Report on the accounting method of single investment fund in partnership venture capital enterprises

Application conditions

Partnership venture capital enterprises (funds) that meet the relevant provisions of the Interim Measures for the Administration of Venture Capital Enterprises (Order No.39 10 of the Development and Reform Commission and other departments) or the Interim Measures for the Supervision and Administration of Private Investment Funds (Order No.0/05 of the CSRC) and have completed the filing and standardized operation can choose one of two ways: according to a single investment fund or according to the overall annual income of venture capital enterprises. If the above-mentioned partnership venture capital enterprises choose to use a single investment fund for accounting, they shall report their accounting methods to the competent tax authorities for the record.

Set the foundation

The Ministry of Finance, State Taxation Administration of The People's Republic of China Development and Reform Commission, and the Securities Regulatory Commission on Individual Partners of Venture Capital Enterprises

Article 6 of the Notice on Income Tax Policy (Caishui [2065438+09] No.8)

Handling materials

serial number

Material name

amount

comment

1

Record Form of Accounting Method for Single Investment Fund of Partnership Venture Capital Enterprise

2

share

Handling place

Can be handled through the tax service hall (place).

Processing organization

Competent tax authorities

charging standards

be free of charge

Processing time

Immediate settlement

Contact number

(02 1) 12366

Treatment process

Matters needing attention of withholding agent

1. The withholding agent shall be responsible for the authenticity and legality of the materials submitted.

2. The document form can be downloaded from the "Download Center" section of the website of the tax bureaus of all provinces (autonomous regions, municipalities directly under the Central Government and cities under separate state planning), and can also be collected at the tax service hall.

3. If a venture capital enterprise chooses a single investment fund for accounting, it shall, within 30 days after completing the filing in accordance with the Interim Measures for the Administration of Venture Capital Enterprises (Order No.39 of the Development and Reform Commission and other departments 10) or the Interim Measures for the Supervision and Administration of Private Investment Funds (Order No.05 of the CSRC), make accounting filing with the competent tax authorities; Failing to put on record as required, it shall be deemed as choosing to conduct overall accounting according to the annual income of venture capital enterprises.

4. The accounting of a single investment fund refers to the equity transfer income and dividends obtained by a single investment fund (including venture capital enterprises not established in the name of the fund) from different venture capital projects in a tax year, and shall be accounted and taxed separately according to the following methods:

(1) Income from equity transfer. The equity transfer income of a single investment project shall be calculated according to the balance of the annual equity transfer income after deducting the original value of the corresponding equity and the reasonable expenses of the transfer link. The method of determining the original value of equity and the reasonable cost of the transfer link shall be implemented with reference to the relevant policies and regulations on individual income tax from equity transfer; The income from equity transfer of a single investment fund shall be calculated according to the profit and loss difference of different investment projects in a tax year. If the balance is greater than or equal to zero, it is recognized as the annual equity transfer income of the fund; If the balance is less than zero, the annual equity transfer income of the fund is calculated as zero and cannot be carried forward across years. Individual partners shall calculate their tax payable according to their share in the annual equity transfer income of the fund, and the venture capital enterprise shall withhold and remit individual income tax before March 3 1 of the following year.

(2) Dividend income. The dividend income of a single investment fund shall be calculated in full from the dividends, dividend income and other fixed-income securities distributed by the invested project.

Individual partners calculate their tax payable according to their dividend income from the fund, and venture capital enterprises withhold and remit individual income tax every time.

(3) In addition to the above-mentioned deductible costs and expenses, other expenses incurred by a single investment fund, including management fees and performance rewards of investment fund managers, shall not be deducted during accounting.

5. The single investment fund accounting method is only applicable to calculating the tax payable of a single partner of a venture capital enterprise.

6. If a venture capital enterprise chooses a single investment fund for accounting, its individual partners shall pay personal income tax at a reduced rate of 20% on the income from equity transfer and dividends of the fund. If a venture capital enterprise chooses to calculate its annual income as a whole, its individual partners shall calculate and pay individual income tax according to the excessive progressive tax rate of 5%-35% of the "operating income" items.

7. After the venture capital enterprise chooses to calculate according to a single investment fund or according to the overall annual income of the venture capital enterprise, it cannot be changed within 3 years. If the venture capital enterprise chooses the accounting method and needs to adjust it after 3 years, it shall re-declare to the competent tax authorities before 1 in the following year after 3 years.

8. When a partnership venture capital enterprise accounting for a single investment fund is selected according to regulations to handle the annual declaration of withholding income from equity transfer, it shall submit the Declaration Form of Individual Income Tax Withheld by a Partnership venture capital enterprise accounting for a single investment fund to the competent tax authorities before March 3/KLOC-0 of the following year.