Recently, I received a message in a private message on the official account, and the story behind it is embarrassing.
A trainee's business owner asked for help when he was carrying out an equity transfer due to high personal income tax.
After an in-depth investigation, the consultant found that there were many problems in the company's past accounting, taxation and internal control, resulting in an additional individual income tax of more than 1.6 million yuan for equity transfer.
Despite the final savings of more than 600,000, the company still had to pay 150,000 in consulting fees. After learning the reason, the boss fired the original treasurer in a fit of rage.
So, why does the equity transfer expose the deep financial and tax problems of the enterprise? Why does it lead to such a high amount of individual income tax? How does this financial and tax consultant help enterprises save 600,000 yuan? ……
Knowing that everyone will inevitably have all kinds of questions and confusions, I will analyze it in detail for you~
1. Calculation of individual income tax on equity transfer
The calculation formula of individual income tax on equity transfer is: (transfer income - original value of equity - reasonable expenses) ×20%.
The "original value of equity" here, that is, the actual price paid when purchasing equity, is still relatively simple and straightforward.
However, the determination of "transfer income" is more complex.
According to the policy, the income from the equity transfer must be determined on the basis of the arm's length principle. If the price is obviously low, the tax department has the right to verify it.
2. Methods for approving transfer income
When approving the transfer income, the tax authorities mainly rely on the Administrative Measures for Individual Income Tax on Income from Equity Transfer (for Trial Implementation) (Announcement No. 67 [2014] of the State Administration of Taxation, hereinafter referred to as "Circular No. 67").
According to Circular 67, the tax authorities may adopt the "net assets assessment method", "analogy method" or other reasonable methods in turn.
Among them, the "net assets verification method" is the key.
When carrying out the equity transfer, the transfer income of the individual shall not be less than the fair value of the investee's share of the net assets of the investee.
3. Case analysis
Let's take the company of the student mentioned above as an example.
The company has two sets of accounts: the net assets shown in the internal account are 12 million, while the external account is inflated due to some costs and expenses, resulting in inflated profits, and the net assets are also inflated accordingly, reaching 20 million.
Suppose the company transfers 100% of its equity, but it may only receive 12 million.
According to the "Net Asset Verification Law", if the original value of the equity is 0, then the tax department will consider the individual income tax payable by the enterprise to be 20 million multiplied by 20%, that is, 4 million.
However, the old shareholders of the enterprise can only actually receive 12 million, and they believe that the individual income tax they should pay should be 12 million multiplied by 20%, that is, 2.4 million.
That said, this discrepancy results in a high tax burden for businesses.
In order to solve this problem, the company found a financial and tax consultant for planning.
In the process of sorting out the company's accounts, the consultant found that the company had a large number of unbilled expenditures, which were not recorded in the accounts, but were linked to other receivables, resulting in an inflated profit of more than 8 million yuan.
After an in-depth investigation, the consultant found that these problems were not formed overnight, but were caused by the negligence of enterprises in contract management and invoice management for a long time.
In order to solve these problems, the consultant put forward a series of suggestions such as improving the internal control system and invoice management system, and helped the company recover part of the uninvoiced payments and confirm the loss of relevant assets.
In the end, through planning, the company successfully reduced its profits by 3 million yuan and saved more than 600,000 yuan in taxes for the boss when transferring equity.
However, since the consultant charged a 25% consulting fee, the company ended up paying about $150,000 in consulting fees.
This upset the boss and placed the blame on the finance department, leading to the firing of the finance staff
。
In view of the tax risks caused by internal control and invoice issues in equity transfer, Yi'er would like to remind everyone to strengthen control from the following three aspects to reduce the occurrence of similar problems:
1. Strengthen invoice review at the contract level
During the contract signing process, we suggest that as a financial or relevant responsible person, we must conduct a strict review from the perspective of taxation and invoices to ensure that the invoice type (VAT special invoice or ordinary invoice) and tax rate provided by the supplier meet the requirements of the contract.
Such strict checks can help to avoid subsequent tax risks caused by invoice problems.
2. Strengthen internal training and enhance the awareness of invoices for all employees
The invoice problem is not only a problem of the financial department, it requires the joint participation and attention of all departments of the enterprise.
It is suggested that as a financial officer or a person with relevant responsibilities, you should regularly provide internal training on invoice and tax knowledge for other departments and management to enhance the awareness of invoice and tax compliance of all employees.
In this way, in daily business, all departments can pay more attention to the acquisition of invoices and jointly maintain the tax compliance of enterprises.
3. Improve the internal control system and clarify the responsibility of invoices
At the level of internal control, Yier believes that the acquisition of invoices should be strictly reviewed in the process of reimbursement, payment, procurement and other processes.
For businesses that fail to obtain invoices in time, the attribution of responsibility should be clarified and the responsibility should be assigned to the individual.
This clear attribution of responsibility helps to improve the importance of invoices and reduce the occurrence of invoiceless expenditure.
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