Reserve for loan losses of financial enterprises
According to the Notice of the Ministry of Finance of People's Republic of China (PRC), State Taxation Administration of The People's Republic of China, on the Pre-tax Deduction Policy of Corporate Income Tax for Loan Loss Reserve of Financial Enterprises (Caishui [2012] No.5), the loan reserve of financial enterprises can be deducted before tax.
The scope of loan assets that are allowed to withdraw loan loss reserve before tax includes:
(1) Loans (including mortgage, pledge, guarantee and other loans);
(2) Bank card overdraft, discount, credit advances (including bank acceptance bill advances, letter of credit advances, secured advances and other risky assets with loan characteristics. ), import and export bills, interbank lending, financial leasing receivables;
(3) The foreign loans that financial enterprises borrow and assume the responsibility for external repayment include loans from international financial organizations, loans from foreign buyers, loans from foreign governments, unconditional loans from Japan Bank for International Cooperation and mixed loans from foreign governments.
The loan loss reserve allowed for pre-tax deduction by financial enterprises is 65,438+0% of the balance of loan assets. The calculation formula of loan loss reserve allowed for pre-tax deduction in this year is: loan loss reserve allowed for pre-tax deduction in this year = balance of loan assets allowed for pre-tax deduction at the end of this year × 65,438+0%-balance of loan loss reserve allowed for pre-tax deduction at the end of last year. If the amount calculated by the financial enterprise according to the above formula is negative, the taxable income of the current year should be increased accordingly.
There are four points to note here. First, financial enterprises entrusted loans, agency loans, treasury bonds investment, dividends receivable, reserves turned over to the central bank, creditor's rights and equity divested by financial enterprises, financial interest receivable, central bank funds and other assets that do not bear risks and losses may not deduct loan loss reserves before tax. Second, the eligible loan losses incurred by financial enterprises should be deducted from the loan loss reserve before tax, and the insufficient deduction can be deducted when calculating the taxable income of the current year according to the facts. Three, this provision does not apply to agricultural enterprises and small and medium-sized enterprises loan loss reserve tax deduction policy. Iv. This regulation shall be implemented from 2011-201312.
Reserve expenditure of securities industry
The Notice of State Taxation Administration of The People's Republic of China of the Ministry of Finance on Policy Issues Related to Pre-tax Deduction of Enterprise Income Tax for Reserve Expenditure of Securities Industry (Caishui [2012]1No.) clearly states that the reserve expenditure of securities industry can be deducted before enterprise income tax.
The reserve expenditure of securities industry includes two categories: securities reserve and futures reserve.
The specific scope and deduction standard of pre-tax deduction of securities reserve are as follows.
(1) Risk funds of stock exchanges.
According to the relevant provisions of the Interim Measures for the Administration of Risk Funds of Stock Exchanges (Jian Zheng Fa [2000] No.22), the risk funds of stock exchanges extracted by Shanghai and Shenzhen Stock Exchanges are allowed to be deducted before enterprise income tax if the net assets of each fund do not exceed/kloc-0.00 billion yuan.
(2) Securities settlement risk fund.
1. According to the relevant provisions of the Measures for the Administration of Securities Settlement Risk Funds (Jian Zheng Fa [2006] No.65), Shanghai Branch and Shenzhen Branch of China Securities Depository and Clearing Corporation are allowed to deduct the securities settlement risk funds according to 20% of the business income of the securities registration and clearing company before enterprise income tax, provided that the net assets of each fund do not exceed 3 billion yuan.
2. According to the relevant provisions of the Measures for the Administration of Securities Settlement Risk Funds (Jian Zheng Fa [2006] No.65), as a settlement member, the transaction amount of RMB ordinary shares and funds is 3/100,000, the transaction amount of spot treasury bonds is 1/100,000, the transaction amount of 1 day treasury bonds repurchase is 5/100,000, and the transaction amount of 2-day treasury bonds repurchase is 100,000. Securities settlement risk funds with a transaction amount of 1/100,000 for 3-day bond repurchase and 1/10,000 for 7-day bond repurchase, 2/10,000 for 28-day bond repurchase, 6/10,000 for 9 1 day bond repurchase and 12/10,000 for 182-day bond repurchase are allowed to be deducted before enterprise income tax.
(3) Securities Investor Protection Fund.
1. According to the relevant provisions of the Measures for the Administration of Securities Investor Protection Funds (Order No.27 of the CSRC), the securities investor protection funds paid by the Shanghai and Shenzhen Stock Exchanges at the transaction fee rate of 20% are allowed to be deducted before the enterprise income tax.
2. Allow securities companies to deduct securities investor protection funds paid in accordance with the relevant provisions of the Measures for the Administration of Securities Investor Protection Funds (Order No.27 of the CSRC) before enterprise income tax.
The specific scope and deduction standard of pre-tax deduction of futures reserve are as follows.
(1) Risk reserve of futures exchange.
Dalian Commodity Exchange, Zhengzhou Commodity Exchange and China Financial Futures Exchange are based on the Regulations on the Administration of Futures Trading (Order No.489 of the State Council), Measures for the Administration of Futures Exchanges (Order No.42 of CSRC) and Interim Provisions on the Financial Management of Commodity Futures Trading (No.44 [1997]). According to the Regulations on the Administration of Futures Trading (Order No.489 of the State Council), the Measures for the Administration of Futures Exchanges (Order No.42 of CSRC) and the Reply on Adjusting the Scale of Risk Reserve of Shanghai Futures Exchange (Han [2009] No.407), the risk reserve is accrued according to 20% of the fee income collected from members. When the balance of risk reserve reaches relevant regulations,
(2) Risk reserves of futures companies.
According to the relevant provisions of the Measures for the Administration of Futures Companies (Order No.43 of the CSRC) and the Interim Provisions on Financial Management of Commodity Futures Trading (No.44 of word [1997]), the risk reserve of futures companies, which is drawn from 5% of the net income after deducting the handling fees payable by futures exchanges, is allowed to be deducted before enterprise income tax.
(3) Futures Investor Protection Fund.
1. The futures investor protection funds paid by Shanghai Futures Exchange, Dalian Commodity Exchange, Zhengzhou Commodity Exchange and China Financial Futures Exchange in accordance with the Interim Measures for the Administration of Futures Investor Protection Funds (Order No.38 of the CSRC) are allowed to be deducted before enterprise income tax when the total amount of funds reaches the relevant provisions.
2. According to the relevant provisions of the Interim Measures for the Administration of Futures Investor Protection Funds (Order No.38 of the CSRC), the futures investor protection funds paid by futures companies according to the proportion of five ten thousandths to ten thousandths of the agency transaction amount are allowed to be deducted before the enterprise income tax when the total amount of the funds reaches the relevant provisions.
It should be noted that the enterprise income tax shall be levied in accordance with the provisions if the reserves before the enterprise income tax has been deducted are liquidated or returned. In addition, the pre-tax deduction policy for reserve expenditure in the securities industry is implemented from 2011-20151231.
Reserve for agricultural loans of financial enterprises and reserve for loan losses of small and medium-sized enterprises.
In their daily business, financial enterprises often evaluate the quality of bank loans according to the Guiding Principles of Loan Risk Classification (Yinfa [2006 5438+0] No.465 438+06), and adopt a risk-based classification method (loan risk classification for short), that is, loans are divided into five categories: normal, concerned, secondary, suspicious and loss. The latter three categories are collectively referred to as non-performing loans. Therefore, the Notice of State Taxation Administration of The People's Republic of China of the Ministry of Finance on the Pre-tax Deduction Policy for Agricultural Loans of Financial Enterprises and Loan Loss Reserves of Small and Medium-sized Enterprises (Caishui [2009] No.99) stipulates that financial enterprises can classify the risks of agricultural loans of financial enterprises and loans of small and medium-sized enterprises according to the requirements of the Guiding Principles of Loan Risk Classification, and then draw special loan loss reserves for four types of loans other than normal loans according to a certain proportion. When calculating taxable income, it is allowed to deduct: (1) interest-related loans refer to loans with some factors that may adversely affect repayment, although the borrower is currently able to repay the loan principal and interest, and the accrual ratio is 2%; (2) Sub-prime loans refer to loans with obvious problems in the borrower's repayment ability, which can't fully repay the loan principal and interest by relying entirely on its normal operating income, and even if the guarantee is implemented, it may cause certain losses, with a provision ratio of 25%; (3) Suspicious loans refer to loans in which the borrower cannot repay the loan principal and interest in full, and even if the guarantee is implemented, it will definitely cause heavy losses, and the provision ratio is 50%; (4) Loss loan refers to a loan whose principal and interest cannot be recovered or only a small part can be recovered after all possible measures or all necessary legal procedures are taken, and the accrual ratio is 100%. 20110 The Ministry of Finance of People's Republic of China (PRC) and State Taxation Administration of The People's Republic of China issued the Notice on Extending the Implementation Period of the Pre-tax Deduction Policy for Agricultural Loans of Financial Enterprises and Loan Loss Reserves of Small and Medium-sized Enterprises (Caishui [20 1 1] 104), which will be based on Caishui [