Analysis on the Financial and Tax Processing of the Income Tax of Agricultural Products plus Deduction
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DOI: 10.25236/icebfm.2019.020
Corresponding Author
Fan Mei
Abstract
With the implementation of the simplified policy of VAT tax rate, the new problem of "adding and deducting the input tax of agricultural products" comes along. The author analyses the financial and tax treatment of the input tax plus deduction of agricultural products. It is found that the announcement of No. 37 of Finance and Taxation in 2017, Notice on Policies Concerning the Reduced VAT Tax Rate and No. 19 of Notice Concerning the Adjustment of VAT Tax Declaration, further improves the relevant issues of agricultural products plus deduction. Therefore, in order to encourage enterprises to engage in research and development activities, it is necessary to increase investment in independent innovation, improve the ability of independent innovation, and enhance the core competitiveness of enterprises.
Keywords
Agricultural products, Taxes, Fiscal and tax treatment