What are the common VAT exemption items?

Ordinary value-added tax exemption items

Self-produced agricultural products sold by agricultural producers

Contraceptive drugs and appliances

ancient book

Others sell their used items.

State-owned grain purchasing and selling enterprises that undertake the task of purchasing and storing grain sell grain.

Vegetables sold by taxpayers engaged in vegetable wholesale and retail (excluding canned vegetables)

Blood stations supply blood for clinical use to medical institutions.

Preparations produced and used by non-profit medical institutions.

For-profit medical institutions produce and use their own preparations within 3 years.

The internal unit of the railway system repairs freight cars for this system.

Heating costs charged by heating enterprises to individual residents.

Imported instruments and equipment directly used for scientific research, scientific experiments and teaching.

Imported materials and equipment with free assistance from foreign governments and international organizations.

Articles for the disabled are directly imported by disabled organizations.

Main types of value-added tax

1, production vat

2. Income-based VAT

3. Consumption VAT

Calculation formula of VAT payable amount

Output tax: refers to the value-added tax calculated according to the sales of taxable services provided by taxpayers and the value-added tax rate.

Input tax: refers to the value-added tax paid or undertaken by taxpayers when they purchase goods or accept processing, repair and replacement services and taxable services.

Taxable amount = current output tax-current input tax

Output tax = sales × tax rate

Sales = sales including tax ÷( 1+ tax rate)