1. What is the VAT rate of the transferred assets?
The tax rate for the sale of fixed assets is 2% less value-added tax.
If an enterprise sells used motor vehicles, yachts and motorcycles for which consumption tax is levied, and the price exceeds the original value, the value-added tax will be levied by half, and the tax rate will be 4%; If the selling price does not exceed the original value, the value-added tax shall be exempted.
Enterprises selling other fixed assets belonging to goods that meet the following three conditions (except yachts, motorcycles and automobiles subject to consumption tax) are exempt from value-added tax; Goods listed in the catalogue of fixed assets of enterprises; Goods managed and actually used by enterprises according to fixed assets; A commodity whose selling price does not exceed its original value.
In addition to the above two situations, enterprises selling other second-hand fixed assets (including second-hand business units selling second-hand goods and taxpayers selling taxable fixed assets for their own use), whether it is a general VAT taxpayer or a small-scale taxpayer, or whether it is approved as a pilot unit for second-hand goods adjustment, are subject to VAT at the rate of 4%, and the input tax cannot be deducted.
2. Which items are exempt from VAT?
The following items are exempt from value-added tax:
(1) Self-produced agricultural products sold by agricultural producers;
(2) Contraceptive drugs and devices;
(3) old books;
(4) Imported instruments and equipment directly used for scientific research, scientific experiments and teaching;
(5) Imported materials and equipment provided free of charge by foreign governments and international organizations;
(6) Processing, assembling and compensating imported equipment for trade;
(seven) articles for the disabled directly imported by organizations for the disabled;
(8) selling articles for personal use. In addition to the above provisions, the items of VAT reduction and exemption shall be stipulated by the State Council. No region or department may stipulate tax exemption or reduction items. If a taxpayer concurrently engages in tax reduction or exemption projects, it shall separately account for the sales of tax reduction or exemption projects; If the sales volume is not accounted for separately, no tax reduction or exemption shall be allowed. Taxpayers whose sales have not reached the VAT threshold stipulated by the Ministry of Finance shall be exempted from VAT.
Not all projects are subject to VAT. In some cases, the value-added tax of the project is not levied. For example, agricultural producers sell their own agricultural products or sell used books.