The value-added tax credit is an economic term, which refers to the value-added tax that is reserved to be deducted in the next period. Value-added tax is divided into output tax and input tax. The value-added tax when purchasing goods is called input tax, and the value-added tax when selling is called output tax. When the tax payable is calculated at the end of the period, when the output tax is greater than the input tax, it is necessary to If the output tax is less than the input tax, no tax will be paid. The undeducted input tax can be deducted in the next period. These taxpayers have not fully deducted the output tax and will continue to deduct it in the next period. The amount of input tax deducted is called "tax retained." The retained value-added tax credit is the amount of value-added tax that cannot be deducted due to the mismatch of value-added tax between input and output due to various reasons during the business operation process. It can be deducted from the output value-added tax when realizing sales in the future. As the pace of value-added tax reform accelerates, the scope of tax refunds will be expanded to the entire industry this year. As long as taxpayers meet the requirements, new tax refunds can be refunded. This marks that my country has initially established an end-of-period institutional tax refund system and has taken a big step in improving the value-added tax system and optimizing the business environment.

1. Conditions for the refund of the VAT credit at the end of the period:

1. Refund of the VAT credit for major integrated circuit projects that meet the conditions.

2. Refund the value-added tax corresponding to the consumption tax in the price of naphtha and fuel oil purchased for the production of ethylene and aromatic chemical products.

3. The excess value-added tax credit for eligible large passenger aircraft and new regional aircraft will be refunded.

2. Notes for taxpayers:

1. Taxpayers are responsible for the authenticity and legality of submitted materials.

2. Document forms can be downloaded from the "Download Center" section of the Shanghai Taxation Bureau website or collected at the tax service hall.

3. If a taxpayer uses an electronic signature that meets the conditions stipulated in the Electronic Signature Law, it has the same legal effect as a handwritten signature or seal.

4. If all the information provided by the taxpayer is a copy, it must be marked "consistent with the original" and signed.

Legal basis:

"Tax Collection and Management Law of the People's Republic of China"

Article 1 is to strengthen tax collection management, standardize tax collection and This law is formulated to ensure national tax revenue, protect the legitimate rights and interests of taxpayers, and promote economic and social development.

Article 2 This Law shall apply to the collection and management of various taxes levied by tax authorities in accordance with the law.

Article 3 The introduction and suspension of tax collection, tax reduction, tax exemption, tax refund, and tax repayment shall be implemented in accordance with the provisions of the law; where the law authorizes the State Council to stipulate it, it shall be implemented in accordance with the provisions of the administrative regulations formulated by the State Council.

No agency, unit or individual may violate the provisions of laws and administrative regulations by arbitrarily making tax levies, suspensions, tax reductions, tax exemptions, tax refunds, tax repayments, and other measures that conflict with tax laws and administrative regulations. Decide.

Article 4: Units and individuals with tax obligations stipulated in laws and administrative regulations are taxpayers.

Laws and administrative regulations stipulate that entities and individuals with the obligation to withhold and pay, collect and remit taxes are withholding agents. Taxpayers and withholding agents must pay taxes, withhold and remit taxes, and collect and remit taxes in accordance with the provisions of laws and administrative regulations.