3 may is the first full-scale start of the battalion build-up day
The beijing morning news (jan zheng) was the first day of a nationwide roll-out of the camp retrenchment on 3 may, and the peak of the second-hand house billing period after the break. Beijing morning reporters have learned from several regions of my city that the tax on second-hand house transactions has declined to varying degrees after the “camp increase”。
On 3 may, at 8. 50 a. M., in the lobby served by the second tax office of the seady district, the taxpayers who came to deal with the stock exchange were overwhelmed. In the stockhouse trade window, a taxpayer is submitting information and asking about tax changes. Taxpayers laughed with satisfaction when staff informed that the transaction had resulted in a cumulative reduction of $12,000 in taxes before the battalion was converted。
In the early morning hours of the day, the third tax collector of the housing and land tax administration also lined up. Over the past year, the institute's average daily processing capacity was less than 30, while three days before 11 a. M., it had already received more than 40. “the volume of processing on that day is more than twice the average number of transactions made last year, and more than 100 consultations, more than three times the average number of consultations.” zidani, deputy director of the third tax institute of the department of land, land and taxes, told beijing morning reporter。
According to the second tax institute of the land tax administration of the seadon district, as at 18 may, 138 second-hand house transactions had been processed, 138 vat tickets had been issued, the cumulative value of stock stock transactions had been nearly $300 million, vat payments had been $5. 82 million, and taxes had been reduced by $0. 3 million before the increase in the number of battalions. On 3 days, the eastern region land tax office conducted 25 second-hand house tax operations, collecting $2. 84 million, which represents an overall reduction of $16,000 in the buyer's and seller's tax burden compared to the increase in the camp. According to the fourth tax institute of the local tax administration of the hong kong district, there were 13 tax collections on 3 days, bringing the total amount of tax payable by both parties before the battalion increase to $6,438 million; after the battalion increase, both parties paid $6,235,000, resulting in an overall reduction of $20. 3 million。
Although three days were the first working day after a five-and-a-half-long leave, in order to ensure the smooth implementation of the camp upgrade, our municipal tax authorities conducted multiple rounds of testing of the information system using the “five ones” holiday, and on 1 may officially conducted a city-wide tax test exercise on the “bamp up” stock exchange. Journalists learned that on that day, 85 individual stock houses were taxed, including a vendor tax of $354. 86 million and a buyer tax of $283. 69 million, a decrease of $12. 25 million and $3. 78 million, respectively, compared with the increase in the camp. The overall tax burden fell by 2. 45 per cent and the average single business tax fell by $1885. 88。
Deal
Selling $2. 65 million of the house under $8,000 tax
In the case of mr. Ban, who conducted the second-hand house trade on the first day of the “retrofit” in changping district, mr. Ban was required to pay the full transit tax (both turnover tax and value added tax) for the house sold at a contract price of $2. 65 million, which is not the sole home for the family; the buyer, ms. Choi, was the first home for the family。
Mr. Pan, seller
Payable turnover tax:
265000 x 5% = $132,500
Mr. Pan, seller
Vat payable:
265000/ (1+5%) x 5% = $126190. 48
The flow tax dropped by $6309. 52
At the same time, mr. Ban's other taxes and charges were reduced by $189,286 as a result of the decline in the basis of taxation。
As a result, the increase in the battalion was reduced by $8202. 38
Ms. Choi, buyer
Taxes paid were reduced by $1892. 86 due to a lower tax basis
Link
With the increase in the battalion, the annual tax cut in beijing was 42,022 million
Since 1 may 2016, the vat pilot has been rolled out across the country, with all vat taxpayers in construction, real estate, financial insurance and life services. In the case of beijing, 339,000 taxpayers will be involved, with an initial assessment of an additional 42,022 million yuan annually。
In the four sectors of the pilot, the financial insurance industry had a previous turnover tax rate of 5 per cent, the value added tax rate of 6 per cent following the pilot reform had been raised by 1 percentage point; the construction industry had a 3 per cent turnover tax and the value added tax rate of 11 per cent following the pilot reform, but the taxpayer had been allowed to continue to opt for a 3 per cent simple tax for the construction-in-progress project. The previous turnover tax rate for the real estate industry was 5 per cent and the value added tax rate following the pilot reforms was 11 per cent. The former turnover tax rate for services is 3 per cent, 5 per cent, 10 per cent and 20 per cent, more than 5 per cent, and the post-pilot vat rate is 6 per cent, although small taxpayers with an annual income of less than $5 million apply a 3 per cent simple tax directly。
While there appears to be an increase in tax rates, vat, unlike turnover tax, can be offset by the amount of revenue tax, and therefore the tax burden is reduced to varying degrees over the long term for all sectors。
