Pay taxes according to different classifications.
Value-added tax is an indirect tax levied on taxable activities. How taxpayers pay VAT depends on their specific VAT taxable behavior. The policy interpretation of some clauses in the document Caishui [20 16] 140 issued by the Department of Taxation of the Ministry of Finance also clearly stipulates that "it is necessary to judge whether VAT should be paid according to the nature of the income obtained and pay VAT according to the current regulations".
According to the classification of "financial services" in the pilot implementation method of changing business tax to value-added tax, the taxable behaviors of private equity funds mainly include the following:
(1) loan service
Interest income obtained by private equity funds from lending funds to others, including interest income (capital preservation income, remuneration, capital occupation fee, compensation, etc.). ) Interest income from buying back-selling wealth management products during the holding period of wealth management products (including expiration). , VAT shall be paid according to "loan service".
Among them, the above-mentioned "guaranteed income, remuneration, capital occupation fee, compensation, etc." Refers to the investment income that is clearly promised in the contract that the due principal can be fully recovered.
In other words, if private equity funds invest in bank loans, corporate bonds and other interest-bearing income, they should pay VAT. Considering the limited input tax deduction for private fund managers' "loan service", the provision of "paying value-added tax at the rate of 3%" in Caishui [2065438+07] No.56 greatly reduces the value-added tax burden of "loan service".
It should be reminded that according to the provisions of the pilot transition policy of changing business tax to value-added tax, the interest income obtained by private equity funds investing in government bonds and local government bonds is exempt from value-added tax.
(2) Transfer of financial commodities
According to the provisions of the pilot transition policy of changing business tax to value-added tax, the income from the transfer of financial commodities obtained by managers of securities investment funds (closed-end securities investment funds and open-end securities investment funds) by using funds to buy and sell stocks and bonds is exempt from value-added tax.
In view of the fact that the Securities Investment Fund Law has clearly included private equity funds in the scope of securities investment funds, the above-mentioned preferential policy of exemption from value-added tax is also applicable to the income from the transfer of financial commodities obtained by private equity funds from buying and selling stocks and bonds.
For the income obtained by private equity funds from the transfer of financial commodities such as foreign exchange and non-commodity futures, value-added tax shall be levied in accordance with the provisions of Cai Shui [2017] No.56.
Of course, private equity funds may get stock dividends during their holding of stocks. Since stock dividends are not guaranteed income, according to Caishui [2065 438+06] 140, these stock dividends are not subject to VAT.
Extended data
Note: It is assumed that VAT surtax = taxable amount × 12%. In practice, the VAT surtax rate will vary from place to place.
(1) Contractual private equity fund A received a fund management fee of 500,000 yuan (without input tax) in this period. In addition, when buying and selling corporate bonds in this period, the buying price is100000 yuan and the selling price is1100000 yuan. During this period, I received interest of RMB 500,000 on corporate bonds and RMB 300,000 on debt.
1. Management fee
500,000 yuan is the sales amount of direct charge financial services, and the tax payable is calculated according to the general tax method and the tax rate of 6%.
Taxable amount = [sales amount including tax ÷( 1 tax rate )× tax rate-current input tax amount ]×( 1 VAT additional tax rate)
=[50÷( 16%)×6%-0]×( 1 12%)
About 3 1.7 million
Taxpayer: the manager of the contract fund.
2. Bond bid-ask spread
1100-1000 =1000,000 yuan is the sales of financial goods, and the taxable amount is calculated according to the simple tax calculation method and the collection rate of 3%.
Taxable amount = sales amount including tax ÷( 1 collection rate) × collection rate ×( 1 VAT surcharge rate)
= 100 w÷( 13%)×3%×( 1 12%)
About 32600
Taxpayer: the manager of contractual private equity fund.
3. Bond interest
The interest of 500,000 yuan on corporate bonds is the sale of loan services, and the income from debt interest is tax-free. According to the simple tax calculation method, the tax payable is calculated at the rate of 3%.
Taxable amount = sales amount including tax ÷( 1 collection rate) × collection rate ×( 1 VAT surcharge rate)
= 50w \u( 13%)×3%×( 1 12%)
About 1.63 million
Taxpayer: the manager of contractual private equity fund.
(2) Limited partnership private equity funds bought and sold local government bonds in this period, with a purchase price of 5 million yuan and a selling price of 5.02 million yuan. Limited partnerships are ordinary taxpayers.
Bond bid-ask spread
502-500 = 20000 yuan is the sales amount of financial goods transfer. In this case, the tax payable should be calculated according to the general tax method of 6%.
Taxable amount = [sales amount including tax ÷( 1 tax rate )× tax rate-current input tax amount ]×( 1 VAT additional tax rate)
=[20000÷( 16%)×6%-0]×( 1 12%)
About 1267.92 yuan
Taxpayer: limited partnership.