VAT Tax Planning Study Of GF Shipping Corporation

Enterprises have the obligation to pay taxes according to law,but also have the right to reasonable tax planning.In modern society,taxpayer takes more attention to tax preparation which is an important means for taxpayer to reduce costs and improve competitiveness.Tax planning is under the premise of the law and regulations,a series of activities that arranging tax-related matters such as operating activities and investment behavior in advance,to achieve less tax burden and deferred payment,so that maximize corporate profits.Because of the "business tax levy value-added tax" reform in 2012,sales tax included in the VAT chain management.GF Shipping is in the transportation industry,which is in the pilot industries of the reform to replace the business tax with a value-added tax.GF Shipping changed from business tax taxpayers into the VAT general taxpayer.The Changes in tax policy is both challenge and opportunity for GF shipping.And changes in tax policy increase the company's tax planning space.For shipping industry is in downturn,serious excess capacity in the market,GF shipping companies facing more difficult business environment,reducing operating costs is as one of the key management of company.VAT is the company's largest tax,throughout the production and business activities of enterprises.Reasonable VAT tax planning can help companies to reduce cash flow expenses,reduce operating costs.This article firstly introduced GF shipping companies' business,organizational structure,and business processes.Through the analysis of the company's current financial situation,the company's tax policy changes,VAT tax situation to indicate the necessity of VAT tax preparation.From VAT output and VAT input,analyzes the presence status of the company and issue VAT planning space.Then,from both VAT output and VAT input made specific planning measures,including: managing shippers transport demand,change settlement of transport operations,the rate and sales management and business model of transport,disposal of old ships,port charges supplier selection,input tax management of financial leasing of ships,international transportation zero rate selection.Finally,the matter of tax planning process should pay attention to,including close attention to the changes in tax policy,increase quality of tax planning professional,strengthen the training and exchange of financial sector and the business sector,strengthen communication with the tax authorities and cooperation,establishing tax planning performance assessment and incentive system.