| [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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