Research On Tax Planning Of XH Pharmaceutical Company Under The Two-invoice System

Pharmaceutical enterprises use false invoices to evade tax is a long-standing problem.In recent years,the pharmaceutical industry has been included in the annual mandatory inspection industry by the State Administration of Taxation,provinces and cities have also issued a variety of regulatory policies.The two-invoice system of medical reform was put forward in 2017,which made it no longer feasible for pharmaceutical industry to avoid the tax by passing tickets.In addition,the implementation of the two-invoice system also caused a sudden increase in accounts receivable and sales expense for enterprises which have changed their sales mode.Effective tax planning is beneficial for pharmaceutical enterprises to regulate tax payment and improve capital liquidity.Starting from the two-invoice system of medical reform,this thesis clarifies the premise that the supervision of tax revenue in pharmaceutical industry is gradually strict,and enterprises can no longer evade tax.This thesis analyzes the influence of the two-invoice system,the most notable one is the change of sales mode in most of small and medium-sized pharmaceutical enterprises,the financial change after switching the sales mode is the substantial increase in sales expenses and accounts receivable,which will potentially raise the liquidity problem.This thesis analyzes the tax planning in R & D,production,sales and refund of XH pharmaceutical company affected by the two-invoice system.In the aspect of value-added tax,the production of traditional Chinese medicine should purchase its own herbal medicine processing equipment to exploit the deduction policy of input tax.At the same time,changing the promotion mode to reward points and discount coupons saves sales tax in original promotion mode.In view of the sudden increase of receivables,this thesis discusses the effect of changing the way of sale and repayment on saving the advance tax.In the aspect of income tax,due to the long period of depreciation in production,this thesis analyzes how different depreciation methods affect the time value of funds by calculating the present value of depreciation,then analyzes the impact of use two different depreciation methods on tax payment during the depreciation period of equipment,under the premise of obtaining permission from the tax authorities.After the change of the company's sales mode,it isnecessary to grasp the opportunity of the government's policy support,XH pharmaceutical company should establish the sales subsidiary to relieve the pressure of the sudden increase in the sales expenses.In addition,handing over the annual problem drug handling business to the subsidiary company to exploit the benefits of the tax rate difference.In terms of tax incentives,companies in the health industry can consider employing appropriate disabled workers to complete mechanical operations in order to exploit the tax benefits.By 2021,we should also grasp the tax incentives to exploit the benefits.The exemption from VAT on specific technology transfer brings benefits to the establishment of a R & D subsidiary.Finally,this thesis analyzes the planning of other taxes,and strengthens the tax management of the company.Tax risk exists objectively and tax planning is a systematic work.Therefore,this thesis uses the fuzzy comprehensive evaluation method to evaluate the tax risk level.It also calculates the possible loss amount of XH pharmaceutical company,and designs the risk control scheme.This thesis hopes to help the company in a practical way by solving the existing problems.