Loan interest expenses cannot be invoiced for value-added tax and cannot be deducted.
Expenses related to loans (such as investment and financing consulting fees and fees charged by banks) cannot be deducted from the input tax.
According to the provisions of the "Implementation Measures for the Pilot Reform of Business Tax to Value-added Tax", taxpayers may not deduct the input tax when accepting loan services. At the same time, taxpayers who accept loan services and pay the lender investment and financing consulting fees, handling fees, consulting fees and other expenses directly related to the loan shall not deduct the input tax from the output tax.
Second, what should I fill in the billing unit of interest?
The billing unit can be left blank.
Ordinary invoices are issued for interest income, and the specifications, models, quantities and units of the invoices can be omitted.
The tax authorities require enterprises to have legal and valid certificates, so the interest generated by mutual lending between enterprises should be invoiced. Interest arising from inter-enterprise loans or borrowings may be invoiced for special value-added tax. However, ordinary VAT invoices should be issued instead of special VAT invoices.
3. Can I issue a special VAT invoice for interest?
Legal analysis: interest cannot be invoiced for value-added tax. Special VAT invoices are printed under the supervision of People's Republic of China (PRC) State Taxation Administration of The People's Republic of China, and are only used by general VAT taxpayers. They are not only important accounting vouchers for taxpayers to reflect their economic activities, but also legal vouchers for sellers' tax obligations and buyers' input tax. It is an important, decisive and legal special invoice in value-added tax calculation and management. The implementation of special VAT invoice is a key step of VAT reform. Different from ordinary invoices, it not only has the function of commercial documents, but also requires the buyer to pay the value-added tax to the seller by indicating the tax on the invoice. It has the function of tax payment voucher. More importantly, the special VAT invoice links all the links of a product from the initial production to the final consumption, maintaining the integrity of the tax and reflecting the role of VAT. Legal basis: Provisional Regulations on Value-added Tax in People's Republic of China (PRC) Article 1 Units and individuals selling goods or processing, repairing and repairing services (hereinafter referred to as services), services, intangible assets, real estate and imported goods in People's Republic of China (PRC) are taxpayers of value-added tax and shall pay value-added tax in accordance with these regulations. Derivative question: How should the interest on deferred payment be taxed? In terms of value-added tax, Article 6 of the Provisional Regulations on Value-added Tax in People's Republic of China (PRC) and Article 12 of the detailed rules for its implementation stipulate that the value-added tax sales amount is the total price and extra-price expenses charged by the taxpayer to the buyer for selling goods or taxable services, but it does not include the collected output tax. Among them, the out-of-price expenses include handling fees, subsidies, funds, collection fees, return profits, incentive fees, liquidated damages, late fees, deferred payment interest, compensation, collection funds, advance payment, packaging fees, packaging rent, reserve fees, quality fees, transportation and handling fees and other out-of-price expenses of various nature. It can be seen that the interest on deferred payment belongs to expenses other than VAT and should be recognized as VAT sales. Then how should the seller invoice, can it issue a special VAT invoice and can the buyer deduct it? Article 20 of the Measures for the Administration of Invoices in People's Republic of China (PRC) stipulates that when units and individuals sell goods, provide services and engage in other business activities, and collect money from outside, the payee shall issue invoices to the payer. Therefore, the deferred payment interest charged by the seller to the buyer should be invoiced as required. Specifically, the seller can issue special VAT invoices for payment of the goods and other expenses according to the amount of the sales payment and deferred payment interest, and the buyer can deduct the tax with the special VAT invoices received. In terms of business tax, Article 5 of the Provisional Regulations of the People's Republic of China on Business Tax stipulates that the turnover of taxpayers is the total price and extra-price fees charged by taxpayers for providing taxable services, transferring intangible assets or selling real estate. Article 13 of the Detailed Rules for the Implementation of the Provisional Regulations of the People's Republic of China on Business Tax stipulates that the extra-price expenses mentioned in Article 5 of the Regulations include handling fees, subsidies, funds, collection fees, return of profits, incentive fees, liquidated damages, late fees, deferred payment of interest, compensation, collection of funds, prepaid funds, penalty interest and other extra-price expenses. It can be seen that the interest on deferred payment is also the extra cost of business tax, and the seller can issue corresponding invoices to the buyer in accordance with relevant regulations.
4. Can a special VAT invoice be issued for the interest income from bank loans?
Special VAT invoices cannot be issued for bank loan interest.
According to Article 27 of the Implementation Measures for the Pilot Reform of Business Tax to Value-added Tax (Implementation Measures for the Pilot Reform of Business Tax to Value-added Tax), the input tax on the purchase of passenger services, loans, residents' daily services and entertainment services shall not be deducted from the output tax.
Attachment: Notes on Sales Services, Intangible Assets and Real Estate Item (5) of Article 1: Loan service: Loan refers to the business activity of lending funds to others to obtain interest income.
Interest income from various occupied and borrowed funds, interest income from credit card overdraft, interest income from buying financial products for resale, interest income from margin financing and securities lending, and interest and income from financing for resale and leaseback, bill discount, lending and other businesses are all subject to value-added tax.
At the same time, Annex 2 of the Provisions on Relevant Matters in the Pilot Project of Changing Business Tax to VAT (Caishui [2016] No.36) further clarifies that taxpayers can deduct investment and financing consulting fees, handling fees and consulting fees directly related to loans.
According to the above provisions, the interest paid by taxpayers for borrowing from banks, as well as the fees and consulting fees related to borrowing. , not included in the input tax.
Relevant circumstances of not purchasing and using special VAT invoices:
1. Failing to calculate the taxable amount of output tax, input tax and value-added tax according to the accounting system.
Two, not to declare the tax payable to the tax authorities.
According to and other related VAT tax information. Other contents related to the above-mentioned VAT tax information shall be determined by the branch directly under State Taxation Administration of The People's Republic of China.
Three, there are the following acts, after correction has not been corrected:
1, private
2, to individuals or tax authorities outside the single.
3. Borrow special invoices from others;
4. Providing false special invoices to others;
5. Failing to issue special invoices in accordance with the requirements of Article 5 of these Provisions;
6. Failing to save special invoices as required;
7, not according to the provisions of article tenth of the purchase, use and storage;
8. Failing to accept the inspection by the tax authorities as required.
All the goods sold are duty-free.
If the general taxpayer under the above circumstances has received and used the special invoice, the tax authorities shall collect the special invoice for the balance.
General taxpayers selling goods (including goods deemed to be sold), taxable services and VAT taxable services (hereinafter referred to as selling taxable items) must issue special invoices to the buyers.