Does the company pay income tax on the income from the bank s purchase of capital protection?

Whether the company's wealth management income is taxable is determined by the nature of the wealth management products invested

1. Interest income from treasury bonds.

The announcement on the treatment of enterprise income tax on the investment business of enterprise treasury bonds (Announcement No. 36 [2011] of the State Administration of Taxation) stipulates that the interest income of the treasury bonds obtained by an enterprise from the issuer shall be fully exempted from enterprise income tax if the treasury bonds purchased by an enterprise through direct investment are held to maturity.

2. Income from investment bank wealth management products.

Principal and Interest Guaranteed Wealth Management is a wealth management model that charges fixed interest for investing in principal guaranteed products, that is, in this type of wealth management model, the enterprise does not bear the investment risk and only collects fixed profits, which should pay business tax. According to Article 5 of the Notice of the State Administration of Taxation on Printing and Distributing the Administrative Measures for the Declaration of Business Tax of Financial and Insurance Enterprises (Guo Shui Fa [2002] No. 9).

1. Guaranteed principal and interest financial management.

For the investment of capital guaranteed products to charge a fixed interest management model, that is, in this type of financial management model, the enterprise does not bear the investment risk, only collects a fixed profit, this model should pay business tax. According to Article 5 of the Notice of the State Administration of Taxation on Printing and Distributing the Administrative Measures for the Declaration of Business Tax of the Financial and Insurance Enterprises (Guo Shui Fa [2002] No. 9), the act of investing monetary funds but receiving fixed profits or guaranteed profits also belongs to the so-called loan business.

According to Article 3 of the Notice of the State Administration of Taxation on Printing and Distributing the Annotations to Business Tax Items (Trial Draft) > (Guo Shui Fa [1993] No. 149), loans fall within the scope of the financial and insurance industry, and the fixed profits collected shall be subject to business tax in accordance with the "financial and insurance industry". Therefore, the wealth management model of guaranteed principal and interest payment should be subject to business tax.

2. Non-guaranteed principal and guaranteed floating income.

These are two forms of financial management mode, one is non-principal protection and floating income; The second is capital preservation, but the income is not fixed. Do these two financial models involve business tax? For this financial management model, due to the lack of clarity in the policy documents, there are great differences in implementation.

According to the notice of the State Administration of Taxation on printing and distributing the > of the Annotations to Business Tax Items (Trial Draft) (Guo Shui Fa [1993] No. 149), no business tax shall be levied on the investment of intangible assets, participation in the profit distribution of the investee, and joint sharing of investment risks. Whether investing in wealth management products with non-principal-guaranteed or principal-guaranteed floating income can be understood as an act of jointly bearing investment risks, it is regarded as investment income and is not subject to business tax.

This view needs to be further supported by the policy paper.

Enterprise income tax: According to the Enterprise Income Tax Law, such income is income from the transfer of property and falls within the scope of enterprise income tax. There is only one exception, dividends, bonuses and other equity investment income between eligible resident enterprises are tax-exempt income, and the dividends, bonuses and other equity investment income referred to here do not include the investment income obtained from the public offering and listing of resident enterprises for less than 12 months.

【Question】 If a manufacturing company purchases wealth management products from banks, does it still need to pay enterprise income tax on the income it obtains? 【Answer】 (1) According to the ".

Enterprise Income Tax Law of the People's Republic of China.

1) Income from the sale of goods;

2) Provision of income from labor services;

3) Income from the transfer of property;

4) Dividends, bonuses and other equity investment income; (5) Interest income;

6) Rental income;

7) royalty income;

8) Receiving income from donations;

9) Other income.

According to the above provisions, the income obtained by enterprises from wealth management products purchased from banks does not involve turnover tax in the national tax, but involves enterprise income tax, and the income (income) obtained by them shall be incorporated into the taxable income of the current year, and the enterprise income tax shall be paid together with other income.

About the Individual Income Tax Law Wealth Management Income1, for wealth management products that do not bear investment risks and receive fixed profits, that is, the so-called wealth management products that guarantee the principal and interest of Baocha, shall be regarded as a loan, and the fixed profits collected shall be subject to business tax in accordance with the "financial and insurance industry"; 2. For wealth management products that do not bear investment risks and obtain unfixed floating income with capital preservation, that is, the so-called floating income wealth management products with capital preservation, the floating income with unfixed capital preservation shall be regarded as deposit interest income and shall not be subject to business tax; 3. For taking investment risks, obtain unfixed floating returns.

Principal-protected financial income needs to be taxed.

The notice of the Ministry of Finance and the State Administration of Taxation on clarifying the value-added tax policies for finance, real estate development, education, auxiliary services, etc. (Cai Shui 2016 No. 140) stipulates that the term "capital guaranteed income, remuneration, capital occupation fee and compensation" in point 1 of Article 1, Paragraph 5 of the Annotation on Sales Services, Intangible Assets and Immovable Property (CS 2016 No. 36) refers to the investment income that is clearly promised in the contract that the principal can be fully recovered at maturity. The above-mentioned income obtained during the holding period (including maturity) of financial products that is not guaranteed principal is not interest or interest-based differential income, and is not subject to the increase in modulus value.

2.According to the above provisions, the income of the company from the bank to purchase wealth management products, if it is a capital guaranteed investment income, shall pay VAT according to the regulations; If it is a non-principal-protected investment income, no VAT will be levied.

The income from bank wealth management products shall be included in the accounting of investment income accounts, and shall be included in the total profit and shall be calculated and paid for enterprise income tax.

The accounting treatment of the income of bank wealth management products is: borrow: bank deposits and other accounts, and credit: investment income.

From this entry, it can be seen that the income of bank wealth management products needs to pay the enterprise income tax of the first mu.

If the income of the bank's short-term wealth management reaches the tax threshold, it needs to pay taxes, such as personal income tax. However, after calculating the financial income of the parties, the bank will withhold the individual income tax on behalf of the parties. The specific tax payment method depends on the specific regulations of each bank.

Article 2 of the Individual Income Tax Law of the People's Republic of China shall pay individual income tax for all personal income listed in the chain: (1) Income from wages and salaries; (2) Income from remuneration for labor services; (3) Income from author's remuneration; (4) Income from royalties; (5) Business income; (6) Income from interest, dividends and bonuses; (7) Disturbing the income from the lease of pure property; (8) Income from the transfer of property; (9) Incidental gains. Article 3 of the Individual Income Tax Law of the People's Republic of China The tax rate of individual income tax:

1) For comprehensive income, a progressive tax rate of 3% to 45% is applicable; (2) For business income, an excess progressive tax rate of 5% to 35% shall be applied; (3) Income from interest, dividends, bonuses, income from property lease, income from property transfer and incidental income shall be subject to a proportional tax rate of 20%.

According to the notice of the Ministry of Finance and the State Administration of Taxation on comprehensively promoting the pilot project of replacing business tax with value-added tax (CS 2016 No. 36), Article 1 Units and individuals that sell services, intangible assets or immovable property (hereinafter referred to as taxable behaviors) within the territory of the People's Republic of China (hereinafter referred to as "the territory") are VAT taxpayers and shall pay VAT in accordance with these measures and shall not pay business tax. ......Article 9 The specific scope of taxable activities shall be implemented in accordance with the "Notes on Sales of Services, Intangible Assets and Immovable Property" attached to these Measures.

Attached: sales services, intangible assets, real estate. Notes:

1. Sales services (5) Financial services. Financial services refer to the business activities of financial insurance. This includes loan services, direct-to-charge financial services, insurance services, and transfer of financial products.

Loan servicing. Loan refers to the business activity of lending funds to others to obtain interest income. The income obtained from various occupation and borrowing funds, including the income from interest (principal guaranteed income, remuneration, capital occupation fee, compensation, etc.) during the holding period (including maturity) of financial products, interest income from credit card overdraft, interest income from resale of financial products, interest income from margin financing and securities lending, as well as interest and interest income obtained from financing sale and leaseback, bills, penalty interest, bill discounting, re-lending and other businesses, shall be subject to VAT in accordance with loan services.

According to Article 1 of the Notice on Clarifying the VAT Policies for Finance, Real Estate Development and Educational Auxiliary Services (CS 2016 No. 140), the term "capital guaranteed income, remuneration, capital occupation fee and compensation" in Article 1, Paragraph 5, Item 1 of the Annotation on Sales of Services, Intangible Assets and Immovable Property (Cai Shui 2016 No. 36) refers to the investment income that is clearly promised in the contract that the principal can be fully recovered. The above-mentioned income obtained during the holding period (including maturity) of financial products is not interest or interest income, and is not subject to VAT.

Therefore, discussed on a case-by-case basis, the income from interest (principal guaranteed income, remuneration, capital occupation fee, compensation, etc.) during the holding period (including maturity) of the purchase of financial products by enterprises shall be subject to VAT according to the loan services; The above-mentioned income obtained during the holding period (including maturity) of financial products is not interest or interest income, and is not subject to VAT.

Interest income is taxable. Interest income is also part of normal income and is included in the overall income. In practice, the interest income from bank deposit lead lease is included in the financial expenses, which affects the total profit and needs to pay income tax.

The interest income of treasury bonds is exempt from corporate income tax, and the interest income between non-financial institutions and non-financial institutions and the interest income of banks are subject to corporate income tax.

Article 6 of the Enterprise Income Tax Law of the People's Republic of China is the total income obtained by an enterprise in monetary and non-monetary forms from various types of income. Including: (1) income from the sale of goods; 2) Provision of income from labor services; 3) Income from the transfer of property; 4) Dividends, bonuses and other equity investment income; (5) Interest income; 6) Rental income; 7) royalty income; 8) Receiving income from donations; 9) Other income.

Article 2 of the Individual Income Tax Law of the People's Republic of China The following individual income shall be subject to individual income tax: (1) Income from wages and salaries; (2) Income from remuneration for labor services; (3) Income from author's remuneration; (4) Income from royalties; (5) Business income; (6) Income from interest, dividends and bonuses; (7) Income from property lease; (8) Income from the transfer of property; (9) Incidental gains. If a resident individual obtains the income from items 1 to 4 of the preceding paragraph (hereinafter referred to as "comprehensive income"), the individual income tax shall be calculated on a consolidated basis according to the precursor of the tax year; For non-resident individuals who obtain the income in items 1 to 4 of the preceding paragraph, the individual income tax shall be calculated on a monthly or sub-itemized basis.

Taxpayers who obtain the income from items 5 to 9 of the preceding paragraph shall calculate individual income tax separately in accordance with the provisions of this Law.

Buying wealth management products in the bank is very similar to buying in **, they are all choosing to return good products**, selling them after a period of time, they are not principal-guaranteed, and you can make money by buying well, that is, income, when it comes to income, it will inevitably involve individual income tax.

Do I have to pay taxes when I buy bank wealth management products?

No, individuals do not need to pay individual income tax on the income obtained from purchasing wealth management products at the bank. Although there is no clear provision on whether individual income tax should be levied on the income obtained from the purchase of bank wealth management products. However, in reality, when individuals purchase bank wealth management products (including principal-guaranteed and non-principal-protected), they are not subject to tax deduction when distributing wealth management income.

In fact, not only do you not need to pay individual income tax when you buy bank wealth management products, but you also don't need to pay individual income tax on the money you get from buying ** and **, but it is just that the personal income tax involved through ** dividends.

Article 48 of the Individual Income Tax Law stipulates that the income from interest, dividends and bonuses obtained by an individual from owning debts and equity shall be taxable income based on the amount of each income, and the proportional tax rate shall be 20%. Therefore, the scope of personal taxability includes interest, dividends, bonuses.

Bank wealth management products refer to the financial investment and wealth management products invested by commercial banks in accordance with the established investment strategy, in accordance with the established investment strategy.

When purchasing bank wealth management products, you need to pay a handling fee, which usually includes: custody fee, sales fee, management fee, etc., and the handling fee of different wealth management products is different, depending on the product manual. The prospectus of wealth management products also includes the annual expected rate of return, establishment expiration date, risk level, etc., which are very important information.