Consumption tax law amendment

Consumption tax law amendment

Amendment to the consumption tax law was in September 2011. Three parts have been revised roughly divided.

(1) The first consumption tax law revision point, the application requirements of the business tax exemption point system are reviewed.
Application start timing: Applicable from the year or business year starting on or after January 1, 2013.
* The six-month judgment period (“Specific Period”) starts on January 1, 2012.

Until now, as a tax exemption requirement for the consumption tax law, if the annual taxable sales in the reference period is 10 million or less, the consumption tax was not taxed, but due to the amendment, due to the revision, January 1 of the previous year of the taxation period In the case of taxable sales exceeding 10 million yen for six months from the date of the start of the previous business year in the case of the previous fiscal year, it will become a taxable operator during this taxable period. Also, instead of taxable sales, it is also judged by the total amount of salary etc. payment amount.

(2) The second point of the revised consumption tax law is revising the requirements for the purchase tax credit system so-called “95% rule”.
Application start timing: Applicable from the taxation period starting on or after April 1, 2012.

First, the “95% rule” is a strict classification as to whether or not the consumption tax amount relating to taxable purchase etc. during the taxing period corresponds to taxable sales if the taxable sales ratio is 95% or more It is that it is possible to be subject to the purchase tax credit for the whole amount without being required. And this was allowed by all businesses.

Based on this revision of the consumption tax law, we will limit the applicants of “95% rule” to those with taxable sales of less than 500 million yen in the taxable period, while on the other hand the taxable sales exceeded 500 million yen For business operators, even if the taxable sales ratio is 95% or more, it is necessary to calculate the purchase deduction tax amount by either the individual correspondence method or the collective proportional allocation method in calculating the purchase deduction tax amount .

(3) The third point on the Consumption Tax Law is the obligation of attaching the “statement concerning tax return refunds” to the tax return form.
Application start period: Applicable from the tax return filed after April 1, 2012.

Until now, in the case of refund of consumption tax, “detailed statement on taxes on purchase deduction” was requested to be attached to the refund office, but in addition to the stated items, items relating to the assignment and export transactions of taxable assets etc. We must also attach a statement that also describes.

* It is not necessary to attach it to the refund office only with the intermediate payment refund amount.