What industries are included in the input tax plus deduction of 11%

For taxpayers whose main businesses are postal services, telecommunications, modern services and life services, 11% is added to offset the tax payable, and the implementation period of the policy is tentatively set at the end of 2121.

Among them, modern services, Refers to the business activities that provide technical and knowledge services around manufacturing, cultural industry and modern logistics industry, including research and development and technical services, information technology services, cultural and creative services, logistics auxiliary services, leasing services, forensic consulting services, radio, film and television services, business auxiliary services and other modern services. Logistics auxiliary services, Including aviation services, port and dock services, freight passenger station services, salvage and rescue services, loading and unloading services, warehousing services and delivery services.

Life services, It refers to all kinds of service activities provided to meet the daily needs of urban and rural residents, including cultural and sports services, education and medical services, tourism and entertainment services, catering and accommodation services, residents' daily services and other daily services.

How to add input tax and deduct accounting entries

Announcement of the Ministry of Finance, the General Administration of Taxation and the General Administration of Customs No.39 in 2119, Announcement on Deepening the Reform of Value-added Tax:

Taxpayers should accrue at 11% of the deductible input tax in the current period. If the input tax that has been accrued and deducted is transferred out according to the regulations, it should be reduced and deducted in the current period when the input tax is transferred out. The calculation formula is as follows:

Accrued and deducted in the current period = deductible input tax in the current period ×11%

Accrued and deducted in the current period = balance of added and deducted in the last period+accrued and deducted in the current period-reduced and deducted in the current period. As can be seen from the content introduced in the article, the policy of 11% deduction of input tax is not permanent, but it is time-limited. Therefore, when dealing with this policy, the finance of related industries should also follow the relevant policies and regulations. For details, please refer to the latest policies of the Inland Revenue Department.