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The announcement of the State Administration of Taxation and the Ministry of Finance on matters related to the postponement of the payment of some taxes and fees in the fourth quarter of 2021 by small, medium and micro enterprises in the manufacturing industry (Announcement No. 30 [2021] of the State Administration of Taxation) clarifies that from November 1, 2021, the payment of some taxes and fees in the fourth quarter of 2021 will be deferred by small, medium and micro enterprises in the manufacturing industry. So, does the tax deferral policy affect the taxpayer's handling of the final income tax settlement? Can small and micro enterprises in the manufacturing industry apply for deferred tax payment in accordance with the law?

2 examples to answer your questions

If a taxpayer meets the conditions stipulated in the Announcement and chooses to apply the tax deferral policy, the deferred tax shall be regarded as "prepaid tax" and shall normally participate in the calculation of the final settlement and refund of income tax. At the same time, taxpayers shall pay the deferred tax in accordance with the tax payment period determined by the deferred payment policy.

For example, taxpayer K is a manufacturing individual industrial and commercial household with annual sales of 1 million yuan, which implements audit collection and quarterly declaration of individual income tax on business income, and chooses to postpone all the individual income tax that should be prepaid in the fourth quarter of 2021 to the April declaration period during the declaration period in January 2022. If taxpayer K needs to apply for the 2021 business income final settlement and tax refund before March 31, 2022 due to supplementary special additional deductions and other reasons, the taxpayer can handle the tax refund normally, and it will not be affected by the taxpayer's policy of deferring the payment of taxes in the fourth quarter of 2021.

At the same time, the taxpayer shall pay the tax entitled to the deferred payment policy within the April filing period.

2. Can small and micro enterprises in the manufacturing industry specified in the "Tongheng Old Announcement" apply for deferred tax payment in accordance with the law?

Small, medium and micro enterprises in the manufacturing industry specified in the announcement can still apply for deferred tax payment in accordance with the provisions of the Tax Administration Law and its implementation rules.

For example, taxpayer J is a manufacturing enterprise with annual sales of 30 million yuan and pays it on a monthly basis, and its declaration period in November 2021 needs to declare and pay a total of 500,000 yuan of enterprise income tax and other taxes in October, but its current currency funds are only 10,000 yuan after deducting the wages payable to employees and social insurance premiums. Taxpayer J may, in accordance with the provisions of the Tax Administration Law and its implementation rules, apply for an extension of tax payment for all the taxes payable by it, without being subject to the restrictions stipulated in the Announcement.

Policy Basis:

1.Announcement of the State Administration of Taxation and the Ministry of Finance on Matters Concerning the Deferred Payment of Certain Taxes and Fees for Small and Medium-sized Enterprises in the Manufacturing Industry in the Fourth Quarter of 2021 (Announcement No. 30 [2021] of the State Administration of Taxation).

2.Interpretation of the Announcement of the State Administration of Taxation and the Ministry of Finance on Matters Concerning the Deferred Payment of Some Taxes and Fees in the Fourth Quarter of 2021 by Small, Medium and Micro Enterprises in the Manufacturing Industry.