January tax period calendar, and these new business-finance-tax regulations you need to know

collection periodCalendar

3rd-9th

Collection on behalf of the National Film Development Special Fund

1st-15th

File and pay VAT, consumption tax, urban maintenance and construction tax, education surcharge, local education surcharge, cultural undertaking construction fee, individual income tax, enterprise income tax, stamp tax assessed quarterly (annually), resource tax, water resource tax, environmental protection tax, waste electrical and electronic equipment treatment fund, renewable energy development fund, follow-up support fund for large and medium-sized reservoir migrants, national major water conservancy project construction fund, adult college entrance examination enrollment funds, world cultural heritage ticket revenue, lottery public welfare funds, lottery business fees, labor union funds collected on behalf

Within three days after filing:

File and pay land value-added tax quarterly

10th-25th

Employer social insurance premiums

8th-25th

Social insurance fees for flexibly employed persons (individuals)

Remarks: bank batch deduction on January 8, check payment from the 10th to the 25th.

5th-20th

Basic medical insurance premiums for urban and rural residents (individuals)

Remarks: batch deduction on January 15.

January 1 to February 29

2023 Annual Settlement and Payment of the Oil Price Regulation Risk Reserve

January 1 to March 31

2023 Annual Settlement and Payment of the Renewable Energy Development Fund, the Later-Stage Support Fund for Migrants from Large and Medium-Sized Reservoirs, and the National Major Water Conservancy Project Construction Fund

2023 Annual Comprehensive Settlement of Individual Income Tax on Business Income

January 1 to May 31

2023 Annual Corporate Income Tax Settlement and Payment, Declaration and Payment of Tax-Exempt Commodity Franchise Fees

January 1 to December 31

File and pay 2024 vehicle and vessel tax

New Regulations This Month

1. Continue and optimize the vehicle purchase tax reduction and exemption policy for new energy vehicles

To support the development of the new energy vehicle industry and promote automobile consumption, the Ministry of Finance, the State Taxation Administration, and the Ministry of Industry and Information Technology issued the "Announcement on Extending and Optimizing the Vehicle Purchase Tax Reduction and Exemption Policy for New Energy Vehicles" (Ministry of Finance, State Taxation Administration, Ministry of Industry and Information Technology Announcement No. 10 of 2023), exempting new energy vehicles with a purchase date between January 1, 2024 and December 31, 2025 from vehicle purchase tax, with the exemption amount per new energy passenger vehicle not exceeding 30,000 yuan; and halving the vehicle purchase tax for new energy vehicles with a purchase date between January 1, 2026 and December 31, 2027, with the reduction amount per new energy passenger vehicle not exceeding 15,000 yuan.

2. Adjustment of technical requirements for new energy vehicle purchase tax exemption policy

In light of the progress of new energy vehicle technology, the Ministry of Industry and Information Technology, the Ministry of Finance, and the State Taxation Administration issued the "Announcement on Adjusting the Technical Requirements for New Energy Vehicle Products Eligible for Vehicle Purchase Tax Reduction and Exemption" (Announcement No. 32 of 2023 by the Ministry of Industry and Information Technology, the Ministry of Finance, and the State Taxation Administration). Starting January 1, 2024, vehicle models applying to enter the "Catalog of New Energy Vehicle Models Eligible for Vehicle Purchase Tax Reduction and Exemption" must meet the technical requirements for new energy vehicle products.

3. Import and export tariffs on some goods will be adjusted in 2024

Starting January 1, 2024, China will apply interim import tax rates lower than the most-favored-nation rate to 1,010 commodities. First, accelerate the innovation and development of advanced manufacturing, and reduce import tariffs on domestically scarce resources, key equipment and components such as lithium chloride, low-arsenic fluorspar, and gas diffusion layers for fuel cells. Second, safeguard people's lives and health, meet residents' consumption needs with high-quality supply, implement zero tariffs on some anti-cancer drugs, rare disease drugs and raw materials, and reduce import tariffs on food for special medical purposes. Third, reduce import tariffs on sweet corn, coriander, and burdock seeds. In addition, to promote the development of the new materials industry, reduce the export tariff on high-purity aluminum.

Source: Beijing Chaoyang Tax official account

Beijing Kailing Technology Co., Ltd.——an enterprise business-finance-tax digitalization solution service provider.

Kailing Technology provides solutions for sales management systems, procurement management systems, output invoicing systems, input invoice collection systems, imaging management systems, financial posting systems, electronic accounting archives and other businesses according to enterprise needs, professionally and efficiently helping enterprises transform and upgrade their business-finance-tax digital management.

If you have any business-finance-tax digital transformation needs, welcome to contact us. Beijing Kailing Technology will serve you wholeheartedly.