The standard anti-corruption drama "In the Name of the People" has finally entered its finale amidst the popularity of the public, and the convictions and sentencing of the protagonists are all presented. But have you noticed that there are a lot of "tax" things hidden in this popular drama. Taxation is one of the important economic levers for the country's macroeconomic control. It is closely related to your and my daily life. Let's go together Take a look at what tax law knowledge the play involves.
Tax Analysis 1 - Value-Added Tax Plot Review: Dafeng Factory and Shanshui Group carry out asset reorganization. Tax law knowledge:
Tax-related analysis No. 2 - Deed tax plot review: Dafeng Factory goes bankrupt, and Shanshui Group serves as a creditor.
Tax Law Knowledge: Enterprise Bankruptcy
After an enterprise goes bankrupt in accordance with the provisions of relevant laws and regulations, if the creditor takes over the land and house ownership of the bankrupt enterprise to pay off the debt, the deed tax will be exempted; If a non-creditor takes over the land and house ownership of a bankrupt enterprise, if all the employees of the original enterprise are properly resettled in accordance with the "Labor Law", and any employee who has signed a labor contract with a service period of not less than 3 years with more than 30 employees of the original enterprise, they will inherit the purchased enterprise. For land and house ownership, the deed tax will be halved; if a labor contract with a service period of not less than 3 years is signed with all employees of the original enterprise, the deed tax will be exempted.
The relevant tax-related analysis in the play can be summarized as follows:
Tax-related analysis 3 - Corporate income tax
Plot review: Dafeng Garment Factory is in Jingzhou After the loan from the commercial bank expired and bridge funds were needed, the company pledged its equity and borrowed 50 million yuan from Shanshui Group with a daily interest rate of four thousandths. Half a year later, because it could not repay the loan from Shanshui Group, the court ruled that the equity of Dafeng Garment Factory belonged directly to Shanshui Group.
Tax law knowledge: Deduction of corporate income tax interest expenses:
(1) Interest expenses of non-financial enterprises borrowing from financial enterprises, various deposit interest expenses of financial enterprises and inter-bank lending interest Expenditures and interest expenses on bonds issued by an enterprise upon approval are allowed to be deducted.
(2) Interest expenses incurred by non-financial enterprises on borrowings from non-financial enterprises shall be deducted if they do not exceed the amount calculated based on the interest rate of similar loans of financial enterprises during the same period.
Connect the relationships in the play and summarize them as follows:
Tax-related analysis No. 4 - Personal income tax
Plot review: "In the Name of the People" TV series It is adapted from the novel of the same name. So the actors, producers and the author of the book have all obtained certain income after the filming of the TV series. Do these incomes need to be subject to personal income tax? Or under what items should personal income tax be paid? What? The following is presented to you:
Tax law knowledge:
In explanation, pay attention to distinguishing between royalties income, author remuneration income and property transfer income.
Explain the income obtained from providing the right to use copyright, excluding income from royalties (individual transfer of copyright is exempt from value-added tax).
Income from royalties
Income from royalties refers to the income obtained by individuals from providing the right to use patent rights, trademark rights, copyrights, non-patented technologies and other franchises. .
Interest, dividend, and bonus income
Interest, dividend, and bonus income refer to the interest, dividend, and bonus income obtained by individuals from owning debts and equity.
Connect the relationships in the play and summarize them as follows:
Tax-related Analysis No. 5 - International Taxation
Plot Review: In the ups and downs of the plot We have seen that the drama involves cross-border business many times, so what is the tax theory behind it? Let’s start with you one by one.
Tax law knowledge: the content and mechanism of the automatic exchange standard for financial account tax-related information
The AEOI standard is composed of the "Model Competent Authority Agreement (hereinafter referred to as "MCAA") It consists of two parts: Common Reporting Standard (Common Reporting Standard, hereinafter referred to as "CRS").
MCAA is an operational document that regulates how tax authorities* in various countries (regions) carry out automatic exchange of financial account tax-related information. It is based on a reciprocal model and is divided into two versions: bilateral and multilateral. CRS stipulates the relevant requirements and procedures for financial institutions to collect and report personal and corporate account information of foreign tax residents.
From January 1, 2017, financial institutions in my country will perform due diligence procedures in accordance with AEOI standards, identify non-resident individual and corporate accounts opened with the institution, collect and submit account-related information, The State Administration of Taxation regularly exchanges information with tax authorities* of other countries (regions). my country’s first external exchange of tax-related information on non-resident financial accounts was in September 2018.
Based on the current popular global taxation, let’s analyze the Chinese version of CRS as shown below: