do you know? Bank wealth management products and fund trusts belong to asset management products. On June 3th this year, the Ministry of Finance and State Taxation Administration of The People's Republic of China issued the Notice on Issues Related to Value-added Tax on Asset Management Products (Cai Shui [217] No.56), which clarified the collection methods of asset management products and other contents, and will be implemented as of January 1st, 218. The following Mande Enterprise Service will sort out the specific content of this new regulation for you.

First, let's clarify two concepts

1. Asset management product managers:

Including banks, trust companies, Public Offering of Fund management companies and their subsidiaries, securities companies and their subsidiaries, futures companies and their subsidiaries, private equity fund managers, insurance asset management companies, professional insurance asset management institutions, pension insurance companies and other asset management product managers stipulated by the Ministry of Finance and the State Administration of Taxation.

2. Asset management products:

Including bank wealth management products, fund trusts (including collective fund trusts and single fund trusts), property rights trusts, publicly offered securities investment funds, asset management plans for specific customers, collective asset management plans, targeted asset management plans, private investment funds, debt investment plans, equity investment plans, stock-debt combined investment plans, asset support plans, portfolio insurance asset management products and pension plans.

second, then, what provisions does this article make on the collection of value-added tax on asset management products?

1. for the taxable activities of value-added tax (hereinafter referred to as asset management product operation business) occurring in the process of asset management product management (hereinafter referred to as the manager), the simple tax calculation method is applied temporarily, and the value-added tax is paid at the rate of 3%.

compared with the general tax method of 6%, this will reduce the tax burden of taxpayers.

2. the manager accepts the management services provided by investors or trusts to the entrusted assets and other taxable activities of value-added tax (hereinafter referred to as other businesses) that occur in the manager, and pays the value-added tax according to the current regulations.

For example, the management fees, sales fees, custody fees and other fees charged by the general taxpayer managers should be calculated at the rate of 6%.

3. The manager shall separately calculate the sales amount and VAT payable of the asset management product operation business and other businesses. Without separate accounting, the provisions of Article 1 of this Notice shall not apply to the operation of asset management products.

4. the manager can choose to separately or collectively account for the sales of asset management products and the VAT payable.

5. For the taxable activities of value-added tax that occurred during the operation of asset management products before January 1, 218, if the value-added tax has not been paid, it will not be paid; If the value-added tax has been paid, the amount paid shall be deducted from the value-added tax payable of the asset management product manager in the following month.

6. the administrator shall report and pay the value-added tax for asset management product operation and other businesses in a consolidated manner according to the prescribed tax payment period.

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