Tax exemption and refund, in personal capital's case, the "tax exemption and refund amount" of export goods of production enterprises should be calculated according to the FOB price of export goods and the tax refund rate of export goods.
The FOB price of export goods shall be based on the FOB price on the export invoice (if the export agent is entrusted, the export invoice may be issued by the entrusting party or the entrusted party). If the transaction is conducted under other price conditions, the freight, insurance and commission allowed to offset the export sales income according to the accounting system shall be deducted.
The calculation formula of export tax refund and exemption is:
1. Tax amount that cannot be exempted from tax refund = FOB export goods * RMB foreign exchange quotation * (VAT rate-export tax rebate rate);
2. Taxable amount in the current period = domestic goods output tax in the current period-(input tax in the current period-tax exemption in the current period shall not be reduced)-tax exemption at the end of the previous period;
3. Tax-free amount = FOB price of export goods * RMB foreign exchange quotation * tax refund rate of export goods;
4. Finally, compare the current taxable amount and the tax exemption amount, and choose the smaller one to determine the tax exemption amount.
The amount of tax exemption and refund for export goods of production enterprises shall be calculated according to the FOB price of export goods and the tax refund rate of export goods. If the FOB price of export goods is based on the FOB price on the export invoice, the entrusting party or the entrusted party may issue an export invoice. If the transaction is conducted under other price conditions, the freight, insurance and commission allowed to offset the export sales income according to the accounting system shall be deducted. We should focus on the following aspects:
1, the current tax exemption amount, the input tax that should be deducted in the current period according to the tax exemption policy, can also be understood as the nominal tax rebate amount calculated according to the applicable nominal tax rebate rate and the current export volume of the enterprise;
2. Zero export tax rate. In fact, China implements zero export value-added tax rate for qualified export goods. For value-added tax, the essence of zero export tax rate is that the taxable amount of this link is negative;
3. Tax refund rate. The taxation principle of value-added tax determines that only the value-added amount in each circulation link is taxed at the applicable tax rate, but the theoretical value-added amount is difficult to identify in practice, so the output tax is adopted as the practical method to collect the taxable amount after deducting the input tax. However, because the production and circulation of an enterprise is a continuous but not one-to-one process, the raw materials, spare parts, fuel and power purchased in this period may not be consumed in this period, but these things actually consumed in this period include.
4. Adjustment of tax refund rate. Based on the above reasons, the adjustment of tax rebate rate actually reflects the national financial and industrial policies, rather than the change of input tax actually included in export products;
5. Refund system. In practice, most enterprises sell both for export and domestic sales, so it is difficult to accurately distinguish the input tax that should be refunded in the actual consumption of raw materials, spare parts, fuel and power in the current export products. In tax practice, the tax refund rate is artificially determined. First, the value-added tax payable by domestic products is deducted by the calculated current tax exemption amount, which actually simplifies the tax collection and refund process in the VAT collection link;
6. Tax credit at the end of the period.
To sum up, the export tax rebate is to implement zero tax rate on export commodities, mainly to allow China's export commodities to enter the international market at a price excluding tax. Among them, tax exemption and tax refund are one way of export tax refund.
Legal basis:
"People's Republic of China (PRC) tax collection and management law" article 1.
This Law is formulated in order to strengthen the administration of tax collection, standardize tax collection, safeguard national tax revenue, protect the legitimate rights and interests of taxpayers and promote economic and social development.