A Study On The Tax Planning Of A Commercial Bank's Value-Added Tax

The financial industry is the core force of economic development,and the commercial banks is an important part in the financial system.The development of commercial banks plays a vital role in the development of the financial industry and the whole national economy.In recent years,because of the pressure of domestic economic downturn as well as the pressure of its internal operating conditions,commercial banks now face the options of restructuring business,strengthening internal management,lowering the costs and risk of operating.On March 2016,Ministry of Finance and the State Administration of Taxation jointly issued the "the pilot notice of full implement of changing business tax to the value-added tax",and decided to fully implementing it from 1 May.For the commercial banks that are facing the internal and external problems,how to deal with such a major tax reform:the reform of changing business tax to value-added tax,is a major problems that needs to be solved urgently.For the reform of changing business tax into value-added tax,commercial banks are mostly concerned about the two issues.One is the increase in taxes after the change,and the second is the trend of the value-added tax policy and the key points for further improvement.This article will use the form of case studies to analyzes the problem of how commercial banks should respond to the policy changes.In this paper,the specific situation of A commercial banks is used as an example.After respectively estimated the amount of tax before and after the policy,the results shows that if the commercial banks do not carry out tax planning,the tax will increase,and if there is tax planning,the tax burden will be lower.Whether there is an increase in tax revenue depends mainly on the specific business composition of commercial banks and the deductions of VAT input tax.The tax planning scheme of this paper is mainly based on the specific operation of A commercial bank and the latest value-added tax policy to make the corresponding business structure adjustment,so that this business adjustment is consistent with the orientation of value-added tax policy,but also is in line with the future development of commercial banks.At the same time,this paper will acquire the maximum value of VAT input tax to directly reduce the value-added tax burden according to the specific condition of commercial banks.In addition,due to the condition that the current N.36 and subsequent supplementary documents still have many imperfections and have been considered a transitional policy,and the initial implementation of China's financial industry value-added tax policy is still in the adjustment period and need to constantly improve,it is necessary to carry out the predictive analysis of the key points of the policy and corresponding value-added tax strategy for A commercial bank.This paper analyzes the main features of the four models,such as the EU model,the Australian-Singapore model,the New Zealand model and the Norwegian model,and finds out the international rule on the policy design of value-added tax,which has an important reference for China's financial industry value-added tax policy design.Finally,according to the above international experience and the specific situation of China,the paper puts forward the key points of further improvement of China's banking value-added tax policy,the policy points that need to be perfected for next reforms,and the forward-looking strategy of value-added tax Planning that A commercial banks should make.