Q:
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Does company need to pay VAT for sales of used fixed assets?
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A:
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Yes.
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Q:
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When small-scale taxpayers sell used fixed assets, how should they pay VAT?
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A:
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VAT shall be calculated with below formulate:
Taxable Income=Sales Income/ (1+3%)
VAT Payable= Taxable Income * 2%
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Q:
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When general taxpayers sell used fixed assets, how should they pay VAT?
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A:
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Transfer of used fixed assets whose input VAT is deductible:
Output VAT=Sales Income/(1+Applicable Tax rate) * Applicable Tax Rate
Transfer of used fixed assets whose input VAT cannot be deducted and has not deducted:
VAT Payable= Sales Income/ (1+3%) * 2%
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Q:
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How to determinate the deemed sales income when there is no actual sales income for disposal of used fixed assets?
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A:
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When deemed sales behaviours incur and taxpayers cannot determine the sales income of used fixed assets, the net value of the fixed assets will be recognized as deemed sales income. Net value of fixed assets refers to the net value of the fixed assets after deduction of the accrued depreciation according to the financial accounting system.
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Q:
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Can special VAT fapiao be issued for sales of used fixed assets by small-scale taxpayers?
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A:
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No, small-scale taxpayers should issue VAT general fapiao.
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Q:
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When taxpayers qualified to enjoy simple levy preferential policy sell used fixed assets, can they give up tax deduction and issue VAT special fapiao?
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A:
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Yes, taxpayers can waive the tax deduction, pay VAT at the levy rate of 3% in accordance with simple levy method and issue VAT special fapiao.
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