If you have ever experienced the company cancellation you would know how difficult and expensive it is!
The price would normally starts from 6000 yuan,and the expensive one could be tens thousand or even hundreds thousand yuan,otherwise you could not have the company canceled!
Then someone would say,I could leave it alone and not canceled.Don’t lose your head!Without tax declaration,you would be on the black list!And long time no operation,increasing the administration difficulty of Industrial and Commercial Bureau,your business license would be revoked!
Further Influence
As long as you are the directors,shareholders of the company,you would suffer from the related limitations as follows:
1. Become the Black list of Industrial and Commercial Bureau,and could not hold any post of director,supervisor,or managers of other company;
2. Director could not enjoy the old-age pensioners;
3. Director could not immigrate or buy houses with a bank loan;
4. Could not get the tax registration in State Tax and Local Tax Bureau,any tax involved issues would be announced with enterprise information;
5. Referred to taxes owed,the enterprise director would be prevented from taking planes and high-speed rails,being chased lifelong with the tax payment and overdue fines.
6. Personal credits would be influenced.
Cancellation Procedures
Fine,you may give up and would like to get it canceled,then what you would be faced with is the complicated process and time consumed on trips run and documents required.
Complicated Process
1. Set a record to the Industrial and Commercial Bureau;
2. Publish in the newspaper;
3. Apply cancellation at State Tax Bureau and Local Tax Bureau;
4. Submit cancellation documents to the Industrial and Commercial Bureau;
5. Cancel the Organization Credit Code and the bank account.
Tips: For the whole process, it usually takes about 5 to 7 months,and the branch company would take about 4 to 5 months.If any severe problems arise,it would even take about a year.
Trips run and Documents required
Normally, only State Tax Bureau,you would need to run 5-6 times,Local Tax Bureau 5-6 times,Industrial and Commercial Bureau 3-4 times,and bank 2-3 times.And if you are a new bird not knowing about the procedures,I guess you would consume more times on the trip runs.
In addition,all the accounting books,vouchers,and financial statements would need to be collated and State Tax and Local Tax Statements uploaded.If any financial accounting was not collated before,you would need to get it completed.
Also,Tax Bureau would still check the enterprises on all the tax issues to see if any abnormal tax paid conditions happen or even tax evasion.
Taxation Cancellation Case
It is definitely the most difficult part to get tax affairs written off, as once it get verified,overdue tax paid and fines would be found everywhere.
Let’s check out the following case and see how “expensive” and “difficult” the company cancellation is:
1) You have to pay taxes on the book inventory!
The general taxpayer in Company A,Business Trade Wholesale Enterprise,didn’t want to operate anymore this September,and went to get the company canceled.However,there is still 100 thousands yuan inventory in the accounting book, with the market price(tax not included) of 120 thousands yuan.How should this be handled over the taxation?
If there is still inventory not sold,it would be allocated to shareholders and investors as the return or profit distribution for contribution of capital,treated as sale behavior according to <Implementation Guidelines of Added Value Tax Regulations>.
Therefore, the added value tax you need to pay when company canceled would be 120*17%=20.4 thousand yuan.
2) What happen if the book inventory is more than the actual inventory?
However, what if there is nothing actually in the warehouse when Company A get canceled?That means, some product sales were missed to declare.Once it is discovered by the field visit,the lightest punishment would be treated as sale to handle,or even fines if the amount different is pretty big.
In this case,the sale tax would be 120*17%=20.4 thousand yuan.
3) Profit tax also need to be paid on the inventory!
Besides the added value tax mentioned above,there is still profit tax on the 100 thousand book inventory!
Treated as sales,the market price 120 thousand would be the revenue and the book inventory 100 thousand would be the cost.So Company A would need to pay for the profit tax:(120-100)*25%=5 thousand yuan.
4) What if the inventory turns bad actually?
Company B,a food sales company,had all the food inventory of 1.17 million yuan(including tax) overdue,which definitely means nothing on the accounting book with this 1.17 million amount, while Fapiao(Chinese invoice) is already verified and deducted.
However,according to the Administration Laws of Added Value Taxes,you would still need to pay for the Input tax transferred out due to poor management.
The amount=1170/1.17*17%=170 thousand yuan. Input deduced must transfer out!
5) Personal Tax might be the main character!
If the registration capital (10 million)was borrowed in the name of boss when Company A set up,then you would need to pay for the personal tax on it when it get canceled,according to the Financial Tax[2003]No.158.
And the amount would be 10*20%=2 million yuan.
6) Stamp Tax-the must-checked item when canceling.
Don’t feel like stamp tax administration is pretty at ease at ordinary times,it is a must-checked items when company canceling.
Reminders: It is possible for Local Tax Bureau to verify on stamp taxes of material contracts over the few years after enterprise setup.Paid-up capital,capital reserve,operation accounting,lease contract,purchase and sales contract would be the emphasis on verification.Just be ready!
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