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Why amend your annual corporate income tax return?
In 2019, in order to implement the Enterprise Income Tax Law, the State Administration of Taxation formulated and issued the "Notice on Printing and Issuing the Annual Enterprise Income Tax Return of the People's Republic of China" (Guo Shui Fa [] No., hereinafter referred to as the original return form). Over the years since the original declaration form was implemented, it has played a positive role in helping taxpayers correctly fulfill their tax obligations, effectively implement corporate income tax policies, and strengthen corporate income tax management. However, as the situation develops and changes, the original declaration form cannot better meet the requirements of all aspects.
First, the original return form cannot reflect the entire corporate income tax policy. Declaration forms are a reflection of tax policies. All tax policies must be reflected in corporate tax returns. Comprehensive and accurate reflection of tax policies is a basic requirement for tax returns. Since the release of the original return in 2017, corporate income tax policies have undergone great changes. Many policies have been adjusted and improved, especially a series of newly introduced tax preferential policies. However, not all of these policies can be clearly listed in the original return, which is not conducive to The tax authorities' grasp of the implementation of tax policies is not conducive to analysis of policy effects, nor can it meet the tax authorities' statistical accounting needs.
Second, the structure of the original declaration form was not scientific and reasonable enough. For example, there is a lack of basic information about the enterprise, the caliber of some income and expense schedules is not uniform, and the logical relationship between the main table and the appendix is not close, etc.
The third is that it cannot meet the needs of streamlining administration and delegating power. The traditional corporate income tax preferential management method is the approval system. To enjoy each tax preferential policy, enterprises need to submit relevant information. As the reform of the administrative approval system continues to intensify, corporate income tax reductions and exemptions will gradually change from pre-approval to post-filing, that is, companies no longer need to submit information applications in advance, and the corporate income tax management method will also change from traditional pre-examination to strengthen after-the-fact filing. Interim and post-regulatory changes. This change requires tax authorities to obtain more tax-related information through tax returns in order to implement preferential policies and prevent tax loopholes. The original declaration form was relatively simple and had a small amount of data, which could not meet the needs.