Financial institutions, small loans, interest income tax exempt from value-added tax

According to the notice, enjoy preferential tax farmers, refers to the long-term (more than one year) living in villages and towns (excluding county towns) administrative area residents, including long-term residence in the town within the administrative villages under the jurisdiction of the household and household registration in the current local residents living for more than a year, the state-owned farm the workers and rural individual industrial and commercial households.
The two sector is clear, since January 1, 2017 to December 31, 2019, financial institutions, farmers, small loans interest income, in calculating taxable income, according to 90% included in total income.
At present, the peasant household micro loan interest rate is in accordance with the people’s Bank of China benchmark interest rate and floating range, there is a certain discount. In good faith, the credit rating of “good” farmers, preferential lending rates is greater.
Farmers are households as statistical units. They can engage in agricultural production or engage in non-agricultural production and management. Determination of loans to farmers should take loans when loans subject whether it belongs to the farmers for the quasi.
In addition, the premiums earned by the insurance company for the insurance of the farming and breeding industry are calculated as 90% of the total income when calculating the taxable income.
In addition, the preferential tax for small loans refers to a single sum of the loan balance of the total amount of farmers in the 100 thousand yuan (including the number) below the loan.
Notice clear, is located in the township (excluding county towns) organs and administrative management within the region and within the administrative villages under the jurisdiction of the state-owned economy in the Chengguan town groups, schools, enterprises and institutions of the collective households; there are local accounts, but moved out to make a living for more than a year of the residents, regardless of whether the contract land is not retained belong to the farmers.
In order to continue to support rural financial development, in recent years, the state and financial institutions have increased their support for agriculture and credit, and supported the development of agriculture, rural areas and farmers. Farmers who are in urgent need of cash flow or entrepreneurial intentions may apply for small loans to agricultural institutions such as agricultural bank, postal savings bank or rural credit cooperatives.
The Ministry of Finance and the State Administration of Taxation issued 13 days notice that since January 1, 2017 to December 31, 2019, the interest income of microfinance households in financial institutions has been exempted from vat.

Original article, reprinted please note: ReprintLOAN

The link address of this article: Financial institutions, small loans, interest income tax exempt from value-added tax

文章的脚注信息由WordPress的wp-posturl插件自动生成