欢迎扫描下方二维码关注： 你了解建筑服务的增值税如何处理吗？申税小微整理了相关知识点，带你一文了解全部！ 政策要点 建筑服务的范围 建筑服务，是指各类建筑物、构筑物及其附属设施的建造、修缮、装饰，线路、管道、设备、设施等的安装以及其他工 程作业的业务活动。包括工程服务、安装服务、修缮服务、装饰服务和其他建筑服务。 计税方法 按照现行规定应在建筑服务发生地预缴增值税的项目，纳税人收到预收款时在建筑服务发生地预缴增值税。 按照现行规 定 无需在建筑服务发生地预缴增值税的 项目，纳税人收到预收款时在机构所在地预缴增值税。 纳税人跨县（市、区）提供建筑服务，向建筑服务发生地主管税务机关预缴税款，向机构所在地主管税务机关申报纳 税。 2.预征率 适用一般计税方法计税的项目预征率为2%，适用简易计税方法计税的项目预征率为3%。 3.预缴税款与申报纳税 注意：自2023年1月1日至2027年12月31日，按照现行规定应当预缴增值税税款的小规模纳税人，凡在预缴地实现的月销 售额未超过10万元的，当期无需预缴税款。在预缴地实现的月销售额超过10万元的，适用3%预征率的预缴增值税项目，减按 1%预征率预缴增值税。 纳税人按照上述 ...

Core Insights - AS Tallinna Vesi reported a significant increase in sales for the second quarter of 2025, reaching €19.4 million, which is a 23.4% increase compared to the same period in 2024, primarily driven by construction services sales [1][18] - The company's net profit for the second quarter was €1.37 million, a decrease of €0.83 million from the previous year, largely due to higher tax costs [2][24] - The company is focused on infrastructure development, with plans to build and rehabilitate approximately 45 kilometers of pipelines in 2025, aiming to minimize disruption to city life [3][4] Financial Performance - Revenue for the second quarter of 2025 was €19.4 million, up from €15.7 million in 2024, marking a 23.4% increase [18] - Gross profit increased to €7.15 million, a 12.8% rise from €6.34 million in the same quarter of 2024 [18] - Operating profit for the second quarter was €5.14 million, reflecting a 15.2% increase compared to €4.46 million in the previous year [18] Investment and Infrastructure - The total planned investment for 2025 is €61 million, with significant progress made in pipeline construction and rehabilitation [8][3] - The company has adopted no-dig techniques for approximately half of the pipelines completed this year, enhancing efficiency and reducing disruption [3][5] - Major construction projects are underway on several key streets, including Kopli Street and Tammsaare Road, which are crucial for local infrastructure [4] Environmental and Quality Standards - The quality of treated wastewater exceeded effluent standards, with over 270 tonnes of solid waste and significant amounts of nitrogen and phosphorus removed during the second quarter [9] - Tap water quality remained excellent, meeting 100% of quality requirements, with a high customer trust level reported [10] - The water loss rate in the distribution network improved to 12.4%, down from 13% a year earlier, due to ongoing monitoring and rehabilitation efforts [11][12] Customer Engagement and Community Initiatives - The company organized public events to raise awareness about the benefits of tap water and environmental protection, including providing fresh drinking water at community celebrations [13] - In May, 59 public drinking water taps were opened across Tallinn to promote the use of tap water [14] - By the end of the second quarter, smart meters had been installed for 72% of customers, enhancing leak detection and customer feedback has been positive [15] Corporate Social Responsibility - Tallinna Vesi received recognition for its commitment to environmental sustainability, achieving gold level in the Corporate Social Responsibility Index [16] - The company also supports national defense initiatives and offers summer traineeships to students [16][17]

Financial Data and Key Metrics Changes - The company reported a net debt position of negative €223 million, excluding infrastructure project companies, which does not include proceeds from the divestment of Hydro [5] - Adjusted EBITDA for the construction segment was €191 million, up 4.2% year-over-year, with an adjusted EBIT margin of 3.5%, in line with long-term targets [18][19] - Operating cash flow was negative €104 million in the first half, compared to negative €53 million in the same period last year, primarily due to a lack of advanced payments [19][24] Business Line Data and Key Metrics Changes - Highways revenues grew by 14.9% in the first half on a like-for-like basis, with adjusted EBITDA improving by 17.1%, driven by strong performance from U.S. assets [7][8] - U.S. Highways represented 88% of total highways revenues and 97% of total adjusted EBITDA, with revenue growth of 15.9% and adjusted EBITDA growth of 14% [8] - The construction segment saw revenues reach €3,453 million, a 2.6% increase year-over-year on a like-for-like basis [18] Market Data and Key Metrics Changes - Traffic improved by 5.8% in the second quarter, driven by targeted rush hour promotions, although adverse weather and construction delays impacted performance [10] - At JFK Airport, the new Terminal 1 project is 72% complete, with construction on schedule and on budget [15] - Dalaman Airport in Turkey experienced a slight traffic decline of 0.3% in the first half, influenced by lower domestic passenger volumes [17] Company Strategy and Development Direction - The company continues to focus on growth investments, divestments, and shareholder distributions, with a healthy pipeline of U.S. highways assets [30] - The strategic horizon plan is being executed, with updates on progress expected [30] - The company is optimistic about future opportunities in Poland, particularly with European funds and potential reconstruction efforts in Ukraine [97] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term growth prospects of North American assets, driven by increased customer segmentation and local economic growth [30] - The company anticipates limited exposure to inflation and a healthy construction order book [30] - Management noted that the competitive environment for U.S. Managed Lanes remains similar to previous years, with expectations for continued success in upcoming bids [70] Other Important Information - The company completed the acquisition of a 5.06% stake in four zero seven ETR for CAD 1.99 billion, increasing its stake from 43.23% to 48.29% [6] - Dividends from North American highways totaled €240 million in the first half, compared to €339 million in the same period last year [9] - The company issued $1.4 billion in long-term green bonds, completing the refinancing of phase A for the NTO project [16] Q&A Session Summary Question: Insights on revenue growth in I-77 and I-66 - Management attributed revenue growth to economic activity and population growth in metropolitan areas, along with the ability to adjust toll rates based on customer value [37][40] Question: Earnings from ProBio Construction - Management noted that the decline in Q2 earnings was due to additional costs related to utilizations and IT systems, with a long-term EBIT margin target of 3.5% [44] Question: Upstream dividends and shareholder returns - Management indicated that dividends from infrastructure projects are tied to asset performance, with a target of €2.2 billion in dividends for the period 2024-2026 [54] Question: Schedule 22 provision and traffic trends - Management explained that the reduction in the Schedule 22 provision was based on updated traffic data and successful promotions attracting more users during peak times [68][80] Question: ETR dividend factors and capital structure - Management confirmed that there is potential for increased dividends from ETR, with room for adjustments in capital structure for I-66 and I-407 [110]

Company Overview - Zhangli International (璋利国际) is a leading construction service company in Malaysia, established in 1996, with over 20 years of operational history [3] - The company specializes in various construction services and is capable of undertaking PPP projects under the BLMT model, which allows for long-term recurring cash flows [3] - According to industry reports, the company ranked 18th among publicly listed construction companies in Malaysia based on construction service revenue in 2015 [3] Financial Performance - As of March 31, 2025, Zhangli International reported total revenue of 266 million yuan, representing a year-on-year growth of 40.18% [2] - The company experienced a net loss attributable to shareholders of 39.45 million yuan, a significant decrease of 1989.86% compared to the previous year [2] - The gross profit margin stood at -3.3%, and the debt-to-asset ratio was 99.54% [2] Market Performance - On July 25, the Hang Seng Index fell by 1.09%, closing at 25,388.35 points, while Zhangli International's stock price increased by 8.3% to 2.87 HKD per share, with a trading volume of 24,200 shares and a turnover of 67,200 HKD [1] - Over the past month, Zhangli International has seen a cumulative decline of 14.52%, but it has achieved a year-to-date increase of 96.3%, outperforming the Hang Seng Index's rise of 27.95% [2] Valuation Metrics - Currently, there are no institutional investment ratings for Zhangli International [3] - The average price-to-earnings (P/E) ratio for the construction industry (TTM) is 10.58, with a median of -0.21 [3] - Zhangli International's P/E ratio is -2.45, ranking it 182nd in the industry, compared to other companies such as HPC Holdings (0.93), Pujiang International (1.01), and others [3]

Core Viewpoint - The company, Tibet Tianlu Co., Ltd., is forecasting a significant loss for the first half of 2025, with net profit expected to be between -115 million yuan and -77 million yuan, indicating an increase in losses compared to the previous year [2][3]. Group 1: Performance Forecast - The company anticipates a net profit attributable to shareholders of -115 million yuan to -77 million yuan for the first half of 2025, which represents an increase in losses of 9.68 million yuan to 47.68 million yuan compared to the same period last year, reflecting a year-on-year increase in losses of 14.38% to 70.83% [2][3]. - The expected net profit after deducting non-recurring gains and losses is projected to be between -83 million yuan and -45 million yuan, indicating a reduction in losses of 25.14 million yuan to 63.14 million yuan compared to the previous year, with a year-on-year decrease in losses of 23.25% to 58.39% [2][3]. Group 2: Previous Year Performance - In the same period last year, the total profit was -92.94 million yuan [5]. - The net profit attributable to shareholders was -67.32 million yuan [6]. - The net profit after deducting non-recurring gains and losses was -108.14 million yuan [7]. Group 3: Reasons for Performance Decline - The construction segment saw a significant increase in revenue due to the commencement of existing projects, but limited cost-cutting options constrained profit growth. Additionally, government investment project management in key provinces led to the completion or suspension of existing projects, resulting in decreased revenue and profit for the subsidiary [10]. - The building materials segment experienced a slight market recovery, with increased demand and sales, although profit margins were reduced due to price controls on certain projects. Overall revenue and profit still increased compared to the previous year [10]. - Other segments, such as highway supervision projects, reported increased revenue, leading to a significant reduction in net losses compared to the previous year [10]. - Non-operating gains and losses were impacted by fluctuations in the fair value of stocks held by the company, with a decrease of 39.39 million yuan affecting net profit attributable to shareholders [10].

Core Insights - The report indicates that the manufacturing sector is expected to have the highest earnings growth, while the TMT (Technology, Media, and Telecommunications) sector is anticipated to show the most significant improvement in performance [2] - The light industry, non-ferrous metals, and non-bank financial sectors are projected to have high earnings growth in their mid-year reports, whereas the construction materials, electronics, and telecommunications sectors are expected to show substantial performance improvements [2] Industry Research - The autonomous logistics vehicle market is expected to exceed 10 billion yuan by 2030, driven by the complete commercialization of autonomous logistics vehicles, which are set to reshape urban delivery ecosystems [6] - The insurance sector is likely to benefit from the new long-cycle assessment requirements, which will allow insurance companies to invest more aggressively in the market by smoothing out short-term performance fluctuations [7] - The oil and petrochemical sector is experiencing a rebound in oil prices due to increased demand and OPEC+ production adjustments, with Brent and WTI crude oil prices rising by 3.1% and 3.4% respectively [9] - The basic chemical sector is expected to see a recovery in organic silicon prices following the closure of a major production facility by Dow Chemical, which will reduce supply in Europe [10] - The livestock sector is showing signs of recovery with improved pig prices and a long-term upward trend in profitability expected [11] - The copper industry is facing potential supply pressures due to changes in U.S. tariffs and inventory flows, with investment recommendations focusing on several key companies [12] - The coal sector is expected to maintain stable supply and demand dynamics, with a positive outlook for coal prices during the summer peak [13] Company Research - China State Construction Engineering Corporation is highlighted for its competitive dividend yield compared to banks, with stable earnings growth and a strong order book, maintaining a "buy" rating [14] - TCL Technology is recognized for its improving display business profits, although its solar energy segment remains under pressure, leading to adjusted profit forecasts for 2025-2027 [15] - Sunny Optical Technology is expected to benefit from rising optical specifications and increased automotive lens shipments, with profit forecasts for 2025-2027 being raised [16][17] - Miao Ke Lan Duo is projected to achieve significant profit growth in the first half of 2025, driven by favorable cheese consumption trends, maintaining an "overweight" rating [18]

Group 1 - Saudi Arabia is experiencing an unprecedented construction boom driven by the "Vision 2030" strategy, making it the largest construction market in the Arab region [1] - The construction market is projected to reach $74.11 billion by 2025, with an average annual growth rate of approximately 5.37% over the next five years, potentially reaching $96.26 billion by 2030 [3] - The building materials sector is also thriving, with the market expected to reach around $88.5 billion by 2025, and the imported wood market projected to grow from $2.1 billion in 2024 to $2.8 billion [3] Group 2 - The Saudi government plans to invest up to 4.13 trillion riyals (approximately $1.1 trillion) in infrastructure and real estate as part of the "Vision 2030" initiative, highlighting its commitment to the construction industry [4] - Currently, around 20 mega-projects have been initiated, including the world-renowned NEOM project [4] - The construction boom is positively impacting the tourism and hospitality sectors, with Saudi Arabia ranking high in global hotel construction, featuring 90 five-star hotel projects and over 33,000 rooms [4]

Core Viewpoint - The article clarifies common misconceptions regarding the classification of construction services under value-added tax (VAT) regulations, emphasizing the distinctions between various types of services and their corresponding tax rates. Group 1: Misunderstandings about Construction Services - Misunderstanding 1: Services with "engineering" or "construction" in their name are classified as construction services. In reality, engineering design is categorized under cultural and creative services, while engineering supervision and building plan review fall under certification consulting services, not construction services [1]. - Misunderstanding 2: Plant maintenance services are considered construction services. However, they are classified as other life services and do not fall under construction services [2]. - Misunderstanding 3: Repair services, maintenance, and upkeep are the same and all classified as construction services. In fact, only repair services are classified as construction services, while maintenance and upkeep are categorized differently with distinct VAT rates [3]. Group 2: Tax Rates and Classifications - The VAT rates for different services are as follows: - Repair services: 13% VAT rate for restoring damaged goods [3]. - Construction repair services: 9% VAT rate for repairing and maintaining buildings [3]. - Maintenance services: 6% VAT rate for maintenance of machinery and equipment [3]. - The tax classification codes for construction services are as follows: - Engineering services: 30501 - Installation services: 30502 - Repair services: 30503 - Decoration services: 30504 - Other construction services: 30599 [4].

Core Viewpoint - The article discusses the tax policies and risks associated with providing construction services across different administrative regions, emphasizing the importance of proper tax payment and compliance to avoid penalties [3][5]. Tax Policy - Taxpayers providing construction services across counties (cities, districts) must prepay taxes to the tax authority where the service occurs, following the guidelines in the fiscal document [3]. - For services provided within the same administrative region, the temporary measures for tax collection do not apply [3]. Tax Risk Points - Risks arise when taxpayers fail to prepay taxes at the service location upon receiving advance payments, especially when services are provided across different administrative regions [5]. - Taxpayers must clearly understand the timing of tax obligations, which occurs on the day advance payments are received [5]. - The location for tax prepayment must be determined based on whether the service location and the taxpayer's registered location are in the same administrative region [5]. Tax Calculation Methods - General taxpayers should use the general tax calculation method, while those providing services through subcontracting or supply contracts may opt for a simplified method [5][6]. - The prepayment tax calculation for general taxpayers is based on the total price and additional fees, adjusted for subcontracting payments [5][6]. Related Tax Incentives - Small-scale taxpayers with monthly sales not exceeding 100,000 yuan (or quarterly sales not exceeding 300,000 yuan) are exempt from prepayment [8]. - If monthly sales exceed 100,000 yuan, a reduced prepayment rate of 1% applies instead of the standard 3% [8]. Documentation Requirements - Taxpayers must maintain records including contracts with contractors and subcontractors, tax payment ledgers, invoices from subcontractors, and proof of tax payment [8].