近日，某五金店老板因连续两年零申报被稽查，补税罚款超20万的消息冲上同城热搜。不少实体店主疑惑：免税额度内零申报也违规？金税四期下哪些操作 会触发预警？今天我们就用三个真实案例，拆解实体店零申报的高风险操作。 红线一：有收入却零申报=主动递罚单 2023年浙江某服装店被罚案例极具代表性。该店季度申报表全部填零，但税务系统比对发现其微信商户月均流水超8万元。店主辩解"客户都不要发票"，但 根据《税收征管法》第六十四条，只要发生应税行为就必须申报，不开票收入应填写在"未达起征点销售额"栏。 金税四期的可怕之处在于，它能通过五个维度交叉验证： 1. 第三方支付数据（单笔超5万元自动推送） 2. 对公账户资金流向（频繁转入个人账户会预警） 3. 行业毛利率偏差（如餐饮店申报收入低于同业50%） 4. 成本费用倒推（房租+水电+人工>申报收入即异常） 5. 上下游企业数据（进货发票金额与销售额严重不匹配） 红线二：超6个月零申报=自认非正常户 北京某文具店曾踩中这个隐形雷区。该店因装修停业5个月持续零申报，第6个月突然被锁定开票功能。税务机关出示的数据显示： 合规做法是：预计停业超3个月应立即办理停业登记，最长可申请6 ...

各地多措并举促进就业，帮助居民增收。图为重庆秀山县电商人才专场招聘会上，求职者正在咨询就业 创业政策。胡程摄（人民视觉） 近年来，中国互联网产业发展迅速。图为第八届进博会医疗器械及医药保健展区的美团医药健康展台， 参观者体验AI中医四诊合参仪。翁奇羽摄（人民视觉） 财政部近日公布的数据显示，今年1—11月，全国个人所得税14689亿元，同比增长11.5%。 横向看，各主要税种中，国内增值税、国内消费税、企业所得税同期分别增长3.9%、2.5%、1.7%。纵 向看，个税累计增速今年一季度为7.1%、上半年为8%、前三季度为9.7%，呈走高态势。今年以来，个 税收入增速为何较快？记者进行了采访。 对高收入人群税收征管加强 考察个税收入，首先要看居民收入。今年前三季度，全国居民人均可支配收入32509元，比上年同期名 义增长5.1%，扣除价格因素，实际增长5.2%。居民收入稳定增长，是个税收入增长的基础性支撑。 探究增速，还要看基数。有关专家分析，基数效应一定程度上放大了个人所得税增速。2024年1—11 月，个人所得税收入为13177亿元，同比下降2.7%。去年同期基数较低，使个税同比增速较为突出。 尽管增速较快 ...

（来源：说财话税） 2025年12月3日消息，上市公司云南云天化股份有限公司（600096云天化）全资子公司云南磷化集团有 限公司近期根据税务部门的要求，对涉税事项展开自查。 经自查，2022年—2025年10月应补缴资源税29,342.17万元，滞纳金9,264.55万元，总计38,606.72万元。 云天化的主营业务是化肥、磷矿采选、磷化工及新材料、商贸物流。公司的主要产品是尿素、磷酸一 铵、磷酸二铵、复合肥（掺混肥/功能肥）、磷矿石、聚甲醛、黄磷、饲料级磷酸氢钙、磷酸铁。 据公司2025年三季报信息，前三季度营业收入375亿元，归属于母公司所有者的净利润47亿元。上述补 缴税款及滞纳金占净利润的比重约为8%，而公司前三季度支付的各项税费金额合计达24亿元。 值得注意的是，这已是今年第76家上市公司补缴税款及滞纳金。76家上市公司累计补缴金额已超过35亿 元。 其中补缴金额超过1亿元的上市公司有7家，分别为： | 上市公司 | 涉及税种 | 补税金额 | | --- | --- | --- | | 600547山东黄金 | 企业所得税及滞纳金 | 738.340.359.85 | | 600096云天化 ...

Summary of the Conference Call on the Gold and Jewelry Market Industry Overview - The gold and jewelry market in Henan experienced a significant slowdown in growth, with an increase of only 3.6% in October 2025, compared to 30%-50% in previous months. This slowdown is attributed to a 50% rise in gold prices and uncertainty surrounding tax reforms, particularly affecting the capital city, Zhengzhou, due to low wedding demand [1][4]. Key Points and Arguments - **Impact of Tax Reform**: The tax reform primarily targets investment gold bars, with upstream factories currently invoicing at a 13% VAT, leading to an increase of 70 RMB per gram in upstream costs, resulting in retail prices exceeding 1,200 RMB per gram. Domestic brands like Lao Feng Xiang and Lao Miao allow the exchange of old materials, mitigating cost pressures compared to Hong Kong brands like Chow Tai Fook and Chao Hong Ji, which do not allow such exchanges [1][5]. - **Sales Performance**: In November, overall sales performance was poor due to the off-season, with a 6.3% increase in monetary sales but a 24.6% decline in inventory weight. Lao Feng Xiang showed the best performance with a 12.6% year-on-year growth, while Chow Tai Fook reported a sales figure of 2.27 billion RMB due to software issues [2]. - **Market Dynamics**: The investment gold bars account for about 3% of the market, with most sales still focused on jewelry. The proportion of fixed-price products has increased, with Chow Tai Fook at 35.7% in Henan, while other brands like Lao Feng Xiang and Lao Miao are lower at 10-12% [3][10]. - **Inventory and Supply Chain**: There was a 20% decline in inventory in November, influenced by gold price fluctuations, rumors of the end of the Russia-Ukraine war, and uncertainties from tax reforms. Many brands reduced their purchase volumes due to cash flow issues caused by rising gold prices [11]. - **Government Regulation**: The government may enhance regulations on the recovery and trading of old materials and require upstream factories to purchase raw materials from the Shanghai Gold Exchange to reduce tax evasion [7]. - **Consumer Sentiment**: Consumers are primarily feeling the impact of rising gold prices. However, with increased transparency regarding potential tax increases, their initial wait-and-see attitude has eased, and wedding demand remains a significant factor [9]. Additional Important Insights - **Brand Strategies**: Major brands are reducing pressure on franchisees and developing IP series and high-end products to increase margins. Approximately 70% of purchases from leading brands are now series or IP products, which helps differentiate them from lower-end brands [12][13]. - **Future Expectations**: The willingness of consumers to spend in 2026 will depend on the clarity of tax policies. If the government clarifies that only investment gold bars will be taxed, it could significantly lower costs for franchisees and boost confidence in purchasing [17]. - **Franchisee Challenges**: Franchisees are currently facing challenges due to high tax burdens and are reducing inventory in anticipation of price corrections and tax policy changes. Many are also experiencing cash flow issues due to high inventory costs [15][16]. - **Brand Goals for 2026**: Brands are discussing their targets for 2026 with franchisees, with many facing declining sales targets due to store closures and high tax burdens. For instance, Lao Miao has projected a nearly 20% decline in order volume for 2025 [18].

Group 1: Tax Revenue Growth - Personal income tax revenue in China reached 13,363 billion yuan from January to October 2025, showing a year-on-year growth of 11.5%, with October's growth rate jumping to 27.3% [2] - The increase in personal income tax is attributed to improved tax administration efficiency and diversification of tax sources, reflecting significant progress in tax governance capabilities [3][5] - The growth in personal income tax revenue is closely linked to enhanced tax collection efforts, particularly regarding overseas income [8] Group 2: Overseas Income Tax Compliance - Tax authorities in major cities have been actively notifying Chinese tax residents who invest in overseas stocks through platforms like Futu and Tiger Brokers to complete their tax declaration for overseas stock trading gains from 2022 to 2024 [1][5] - The implementation of the "Golden Tax Phase IV" has improved the monitoring of cross-border income and enhanced the identification of hidden income among high-net-worth individuals [5][6] - This year marks the first large-scale collection of overseas income tax from Chinese tax residents, utilizing tools like the Common Reporting Standard (CRS) for information exchange [7][8] Group 3: Factors Supporting Tax Revenue Growth - The active capital market has significantly contributed to the increase in capital income, which is a key driver of personal income tax growth [10][11] - High-income groups have shown resilience in their income, with substantial growth in stock option income and performance bonuses among professionals, further supporting tax revenue [11] - Economic recovery and low base effects from the previous year have amplified the growth rate of personal income tax [11]

Core Insights - The OECD Common Reporting Standard (CRS) has completed its fifth round of bulk exchanges, involving 157 countries, enhancing global tax transparency and compliance [1] - Chinese tax authorities have gained access to extensive overseas financial account information, allowing for more comprehensive regulation of cross-border business and financial flows [1] - Many enterprises still harbor misconceptions about cross-border tax compliance, necessitating professional guidance to navigate these complexities [1] Group 1: Misconceptions about Tax Compliance - The primary goal of tax compliance design is to reasonably reduce tax burden costs, not merely to avoid penalties [2][3] - Tax compliance is not a one-time setup; it requires continuous adjustments based on the business's operational stage and market conditions [4] - Companies often overlook the role of Hong Kong as a flexible hub for overseas expansion, focusing solely on destination compliance [6][7] Group 2: Importance of Professional Guidance - Enterprises must understand local market policies and tax risks to effectively evaluate potential returns and costs [5] - Professional services can help businesses design tax structures that consider global tax system differences, optimizing costs from the outset [3][4] - The collaboration between platforms and service providers is essential for creating a compliance ecosystem that supports Chinese enterprises in global markets [8]

Core Viewpoint - The compliance regulation of cross-border e-commerce in China is entering a deepening phase, with platforms like Amazon starting to report tax-related information of Chinese sellers. This shift is crucial for addressing the irregularities accumulated during the industry's rapid growth and is expected to reshape the compliance landscape for different types of sellers [1][2]. Industry Growth and Regulatory Changes - In 2024, China's cross-border e-commerce export scale is projected to exceed 2 trillion yuan, with a year-on-year growth of 16.9%, accounting for 8.5% of total goods trade exports. The overall cross-border e-commerce import and export volume is expected to reach approximately 2.71 trillion yuan, reflecting a 14% increase [2]. - The introduction of a reasonable tax system is seen as a necessary measure to ensure compliance within the industry, marking a shift from platforms being mere transaction facilitators to becoming key nodes in tax and compliance regulation [2][3]. Compliance Status and Challenges - The current compliance regulation is not the first of its kind; it has evolved from past initiatives to a more digital and regularized approach. The implementation of the "Golden Tax Phase IV" system is enhancing tax inspection and management [3]. - Data from the General Administration of Customs indicates that the total import and export volume of cross-border e-commerce in the first three quarters of 2025 is expected to be around 2.06 trillion yuan, with a growth rate of 6.4%, which is lower than historical levels due to the ongoing compliance processes [3][4]. Impact on Different Seller Types - For compliant sellers, the new tax information reporting requirements will have minimal impact, as they only need to ensure the accuracy of their information. However, small sellers lacking professional financial systems may face significant challenges in adapting to the new compliance landscape [4][5]. - The weak compliance awareness among small and medium-sized enterprises (SMEs) is attributed to several factors, including a lack of understanding of tax regulations, insufficient professional talent, and concerns about increased operational costs due to compliance [6][7]. Recommendations for Compliance - SMEs are encouraged to seek professional tax consulting and support to navigate complex tax issues and enhance their compliance capabilities. Regular training for employees on tax awareness is also recommended [9][10]. - Building a robust compliance system with professional tax personnel is essential for effective tax planning and management. Companies should also maintain open communication with tax authorities to resolve any disputes that may arise [10][11]. Long-term Industry Outlook - The current regulatory environment may pose challenges for non-compliant sellers, leading to increased operational costs and potential legal repercussions. However, the long-term effects of these regulations are expected to foster a more mature and high-quality development of the cross-border e-commerce sector [11][12]. - Compliant sellers may find new opportunities as the market space becomes less crowded with non-compliant entities, allowing them to focus on core business areas such as product innovation and customer service [11].

Revenue Analysis - In the first seven months of 2025, the national general public budget revenue reached CNY 135,839 billion, with a year-on-year growth of 0.1%[3] - Tax revenue showed a narrowing decline, with individual income tax increasing by 8.8%, significantly higher than the overall tax growth rate[3] - Non-tax revenue growth slowed down compared to the previous months, indicating challenges in asset management by local governments[3] Expenditure Analysis - Public fiscal expenditure for the same period was CNY 160,737 billion, reflecting a year-on-year increase of 3.4%[4] - Social security and employment expenditures grew by 9.8%, highlighting a focus on livelihood over infrastructure[4] - Infrastructure spending continued to decline, with negative growth in urban and rural community investments[4] Government Fund Performance - Government fund revenue decreased by 0.7%, while expenditures surged by 31.7%, primarily due to accelerated disbursement of special bonds[5] - The overall broad fiscal expenditure (public fiscal expenditure + government fund expenditure) increased by 9.3% year-on-year[5] Fiscal Progress - By July 2025, the national general public budget revenue completion rate was 61.8%, below the five-year average of 63.5%[3] - Public fiscal expenditure completion rate stood at 54.1%, also lower than the five-year average of 54.7%[4] Risk Factors - Economic environment changes could significantly impact tax revenue bases, while unexpected policy changes may alter fiscal expenditure patterns[6]

Revenue Insights - From January to July 2025, the national general public budget revenue reached CNY 135,839 billion, with a year-on-year growth of 0.1%[2] - The national general public budget expenditure was CNY 160,737 billion, showing a year-on-year increase of 3.4%[2] - Individual income tax revenue growth expanded to 8.8%, significantly higher than the overall tax revenue growth rate[2] Fund Budget Analysis - Government fund budget revenue decreased by 0.7% year-on-year, while expenditure surged by 31.7%[4] - The increase in fund expenditure is primarily due to the accelerated implementation of special national bonds and local special bonds[4] - The overall fiscal expenditure (public finance + government fund expenditure) grew by 9.3% year-on-year, reflecting a 0.4 percentage point increase from the previous month[4] Expenditure Trends - Public finance expenditure growth remained stable, with a focus on social welfare, which saw a 6.8% increase, particularly in social security and employment sectors, which grew by 9.8%[3] - Infrastructure spending continued to show negative growth, with specific sectors like urban community and transportation also experiencing declines[3] - Debt interest payments increased by 6.4%, indicating a rising trend in this area[3] Fiscal Performance Metrics - By the end of July 2025, the completion rate of the national general public budget revenue was 61.8%, below the five-year average of 63.5%[2] - The completion rate for public finance expenditure was 54.1%, also lower than the five-year average of 54.7%[3]

Core Viewpoint - The Ministry of Finance and the State Taxation Administration announced the resumption of value-added tax (VAT) on interest income from newly issued government bonds, local government bonds, and financial bonds starting from August 8, 2025, while maintaining VAT exemption for bonds issued before this date [1][2]. Group 1: Reasons for Policy Change - The historical mission of tax incentives has been fulfilled due to the significant scale of bond investments in the current "asset shortage" environment, making government bonds and local debts attractive [1]. - The policy aims to alleviate fiscal pressure and increase government revenue, with an estimated short-term revenue of approximately 33.7 billion yuan from the new VAT on bond interest income [2]. Group 2: Impact on Bond Market - The imposition of VAT on new bonds is expected to lead to an increase in issuance rates, creating a potential yield spread of 6-10 basis points between new and old bonds [3]. - The market reaction showed a short-term rise in 10-year government bond yields, followed by a decline, indicating investor preference for existing bonds due to anticipated tax pressures on new issues [3][4]. Group 3: Asset Class Implications - The removal of tax advantages for government bonds may shift investor interest towards equities and loans, although the overall impact on bond attractiveness is expected to be limited due to their low risk and high liquidity [4]. - The potential for a dual pricing mechanism for new and old bonds may emerge, with credit bonds maintaining their tax status, thus enhancing their relative attractiveness [4]. Group 4: Future Considerations - The central bank's policy direction will be crucial, particularly regarding liquidity measures to counterbalance the reduced attractiveness of new bonds [5]. - The ongoing debate about tax incentives for public funds and their potential changes could significantly affect the bond market's supply-demand structure [6]. Group 5: Individual Investor Impact - The impact on individual investors is minimal, as their participation in the bond market is low, and the VAT exemption for small taxpayers further mitigates any potential effects [7].