Jiangsu province implements the system of verification and collection for individual industrial and commercial households, mainly for small-scale operators. Approved collection means that under certain conditions, the tax authorities estimate the taxpayer's tax payable, and taxpayers are no longer required to provide more stringent tax vouchers such as invoices and account books, and the tax is directly calculated according to a certain proportion. According to the Provisions of Jiangsu Local Taxation Bureau on Relevant Issues Concerning the Approval and Collection of Individual Industrial and Commercial Households, individual industrial and commercial households involving different industries also have different provisions. Generally speaking, the real estate leasing enterprises calculate the approved tax collection based on 50% of the operating income, the goods selling enterprises based on 3% of the turnover, and the service industry units based on 5% of the turnover. Of course, individual industrial and commercial households also need to declare taxes on time while enjoying the approved collection policy. Otherwise, you will face risks such as fines.
Is the approved collection of individual industrial and commercial households in Jiangsu applicable to all industries? No. The approved levy policy of individual industrial and commercial households in Jiangsu does not apply to all industries, and there may be different approval methods for some specific industries. For example, for supermarkets, restaurants and other enterprises that sell goods or provide services, the approved levy is based on 3% of the turnover. Therefore, when enjoying the approved levy policy, you should know the approved methods and applicable conditions of your own industry.
The implementation of the approved collection system for individual industrial and commercial households in Jiangsu Province can simplify the tax payment procedures for small-scale operators, but it also requires individual industrial and commercial households to declare taxes on time. When enjoying the approved levy policy, you should know the approved methods and applicable conditions of your own industry in order to operate better.
Legal basis:
Provisions of Jiangsu Provincial Local Taxation Bureau on Relevant Issues Concerning the Approved Collection of Individual Industrial and Commercial Households Article 4 Individual industrial and commercial taxpayers who apply the approved collection shall determine the tax payable in each tax year, submit a tax payment declaration form and pay taxes in accordance with the regulations.