10 Monthly Tax & Finance Policy Update: VAT Filing Pilot Launched, Corporate Income Tax Prepayments Modified – Save for Your Team
The 10 filing period has arrived, with the declaration deadline extended to 10 on 27. Starting this month, taxpayers in Guangdong and Sichuan will pilot a new VAT return form, while corporate income tax advance payment declarations undergo several adjustments. Additionally, R&D expense super deductions can now be claimed early. Key changes explained in one article below.
1. Value-Added Tax: New Return Forms Piloted in Guangdong and Sichuan
Starting from 2026/10/1, selected value-added tax (VAT) taxpayers in Guangdong (excluding Shenzhen) and Sichuan will begin using the revised "Trial VAT and Surcharges Tax Return Form."
The new table features four major changes:
✅General and small-scale taxpayers share the same tax return form, ensuring a smoother transition when switching statuses.
✅Added the "Business Information Table"; the system can intelligently generate customized declaration interfaces.
✅Added 3 detailed schedules, including "Details of Sales Without Invoices," to the supporting data for more precise output reporting.
✅Main table compressed to 20 columns; redundant columns removed.
⚠️Non-pilot taxpayers continue to use the old forms as per current regulations.
Additionally, from 2026 year 1 month 1 to 2027 year 12 month 31, the VAT threshold for small-scale taxpayers is monthly sales of 10 ten thousand yuan; the per-occurrence VAT threshold for individuals has increased from 500 yuan to 1000 yuan.
II. Corporate Income Tax Installment Payment: Due on 10/27, Three Key Changes
The tax filing period for 10 is extended to 27 of 10. There are three changes in the advance corporate income tax filing:
✅Prepay with Special Equipment Credit:Companies can voluntarily claim tax credits for energy-saving, water-saving, environmental protection, and safe production special equipment during the prepayment stage, without waiting for the annual reconciliation. If not claimed during prepayment, they may still claim it during the annual reconciliation.
✅Clear declaration requirements for exporting enterprises:Sales and production enterprises must report both self-exported and commissioned export revenues as operating income. Agency exporters must report their agency fees and submit the "Summary Table of Entrusted Exports by Agency Exporters," along with details of the actual principals.
✅Optimized declaration form:Added supplementary reporting items such as "Employee Compensation" and "Export Method". The "Prepaid Tax Calculation" section now includes line items for "Selling Expenses", "Other Income", and detailed export-related revenue. A new column, "Income Tax Credit", has been added. Real estate developers must report "Revenue from Sales of Unfinished Products".
III. R&D Expense Super Deduction: Claim Early in 10 Monthly Prepayments
When filing prepayment tax returns in 10, enterprises may voluntarily include R&D expenditures from the first three quarters for super deduction, allowing them to realize tax benefits early. If not selected in 10, they can still claim the unified benefit during the annual income tax reconciliation.
IV. Quick Look at New Policies for 10
✅Central government's first mortgage interest subsidyStarting from 2026 year 10 month 1, new commercial personal housing loans for purchasing a first home with an area of ≤120 sqm and a price of ≤150 ten thousand yuan will receive a government interest subsidy. The subsidy equals an annual rate reduction of 1 percentage points on the loan principal, with a maximum term of 5 years. The maximum subsidized loan amount per household is 100 ten thousand yuan. Multiple banks offer this benefit automatically without requiring an application.
✅National Unified Standards for Discretion in Tax Administrative PenaltiesEffective as of 2026/11/1, covering 9 categories and 66 types of tax violations.
✅Ministry of Finance Signals Mid-to-Long-Term ReformAdvance the shift of consumption tax collection to later stages and its gradual transfer to local governments, and promote reforms to local surtaxes.
The 10 tax filing period ends on 27 of 10.Finance professionals should prioritize verifying: return version, export transaction details, R&D expense allocation, and credits for specialized equipment. Specific procedures are subject to the guidelines of the competent tax authority.
Forward to your finance colleagues!