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Q:
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What is the difference between the current enterprise income tax rate for small and micro enterprises and SAT Announcement No. 2 of 2019?
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A:
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The main difference is that the part of annual taxable income not exceeding 1 million yuan is subject to EIT at a rate of 20% after being reduced by 25% to taxable income under Announcement No. 2 of 2019, and is currently subject to EIT at a rate of 20% after being reduced by 12.5% to taxable income under Announcement No. 8 of 2021.
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Q:
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What are the preferential policies for individual entrepreneurs?
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A:
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1.
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For the part of the annual taxable income of individual industrial and commercial households not exceeding 1 million yuan, the individual income tax will be reduced by half on top of the existing preferential policies. Individual industrial and commercial households can enjoy it without distinguishing the collection method.
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2.
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The individual industrial and commercial households can enjoy it when they prepay the tax, and their annual taxable income is judged temporarily according to the situation as of the end of the period to which the current declaration belongs, and will be calculated on an annual basis when the annual remittance is settled, with more refunds and less compensation. If the individual industrial and commercial households obtain business income from more than two places, the annual taxable income of the individual industrial and commercial households should be combined when filing the annual tax return, and the amount of tax reduction should be recalculated, and the more refunded and less compensated.
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Q:
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How to calculate the amount of tax deductions for self-employed businesses?
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A:
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Tax deductions = (taxable amount of the part of the taxable income of individual industrial and commercial households not exceeding 1 million yuan - other policy deductions × taxable amount of the part of the taxable income of individual industrial and commercial households not exceeding 1 million yuan ÷ taxable income of operating income) × (1-50%)
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Q:
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How to invoice matters on behalf of the freight transport industry, how to provide?
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A:
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Enterprises, partnership enterprises and individuals, when issuing VAT invoices on behalf of cargo transportation industry, no more personal income tax shall be levied in advance. Individual business owners, investors of sole proprietorship enterprises, individual partners of partnership enterprises and other individuals engaged in cargo transportation business activities shall declare and pay personal income tax on their own business income in accordance with the law.
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Q:
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How is the implementation time specified in this announcement?
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A:
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The provisions on small and medium-sized enterprises and individual entrepreneurs shall come into force on January 1, 2021, and shall be terminated on December 31, 2022. January 1, 2021 to the date of this announcement, individual entrepreneurs who have paid individual income tax on business income may automatically deduct the tax for the following months, and those who do not complete the credit for the year may apply for a refund at the time of remittance; they may also apply directly for a refund of the tax to be deducted. The tax refund can also be applied directly. The matter of issuing invoices on behalf of the freight transportation industry shall be effective from April 1, 2021.
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FAQ
