On July 1, 2023, the Stamp Duty Law of the People's Republic of China*** and the People's Republic of China (hereinafter referred to as the Stamp Duty Law) was officially implemented.
Compared with the Provisional Regulations on Stamp Duty, the Stamp Duty Law*** makes 10 amendments, including clarifying that value-added tax (VAT) is not the basis for payment of stamp duty, lowering the tax rate, and clarifying the scope of stamp duty exemptions and reductions.
How are the specific policies interpreted? What are these 10 changes? Hurry up to master it!
Stamp duty, 10 changes!
July 1 onwards.
03010 will be implemented on July 1, 2023, officially!
Compared with the People's Republic of China **** and the State Stamp Duty Law, the Stamp Duty Law has 10 major changes:
One Reduced the scope of taxation
Removal of the provision of 5 yuan of stamp duty per right and license.
Two Reduced tax rates
1. The rate of stamp duty on contracts, construction contracts and transportation contracts has been reduced from five ten thousandths to three ten thousandths.
2. Reduce the tax rate of some property rights transfer contracts: trademark rights, copyrights, patents, proprietary technology transfer documents stamp duty rate from the original five thousandths to three thousandths.
3. The stamp duty rate for business books is reduced from 0.5% of the original "total paid-in capital and capital surplus" to 2.5%, and the provisions of Cai Shui [2018] No. 50 are directly incorporated into the legislation.
Three Clarify that the value-added tax (VAT) is not used as the basis for calculating and paying the stamp duty
Note: If a taxpayer enters into a contract that contains tax, and VAT is not separately stated, the stamp duty will be paid in full.
4 Eliminates the trailing number requirement and directly calculates the tax according to the actual tax amount
103010Article 3 stipulates that if the taxable amount is less than 10 cents, the stamp duty is exempted. If the taxable amount is more than ten cents, if the taxable amount is less than five cents, the tax shall be calculated and paid according to ten cents. The Stamp Duty Law abolished this provision.
That is to say, from July 1, 2023, taxpayers do not have to round up when calculating stamp duty. From now on, you can calculate as much as you want, and you no longer need to worry about the difference between the amount payable and the amount paid.
V New provisions on withholding duty payers for stamp duty
003010There are no provisions on how to pay stamp duty for individuals outside the country and whether withholding at source can be practiced. The legislation adds the following provisions:
VI Clarification of the tax period and place of payment
003010The provisions on the tax period and place of payment are not clear, but the Stamp Duty Law defines the time and place of payment.
VII The practice of light taxes and heavy penalties has been abolished, and uniformly enforced in accordance with the law on collection and management
103010 has a tradition of light taxes and heavy penalties:
The Stamp Duty Law has abolished this provision:
VIII The stamp duty on securities transactions is incorporated into the legal norms
The incorporation of the stamp duty on securities transactions into the scope of collection can eliminate the fear of imposing a tax on securities transactions.
Nine stipulates the taxable amount of the same taxable document held by more than one party
If the same taxable document is signed by more than two parties, the taxable amount will be calculated in accordance with the amount of money involved in each party. The original provision is "each party holds a full decal."
Ten
Clearly reduce or exempt the scope of the stamp duty
The State Council residents' housing needs to protect, restructuring and reorganization of enterprises, and support the development of small and medium-sized enterprises. May request a reduction or exemption of stamp duty, and report to the NPC Standing Committee for the record.
The following eight kinds of vouchers are exempted from stamp duty:
Copies or transcripts of taxable vouchers;
In accordance with the provisions of the law should be exempted from taxation of foreign embassies and consulates in China and representative offices of international organizations in China for the purpose of obtaining taxable vouchers for the premises;
Taxable vouchers issued by the Chinese People's Liberation Army and the People's Armed Police Force of China;
Farmers , family farms, farmers' professional cooperatives, rural collective economic organizations, villagers' committees to purchase agricultural production materials or sales of agricultural products of the contract of sale and purchase and agricultural insurance contracts;
or interest-free subsidized loan contracts or loan contracts signed by the international financial organizations to provide preferential loans to our country;
property owners to donate the property to the government, schools, social welfare institutions and charitable organizations the written property rights transfer documents;
sales contracts for the purchase of drugs or sanitary materials by non-profit healthcare organizations;
electronic orders signed by individuals and e-commerce operators.
Attachment: Table of Stamp Duty Items and Rates
Note this practical detail! Don't pay the wrong tax!
[Policy Provisions]
103010 (Decree No. 89) (effective July 1, 2023) provides that: Article 13 of the taxpayer as a unit, it shall be declared to the competent tax authorities in the location of its institutions to pay stamp duty; taxpayers as individuals, it shall be declared to the competent tax authorities in the place of issuance of taxable certificates or outside the country to pay the stamp duty
1. Off-site project contract (contract signed by the project department, the project department is the taxpayer of the stamp duty)
(1) The project department is registered for the tax in the project location: declare and pay the stamp duty in the project location (the responsible tax
service organ of the project department).
(2) The project department does not have tax registration at the project location: it goes back to the competent tax authority at the location of the head office organization to declare and pay the stamp duty.
Remarks
The project department does not have an independent legal personality, but as long as there is relevant authorization to enter into a contract (or sign a contract with the other party has reason to believe that the project department has the right to act, is also a valid contract), in practice, in the name of the project department of the foreign contract is very common.
2. Contracts for off-site projects (contracts signed by the head office, such as general contracting contracts): return to the competent tax authorities where the head office is located to declare the payment of stamp duty.
3. Effective July 1, 2023
In accordance with the provisions of the time of occurrence of the stamp duty tax obligation, "the date on which the taxpayer writes and establishes taxable certificates or completes a securities transaction," in layman's terms, it is the date of signing of the contract that prevails, that is, the date of signing of the contract on July 1, 2023 and thereafter.
How to calculate the stamp duty?
I. Taxation basis
II. Calculation formula
Calculated according to proportional tax rate: taxable amount = taxable amount × applicable tax rate
Calculated according to fixed tax rate: taxable amount = voucher tax rate × unit tax
How to account for the stamp duty?
1. When accruing this month's payment (if there is a reduction, directly according to the actual amount after the reduction) accounting entries are as follows:
Borrow: Taxes and surcharges
Credit: Taxes and charges payable - stamp duty payable
2. When the actual payment is made, accounting entries are as follows:
Borrow: Taxes and charges payable - stamp duty payable
Credit: Bank deposits
Credit: Taxes and charges payable - stamp duty payable
Credit: Stamp duty payable
Credit: Stamp duty payable
Credit: Bank Deposit
Note: Some enterprises pay a small amount of tax, can also be recorded in the direct payment.
Borrow: taxes and surcharges
Credit: bank deposits
The article is for reference only.
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Related Q&A: What is stamp duty, please make it clearer, thanks?Newly established companies, immediately pay the stamp duty for: paid-in capital to the account after the paid-in capital to pay the stamp duty of five ten thousandths of the paid-in capital, such as capital surplus if you have to add the amount of capital surplus account together. After the opening of the books of account in accordance with the 5 yuan a decal. The business license will be discounted at 5 yuan per book. After the establishment of the company has business, the business contract signed in the stamp duty regulations listed in the scope of the only need to pay stamp duty. In practice, it should be noted that:
1. If there is no business or business but the business contract does not belong to the scope of the enumerated does not need to pay stamp duty.
2. If there is a listed business even if there is no contract (such as the occurrence of purchases but did not sign the contract), the tax authorities also have the right to collect its stamp duty based on the relevant vouchers, documents (from the point of view of the tax bureau).
3. Whether the contract is signed in the territory or outside the country, as long as the contract is protected by the domestic law, the exercise of power in the territory will have to pay stamp duty in the territory.
4. The taxpayers of stamp duty are the two parties who sign the contract. That is, both parties to the contract are required to pay stamp duty.
5. If the expected non-payment of stamp duty, the tax authorities have the right to recover the tax, and will be added to the fine and late payment (the provisions of the law). Article listed in 13 (including the above paid-up capital, capital surplus and books, license decals) to pay stamp duty, respectively: 1. purchase and sale contracts, including supply, pre-order, purchase, purchase and sale of a combination of collaboration, transfer, compensation, barter, and other contracts according to the amount of the purchase and sale of 0.3 ‰ decal to set up a contract with the contracting parties. 2. processing and contracting contracts, including processing, customization, repair, repair, printing, advertising, surveying, testing, etc., the contract of processing or contracting income of 0.3 ‰ decal to set up contracts, including processing, customizing, repair, printing, advertisement, surveying, testing, etc. Contracts for processing and contracting, including processing, customizing, repairing, repairing, printing, advertising, surveying, testing, etc. Decals shall be made according to the processing or contracting income of 0.5 ‰. 3. Contracts for survey and design of construction works, including survey and design contracts, shall be made according to the fees charged of 0.5 ‰. 4. Contracts for construction and installation works, including construction and installation works, shall be made according to the amount of contracting. 5. Contracts for leasing of property, including leasing of houses, ships, aircraft, motor vehicles, machinery, instruments and equipments, etc. Decals shall be made according to the amount of leasing of 1 ‰. The contract of property leasing contracts, including leasing houses, ships, airplanes, motor vehicles, machinery, appliances, equipment and other contracts at the lease amount of 1 ‰ decal.
6. Contracts for the carriage of goods, including civil air transport, railroad transport, sea transport, inland waterway transport, road transport and intermodal transport contracts, according to the cost of transport 0.5 ‰ decal
7. Warehousing and storage contracts, including warehousing, storage contracts, according to warehousing and storage costs 1 ‰ decal
8. Borrowing contracts, banks and other financial organizations and the borrower (including the financial leasing contract but not interbank lending), the contract amount is 0.3 ‰ decal. Borrowing contracts signed by banks and other financial organizations and borrowers (including financial leasing contracts but excluding inter-bank lending) are discounted at 0.05 ‰ of the amount borrowed
9. Property insurance contracts include property, liability, guarantee, credit and other insurance contracts, and are discounted at 1 ‰ of the premium income collected
10. Technology contracts include contracts for the development, transfer, consulting, and service of technology, and are discounted at 0.3 ‰ of the amount recorded
11. 11. Property transfer documents, including property ownership and copyright, exclusive right to trademarks, patents, the right to use proprietary technology *** 5 property transfer documents, land use right transfer contract, contract for the sale of commercial real estate (including the public offering of shares of joint-stock enterprises to the public, for the purchase, inheritance, gift of the property transfer documents issued by the written) 0.5 ‰ decal according to the amount recorded
12. Business books into the accounting of production, business with the books recorded in the capital books according to the total amount of paid-in capital and capital surplus 0.5 ‰ decal. Other books are discounted at 5 yuan per piece
13. Rights, licenses and permits, including government departments issued by the building ownership certificate, industrial and commercial business license, trademark registration certificate, patent certificate, land use certificate, discounted at 5 yuan per piece