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Pharmaceutical companies to promote tax reform and adjustment work

Release time:

2020-07-22

Pharmaceutical Company Pushing Forward Tax Reform Adjustment Work

News Recently, Jinhua Pharmaceutical Company made corresponding adjustments to various aspects of work in accordance with the relevant policies of value-added tax reform and combined with the actual situation of the enterprise. In response to the value-added tax reform.

The Ministry of Finance, the Tax Bureau and the General Administration of Customs issued the Announcement on Deepening the Relevant Policies of VAT Reform, which was implemented on 2019 4 March . The tax reform promoted the substantial reduction of VAT and lowered the VAT rate; expanded the scope of deductible input tax and reduced the level of negative tax for taxpayers; and piloted the VAT end-of-period retention tax refund system on the basis of the implementation of a one-time retention tax refund in some industries in 2018 .

Combined with the actual impact of the VAT reform, the pharmaceutical company modified the business system to apply the tax rate and upgraded the supporting invoicing system software. In order to smoothly push forward the tax rate adjustment, the finance department, purchasing department, sales department, billing room, storage department and other relevant departments have made good cooperation among various departments, and strengthened communication with customers externally. all previous businesses were issued before the end of 3 , and drugs delivered on the last day of 3 were issued on the same day to avoid unnecessary losses. (Teng Tiantian)

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