What do you mean by tax deduction for company invoices?

Invoice deduction means that the general taxpayer can deduct the value-added tax, that is, the tax payable by the general taxpayer is equal to the current output tax MINUS the current input tax. The output tax refers to the value-added tax that the taxpayer collects from the buyer according to the sales amount and the value-added tax rate. Input tax refers to the value-added tax paid or borne by taxpayers when they purchase goods or accept taxable services.

Taxpayers engaged in production and business operations shall, if the contents of tax registration change, report to the tax authorities for change or cancellation of tax registration with relevant documents within 30 days from the date when the administrative department for industry and commerce handles the change registration or before applying for cancellation of registration to the administrative department for industry and commerce.

Legal basis: Article 15 of the Law of People's Republic of China (PRC) on the Administration of Tax Collection.

Enterprises, branches engaged in production and business operations, individual industrial and commercial households and institutions engaged in production and business operations established by enterprises in other places and places (hereinafter referred to as taxpayers engaged in production and business operations) shall, within 30 days from the date of obtaining business licenses, report to the tax authorities for tax registration with relevant documents. The tax authorities shall register the declaration on the day it is received and issue a tax registration certificate.

The administrative department for industry and commerce shall regularly notify the tax authorities of the registration and issuance of business licenses.

The scope and methods for taxpayers other than those specified in the first paragraph of this article to register tax and withholding agents to register tax withholding shall be stipulated by the State Council.