What are the inputs of financial and insurance services?

If your business has both life services and financial and insurance services, then the input tax of this conference fee can be deducted.

The "Notes on Sales of Services, Intangible Assets, and Immovable Property" attached to Annex 1 of the Notice of the Ministry of Finance and the State Administration of Taxation on Comprehensively Promoting the Pilot Program of Replacing Business Tax with Value-Added Tax (CS 2016 No. 36) "Implementation Measures for the Pilot Program of Replacing Business Tax with Value-Added Tax" stipulates:

Financial services refer to the business activities of financial insurance.

It mainly includes the following four aspects:

1) Loan services.

2) Direct Charge Financial Services.

3) Insurance services.

4) Transfer of financial instruments.

1.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 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, on-lending, etc., shall be subject to VAT according to loan services.

Financing sale and leaseback refers to the business activities in which the enterprise engaged in the financing sale and leaseback business leases the asset to the lessee after the lessee gives the asset to the enterprise engaged in the financing sale and leaseback business for the purpose of financing.

The fixed profit or guaranteed profit received from the investment of monetary funds shall be subject to VAT in accordance with the loan service.

2.Direct Charge Financial Services.

Direct fee financial services refer to business activities that provide related services for monetary financing and other financial businesses and collect fees. Including the provision of currency exchange, account management, e-banking, credit cards, letters of credit, financial guarantees, asset management, trust management, ** management, financial trading venue (platform) management, fund settlement, fund clearing, financial payment and other services.

3.Insurance services.

Insurance service refers to the commercial insurance behavior in which the policyholder pays the insurance premium to the insurer in accordance with the contract, and the insurer bears the responsibility of compensating for the property loss caused by the occurrence of an accident that may occur as agreed in the contract, or assumes the responsibility of paying the insurance money when the insured dies, is disabled, sick, or reaches the age and time limit agreed in the contract. Including life insurance services and property insurance services.

Life insurance services refer to insurance business activities that take a person's life and body as the subject matter of insurance.

Property insurance services refer to insurance business activities with property and its related interests as the subject matter of insurance.

4.Transfer of financial instruments.

The transfer of financial instruments refers to the business activities of transferring the ownership of foreign exchange, valuable**, non-goods** and other financial commodities.

The transfer of other financial products includes the transfer of various asset management products such as trusts, wealth management products and various financial derivatives. Please refer to it.

Hello, financial services, refers to the business activities of operating finance and insurance. The company is required to pay VAT on time in accordance with the regulations.

1. So far, the entire financial industry has not been included in the scope of replacing business tax with value-added tax, that is, most of the business is still subject to business tax, including loans, transfer of financial products (such as ** transfer, bond transfer, foreign exchange transfer, transfer of other financial products), financial brokerage (such as entrusted business, ** business, consulting business) and other financial business (such as bank settlement).

2. Only the business involving the bank's buying and selling of gold and silver, in accordance with the provisions of the tax law, is subject to VAT, for this business, if it is a general VAT taxpayer, if a special VAT invoice is obtained when buying gold and silver, the input tax can be deducted with the ticket.

According to the notice of the Ministry of Finance and the State Administration of Taxation on issues related to the adjustment of the consumption tax on gold and silver jewelry ((1994) Cai Shui Zi No. 95), the provisions are:

With the approval of ***, the consumption tax on gold and silver jewelry has been changed from the production and sales link to the retail link. The relevant provisions are hereby notified as follows:

The scope of gold and silver jewellery subject to consumption tax at the retail level has been changed.

The scope of gold and silver jewellery subject to consumption tax at the retail level is limited to: gold, silver and gold-based and silver-based alloy jewellery, as well as gold, silver and gold-based and silver-based alloy inlaid jewellery (hereinafter referred to as gold and silver jewellery).

Jewelry that does not fall within the above scope and is subject to consumption tax (hereinafter referred to as non-gold and silver jewelry) is still subject to consumption tax in the production and sales process. ”

1. For the physical transaction business engaged in by financial institutions, the provincial-level branches and sub-branches of the financial institutions shall pay value-added tax in advance according to the prescribed pre-levy rate, and the provincial-level branches and first-level branches directly under the financial institutions shall be uniformly liquidated and paid.

1) The branch offices and savings offices that have the occurrence of physical ** transactions shall calculate the number and amount of physical goods sold on a monthly basis and report to their superior branches.

2) All branches, branches and savings offices shall apply to the competent State Taxation Bureau for tax registration in accordance with the law. Each sub-branch shall summarize the sales in kind ** and the ** sales in kind of the sub-branch and the ** sales in kind of the sub-branch on a monthly basis, calculate the VAT pre-levy amount according to the prescribed pre-levy rate, and declare and pay VAT to the in-charge tax authorities.

Withholding tax amount = sales amount Pre-levy rate.

3) All provincial-level branches and first-level branches directly under the institution shall apply to the competent State Taxation Bureau for tax registration and apply for recognition of the qualification of general VAT taxpayers. Summarize the sales amount and input tax in kind reported by the branch or sub-branch of the prefecture or city on a monthly basis, calculate the VAT payable according to the general taxpayer method, calculate the tax payable according to the pre-levied tax amount, and declare and pay it to the competent tax authorities.

Tax payable = output tax - input tax.

Tax payable = tax payable - pre-tax amount.

If the input tax amount of the current period is greater than the output tax amount, the retained tax credit shall be carried forward to the next period for deduction, and if the pre-tax amount is greater than the tax payable, it shall be deducted from the VAT payable of the next period.

4) The input tax obtained by financial institutions at all levels engaged in physical goods trading business shall be divided into non-deductible input tax in accordance with the current provisions and processed as input tax transfer.

5) The pre-levy rate shall be determined by the provincial State Taxation Bureau where each provincial branch and the first-level branch directly under it are located.

The applicable VAT rate for the financial and insurance industry is 6%. The applicable tax rate for general taxpayers is 6%; The applicable tax rate for small-scale taxpayers is 3%.

The VAT rate of general taxpayers in the financial and insurance industry is 6%, and the input VAT of the special VAT invoices issued can be deducted from the output tax, while the small-scale taxpayers pay VAT according to the levy rate of 3%, and the input VAT of the ordinary VAT invoices issued cannot be deducted from the output tax.

The financial and insurance industry mainly includes:

Loan servicing. Loan services include interest income from occupying and borrowing funds, including interest income from interest (principal guaranteed income, remuneration, capital occupation fee, compensation) during the holding period (including maturity) of financial products, interest income from credit card overdrafts, interest income from resale of financial products, interest income from margin financing and securities lending, interest from financing sale and leaseback, bills, penalty interest, bill discounting, relending and other businesses.

Direct Charge Financial Services.

It refers to the business activities that provide related services for monetary financing and other financial services and collect fees. Including the provision of currency exchange, account management, e-banking, credit card, financial guarantee, asset management, trust management, ** management, financial trading venue (platform) management, fund settlement, fund clearing, financial payment and other services.

Insurance services. Insurance service refers to the commercial insurance behavior in which the policyholder pays the insurance premium to the insurer in accordance with the contract, and the insurer bears the responsibility of compensating for the property loss caused by the occurrence of an accident that may occur as agreed in the contract, or assumes the responsibility of paying the insurance money when the insured dies, is disabled, sick, or reaches the age and time limit agreed in the contract. Including life insurance services and property insurance services.

Transfer of financial instruments.

Refers to the business activity of transferring ownership of foreign exchange, non-goods** and other financial instruments. Other financial products refer to the transfer of various asset management products and various financial derivatives, including **, trusts, wealth management products, etc.

Shenyang** - Notice on Comprehensively Promoting the Pilot Project of Replacing Business Tax with Value-Added Tax.

For the value-added tax of the financial and insurance industry, the applicable tax rate for general taxpayers is 6%; The applicable tax rate for small-scale taxpayers is 3%.

There are life insurance, property insurance, trusts, **, etc.

The financial services that insurance companies can provide can only be insurance, but insurance is divided into categories.

If it's just protection, there are health insurance and property insurance. The coverage of these types of insurance is short-term.

If you still want to make income, life insurance, commercial pension insurance, annuity, and investment-linked insurance are likely to obtain a certain amount of dividend income.

In addition, if you buy the ** of a listed insurance company, you can also get financial services such as ** and **.

"Financial services include the following types of institutions: insurance and related services, banking and other financial services (other than insurance). Financial services refer to the financial industry that plays a variety of functions to promote economic and social development.

Financial services refer to the activities in which financial institutions use monetary transactions to finance valuable goods and provide mutual benefits and satisfaction to participants in financial activities and customers. ”

The VAT rate for financial services is 6%.

Financial Services: 1) Loan Services.

The income obtained from various occupation and borrowing funds, as well as the interest obtained from financing sales and leasebacks, penalty interest, bill discounting, on-lending and other businesses.

Special: 1Fixed profit or guaranteed profit received from the investment of monetary funds - interest point of view 2No VAT is levied on non-guaranteed income obtained during the holding period of financial products - investment income perspective (2) direct charge financial services.

Including the provision of credit card, ** management, financial transaction venue management, fund settlement, fund clearing and other (3) insurance services.

Including life insurance services and property insurance services.

4) Transfer of financial instruments.

Business activities that include the transfer of ownership of foreign exchange, valuable**, non-goods** and other financial instruments to master financial services, please click below.

Financial services loan services include:

Financial services within the scope of VAT taxation refer to:

Direct charge financial services include:

(1) For the provision of financial services to individual consumers, special VAT invoices shall not be issued; (2) Special VAT invoices shall not be issued for the transfer of financial products; (3) Special VAT invoices shall not be issued for financial services projects exempt from VAT.