/kloc-since may, the pilot reform of the camp has been fully promoted throughout the country. As the difficulty and focus of this reform, the real estate industry has attracted much attention. How to get rid of this "hard bone" directly affects the smooth completion of the whole reform and the steady development of the economy.
Under the new reform of camp reform, the definition of real estate industry is basically consistent with the provisions under the business tax regulations, which means that value-added tax will apply to real estate sales and leasing business, and affect major real estate types, such as residential, office buildings, industrial real estate, commercial real estate and so on. The real estate industry will apply the VAT rate of 1 1%, which is significantly higher than the business tax rate of 5%.
Shen, an indirect tax partner of KPMG China, believes that VAT is actually based on the difference tax (output minus input), while business tax is based on the full tax (output only), so it is meaningless to simply compare the new tax rate with the old tax rate directly. In addition, the implementation of the transitional policy will further affect the tax rate.
Although the specific real estate value-added tax algorithm and related supporting policies have not yet been introduced, the public is particularly concerned about the trend of housing prices after the reform of the camp. Dong Zhi, a paid partner and registered tax agent of Zhonghui Zhejiang Tax, said in an interview with the reporter of Shanghai Stock Exchange that since the value-added tax is an extra-price tax, the house price released by the Statistics Bureau after the reform of the camp is the house price after the separation of price and tax. Compared with the same period, the "decline" of house prices is certain, but the total amount paid by buyers may not necessarily decrease.
For example, he said that the house with a contract price of 5 million before the camp reform, under the same circumstances, after the camp reform, the current statistical house price: 500/(1+11%) = 4,504,500 yuan; Even if the housing enterprises adopt the simple tax method, the house price will still drop slightly: 500/(1+5%) = 4,766,438+0.900 yuan.
"In the case of simple collection, the tax burden of real estate enterprises decreased slightly. Under the general tax method, whether the tax burden of real estate enterprises will decrease depends on the financial management and supplier management of enterprises. The better the management, the more powerful the partners (large enterprises, suppliers adopting general taxation methods), and the more favorable the tax control of real estate enterprises. " Dong Zhi said.
In Shen's view, the reform of the camp is a smooth transition, and house prices will not fluctuate because of the introduction of policies. For example, if an individual sells a house that has been purchased for more than 2 years (including 2 years), it will be exempted from VAT. Except for Beijing, Shanghai, Guangzhou and Shenzhen, if an individual sells a house that has been purchased for less than 2 years, he shall pay the value-added tax in full at the rate of 5%; Individuals who purchase houses for more than 2 years (including 2 years) for external sales shall be exempted from VAT. This policy continues the provisions of business tax, which is not only applicable to individual owner-occupied housing, but also applicable to investment housing. This policy has an important impact on encouraging long-term holding of real estate and curbing speculation.
It is reported that relevant departments have been studying supporting policies related to real estate. At present, in the policy of camp reform, the purchase of real estate can be deducted from the value-added tax, which is widely interpreted by the society as "the strongest voice to save commercial real estate".
According to the relevant policies of camp reform, for the real estate acquired after 1 and accounted as fixed assets in the accounting system, or the real estate project under construction acquired after 1, the input tax should be deducted from the output tax within two years from the date of acquisition, with the deduction ratio of 60% in the first year and 40% in the second year.
"The tax deduction scope of newly purchased real estate is of great benefit to commercial real estate, which is conducive to the sales of office buildings, shops and other products of real estate enterprises." Dong Zhi said.
Since the reform of the camp is conducive to the destocking of commercial real estate, will the price of commercial real estate rise? Shi Yaobin, Vice Minister of Finance, has publicly stated that although the newly-added real estate can be deducted as input tax, enterprises will not buy a lot of real estate for deduction if it is not conducive to production and operation. If an enterprise invests in real estate, it means that it hopes to expand its business and occupy a bigger market in the future, which belongs to its own investment decision-making problem.
Dong Zhi believes that due to the change of value-added tax, real estate enterprises will strengthen the management of special invoices for value-added tax in the procurement process, which will put forward higher requirements for upstream suppliers. In the future, due to the general taxation method, getting more input tax can reduce the tax burden of real estate enterprises. In order to get as much input tax as possible, real estate enterprises will adjust their product structure and introduce more products such as finely decorated houses and household appliances.
Detailed comments
Camp reform: accelerating the destocking of real estate enterprises
Dongming petrochemical Group, located in Heze, Shandong Province, has planned to build a residential area with an area of 100 mu and a square meter through its Harbour New Town Real Estate Development Company as early as now, but the plan was not implemented until the recent full implementation of the camp reform.
Su, deputy general manager of finance of dongming petrochemical Group, calculated an account with his fingers: "Before the reform of the camp, this infrastructure project only had business tax, and it had to pay more than 30 million yuan, which was a big expense for local oil refining enterprises in urgent need of funds. After the reform, the deductible and disposable items such as land transfer fees are excluded as pre-tax income, which can directly save tax 10 million yuan, directly reduce tax by about 40%, and greatly reduce the occupation of enterprise development funds. It can be said that the reform of the camp has made us determined to do such a good thing for the company employees! "
Zhao Jiayuan, general manager of Shandong Zhangqiu Jiang Xiu Real Estate Co., Ltd., has long been concerned about the policy of increasing the value of the camp, and also arranged for the company's financial personnel to master the policy as soon as possible through study and training. He said that the biggest advantage now is that land costs can be deducted when calculating VAT sales.
"The cost of land transfer fees can account for about 30% of the total development and construction costs, and other construction and decoration expenses are also included in the deduction range accordingly. Enterprises can further reduce costs, and finally, by reducing housing prices and transferring them to buyers, they can better promote the digestion of inventory in the property market. " Zhao Jiayuan said.
The deduction of land cost and input tax is only one of the burden reduction effects brought by the reform of the camp to real estate development enterprises. Han, director of Zhangqiu Xiuhui State Taxation Bureau, said that after the reform of the camp, real estate enterprises can issue special VAT invoices for their sales premises. When ordinary taxpayers buy real estate, they can directly deduct the input tax of 1 1% based on the special invoice issued by the developer, which will increase the purchasing desire and investment enthusiasm of enterprises, and undoubtedly play a positive role in promoting the real estate development enterprises to digest their inventory.
In Han's view, reducing the tax cost of purchasing real estate can stimulate enterprises to eliminate old production capacity, actively purchase new factories and equipment, and upgrade the industrial structure. This double superposition of buying and selling interests will promote the transformation and upgrading of taxpayers and promote supply-side reform, which is also the "big red envelope" brought by the reform of the camp.
Camp reform: long-term promotion of construction industry norms and accelerated transformation
The construction industry has absorbed nearly 45 million employees, and the future development of the industry has attracted much attention after the reform of the camp.
Some experts and construction companies are worried about the beginning of the reform of the construction industry and think there is bad news. However, in the view of Liu Qiang, deputy director of the finance department of Anhui Construction Engineering Group, construction enterprises, especially large construction enterprises, should rationally understand the essence of the state's implementation of the reform of the camp. Although there are more or less problems in the initial stage, we believe that the relevant state departments will fully consider the current situation of the construction industry and introduce relevant improvement measures to make the industry better serve the new urbanization construction.
For example, he said that based on the completion of the production and operation of Anhui Construction Engineering Group, the value-added tax payable was 654.38+0.68 billion yuan more than the business tax before the reform, and the overall tax burden increased by 654.38+0.5%, resulting in a decrease of 654.38+0.7 billion yuan in total profits.
"Under the existing environment and implementation conditions, not all expenditures involving construction costs can obtain special VAT invoices or have higher input tax deductions, such as the wage costs of workers." Liu Qiang said that local materials such as sand and stone are subject to management restrictions, and it is difficult for most operating enterprises to obtain special invoices for value-added tax. In addition, construction projects often purchase materials from small-scale taxpayers or manual workshops sporadically, and the purchase quantity and amount are small, so it is difficult to obtain special invoices for value-added tax, which causes part of the costs to be deducted by the input tax and leads to an increase in the tax burden of construction enterprises.
"Construction enterprises must face up to reform, overcome path dependence, adapt to the new tax system with standardized management and honest management, and base themselves on the market." Liu Qiang said that in the long run, the reform of the camp will promote the transformation of the production mode of the construction industry, and promote construction enterprises to further strengthen internal management control and accelerate transformation and upgrading.
Camp reform: testing enterprise management and detail handling ability
Whether the corporate tax burden can be reduced or not and whether the corporate management is in place is very important.
Xiao Shengqing, finance minister of Anhui Power Construction Second Engineering Co., Ltd., China Energy Construction Group, suggested that enterprises should attach great importance to it, strengthen their study and carefully analyze tax-related risks. Under the guidance of comprehensive risk management, the internal organizational structure, project management mode and management processes such as subcontracting, labor employment, finance, contracts and procurement of the company are sorted out and analyzed according to the documents of the camp reform, so as to find out the tax-related risk points and links that may lead to the increase of tax burden after the camp reform, and revise the organizational structure and control processes in time.
Secondly, carefully calculate and choose the tax calculation method. Because the construction progress, contracting scope, settlement method and material supply method of each project are different, the choice of tax calculation method cannot be generalized. Therefore, the company calculates the tax burden cost for each project, and chooses the best way to ensure that the company's tax burden is only reduced but not increased.
Wang Jin, director of the State Taxation Bureau of Heze City, Shandong Province, believes that the pilot enterprises used to pay business tax, and the tax base was relatively simple and the calculation method was simple. After the reform of value-added tax, the calculation and accounting of value-added tax are more complicated. Effectively avoiding tax-related risks should be a key issue for enterprises. "It is suggested that the pilot enterprises in the camp reform should actively adapt to the changes in the tax system, actively learn thorough policies, actively improve their business models from the aspects of industrial chain construction and financial management, improve their governance mechanisms, and prevent tax risks."
Wang Jin reminded that in the past, when choosing material suppliers, builders usually chose the lowest price, which easily led to the phenomenon that "inferior materials drove out superior materials". After the reform of the camp, because the VAT invoices can be deducted, builders should fully consider whether they can obtain effective deductible VAT invoices when selecting material suppliers, so that large material suppliers will no longer be at a price disadvantage, and the building materials supply market will also face reshuffle and transformation and upgrading. "Through VAT invoices, a complete credit chain and deduction chain can be built, which can jointly promote the development and progress of upstream and downstream enterprises."
Wang Jin suggested that some large enterprises should go through the formalities quickly and try to provide VAT invoices for buyers as soon as possible. Some small suppliers of sand, soil and stone should also consciously be included in the normal management of value-added tax, take the initiative to issue special invoices for value-added tax on behalf of the national tax authorities, and pay taxes at the same time. This is beneficial to the country, suppliers and buyers. =