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[Visitor (111.8.*.*)]answers [Chinese ]Time :2020-05-26
Calculation of taxes

(1) Calculation of business tax

1. The applicable tax rate for the construction industry business tax is 3%, and the service industry business tax rate is 5%.

Tax payable a = total contract amount × applicable tax rate

2. Business tax surcharge: urban construction and maintenance fee 7%, education surcharge 3%, local education surcharge 1%, flood control security fee 0.1%, stamp duty 0.05% The tax standards for the first three additional taxes are the same, namely:

Additional tax = tax payable a × 11%;

Flood control security fee = total contract amount × 0.1%;

Stamp duty = total contract amount x 0.05%

The main tax and the additional tax can be calculated together:

Business tax and surcharge for Jian'an project = total project amount × 3.48%;

Service item business tax and surcharge = total item amount × 5.7%

(2) Calculation of VAT
1. The value-added tax rate is 17%. Take the simple equipment purchase project as an example. First, the total amount of the project is the tax-included amount, which must be converted into the tax-free amount:

Tax-free project amount a = total project amount / 1.17;

Value-added tax payable b = a × 17%;

Deductible tax amount c = purchase cost of tax-free equipment × 17%;

Actual VAT paid = b-c

2. VAT surcharge. It is the same as the business tax surcharge. Therefore, the main tax and additional tax for the sale of goods are calculated as:

VAT payable and additional = (a-tax-free equipment purchase cost) × 18.92%

(3) Corporate income tax

If our company's corporate income tax rate is 15%: corporate income tax payable = (project gross profit-overhead-business tax) × 15%

Calculation of financial expenses

Includes two types of fees:
1. Financial expenses incurred from occupation of own liquidity

Financial expenses = (total payment contract × 0.72%) / 360 × date of occupied funds

2. Financial expenses incurred by occupying loan funds

Financial expenses = (total payment contract × 6.12%) / 360 × date of occupied funds

Note: 6.12% is the one-year bank loan interest rate; the date of occupied funds = the date of recovered funds-the date of payment; the higher the total payment contract, the longer the project fund recovery period, the greater the financial costs.

Project net profit = project gross profit-indirect expenses-[[business tax payable]] and surcharges-VAT and surcharges payable-corporate income tax payable-financial expenses payable

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