How to deal with VAT invoices that have been certified but not declared?
How to deal with VAT invoices that have been certified but not declared? According to the Notice on Adjusting the Deduction Period of VAT Deduction Certificates (GSH [2009] No. 617). General VAT taxpayers who obtain special VAT invoices, unified invoices for highway and inland waterway cargo transport industry and unified invoices for motor vehicle sales issued after January 1, 2010 shall go through certification with the tax authorities within 180 days from the date of issuance, and declare the deducted input tax to the competent tax authorities within the declaration period of the month following the certification. VAT is a kind of turnover tax levied on the basis of the value-added generated in the circulation of goods (including taxable services). From the tax principle, VAT is a turnover tax levied on the added value of many links in the production, circulation and service of goods or the added value of goods. The implementation of tax beyond the price means that consumers will bear the burden. Only when there is value added, tax will be levied. No tax will be levied if there is no value added. VAT is a tax levied on the value-added realized by units and individuals who sell goods, provide processing, repair and replacement services, and import goods. VAT has become one of the most important taxes in China. The income of VAT accounts for more than 60% of all taxes in China, which is the largest tax. VAT is collected by the State Administration of Taxation. 50% of the tax revenue is from the central government and 50% is from local governments. The customs is responsible for the collection of VAT in the import link, and the tax revenue is all the revenue of the central government. The Ministry of Finance and the State Administration of Taxation issued the Notice on Policies Related to the Simplified VAT Rate. Since July 1, 2017, the simplified VAT rate structure has eliminated the 13% VAT rate, and defined the scope of goods applicable to the 11% tax rate and the provisions for deducting input tax. Do you understand this explanation?
