Invoice amount algorithm:
Tax point = tax/amount excluding tax * 100%
= (tax included amount-tax excluded amount)/tax excluded amount * 100%
For example, the tax-free amount is 1000 yuan, the tax-included amount is 1 170 yuan, and the tax rate is 17%, that is, 17 tax point.
Description of the formula:
Tax rate = (1170-1000)/1000 *100%.
= 170/ 1000* 100%
= 17%
As VAT is subject to the system of tax deduction with special VAT invoices, it requires taxpayers to have a high level of accounting, which requires accurate accounting of output tax, input tax and tax payable. But the reality is that many taxpayers can't meet this requirement, so the Provisional Regulations on Value-added Tax in People's Republic of China (PRC) divides taxpayers into general taxpayers and small-scale taxpayers according to their business scale and sound accounting. The specific criteria are as follows:
Production taxpayers, the annual VAT taxable sales of 500,000 yuan;
Wholesale, retail and other non-productive taxpayers, the annual VAT taxable sales of 800,000 yuan.
According to the basic principle of determining the value-added tax rate, China's value-added tax has set a basic tax rate and a low tax rate in addition to zero tax rate for export goods.
(1) basic tax rate
Taxpayers selling or importing goods other than those listed, the tax rate is 13%[3], and providing processing, repair and replacement services, the tax rate is 13%[3]. This tax rate is usually called the basic tax rate.
(2) Low tax rate
Taxpayers sell or import the following goods at a tax rate of 9%. This tax rate is usually called low tax rate.
1. cereals and edible vegetable oils.
2. Tap water, heating, cold water and hot water; Coal gas, liquefied petroleum gas, natural gas, biogas, residential coal products.
3. Books, newspapers and magazines.
4. Feed, fertilizer, pesticide, agricultural machinery, plastic film.
5. Agricultural products.
6. Metal ore mining and mineral processing products.
7. Non-metallic mineral mining and dressing products.
8. Audio-visual products and electronic publications (from 1, since 2007).
9. Dimethyl ether (since July 2008 1 day) and salt (since September 2007 1 day).
10. Other goods specified by the State Council.
(3) Zero tax rate
Taxpayers export goods at zero tax rate. Unless otherwise stipulated by the State Council.
Baidu Encyclopedia-VAT rate