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Corporate Finance Staff Learn New Tax Policy

Release time:

2020-08-14

Company Financial Staff Learn New Tax Policies

News # July 2 , the Finance Department of the Group Company organized a meeting of financial staff of subordinate enterprises to exchange recent financial work and to study and discuss newly introduced or soon-to-be-implemented tax policies such as simplified value-added tax.

The meeting was presided over by Wu Defu, manager of the finance department of the group company. The financial personnel of each unit had a comprehensive exchange on the problems existing in the financial and tax work of the unit and the matters to be communicated. They also studied the latest simplified value-added tax policy and the announcement of the State Administration of Taxation on issues related to the issuance of value-added tax invoices.

The Ministry of Finance and the State Administration of Taxation issued a notice on 4 July 28 . Starting from 2017 7 1 , the VAT rate structure will be simplified, the VAT rate of 13% will be canceled, and the VAT rate of the original 13% will be simplified to 11% . 5 March 19 , in order to further strengthen the management of value-added tax invoices, ensure the smooth implementation of the pilot project of changing business tax to value-added tax, protect the legitimate rights and interests of taxpayers, and create a healthy and fair tax environment, the State Administration of Taxation made clear the issues related to the issuance of value-added tax invoices by Announcement No. 16 of 2017 . The announcement clearly stated that the ordinary invoice did not fill in the taxpayer identification number of the purchaser and could not be deducted before tax, and the contents of the VAT invoice issued by the seller should be truthfully issued in accordance with the actual sales situation. It was called the "strictest invoice order" by the people ". The implementation of these new tax policies is bound to have an impact on corporate finance and taxation. Lan Xiaolong, financial director of

group company, stressed at the meeting that strengthening the audit of substantive elements related to enterprise expenditure is an important part of the enterprise's continuous improvement of its internal control system. at the same time, it is also an important basis for the enterprise income tax law to judge whether pre-tax deduction is allowed, and it is an important condition to prove whether the enterprise expenditure is related to the enterprise's income and whether it is reasonable. He analyzed the current internal and external economic environment of the enterprise, and required the company's financial personnel to strengthen the study of relevant policies and timely grasp the relevant trends; constantly learn management accounting knowledge, combined with the current development trend of cloud computing and big data, strive to improve their business level, so as to better solve the problems in the process of financial management, better cope with the new changes in financial management, and meet the high-level requirements for financial personnel in the new period.

Financial personnel of overseas enterprises such as Daye Peak and Yunnan Peak participated in the study through the teleconference system. (Li Xia Zhou Huijuan)

More information

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