The tax payment time of interest income value-added tax is determined according to the actual acquisition time, and it is declared and paid in time every month. Involving overseas enterprises or individuals, cross-border tax declaration procedures are required.

According to the Value-added Tax Law of People's Republic of China (PRC) and its detailed rules for implementation, interest income is one of the taxable items of value-added tax, and the tax rate is 6%. The determination of tax liability is based on the actual acquisition time. Specifically, in what form and name do enterprises or individuals obtain interest income, and when should they declare and pay VAT? In addition, interest-related income such as salary also needs to be taxed. If an overseas enterprise or individual obtains interest income in China, it needs to go through the corresponding cross-border tax declaration procedures when declaring VAT. In the actual operation process, taxpayers should declare and pay taxes every month according to their actual purposes and conditions. At the same time, when collecting interest from customers, we should also inform the other party whether it contains value-added tax, and truthfully declare it to the tax authorities. In addition, due to the complexity of interest tax, taxpayers can entrust professional accounting firms to assist in filing.

How to determine the occurrence time of interest income? Interest income occurs from the interest payable date to the actual payment date, or the unexpired creditor's rights are discounted to the present value to the actual payment date. If the payment time is not clear, it shall be confirmed according to the payment time.

Interest income is one of the taxable items of VAT. Involving overseas enterprises or individuals, cross-border tax declaration procedures are required. Taxpayers should truthfully declare their interest income and pay taxes when filing tax returns every month, and may entrust a professional accounting firm to assist them when necessary.

Legal basis:

Article 41 of the Value-added Tax Law of People's Republic of China (PRC), taxpayers selling goods, providing taxable services, leasing or lending fixed assets shall calculate the tax payable in the current period and report and pay taxes to the tax authorities within the prescribed time limit.