Income from tax-free accounting entries in tourism industry

Income from tax-free accounting entries in tourism industry

Debit: accounts receivable

Loan: income from main business

Which industries enjoy the VAT exemption policy for epidemic prevention and control?

1, public transport services * * * Specific scope of public transport services: public transport services, including passenger ferry, bus passenger transport, subway, urban light rail, taxis, long-distance passenger transport and shuttle buses.

2. Life service refers to all kinds of services provided to meet the daily needs of urban and rural residents, including cultural and sports services, education and medical services, tourism and entertainment services, catering and accommodation services, residents' daily services and other life services.

3. To provide residents with express delivery services for essential daily necessities, including receiving service, sorting service and delivery service.

Receiving and posting service refers to the business activities of receiving, sorting and delivering letters and parcels within the promised time limit.

Receiving and posting service refers to the business activities of receiving the sender's letters and parcels and transporting them to the distribution center in the same city as the service provider.

Sorting service refers to the business activities of service providers to classify and distribute letters and parcels in their distribution centers.

Delivery service refers to the business activities of service providers to deliver letters and parcels from their distribution centers to recipients in the same city.

4 taxpayers' income from transporting key materials for epidemic prevention and control mainly depends on whether the transported materials belong to the scope of key materials for epidemic prevention and control determined by the National Development and Reform Commission and the Ministry of Industry and Information Technology. Only the income from providing materials within the prescribed transportation scope can be exempted from value-added tax.

If the epidemic situation is tax-free, can I still enjoy tax exemption by issuing special VAT invoices?

Issuing special VAT invoices is not tax-free. To enjoy tax exemption, you need to issue a red ticket corresponding to the special ticket that has been issued, or void the original invoice and re-issue an ordinary ticket.

Announcement on supporting the tax collection and management related to the prevention and control of pneumonia in novel coronavirus (State Taxation Administration of The People's Republic of China Announcement No.4, 2020);

Three, taxpayers in accordance with the relevant provisions of Announcement No.8 and Announcement No.9 apply the policy of exemption from value-added tax, and shall not issue special invoices for value-added tax; If a special VAT invoice has been issued, the corresponding red-letter invoice should be issued or the original invoice should be invalidated, and then the VAT exemption policy should be applied to issue ordinary invoices according to regulations.

If a taxpayer has issued a special VAT invoice during the epidemic prevention and control period, but fails to issue a corresponding red-ink invoice in time according to the provisions of this announcement, the VAT exemption policy can be applied first, and the corresponding red-ink invoice can be issued within 1 month after the implementation of the relevant VAT exemption policy expires.

Tourism tax-free accounting entry income is as above. Because it is tax-free, there is no need to accrue taxes and fees, and accounting entries are relatively simple. However, tourism is not always tax-free, and its tax-free policy is time-limited. Finance should also pay more attention to the latest policies given by the tax bureau when dealing with the tax problems of tourism.