Can the VAT on purchased fixed assets be deducted?
The fixed assets that general taxpayers of VAT can deduct input tax refer to machines with a useful life of more than 12 months. , machinery, transportation tools and other devices, tools, instruments, etc. related to production and operation.
When general taxpayers purchase real estate and purchase goods used for real estate projects under construction, the input tax shall not be deducted. Can the value-added tax on the purchase of fixed assets be deducted?
It can be deducted if it is used for production or as long as it is not used for non-taxable items (such as giving to individuals). Can the value-added tax on fixed assets purchased by enterprises now be deducted?
According to regulations, if a device is purchased to form a fixed asset for production, a special VAT invoice can be obtained to deduct the input tax, but there are exceptions to some special regulations, such as if it is used to construct real estate, or if it is required to pay The consumption tax on cars, etc. cannot be deducted. Can the input VAT on purchased fixed assets be deducted? , can the value-added tax on purchased fixed assets be deducted?
The input value-added tax on purchased fixed assets will be deducted according to the situation. The main reason is that real estate is not allowed to be deducted, and consumption tax is not allowed to be deducted. Deductions are not allowed for benefits used for welfare, but others can generally be deducted.
Attached: Detailed Implementation Rules of the Interim Regulations of the People’s Republic of China on Value-Added Tax
Article 23 Item (1) of Article 10 of the Regulations and non-value-added as referred to in these rules Taxable projects refer to the provision of non-VAT taxable services, the transfer of intangible assets, the sale of real estate and real estate projects under construction.
The real estate mentioned in the preceding paragraph refers to property that cannot be moved or that will cause changes in nature and shape after being moved, including buildings, structures and other land attachments.
New construction, reconstruction, expansion, repair, and decoration of real estate by taxpayers are all real estate projects in progress.
Article 24 The abnormal losses referred to in Item (2) of Article 10 of the Regulations refer to losses caused by theft, loss, mold and deterioration due to poor management.
Article 25 The input tax on motorcycles, cars, and yachts that are subject to consumption tax for taxpayers’ own use shall not be deducted from the output tax. Can the VAT on the purchase of fixed assets be deducted?
This depends on whether the production equipment you purchased is within the non-deductible range; as long as the fixed assets are not within the non-deductible range, the input tax can be deducted. The "Interim Regulations on Value-Added Tax" stipulates: Article 10 The input tax on the following items shall not be deducted from the output tax: (1) Purchases used for non-VAT taxable items, VAT-exempt items, collective welfare or personal consumption Purchased goods or taxable services; (2) Purchased goods and related taxable services with abnormal losses; (3) Purchased goods or taxable services used for products in progress and finished goods with abnormal losses; (4) Purchased goods or taxable services with abnormal losses; ) Consumer goods for taxpayers’ own use as prescribed by the finance and taxation authorities of the State Council; (5) Transportation costs for goods specified in items (1) to (4) of this article and transportation costs for sales of tax-free goods. The "Implementation Rules of the Interim Regulations on Value-Added Tax" stipulate that the purchased goods mentioned in Item (1) of Article 10 of the Regulations in Article 21 do not include those that are used for VAT taxable projects (excluding VAT-exempt projects). Fixed assets for non-VAT taxable projects, VAT-exempt (hereinafter referred to as tax-free) projects, collective welfare or personal consumption. The term "fixed assets" as mentioned in the preceding paragraph refers to machines, machinery, transportation tools and other devices, tools, appliances, etc. related to production and operation that have a service life of more than 12 months. Article 22 The personal consumption referred to in Item (1) of Article 10 of the Regulations includes the taxpayer’s social and entertainment consumption. Article 23 The non-VAT taxable projects mentioned in Article 10 (1) of the Regulations and these detailed rules refer to the provision of non-VAT taxable services, the transfer of intangible assets, the sale of real estate and real estate projects under construction. The real estate mentioned in the preceding paragraph refers to property that cannot be moved or that will cause changes in nature and shape after being moved, including buildings, structures and other land attachments. The taxpayer's new construction, reconstruction, expansion, repair, and decoration of real estate are all real estate projects in progress. Article 24 The abnormal losses mentioned in Item (2) of Article 10 of the Regulations refer to the losses caused by theft, loss, mold and deterioration due to poor management. Article 25 The input tax on motorcycles, cars, and yachts that are subject to consumption tax for taxpayers’ own use shall not be deducted from the output tax.
Can the value-added tax on the transfer of fixed assets be deducted?
General VAT taxpayers who obtain special VAT invoices for the transfer of fixed assets can deduct it.
A special VAT invoice is a VAT invoice issued for the sale of goods or the provision of taxable labor and sales services. It is the VAT amount paid by the buyer and can be used to deduct the VAT input tax in accordance with the relevant VAT regulations. of credentials.
How to deduct the value-added tax input tax on the purchase of fixed assets
Deduction entries of the value-added tax input tax on the purchase of fixed assets
Borrow: fixed assets-xxx
< p> Taxes payable - Value-added tax payable (input tax)Credit: bank deposit or accounts payable