According to the Detailed Rules for the Implementation of the Provisional Regulations of the People's Republic of China on Business Tax, financial insurance refers to the business of finance and insurance.
The financial and insurance industries mainly pay business tax, urban maintenance and construction tax, education surcharge and enterprise income tax.
I. Business tax
(1) Tax scope
Financial and insurance business scope
1. Finance refers to businesses engaged in the circulation of monetary funds, including loans, financial leasing, financial commodity transfer, financial brokerage and other financial businesses.
(1) Loan refers to the business of lending funds to others, including loans with own funds and refinancing.
Self-funded loans refer to the deposits of units and individuals that use their own funds or absorb others.
Lending refers to lending borrowed funds to others for use.
The mortgage loan business of the pawn industry, regardless of its source of funds, is taxed according to its own funds. The loan business of China People's Bank is not taxed.
(2) Financial leasing refers to the equipment leasing business characterized by financing and ownership transfer. That is, the lessor purchases the equipment and rents it to the lessee according to the specifications, models, performance and other conditions required by the lessee. During the contract period, the ownership of the equipment belongs to the lessor and the lessee has only the right to use it. After paying the rent at the expiration of the contract, the lessee has the right to purchase the equipment at the residual value in order to own the ownership of the equipment. All financial leases, regardless of whether the lessor sells the residual value of the equipment to the lessee, shall be taxed according to this tax item.
(3) The term "transfer of financial commodities" refers to the transfer of ownership of foreign exchange, marketable securities or non-goods futures.
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Non-cargo futures refer to futures other than commodity futures and precious metal futures, such as foreign exchange futures.
(4) The financial brokerage industry refers to the business entrusted to conduct financial activities on its behalf.
(5) Other financial services refer to various financial services other than those listed above, such as bank settlement and bill discount. No business tax is levied on deposits and purchases of financial commodities.
2. Insurance
Insurance refers to the business of collecting funds through contracts to compensate the economic interests of the insured.
(2) Tax base
According to the regulations, the taxable turnover of the financial industry includes: loan interest, financial leasing income, financial commodity transfer income and financial brokerage and other financial business fee income.
(1) loan business turnover
(1) The turnover of loan business is the interest that taxpayers get from loans.
(2) According to the Circular on Forwarding State Taxation Administration of The People's Republic of China of the Ministry of Finance of People's Republic of China (PRC) on Relevant Issues Concerning the Collection of Business Tax in Financial Industry (No.2281995), the lending business only refers to foreign exchange lending business, and the business tax is calculated and collected by taking the balance of loan interest income minus loan interest expenditure as the turnover; Other loan businesses are subject to full business tax based on loan interest income.
(3) According to the Notice on Forwarding the Notice of the State Council on Adjusting the Tax Policy of Financial and Insurance Industry (Caishuizi [1997] No.45), the time when the financial institution's overdue loan tax obligation occurs is the day when the taxpayer obtains the interest income right. For overdue loans that exceed the accounting period of overdue loans, business tax can be levied according to the interest income actually received.
The accounting period of loan collection shall be implemented according to the relevant provisions of the financial system.
④ Taxation of cashier's payment and settlement fines.
According to the Notice on Forwarding the Notice of the State Council on Relevant Issues Concerning the Adjustment of Tax Policies of Financial and Insurance Industry (Caishuizi [1997] No.45), no business tax is levied on the cashier's long-term income of financial institutions.
The income actually received by financial institutions in the current period, such as liquidated damages, penalty interest, interest rate increase, etc., should be incorporated into the turnover to collect business tax.
⑤ Withholding and paying business tax on entrusted loan business.
When a financial institution accepts the entrustment of other units or individuals to handle entrusted loan business for it, if the entrusting party's funds are transferred to the agency, the agency will lend the funds to the user unit or individual. When the business tax is levied, the agency that finally issues the loan to the user unit or individual and obtains the loan interest shall withhold and remit the business tax payable by the entrusting party and pay it to the local competent tax authorities.
⑥ On the issue of levying business tax on RMB loan business.
The RMB business approved by foreign banks shall be handled in accordance with the relevant provisions of 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 Relevant Issues Concerning the Collection of Business Tax in Financial Industry (Caishuizi [1995] No.79), that is, the RMB lending business shall be regarded as a general loan business, and the interest income business tax shall be levied in full; Business tax will not be levied on RMB interbank transactions between foreign-funded financial institutions for the time being.
⑦ Whether the business tax can be levied according to the foreign exchange business of lending when the self-owned funds are deposited in overseas banks for re-lending.
In the course of operation, some foreign banks deposit 30% of their own capital in the People's Bank of China, and the rest in overseas affiliated banks, and then borrow from affiliated banks when issuing loans. The part of the above-mentioned loans equivalent to the balance of self-owned funds deposits does not belong to the "lending foreign exchange business" as mentioned in Article 2 of 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 Relevant Issues Concerning the Collection of Business Tax in the Financial Industry (Caishuizi [1995] No.79), but has the nature of "lending self-owned funds to others for use" as mentioned in Article 20 of the Detailed Rules for the Implementation of the Provisional Regulations of People's Republic of China (PRC). Therefore, for foreign banks, it is necessary to deposit their own funds.
(8) A rural cooperative foundation established in rural areas invests its own capital, absorbed shares and other funds into members or other units and individuals for use, and collects the fund occupation fee, which belongs to the business of "lending funds to others for use" in the notes of business tax items. Therefore, whether it is self-service within the prescribed scope or service beyond the prescribed scope, business tax should be levied in full on the capital occupation fee or interest income collected according to the tax item of "financial insurance".
Pet-name ruby According to the Notice of State Taxation Administration of The People's Republic of China, Ministry of Finance of People's Republic of China (PRC) on Relevant Issues Concerning Forwarding Business Tax Collection (Caishuizi [1995] No.228 1), business tax will not be levied on the transactions of financial institutions 1995 to1for the time being.
The tax payment period is 1994. If the business tax has not been collected, it will not be collected. If business tax has been levied, it will not be refunded, nor will it be deducted from the business tax payable in future years.
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 Some Tax Issues in the Financial Industry (Caishuizi [2000] 19 1No.), the business between financial institutions that do not levy business tax temporarily refers to the business of mutual occupation and borrowing of funds between financial institutions, excluding services provided by each other (such as settlement on behalf of others, issuance of financial bonds on behalf of others, etc.). ). Business tax is levied on the income obtained by financial institutions from providing services to each other.
(2) Financial leasing turnover
According to the provisions of the Notice on Forwarding the Notice of the State Council on Relevant Issues Concerning the Adjustment of Tax Policies of Financial and Insurance Industry (Caishuizi [1997] No.45) and the Notice on Taxable Turnover of Business Tax in Financial Leasing Industry (Caishuizi [1999] 183), taxpayers engaged in financial leasing business should regard it as.
The actual cost of the leased goods includes the interest expenses of overseas foreign exchange loans incurred by taxpayers to purchase the leased goods, as well as the purchase price, customs duties, value-added tax, consumption tax, transportation fees, installation fees, insurance fees and other expenses borne by the lessor.
(3) the turnover transfer of financial commodities
(1) The taxable sales of buying and selling foreign exchange refers to the income obtained by business operators from buying and selling foreign exchange according to changes in the foreign exchange market.
(2) The taxable sales of securities is the income from buying and selling foreign exchange according to the changes in the securities market, that is, the difference between the buying and selling prices of securities.
(4) the turnover of the financial brokerage industry
Refers to the handling fees earned by financial institutions in the financial brokerage industry.
(5) Turnover of other financial businesses
Refers to the handling fees earned by financial institutions in other financial businesses.
(1) According to the Notice on Forwarding the Notice of the State Council on Relevant Issues Concerning the Adjustment of Tax Policies for Financial and Insurance Industries (Caishuizi [1997] No.45), discount and bill payment services are handled for financial institutions, and business tax is levied as "other financial services". The income from rediscount and rediscount business of financial institutions belongs to financial institutions, and business tax is not levied temporarily.
(2) According to the relevant provisions of the current financial system of financial and insurance enterprises and the requirements of regulating the financial management of financial and insurance enterprises, the fee income of national debt should be included in the unified accounting of operating income of financial institutions.
The above financial institutions include China People's Bank, commercial banks, insurance companies, securities companies, securities investment fund management companies, trust and investment companies, finance companies, urban credit cooperatives, rural credit cooperatives, etc.
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 Several Tax Issues in the Financial Industry (Caishuizi [2000] 19 1No.):
The head office of each bank pays the business tax in full according to the handling fee charged by the Ministry of Finance, and the handling fee income obtained by each branch from the superior bank is not subject to business tax.
2. Turnover of the insurance industry
The turnover of insurance industry is the premium obtained by insurance institutions in operating insurance business.
(1) On the Tax Issues of Insurance Companies Handling Savings Business
According to the provisions of the Notice on Forwarding the Notice of the State Council on Relevant Issues Concerning the Adjustment of Tax Policies of Finance and Insurance Industry (Caishuizi [1997] No.45):
The deposit business refers to the business in which an insurance company does not directly collect the premium from the insured, but collects a certain amount of due return funds (called deposits) from the insured, and regards the income generated by deposits as premium income.
The turnover of savings business is calculated by multiplying the average savings balance of taxpayers during the tax payment period by the monthly interest rate converted from the one-year deposit rate published by the People's Bank of China. The average savings balance is the sum of the initial savings balance and the final tax balance multiplied by 50%.
After calculating the turnover of savings business according to the above provisions, the premium income of savings business should be deducted from the operating income of the subject of "premium income" when calculating the turnover of other businesses of insurance enterprises.
Taxpayers' income from accumulated savings belongs to the scope of business tax collection, and business tax should be levied in accordance with relevant regulations.
(2) The taxation of initial insurance and reinsurance business.
According to the Detailed Rules for the Implementation of the Provisional Regulations of the People's Republic of China on Business Tax, if the insurance industry implements reinsurance, the turnover of the initial insurance business is the balance of all premium income minus the premium paid to the reinsurance recipient. In order to simplify the procedures, in the actual collection process, the initial insurer can levy taxes according to the full amount of premium income it collects from the insured (that is, the premium expenditure is not deducted), and the business tax is not levied on the premium income obtained by the reinsurer temporarily.
3. According to the Circular on Forwarding the Notice of the State Council on Relevant Issues Concerning the Adjustment of Tax Policies for Financial and Insurance Industry (Caishuizi [1997] No.45), the division of foreign investment and foreign-funded financial enterprises (hereinafter referred to as foreign-funded financial institutions) in special economic zones (including Shanghai Pudong New Area and Suzhou Industrial Park, the same below) from their operating income inside and outside the special zones,
The income obtained by foreign-funded financial institutions in special economic zones from special zones refers to the operating income obtained by foreign-funded financial institutions directly providing financial and insurance services to units located in special zones; Income outside the special zone refers to the operating income obtained by foreign-funded financial institutions directly providing financial and insurance services to units located outside the special zone.
The operating income obtained by foreign-funded financial institutions in the special zone from inside and outside the special zone shall be accounted for separately; If it is not accounted for separately or cannot be accounted for separately, it shall be regarded as business income from outside the special zone and business tax shall be levied.
4. Taxation on bills, voucher fees and post and telecommunications fees collected by financial institutions.
According to the relevant provisions of the Detailed Rules for the Implementation of the Provisional Regulations of the People's Republic of China on Business Tax, financial institutions sell bills, vouchers and checks while providing financial services. It belongs to the mixed sales behavior that should be subject to business tax, and the sales income should be incorporated into the turnover to collect business tax.
According to the relevant provisions of the Provisional Regulations of the People's Republic of China on Business Tax and the Detailed Rules for the Implementation of the Provisional Regulations of the People's Republic of China on Business Tax, the postal and telecommunications fees charged by financial institutions for providing financial and insurance services should also be incorporated into the turnover to collect business tax.
5. On the issue of levying business tax on offshore banks of foreign financial institutions.
According to the implementation rules of the Provisional Regulations of the People's Republic of China on Business Tax and the Notice of State Taxation Administration of The People's Republic of China, People's Republic of China (PRC) on whether or not to levy business tax on the interest and rental income earned by foreign enterprises in China (Guo Shui Fa [1997] No.35), the location of financial institutions is the place where labor services occur. Domestic foreign-funded financial institutions engaged in offshore bank belong to providing taxable business tax services in China, and their interest income should be subject to business tax according to regulations.
For offshore business income other than interest income obtained by foreign-funded financial institutions, for the convenience of management, the place where business tax taxable services occur is temporarily determined according to the interest income treatment method.
Offshore bank refers to the financial activities that banks absorb the funds of non-residents and serve them. Offshore banks include: foreign exchange deposits, foreign exchange loans, foreign exchange interbank lending, international settlement, issuance of large negotiable certificates of deposit, foreign exchange guarantee, consulting witness business and other businesses approved by the State Administration of Foreign Exchange.
6. According to the Notice on Calculating the Turnover of Financial and Insurance Industry by Converting Foreign Exchange into RMB (Tax [1996] 1068), if the financial and insurance industry settles its turnover in foreign exchange, the financial industry will convert its turnover according to the benchmark exchange rate published by the People's Bank of China on the day of receiving foreign exchange or at the end of the quarter, and the insurance industry will convert its turnover according to the benchmark exchange rate published by the People's Bank of China on the day of receiving foreign exchange and calculate business tax.
7. According to the Notice on Taxation of Securities Investment Funds (Tax [1998] 1234):
① The funds raised by issuing funds do not belong to the scope of business tax, and no business tax is levied.
(2) Before the end of 2000, business tax will be temporarily exempted for the difference income of fund managers who use funds to buy and sell stocks and bonds.
(3) levying business tax on the income from the difference in transaction funds of financial institutions (including banks and non-bank financial institutions); Business tax is not levied on the difference income between individuals and non-financial institutions.
8. On the issue of levying business tax on interest receivable of financial enterprises.
According to the Notice of State Taxation Administration of The People's Republic of China, Ministry of Finance of People's Republic of China (PRC) on the Collection of Business Tax on Interest Receivable by Financial Enterprises (Caishui [2002] 182):
① The accounting period of interest receivable of financial enterprises shall be implemented in accordance with the relevant provisions of the financial accounting system formulated by the Ministry of Finance of People's Republic of China (PRC) or State Taxation Administration of The People's Republic of China. According to the Notice of the Ministry of Finance on Shortening the Accounting Period of Interest Receivable of Financial Enterprises (Jin Cai [2002] No.5), the accounting period of interest receivable of financial enterprises was adjusted from 1 in 2002 to 90 days. Therefore, the business tax on loan interest of financial enterprises is adjusted as follows:
After a financial enterprise issues loans (including self-operated loans and entrusted loans, the same below), all interest receivable incurred during the specified accounting period of interest receivable shall be declared and paid business tax according to regulations; Since the interest settlement date, the loan interest receivable that has passed the accounting period of interest receivable or the loan principal has expired (including extension) and has not been recovered shall be declared and paid business tax according to the actually received interest.
② The uncollected interest receivable (including the interest on self-operated loans and entrusted loans, the same below) of financial enterprises that have paid business tax after 2001/kloc-0 can be deducted from the future turnover after the accounting period of uncollected interest receivable expires or the loan principal expires (including extension).
(3) Interest receivable of financial enterprises that have paid business tax before 65438+February 3, 20001shall be deducted from the turnover before 65438+February 3, 20051in principle. However, the interest receivable that has been paid to China Huarong, Great Wall, Dongfang and Cinda Asset Management Company shall not be deducted from the turnover.
(4) Financial enterprises refer to banks (including state-owned, collective, shareholding system, joint venture, foreign-funded banks and other forms of ownership), urban credit cooperatives and rural credit cooperatives, trust and investment companies and finance companies.
(3) Tax rate and calculation formula:
The local tax and business tax rate involved in this industry is 5%.
Calculation formula: tax payable = turnover × applicable tax rate.
Two, urban maintenance and construction tax (omitted)
Three, the education surcharge (omitted)
Four, enterprise income tax (omitted)
Verb (abbreviation of verb) stamp duty
Stamp duty is a kind of voucher tax with behavioral nature, which is levied on all kinds of vouchers listed in the Provisional Regulations on Stamp Duty in People's Republic of China (PRC) in economic activities and economic exchanges. It is divided into ad valorem tax and specific tax.
Tax payable = tax payable × tax rate,
Or tax payable = number of vouchers × unit tax.
1. The loan contract directly signed by financial departments and users will not be honored for the time being; Where a financial unit is entrusted with a loan, the loan contract signed by the financial unit and the user unit shall be stamped as required.
"Inter-bank borrowing" as mentioned in the stamp duty table refers to the mutual financing of short-term funds between banks and non-bank financial institutions in accordance with the provisions of the national credit system. Inter-bank lending contracts are not tax vouchers and are not stamped.
3. The basis for determining the interbank lending contract shall be the Notice of the People's Bank of China on Printing and Distributing the Trial Measures for the Administration of Interbank Lending (Yinfa [1990] No.62). All interbank lending contracts signed in accordance with the prescribed interbank lending period and interest rate shall not be sealed; Who do not meet the conditions, according to the loan contract for decals.
4. The account books set up by institutions at all levels of the People's Bank of China for managing the treasury business and entrusting institutions at all levels of specialized banks to act as agents for the treasury business are not the account books for accounting the bank's own business, and are not stamped.
Personal income tax of intransitive verb
(1) Relevant provisions on individual income tax of insurance salesmen
According to the Notice of Beijing Local Taxation Bureau on Relevant Issues Concerning the Collection of Personal Income Tax by Insurance Salesmen in State Taxation Administration of The People's Republic of China, People's Republic of China (PRC) (J.D.F. [2002] No.406), insurance salesmen (non-employees) in our city can deduct 25% of marketing expenses according to the balance after deducting the actual business tax and surcharges, and then calculate and pay personal income tax according to the expense deduction standard and applicable tax rate stipulated in the Individual Income Tax Law.
(2) Tax provisions on income from dividends obtained by individuals from securities investment funds.
According to the Notice of State Taxation Administration of The People's Republic of China of the Ministry of Finance of People's Republic of China (PRC) on Taxation of Securities Investment Funds (Caishuizi [1998] No.55):
1. Personal income from dividends obtained from investment fund management companies belongs to taxable items of interest and dividends, and personal income tax is levied in full according to the proportional tax rate of 20%. Investment fund management companies are withholding agents and should withhold and remit personal income tax when paying dividends to individuals.
2. For dividends, bonus income and interest income of corporate bonds obtained by investors from fund distribution, listed companies and bond issuing enterprises will withhold and pay 20% of personal income tax when distributing dividends, bonuses and interest to the fund. When the Fund distributes dividends, bonuses and interest to individual investors, it will no longer withhold and remit personal income tax.
3. Individual investors shall levy individual income tax on the differential income of corporate bonds obtained from fund distribution, and the tax shall be withheld and remitted by the fund according to law.
4. Personal income tax shall be levied on the income obtained by fund managers and fund custodians from fund management activities in accordance with the provisions of the tax law.
(three) the provisions of the housing provident fund, medical insurance, basic old-age insurance, unemployment insurance fund personal account deposit interest income shall be exempted from personal income tax.
According to Article 5 of the State Council's "Implementation Measures for Collecting Individual Income Tax on Interest Income from Savings Deposits", "The interest income obtained by individuals from educational savings deposits and other special savings deposits or savings special fund deposits determined by the financial department of the State Council shall be exempted from individual income tax". In order to ensure and support the smooth implementation of the social security system and housing system reform, it is now clear that the interest income obtained from the following special funds or funds paid and deposited in personal accounts of banks according to the proportion stipulated by the state or provincial local governments shall be exempted from individual income tax, housing provident fund, medical insurance and basic pension.