Consideration of the Application and Risk Prevention of VAT Tax Rebate Policy for Construction Enterprises at the End of the Period

The“Announcement on Deepening the Value-Added Tax Reform”clearly outlines the preferential policy regarding incremental retention tax rebates.With the advancement of value-added tax(VAT)reform and the improvement of VAT legislation in China,VAT tax planning for construction enterprises,particularly related to retained tax credits,has become routine.This paper,focusing on the characteristics of construction enterprises,analyzes VAT retained tax credits at the end of the period,the status of tax refunds,practical issues,and related processes,and offers suggestions for policy application and risk prevention.

Building Tresigallo:The City of Edmondo Rossoni(1933-1939)

Between 1933 and 1939 Minister Edmondo Rossoni transformed his hometown,a modest village,into a modern center of industrialized agriculture.Rossoni wanted to experiment a new economic,political,and social model within the Ferrara countryside and,at the same time,aimed to consolidate his power over the territory.The Minster asked the young and trusted engineer Carlo Frighi to give substance to his project.A provincial construction site was quickly transformed into a dynamic workshop that attracts many workers and involves designers and craftsmen from all over Italy.This has emerged from a bibliographic and archival survey that refocused the history of a town that still confronts,through its architecture,its history,and a difficult legacy.

A Part-Refund Model for Airline Overbooking Problem

In this paper, a mathematical model about the optimal booking level problem in airline overbooking rnanageanent is proposed. Firstly, the normal distribution is employed to approximate Poisson requests and binomial goshows. By calculating the mean loss, a model to describe the relationship between booking level and flight revenue is established. Then, an equation is deduced to decide the optimal booking level. Finally, a numerical example is utilized to illustrate the proposed model and discuss the impact of refund rate on the optimal booking level and the mean loss.

Full Refund

Mr and Mrs Jones went to see a film. They couldn't leave their two-year-old son at home alone, so they took him with them. When they walked into the cinema, an attendant said to them, "You'll have to go out if your little son cries, but you can go to the ticket window for full refund."

VAT Neutrality and Corporate Cash Holdings—Based on the Research of Uncredited VAT Refund Policy

This paper regards the uncredited value-added tax(VAT)refund policy promulgated in 2018 as an exogenous shock to improve the neutrality for VAT.Based on the statistics of listed companies in the non-financial sectors from 2013 to 2020,this paper applies the difference-in-differences(DID)approach to study the impact of the uncredited VAT refund policy on corporate cash holdings.The study finds that the policy has eased the impact of non-tax-neutral impact of non-refundable tax credits and lowered the level of corporate cash holdings.Furthermore,the analysis of capital sources verified that the policy has optimized the corporate capital conditions.These findings have proved to be robust after a series of tests.At the level of cross-sectional differences,the uncredited VAT refund policy exerts both"resource effect"and"signal effect",enabling companies to reduce cash holdings in the dimensions of both tax endowment and market expectation.At the level of policy effects,the policy improved the corporate behavior of high cash holdings for the production and operation cycle,with more notable impact on enterprises with higher tax credit rating.At the level of economic consequences,the adjustment of corporate cash holdings induced by uncredited VAT refund policy has significantly improved operating performance and reduced performance volatility,with a greater impact on enterprises with high capital intensity.The research findings evaluate the uncredited VAT refund policy from the perspective of tax neutrality,laying a theoretical foundation for further optimizing the uncredited VAT refund policy and the modern fiscal,tax and financial systems.

Tax Reforms for Better Tax Administration:Georgian Experience

This article sets out to share the experience of the major tax reforms in Georgia,which is eventually recognized worldwide by reputable international organizations,including the International Monetary Fund,the World Bank and others.The article highlights,in particular,three factors that we believe were and remain key to Georgia’s success.These factors are:1.Efficient tax policy;2.Simple administration process;and 3.Proactive communication with taxpayers.

Should Home Buyers Be Refunded If Property Prices Drop?

The developer of Sangtai Danhuafu, a housing project in south China’s Shenzhen City, was caught in the latest property market slump without preparation. Its price dropped from 20,000 yuan ($3,000) per square meterat the end of 2007 to 16,000 yuan ($2,300)

Bank’s repayment obligations under refund guarantees in shipbuilding finance

The refund guarantee is undoubtedly a significant document required in the Shipbuilding projects. Due to the lack of uniform test for identifying the independent guarantee in different jurisdictions,slight differences to the terms of guarantee coupled with the different facts of each case can result in dramatically different rulings as to the nature of the refund guarantee and bank’s obligation for repayment of installments thereunder. It is also noteworthy that different refund guarantee may provide the beneficiary with different coverage. From the comparison among CSTC Form,Shanghai Form and NEWBUILDCON Form,it is suggested that the terms of the contract and refund guarantee of the NEWBUILDCON are more favorable to the buyers and buyers’ banks than the other two forms.

Gingerly Stepping between the Law and Practice:Implications of the Real Rights Law of China 2007 on the Shipbuilding Refund Guarantee

The Real Rights Law of China(2007) is an important step made by China towards the legalization of commercial reality.The statute may have a few far-reaching effects in practice beyond the contemplation of legislators. This article studies the possible implications that the Real Rights Law may have on the search for alternatives to the shipbuilding refund guarantee.The search is essential for the survival and development of Chinese shipbuilding industry, which is struggling in the world’s second position.The study shows that the Real Rights Law may realise the long redundant ship construction mortgage by way of charge of semi-finished industrial products or ’floating assets.’ Moreover,the statute may perfect the title transfer of newbuilding in the ’Taizhou Model’,a popular private financing structure for ship construction in Chinese rural areas.In practice,the ship construction mortgage and ’Taizhou Model’ are the most effective alternatives to the shipbuilding refund guarantee.Of course,whether the possible implications of the Real Rights Law could benefit the practice depends on Chinese administrators’ recognition,comprehension and implementation of the statute,which is yet to be observed.

Changes of Withholding Tax in Poland in 2019-2021:Impact on Foreign Investments

This study focuses on the taxation of foreign investments in Poland in terms of withholding tax.Over the past three years,there have been significant changes in the way they are taxed,as a result of which the relief at source mechanism has been replaced by the pay and refund mechanism.Despite the urgent need to implement this reform,the application of the new mechanism was repeatedly suspended due to its inconvenience for entrepreneurs.Enterprises that are able to obtain all the necessary information from their contractors will be able to benefit more easily from preferential taxation contained in the EU law or in tax treaties on double taxation avoidance(DTT).On the other hand,companies that have a weaker market position may face difficulties in obtaining information from the recipient of the payment,so they de facto will have to credit the recipients of their payments.

Reforming VAT Refund System in Georgia

This article is trying to share experience of Georgia in reforming its VAT refund system by highlighting key elements in the process of the reform as well as demonstrating key features in the operation of profound VAT system.The article also discusses the implication of the reform for economic growth and promotion of cross-border trade and investment.

Couple Wants Refund for Interrupted Vacation Sex

选注者言:在网上读此文后,我曾经问我的挚友:你若参加旅行社外出旅游,在宾馆中夫妻两人正在做爱,服务员一再闯入,尽管你已经在门外挂出“不要打扰”的牌子,你将怎么办?友人答:自认晦气。呜呼,请看德国人如何处置此事!