增值税法实施条例公开征求意见 增强税制确定性和可操作性

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 the tax system [1][2]. Group 1: Implementation Regulations - The draft implementation regulations consist of 6 chapters and 57 articles, detailing the VAT Law's provisions and ensuring alignment with existing VAT systems [1]. - The regulations enhance the certainty and operability of the tax system by clarifying definitions of taxable transactions, tax rates, and tax deductions [1][3]. Group 2: Policy Stability - The draft maintains the basic stability of current tax policies, particularly regarding the financial sector, which has been under VAT since the "business tax to VAT" reform in 2016 [2]. - The regulations provide clarity on the deductibility of input VAT related to loan interest, continuing existing policies to ensure stability and certainty [2]. Group 3: Optimization of Tax Policies - The draft optimizes tax policies in line with VAT principles, specifying that input VAT cannot be deducted for non-taxable transactions [3]. - It introduces a new approach for long-term assets, allowing full input VAT deduction for assets over 5 million yuan, with subsequent adjustments based on usage [3]. Group 4: Broader Economic Impact - The VAT system impacts all sectors of the national economy and is crucial for taxpayer interests, with expectations for a smooth implementation that aligns with broader fiscal reform goals [3].