What is the VAT rate for loan interest?
Loan interest income is 6% for general taxpayers and 3% for small-scale taxpayers. According to Item 3 of Article 2 of the Provisional Regulations on Value-added Tax in People's Republic of China (PRC), unless otherwise stipulated in Items 1, 2 and 5 of this article, the tax rate is 6%. Article 12 The collection rate of value-added tax for small-scale taxpayers is 3%, unless otherwise stipulated by the State Council.
How to calculate the interest on housing loan?
1. Generally, compound interest is calculated on a monthly basis. Compound interest means that after the end of each interest period, the remaining interest will be added to the principal to calculate the interest of the next period. In this way, in each interest-bearing period, the interest of the previous interest-bearing period will become the interest-bearing principal, that is, interest will accrue at interest, which is also commonly known as rolling interest.
2. There are two ways to repay by installments, one is equal principal and interest, and the other is average capital. Due to different repayment methods, the monthly loan interest is also different. But no matter what kind of loan method, there is a unified calculation standard for bank loan interest.
3. Calculation formula of loan interest; Daily interest rate (0/000) = annual interest rate (%) 360 = monthly interest rate () 30; Monthly interest rate () = annual interest rate (%)12; Current month loan interest = remaining principal of last month * monthly loan interest rate; Principal paid in the current month = repayment amount in the current month-loan interest in the current month; Last month's remaining principal = total loan-accumulated repaid principal.
4. Banks can use product interest method and transaction interest method to calculate interest. The product interest method accumulates the account balance daily according to the actual number of days, and multiplies the accumulated product by the daily interest rate to calculate the interest. The interest-bearing formula is: interest = cumulative interest-bearing product interest rate for several days.
5. At the same time, banks can choose to convert the interest period into actual days to calculate interest, that is, days per year (366 days in leap years) and months are the actual days in the Gregorian calendar of the current month. The interest calculation formula is: interest = the daily interest rate of the actual days of the principal.
The article has all the information about the VAT rate of loan interest and how to calculate the housing loan interest, hoping to help everyone. It is very common to apply for a loan when buying a house, so when applying for a loan, we should calculate the interest of the loan according to the prescribed steps.