Preferential rules for the implementation of the new policy of corporate innovation and taxation

Interpretation of the National Tax Administration No. 87th Wen Ye Yong State Administration of taxation has officially announced "on the implementation of venture capital enterprise income tax Preferential Notice" (IRS issued [2009]87 number, hereinafter referred to as "87th"), clearly defined the legal system to create a tax preferential policy.　　This means that the original 31st ("on the promotion of venture capital Enterprise development related tax policy notice", fiscal and taxation [2007]31) only in a few provinces to implement the situation will be improved, in the new "Enterprise Income Tax Law" under the framework of the investment tax preferential policy will be widely implemented.　　It is understood that the State administration of taxation issued the 87th article, the purpose is to implement the 31st text to promote the development of venture capital enterprises of the tax policy, and implement the "Enterprise income Tax law." Clear support for the company to create the original 31st text issued after the place, in addition to Zhejiang, Jiangsu, Jiangxi, Liaoning and other provinces to implement the venture capital tax preferential policies, the vast majority of provinces and cities did not implement in time.　　The local tax department believes that the state financial and tax departments should be treated according to the newly issued "Enterprise Income Tax Law" to redefine the preferential policy of venture capital, after all, like the "Enterprise income Tax Law" after the release of a Dafa, the specific tax policies usually need to be redefined by the new laws before implementation. From the core content, the 87th text of the clear tax preferential policy and 31st text is consistent: first, the implementation of the tax preferential policy is a venture capital enterprise; second, the tax preferential way is to deduct taxable income amount; The basic condition of the tax preference is that the qualified venture capital enterprises adopt the equity investment way to invest in the unlisted medium and small-sized High-tech enterprises over 2 years; Iv. tax incentives are still in accordance with venture capital enterprises on small and medium-sized High-tech Enterprises investment of 70%, in the ownership of the year 2 years of the year to deduct the venture capital enterprises taxable Income　　When the shortfall is insufficient, the deduction may be carried forward in the subsequent tax year. It is noteworthy that, as the Enterprise Income Tax Act stipulates that "the partnership does not apply this law", according to the corresponding law, the preferential tax policies for venture capital enterprises are not applicable to the partnership enterprises, therefore, the article 87th clearly stipulates that the first condition of the venture capital enterprises applying for taxable income deduction is "the business scope conforms to"　　Interim measures for the management of venture capital enterprises, and the registration of business and industry as ' venture Capital limited liability company ', ' Venture Capital Co., Ltd. ' and other professional corporate venture capital enterprises. More operational, more extensive coverage first of all, the clear operational conditions of article 87th have taken into account the actual development and change of the invested enterprise. On the one hand, the provision of venture capital enterprises to invest in small and medium-sized High-tech Enterprises, in addition to the adoption of High-tech enterprises, should also be consistent with the number of workers not more than 500, annual sales (operating) amount of not more than 200 million yuan, the total assets of not more than 200 million yuan; By the end of 2007, according to the original requirements of High-tech enterprises to obtain the qualifications of small and medium-sized High-tech Enterprises, and in 2008 continue to meet the new High-tech enterprise standards, to its investment full 24 months of calculation,Can be calculated from the time when the venture capital Enterprise actually invests. Moreover, small and medium-sized enterprises in the acceptance of venture capital can not be High-tech enterprises, only in the acceptance of venture investment after the identification of the high-tech enterprise standards, and since it has been identified as High-tech Enterprises in the annual investment over 2 years.　　As for the scale standards of enterprises, as long as the investment is small and medium-sized enterprises on the line, after the investment enterprise size exceeds the standards of SMEs, but still meet the standards of High-tech enterprises, does not affect the venture capital enterprises to enjoy the relevant tax concessions. Second, the 87th text greatly simplifies the process of applying for preferential tax policies for venture capital enterprises. In accordance with article 31st, when a VC enterprise applies for an investment deduction taxable income, the local competent tax authorities shall, after summarizing and approving the application materials of the venture capital Enterprise, report to the competent authorities at different levels of the Record Management department.　　Article 87th requires only "to submit the relevant information to the competent tax authorities (local) for filing before submitting an application for investment deduction for the annual tax returns of taxable income". In addition, it is clear that foreign venture companies are included in the policy. Article 31st does not mention the "Foreign investment venture capital Enterprise management provisions", many market people mistakenly believe that the 31st text did not consider foreign investment venture capital enterprises.　　A few days ago, the article 87th is clearly mentioned in the first article in accordance with the "Foreign investment venture capital Enterprise management Regulations" set up by foreign investment venture capital enterprises. The tax policy orientation of the partnership enterprise the basic attitude of the decision-making in the tax policy is "to promote its development and to prevent the tax loopholes, while the tax regulation should be consistent with the prevention of financial risk". Article 87th expressly excludes partnership ventures. Not only that, the IRS issued last year, 159th text ("On the partnership of partners in the issue of income tax Notice") also focused on the prevention of the Partnership in five aspects of tax evasion behavior: the first is to prevent the partnership itself from becoming a tax avoidance tool, and the other is preventing the partnership enterprise from making the taxable income without any period of loss, Third, to prevent the fact that the general partner in the name of "limited partners" to evade the higher rate of "business income tax", four is to prevent legal persons and other organizations through the partnership to avoid tax, five is to prevent through the relevant partners to avoid tax.　　In short, to take the partnership to create a venture investment enterprises to prevent the holding of tax avoidance. People said that, because the company-type fund itself is the main taxpayer, the implementation of tax deduction for its preferential policies, there will be no tax evasion phenomenon, but also effectively reduce the investor tax. The partnership partnership, which has been used as a non tax subject after drawing on the company mechanism and becoming a business entity or even a legal person, is bound to stimulate various entities that have been established by the company to borrow more and more the name of the partnership. The outbreak of the year before the United States "black stone tax Case Storm" is a cautionary tale.