Tannet Group Limited is a diversified international company set up in Hong Kong in spring 1999. With ten years' development, the group has owned more than 38 holding subsidiaries, 88 equity participants, over 3000 cooperators and more than 20000 direct clients around the world. By 2008, the group has established four business systems and laid the foundation for a sustainable development in the next decade. It is no longer just a supplier of all-dimensional solutions to enterprises, but also an investor in industrial development.
The group has two main fields:
business service and
business investment. Tannet has set up a business service platform, esp.for SMEs, which consists of nine service centres, serving the world of business professionally & reliably, laying a solid foundation for Tannet development in the near future. Also Tannet is seeking win-win cooperation with the cooperators worldwide and welcoming entrepreneurs to join us for mutual benefit.
Suppose that your trading WFOE is now established in Shenzhen. You might will need to apply for the General VAT Payer Status in order to issue VAT invoice. Whether you should apply for general Vat payer status depends on your gross profit rate. VAT invoice is only use at the wholesale chain, between manufacturers and the wholesalers, or between manufacturers.
Retailers selling goods directly to the final consumers don't issue VAT special invoices. Instead, state ordinary invoices inclusive of taxes at 4% to 6% are used. The benefit of issuing VAT license is that you can deduct input VAT from purchases when it pays the out VAT for sales, and get a VAT refund. In order to be qualified to be a general VAT payer. You can start applying for it if your company meet any of following two requirements.
1.You registered capital is over than 5 Million and the number of staff you hire is over 50.
2.Your company's annual turnover is more than 1.8 Million. Your application will be approved If you can provide the sales contract or letter of intent proving that you will reach that target in a year.Besides, you need to satisfy following requirements,
1.Of course you need to apply to the tax bureau or have your consultant apply for you
2.You should maintain a sound accounting system to enable tax officials to ascertain the output VAT and input VAT
3.Tax invoices are properly kept in compliance with regulations.
If you apply for it personally, you should submit following document:
1) A application report clarifying your qualifications for being a general VAT tax payer and the obligation you will fulfill
2)business license issued by the tax bureau
3) relevant contracts, article of association, agreements
4) bank account certification
5) passport or ID card of the legal representative and tax accountant
6) registered capital certification
Contact Us
If you have further queries, don't hesitate to contact Tannet anytime, anywhere by simply visiting Tannet's website
www.tannet-group.net, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143181. or emailing to
mailtannet@21cn.com. You are also welcome to talk with Overseas SME Service Department online by simply joining our MSN:service@tannet.net.
Tannet--A Sound Global Business Solution Partner, Serving the World of Business, Professionally & Reliably
