增值税法实施条例公开征求意见 增强税制可操作性

Core Viewpoint - The implementation of the new Value-Added Tax (VAT) Law in China, effective from January 1, 2026, is supported by the draft implementation regulations released by the Ministry of Finance and the State Taxation Administration, which aim to ensure a smooth transition and stability in tax policy [1][2]. Group 1: Implementation Regulations - The draft implementation regulations consist of 6 chapters and 57 articles, detailing the VAT Law's provisions and enhancing the legal framework for VAT in China [1]. - The regulations clarify definitions related to taxable transactions, including goods, services, intangible assets, and real estate, thereby defining the scope of VAT [1]. - Specific rules regarding tax rates for exported goods and cross-border sales of services and intangible assets are outlined, along with detailed explanations for various tax rate applications [1][2]. Group 2: Policy Stability - The draft maintains the basic stability of existing tax policies, particularly regarding the financial sector, which has been under VAT since the "business tax to VAT" reform in 2016 [2]. - The regulations continue the current policy on the deductibility of input tax related to loan interest, ensuring policy consistency and certainty [2]. Group 3: Optimization of Tax Policies - The draft optimizes tax policies in line with the fundamental principles of VAT, stating that input tax related to non-taxable transactions cannot be deducted from output tax [3]. - For long-term assets exceeding 5 million yuan, full input tax can be deducted at the time of purchase, with subsequent adjustments based on mixed-use applications [3]. - The implementation of the VAT Law is expected to support the construction of a modern VAT system that aligns with the goals of high-quality economic development and the establishment of a unified national market [3].