported to the State Council for approval, decided since December 20, 2015, the implementation of China - South Korea, China - Australia Free Trade Agreement first year of tariff rates, since January 1, 2017, the implementation of the second year of tariff rates. January 1, 2018 onwards Hong Kong and Macao CEPA under the new and revised zero-tariff goods origin standards A few days ago, the General Administration of Customs Announcement No. 56 of 2015 was released, the General Administration of Customs formulated the "January 1, 2018 onwards Hong Kong CEPA under the new zero-tariff goods origin standards table", "January 1, 2018 onwards Hong Kong CEPA under the revised zero-tariff goods origin standards table" and "the Table of Criteria for the Origin of New Zero-tariff Goods under Macao CEPA from January 1, 2018", which shall be implemented from January 1, 2018 onwards.
Legal Objective:Article 6 of the Individual Income Tax Law, Calculation of Taxable Income: (1) The comprehensive income of a resident individual shall be taxable as the balance of his/her income for each taxable year after subtracting the expenses of 60,000 yuan, as well as the special deductions, special additional deductions, and other deductions determined by law. (ii) Income from wages and salaries of non-resident individuals shall be taxable as the balance of monthly income after deducting expenses of five thousand yuan; income from remuneration for labor, remuneration from manuscripts, and income from royalties shall be taxable as the amount of each income. (c) Income from business operation shall be the taxable income after deducting costs, expenses and losses from the total income of each taxable year. (d) Income from property leasing, if each income does not exceed 4,000 yuan, less 800 yuan; if it exceeds 4,000 yuan, less 20% of the expenses, and the balance shall be the taxable income. (e) Income from the transfer of property shall be the taxable income after deducting the original value of the property and reasonable expenses from the income from the transfer of property. (vi) Income from interest, dividends, bonus and incidental income shall be the taxable income on a per-income basis. Income from remuneration for labor, remuneration for manuscripts, and royalties shall be determined by deducting 20% of the expenses from the income. The amount of income from manuscript remuneration is reduced by 70%. Individuals who donate their income to education, poverty alleviation, relief and other public welfare and charitable undertakings, and the portion of the donation amount not exceeding thirty percent of the taxable income declared by the taxpayer can be deducted from their taxable income; if the State Council stipulates that full pre-tax deduction shall be implemented for donations to public welfare and charitable undertakings, the regulations shall apply accordingly. The special deductions stipulated in the first paragraph of the first item of this Article include the basic pension insurance, basic medical insurance, unemployment insurance and other social insurance premiums paid by individual residents in accordance with the scope and standard stipulated by the State and the housing fund, etc.; the special additional deductions include the expenditures for children's education, continuing education, medical care for the seriously ill, interest on housing loans or rent for housing, and support for the elderly, etc., with the specific scope, standard and implementation steps to be determined by the State Council and reported to the Standing Committee of the National People's Congress for its approval. The specific scope, standards and implementation steps shall be determined by the State Council and reported to the Standing Committee of the National People's Congress for the record.