营改增对项目融资模式资金成本的影响分析

The Influence of Replacing Business Tax with Value-Added Taxon Project Financing Cost

随着财税[2016]36号文的颁布与实施,营改增工作全面落地,融资租赁和融资性售后回租各归其位,同时超3%即征即退政策的延续,激发融资租赁行业新的活力,最终惠及项目投资者.本文基于36号文,阐述营改增对大型装备建造项目融资模式下资金成本的影响及营改增后资金成本计算办法,为投资者选择项目融资模式提供参考意见.

With the Promulgation and Implementation of Notice of the Ministry of Finance and the State Administration of Taxation on Full Launch of the Pilot Scheme on Levying Value-added Tax in Place of Business Tax （Cai Shui [2016] No.36）, Replacing the business tax with a value-added tax has completed. Under the new policy,financial leasing and sale-lease back are divided and levy VAT according to different tax items and tax rates. This makes influence on calculation method of project financing cost and the choice of project financing model. Based on No.36, this article illustrates the effect of Levying Value-added Tax in Place of Business Tax on project financing model and proposes the calculation method of project financing cost after replacing the business tax with a value-added tax in order to supply some references for investors making a choice for project financing model.