On May 1st, the comprehensive promotion of "VAT reform" (business tax to value-added tax) is now in sight. As the highlight of China's deepening fiscal and tax reform, "VAT reform" is being given high hopes by high-level officials.
According to the relevant situation of the previous government work report deployment, the scope of the "camp reform" pilot will be expanded to the construction industry, real estate industry, financial industry and life service industry, and all enterprises will add the value-added tax included in the real estate into the scope of deduction To ensure that the tax burden of all industries only decreases and does not increase. This includes the health service industry, which means that the pharmaceutical industry can also enjoy the policy dividend of the government's "camp reform".
However, the reporter from the First Financial News learned that the implementation of the "camp reform" is actually a situation of "someone rejoices and some worry" for pharmaceutical companies.
In the long run, the implementation of "VAT reform and increase" can play a role in promoting the reduction of costs and increase of business for pharmaceutical companies.
According to the plan, the biggest feature of "VAT reform" is the reduction of repeated taxes. For example, after registering as a general taxpayer, a service industry enterprise can deduct the relevant input for the purchase of fixed assets, goods and services. For manufacturing companies, goods wholesale and retail companies can deduct input related to receiving services. The business tax costs that pharmaceutical companies usually incurred in the past may not incur any actual value-added tax costs after the increase in business reform.
In terms of business promotion, customers will be more willing to purchase the products or services of pharmaceutical companies in order to realize the deduction of input tax, rather than spend large costs on their own production. Pharmaceutical companies can also obtain stable customers and share the value of VAT. New business opportunities.
In addition, after a pharmaceutical company becomes a VAT taxpayer, the related party transactions within the group will no longer repeatedly pay business tax, and the outsourcing services purchased by the company can also be included in the input deduction, which will also help companies to refine The division of labor between professionalization and specialization.
However, it was also pointed out that the emergence of "revenue reform" will inevitably lead to stricter tax verification. For enterprises, only real trade transactions can make enterprises really benefit from it. Gone are the days gone.
"In the past, the sales tax was based on the sales tax rate and the fixed tax amount. For example, if the sales is 10 million, the 5% tax rate is a fixed sales tax of 500,000. However, the value-added tax is the same sales revenue of 10 million. The sales tax may be 6% (biological products as an example), and the tax is 600,000, but the 600,000 can be deducted from the input tax. For example, if your raw materials pay 200,000 tax, then the actual enterprise pays the tax. The amount is only 400,000. "Wang Jiajiao, executive partner of Gaotejia Investment, explained to the First Financial Reporter:" No one paid attention to the previous fixed tax, and no one will check it, but in order to ensure the correct tax in the case of VAT. The tax on input and output will be checked, so that in the past, the enterprise's tax operation space will become smaller, and the actual enterprise's live money will be reduced. "
This situation is particularly significant in pharmaceutical distribution companies.
In this regard, some people in the industry believe that in the logistics industry, expanding the scale to reduce costs is a necessary measure, but "because small and medium-sized pharmaceutical logistics enterprises have not formed a scale, after the" camp reform ", small and medium-sized pharmaceutical logistics enterprises may Facing mergers and acquisitions and transformation.
According to the relevant situation of the previous government work report deployment, the scope of the "camp reform" pilot will be expanded to the construction industry, real estate industry, financial industry and life service industry, and all enterprises will add the value-added tax included in the real estate into the scope of deduction To ensure that the tax burden of all industries only decreases and does not increase. This includes the health service industry, which means that the pharmaceutical industry can also enjoy the policy dividend of the government's "camp reform".
However, the reporter from the First Financial News learned that the implementation of the "camp reform" is actually a situation of "someone rejoices and some worry" for pharmaceutical companies.
In the long run, the implementation of "VAT reform and increase" can play a role in promoting the reduction of costs and increase of business for pharmaceutical companies.
According to the plan, the biggest feature of "VAT reform" is the reduction of repeated taxes. For example, after registering as a general taxpayer, a service industry enterprise can deduct the relevant input for the purchase of fixed assets, goods and services. For manufacturing companies, goods wholesale and retail companies can deduct input related to receiving services. The business tax costs that pharmaceutical companies usually incurred in the past may not incur any actual value-added tax costs after the increase in business reform.
In terms of business promotion, customers will be more willing to purchase the products or services of pharmaceutical companies in order to realize the deduction of input tax, rather than spend large costs on their own production. Pharmaceutical companies can also obtain stable customers and share the value of VAT. New business opportunities.
In addition, after a pharmaceutical company becomes a VAT taxpayer, the related party transactions within the group will no longer repeatedly pay business tax, and the outsourcing services purchased by the company can also be included in the input deduction, which will also help companies to refine The division of labor between professionalization and specialization.
However, it was also pointed out that the emergence of "revenue reform" will inevitably lead to stricter tax verification. For enterprises, only real trade transactions can make enterprises really benefit from it. Gone are the days gone.
"In the past, the sales tax was based on the sales tax rate and the fixed tax amount. For example, if the sales is 10 million, the 5% tax rate is a fixed sales tax of 500,000. However, the value-added tax is the same sales revenue of 10 million. The sales tax may be 6% (biological products as an example), and the tax is 600,000, but the 600,000 can be deducted from the input tax. For example, if your raw materials pay 200,000 tax, then the actual enterprise pays the tax. The amount is only 400,000. "Wang Jiajiao, executive partner of Gaotejia Investment, explained to the First Financial Reporter:" No one paid attention to the previous fixed tax, and no one will check it, but in order to ensure the correct tax in the case of VAT. The tax on input and output will be checked, so that in the past, the enterprise's tax operation space will become smaller, and the actual enterprise's live money will be reduced. "
This situation is particularly significant in pharmaceutical distribution companies.
In this regard, some people in the industry believe that in the logistics industry, expanding the scale to reduce costs is a necessary measure, but "because small and medium-sized pharmaceutical logistics enterprises have not formed a scale, after the" camp reform ", small and medium-sized pharmaceutical logistics enterprises may Facing mergers and acquisitions and transformation.
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