Announcement of the State Administration of Taxation on Issues concerning the Taxation Credit by Overdue Value-added Tax Deduction Vouchers
Announcement of the State Administration of Taxation on Issues concerning the Taxation Credit by Overdue Value-added Tax Deduction Vouchers
Announcement of the State Administration of Taxation on Issues concerning the Taxation Credit by Overdue Value-added Tax Deduction Vouchers
Announcement of the State Administration of Taxation [2011] No. 50
September 14, 2011
For the purpose of safeguarding the legitimate rights and interests of the taxpayers and upon the approval of the State Council, it is hereby notified as follows the taxation credit issues concerning the value-added tax ("VAT") credit vouchers issued after January 1, 2007 and failed to go through the formalities for certification or audit within the prescribed time limit (hereinafter referred to as "Overdue"):
I.Where the general VAT taxpayers have conducted true transactions but the VAT deduction vouchers go overdue due to objective reasons, taxpayers are allowed to continue to deduct from their input tax amount by use of such VAT deduction vouchers that are conformable upon verification and audit by comparison by the State Administration of Taxation after the competent tax authorities reviewed the same and then reported to superior authorities level by level.
Where general VAT taxpayers cause the VAT credit vouchers overdue for reasons other than those specified in Article 2 hereof, it shall be implemented in accordance with the relevant provisions concerning the taxation credit time limit for VAT credit vouchers.
For the purposes of this Announcement, VAT credit vouchers include special VAT invoices, special bill of payment of import VAT and consolidated invoice for road, inland river freight industry.
II.The objective reasons shall include the following types:
1.
......
Announcement of the State Administration of Taxation [2011] No. 50
September 14, 2011
For the purpose of safeguarding the legitimate rights and interests of the taxpayers and upon the approval of the State Council, it is hereby notified as follows the taxation credit issues concerning the value-added tax ("VAT") credit vouchers issued after January 1, 2007 and failed to go through the formalities for certification or audit within the prescribed time limit (hereinafter referred to as "Overdue"):
I.Where the general VAT taxpayers have conducted true transactions but the VAT deduction vouchers go overdue due to objective reasons, taxpayers are allowed to continue to deduct from their input tax amount by use of such VAT deduction vouchers that are conformable upon verification and audit by comparison by the State Administration of Taxation after the competent tax authorities reviewed the same and then reported to superior authorities level by level.
Where general VAT taxpayers cause the VAT credit vouchers overdue for reasons other than those specified in Article 2 hereof, it shall be implemented in accordance with the relevant provisions concerning the taxation credit time limit for VAT credit vouchers.
For the purposes of this Announcement, VAT credit vouchers include special VAT invoices, special bill of payment of import VAT and consolidated invoice for road, inland river freight industry.
II.The objective reasons shall include the following types:
1.
......