What does the tax credit refund mean?

Excess tax credit refund, its scientific name is "VAT tax credit refund discount", which means that the "input" VAT that cannot be deducted now and can be deducted in the future will be refunded in full in advance. .

Since the implementation of the large-scale value-added tax refund policy on April 1, 2022, six departments including the State Administration of Taxation have taken action to crack down on illegal and criminal acts of fraudulently obtaining excess tax refunds on a regular basis, effectively ensuring that the policy The implementation is stable. From April 1 to July 12, 5,244 companies across the country have been found to have fraudulently or illegally obtained excess tax refunds, and a total of 8.456 billion yuan in excess tax refunds and other tax losses have been recovered.

The policy starts from April 1, 2022

Industry type small and micro enterprises (including self-employed)

The industry scope includes all industries, manufacturing and other industries

The manufacturing and other industry enterprises mentioned in this announcement refer to the "manufacturing industry", "scientific research and technical service industry", and "electricity, heat, gas and water production" in the "National Economic Industry Classification" and supply industry”, “software and information technology service industry”, “ecological protection and environmental management industry” and “transportation, warehousing and postal industry” businesses account for more than 50% of the total value-added tax sales of taxpayers.

Calculation Calculation of Overtax Credit

Before a taxpayer with incremental tax credit obtains a one-time refund of the tax credit on stock, the incremental tax credit shall be the sum of the tax credit at the end of the current period and the tax credit in March 2019 The newly increased amount of retained tax credit compared to March 31. ?After the taxpayer obtains a one-time refund of the existing tax credit, the incremental tax credit amount shall be the ending tax credit amount of the current period.

Before a taxpayer with existing retained tax credits obtains a one-time refund of retained tax credits, if the ending tax credit of the current period is greater than or equal to the ending tax credit as of March 31, 2019, the remaining retained tax credit will be March 2019. The ending tax credit as of March 31, 2019; if the tax credit as of the end of the current period is less than the tax credit as of March 31, 2019, the remaining tax credit shall be the tax credit as the tax credit at the end of the current period. After a taxpayer obtains a one-time refund for the existing excess tax credit, the amount of the existing excess tax credit will be zero.

?Tax refund formula

The incremental tax credit allowed to be refunded The incremental tax credit allowed to be refunded = Incremental tax credit × input composition ratio × 100

The amount of stock retained tax credit allowed to be refunded

The amount of stock retained tax credit allowed to be refunded = the stock retained tax credit × input composition ratio × 100

Input composition ratio from April 2019 to application Special value-added tax invoices that have been deducted for the tax period before the tax refund (including fully digitized electronic invoices with the words "Special Value-Added Tax Invoice", unified invoices for tax-controlled motor vehicle sales), and electronic general VAT invoices for toll highway tolls , the proportion of the value-added tax indicated in the customs import VAT payment certificate and the tax payment voucher to the total input tax deducted during the same period. ?

The conditional tax credit rating is A or B; ? There has been no fraudulent use of excess tax refunds, export tax refunds or false VAT invoices in the 36 months before applying for tax refund; ? Before applying for tax refund Have not been punished twice or more by the tax authorities for tax evasion in 36 months; Have not enjoyed the policy of refund after tax or refund after tax starting from April 1, 2019. ?