Although stamp duty is very small, it is closely related to everyone’s business operations.
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What are the major changes in stamp duty in 2021? 1. The "Stamp Duty Law of the People's Republic of China" was officially promulgated and will be officially implemented on July 1, 2022. 2. The simplification of stamp duty declaration will be implemented from June 2021.
What are the major changes in the Stamp Duty Law compared with the "Interim Regulations on Stamp Duty"?
1. The scope of taxation has been reduced and the stamp tax of 5 yuan per piece of rights and licenses has been cancelled. Regulation.
2. Reduced tax rates 1. The stamp tax rate for contract contracts, construction project contracts, and transportation contracts has been reduced from the original 50,000% to 30,000%. 2. The tax rate is reduced for some property rights transfer contracts: the stamp tax rate for transfer documents of trademark rights, copyrights, patent rights, and proprietary technology use rights is reduced from the original 5/10,000 to 3/10,000. 3. The stamp tax rate on business books has been reduced from the original 5/10,000 to "total paid-in capital and capital reserves" to 2.5/10,000, and the provisions of Finance and Taxation [2018] No. 50 have been directly incorporated into legislation.
3. Clarify that value-added tax is not calculated and paid as stamp duty. Article 5 of the Stamp Duty Law clearly stipulates that the basis for calculating tax on a taxable contract is the amount listed in the contract, excluding the listed value-added tax. The tax calculation basis for taxable property rights transfer documents is the amount listed in the property rights transfer documents, excluding the listed value-added tax. That is to say, if we separately list the VAT-exclusive amount, VAT-inclusive amount and total tax-included amount during the contract conclusion process, as long as the VAT amount is specified, stamp duty can be paid based on the tax-exclusive amount. Note: If the taxpayer signs a contract with a tax-inclusive price and does not specify the value-added tax separately, the stamp tax must be paid in full.
4. The mantissa requirement is cancelled, and the tax is paid directly according to the actual calculated tax. Article 3 of the "Interim Regulations on Stamp Duty" stipulates: If the tax payable is less than one cent, stamp duty is exempted. If the amount of tax payable is more than one jiao, the tax amount less than five points will not be counted, and the tax amount that is more than five points will be calculated and paid as one jiao. The new Stamp Duty Act directly abolishes this provision. In other words, starting from July 1, 2022, taxpayers no longer need to round when calculating stamp duty. From now on, the amount you calculate will be the amount, and you no longer have to worry about the difference between payable and actual payment.
5. Provisions on New Stamp Duty Withholding Agents The "Interim Regulations on Stamp Duty" do not provide for how overseas individuals pay stamp tax and whether withholding at source can be implemented. This legislation adds provisions in this regard: Units and individuals who write taxable certificates outside the People's Republic of China and use them within the country shall pay stamp tax in accordance with the provisions of this law. However, as for how overseas individuals pay stamp tax, Whether withholding at source can be implemented was not stipulated in the original interim regulations. This legislation adds provisions on the statutory withholding obligations of stamp duty: If the taxpayer is an overseas unit or individual and has an agent within the country, its domestic agent shall be the withholding agent; if there is no agent within the country, the taxpayer shall declare and pay the stamp duty on its own. Stamp duty, the specific measures shall be prescribed by the taxation department of the State Council.
6. Clarify the tax payment deadline and tax location. The "Interim Regulations on Stamp Duty" do not clearly specify the tax payment deadline and tax payment location. The just-passed Stamp Duty Law clarifies the tax payment time and tax location.
Stamp tax is levied quarterly, annually or on a per-time basis. If the tax is collected on a quarterly or annual basis, the taxpayer shall declare and pay the tax within 15 days from the end of the quarter or year; if the tax is collected on a per-time basis, the taxpayer shall declare and pay the tax within 15 days from the date when the tax obligation arises. payment. Stamp tax on securities transactions is paid on a weekly basis. The withholding agent for stamp tax on securities transactions shall declare the payment of tax and bank settlement interest within 5 days from the end of each week.
Place of tax payment
Taxpayers as entities: should declare and pay stamp tax to the competent tax authority where their institution is located.
The taxpayer is an individual: The taxpayer shall declare and pay stamp tax to the competent tax authority at the place where the taxable certificate is issued or the taxpayer's residence.
When the property rights of real estate are transferred: stamp duty must be declared and paid to the competent tax authority where the real estate is located.
7. The practice of light taxes and heavy penalties was cancelled, and the "Interim Regulations on Stamp Duty" were uniformly implemented in accordance with the Collection and Administration Law. There is a tradition of light taxes and heavy penalties: If a taxpayer commits any of the following acts, the tax authorities will Punishments will be imposed depending on the severity of the circumstances: 1. If no tax stamp is affixed or less than affixed to the taxable voucher, the tax authorities, in addition to ordering the tax stamp to subsidize the tax stamp, may impose a fine of not more than 20 times the amount of the tax stamp that should be subsidized; 2. Violation of these Regulations As stipulated in the first paragraph of Article 6, the tax authorities may impose a fine of not more than 10 times the amount of the tax stamps that have not been canceled or canceled; 3. In violation of the provisions of the second paragraph of Article 6 of these Regulations, the tax authorities may impose a fine of not more than 30 times the amount of the reused tax stamps. times the fine. Anyone who forges tax stamps shall be submitted by the tax authorities to the judicial authorities for criminal liability in accordance with the law.
The Stamp Duty Law cancels this provision: it will be uniformly collected and managed by the tax authorities in accordance with the provisions of this law and the "Tax Collection and Administration Law of the People's Republic of China".
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What needs to pay stamp duty?
1. Economic contract. Contracts subject to the 0.05‰ tax rate include: loan contracts. Contracts applicable to the 0.3‰ tax rate include: purchase and sales contracts; construction and installation project contract contracts; technology contracts. Contracts subject to the 0.5‰ tax rate include: processing contract; construction project survey and design contract; and cargo transportation contract. Contracts subject to the 1‰ tax rate include: property leasing contracts; warehousing and custody contracts; and property insurance contracts.
2. Property transfer documents: tax rate of 0.5%. 1 Property ownership 2 Copyright 3 Trademark exclusive rights 4 Patent rights 5 Right to use proprietary technology 6 Land use rights transfer contract 7 Land use rights transfer contract 8 Commercial housing sales contract
3. Business account books. 1 Five ten thousandths of the total amount of "paid-in capital" and "capital reserve". 2 Account books are used as the tax calculation quantity, and a discount of five yuan is applied to each book every year.
4. Rights and licenses. Stamp duty payable = 5 yuan per certificate.
Note: 1. If the parties to an economic contract involve two or more parties, all parties are taxpayers (excluding witnesses, guarantors, and appraisers) and are required to pay stamp duty. 2. Taxpayers who sign taxable certificates in electronic form shall also pay stamp duty in accordance with regulations. 3. If the signed contract is not executed or executed on time, stamp duty should be paid in accordance with regulations. 4. Loan contracts between enterprises do not need to pay stamp duty.
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80 situations where stamp duty is exempted
1. 4 inclusive categories.
2. 2 discounts for small and micro enterprises.
3. Promote regional development 2 items.
4. 11 housing-related discounts.
5. Social security 2 items.
6. 4 items in culture and education.
7. Sports 6 items.
8. Transportation category 4 items.
9. 28 items in the financial category.
10. 4 items related to agriculture, rural areas and farmers.
11. 9 items of enterprise transformation and upgrading.
12. Supports 4 product reserve discounts.