In the context of "replacing business tax with value-added tax" tax reform, the future belongs to enterprises with profit margins and good tax processing ability!
China\'s tax reform of "replacing business tax with value-added tax", while replacing the service industry that originally levied business tax with value-added tax, has also made major institutional changes to the current VAT system in five aspects: expanding the scope of taxation, improving the tax base, adjusting the tax rate structure, attaching importance to the definition of levy and changing the management mode, so that the VAT system not only ADAPTS to the development of industry and commerce, but also ADAPTS to the development of industry and commerce. At the same time adapt to the development of the service industry.
The industries targeted by "replacing business tax with value-added tax" mainly belong to intermediate industries that provide productive services for downstream production enterprises, such as transportation, postal services, research and development and technical services, information technology services, cultural and creative services, logistics support services, tangible movable property leasing services, authentication consulting services, radio, film and television services, and telecommunications services. The tax reform of "replacing business tax with value-added tax" in the above industries can eliminate the double taxation between producer services and production enterprises, and reduce the tax burden of enterprises on the whole.
For the pharmaceutical industry, it can start from the following three aspects to obtain the good news of "replacing business tax with value-added tax".
1. VAT on intangible assets such as patents and trademarks;
In the "Research and development and technical services" of the pilot project of "replacing business tax with value-added tax", technology transfer services refer to business activities that transfer the ownership or use right of patented or non-patented technology; In "cultural and creative services", trademark and copyright transfer services refer to the business activities of transferring trademarks, goodwill and copyright; Intangible assets refer to identifiable non-monetary assets without physical form owned or controlled by an enterprise. Intangible assets usually include patents, non-patented technologies, trademarks, Copyrights, goodwill, concessions, land use rights, etc. This indicates that the intangible assets project "patent", "non-patented technology", "trademark", "goodwill" and "copyright" will be changed to pay VAT.
In the policy of "replacing business tax with value-added tax", "research and development and technical services" and "cultural and creative services" apply a low tax rate of 6%, of which enterprises with an annual tax liability of less than 5 million yuan can apply for a low tax rate of 3% (previously 5%). Therefore, when the turnover of taxable services is smaller, the tax payable is less and the actual tax paid is less. Since the intellectual property service industry is mostly small and micro enterprises, after the tax rate is reduced, the tax burden is smaller and productivity is increased. For intellectual property service institutions of medium and above scale, the tax burden pressure mainly comes from human and financial costs, which will promote the business model of such intellectual property service institutions to become large and comprehensive, and contract the intellectual property business of enterprises in the form of annual fee services, and some large projects are decomposed and outsourced to micro and small enterprises.
It is worth noting that the relevant taxable services provided by domestic units and individuals to provide research and development services and design services to overseas units are exempt from VAT. This means that the agency fee charged by an overseas enterprise to handle intellectual property affairs such as patent application or trademark registration in China can be tax-free. In reality, since the fees charged for the intellectual property affairs of overseas applicants are higher than those in China, the vast majority of the few high-quality intellectual property service resources in China have already been obtained by overseas right holders. This special tax policy will further promote more high-quality intellectual property service resources to overseas enterprises or individuals\' intellectual property affairs, and the high-quality resources available to domestic enterprises or individuals will be further compressed.
Advertising and publicity costs are one of the largest period expenses of OTC pharmaceutical companies, and cultural and creative services are included in the category of "replacing business tax with value-added tax", so that enterprises can invest more advertising costs to obtain more operational advantages and brand advantages. In the case that it is difficult to make great progress in R & D and innovation in the short term, TCM OTC can reasonably increase the investment in advertising according to the latest advertising law, so that enterprises can obtain spillover benefits for a longer time.
2. Tax planning in compliance;
Under the background of "replacing business tax with value-added tax", it is the most effective way for enterprises to reduce costs by effectively avoiding or reducing tax burdens in various economic activities in a reasonable and legal way.
As an important part of enterprise financial management, tax planning plays an obvious role in cost saving. At present, due to subjective cognition, financial management laws and regulations, human resources and other reasons, the tax planning ability of Chinese pharmaceutical enterprises is limited. The economic strength of small and medium-sized enterprises in the pharmaceutical industry is not good, and they are more inclined to reduce costs from the tax side to ensure the sustainable development of their operations.
Tax is not generated in the field of accounting, but in tax-related business processes. Different tax-related business processes determine the nature and flow of tax payment. For taxpayers, the process can be changed, and both subjective and objective factors can change the tax-related business process. Therefore, after "replacing business tax with value-added tax", enterprises should combine business process with current tax policies and corresponding tax planning schemes, change tax through business process reengineering when necessary, and design tax planning schemes with creative thinking, so as to reduce tax burden.
The division of labor in the pharmaceutical industry is becoming increasingly sophisticated, and the operation mode of small and medium-sized enterprises needs to be connected with multiple suppliers. In the purchase of raw materials or semi-finished products, in the transport of goods, often mixed with VAT burden. These links are the use of tax planning, tax planning can make the procurement link more reasonable, more effective, without affecting the normal operation of the enterprise and the quality of procurement under the premise of reasonable planning, so that the cost concept throughout the economic activities of enterprises.
It is worth noting that many tax-related businesses are reflected in the form of contracts, and how contracts are signed will directly affect the tax results. Therefore, after "replacing business tax with value-added tax", taxpayers should consider and standardize the contract terms in accordance with the latest tax policies when signing economic contracts, such as indicating whether the contract price is tax inclusive. Through the standardization of contracts, the establishment of business processes conducive to their own tax benefits and the unified arrangement of tax payment according to the signed contracts will be conducive to the realization of tax planning goals.
With the improvement of the relevant supporting regulations of chemical drugs "5.2 class", more and more enterprises will introduce foreign products. The marketing behavior of import and export will inevitably produce input tax, which can be effectively avoided by tax planning under the policy of replacing business tax with value-added tax. Enterprises can outsource their own labor services, such as product promotion outsourcing and registration outsourcing, and deduct part of the input tax through the outsourcing mode, so as to minimize the tax burden.
Under the dual pressure of the two-vote system and the replacement of business tax with VAT, prescription drug companies with high "conference fees" may choose more conference outsourcing services for academic marketing from the perspective of cost and tax receipt security. Such meetings will be more compliant, especially focusing on the content and effect of the meeting, and can reduce the labor cost of prescription drug companies.
In addition, the CFDA has recently urged circulation companies to self-check their affiliations and tickets, which means that a large number of marketers face tax problems such as labor fees and welfare fees. Labor fees and taxes can not be used as tax credits, which means that individual non-standard enterprises face a sharp rise in labor costs pressure. Under the dual pressure of falling product prices and rising labor costs, enterprises must find other ways to improve and reduce labor costs. Data analysis and marketing activities may be one direction: Manage a wide range of large-scale, multi-frequency and cross-channel campaigns through the Internet and software, manage customer marketing records and customer groupings to meet the increasingly refined customer groups and their individual needs.
3. Business restructuring and planning;
Enterprise merger, division and liquidation are the three major ways of enterprise reorganization, and enterprise reorganization is a part of enterprise strategic management, which will not only affect the production and operation of enterprises, but also affect the tax burden of enterprises. Therefore, after "replacing business tax with value-added tax", enterprises should fully consider the tax burden in the process of restructuring.
In addition, enterprises can also carry out enterprise reorganization in order to reduce tax burden without affecting production and operation, which is the concept of enterprise reorganization designed by tax planning plan. However, the issue of tax burden is only one of the factors to consider, if the increase in operating costs after separation is higher than the reduction of tax burden, the enterprise will not be worth the loss.
Enterprises can achieve the purpose of tax reduction by splitting and reorganizing the whole business involving differentiated tax rates. Due to the significant increase in the deductible ratio of transportation costs, especially the logistics auxiliary service industry has also been included in the "business tax to VAT" project, and the cost of transportation costs of enterprises has been greatly reduced, so some enterprises with large transportation volumes can divest all assets, capital, technology, personnel and management under transportation logistics and set up a subsidiary, and all transportation businesses are borne by the subsidiary. However, due to the particularity of the pharmaceutical industry, the "two-ticket system" is more suitable for distribution to the pharmaceutical business, so more companies may choose to give up their own transportation.
In addition, after "replacing business tax with value-added tax", the state\'s preferential tax policies provide many options for high-tech and other enterprises with different qualifications when designing tax planning schemes, especially making full use of the introduction policies of some high-tech zones and free trade zones. Before the occurrence of tax-related business, small and medium-sized enterprises should grasp these opportunities, make full use of various preferential policies through enterprise division, merger and other ways, and design tax plans accordingly to ensure the realization of tax planning objectives. Different tax plan choices will produce different tax results, seize the favorable opportunity means to find a good tax planning path.
Summary:
The pharmaceutical industry can offset the VAT input less, which will greatly increase the risk of the pharmaceutical business system. After "replacing business tax with value-added tax", the internal tax management of pharmaceutical enterprises will become the key point affecting the development of enterprises. Under the promotion of "replacing business tax with value-added tax", pharmaceutical companies are likely to increase investment in research and development, operate in a more compliant way and promote academic sunshine.
Information source Medical Economic News