A company engaged in re-export trade signed relevant contracts and inquired whether stamp duty is required and the charging standard. The best answer states that re-export trade generally requires stamp duty, such as a purchase and sales contract being taxed at three ten-thousandths of the purchase and sales amount. However, execution varies by region, and it is recommended to consult local tax authorities for accurate tax compliance and to avoid tax risks.
How to Calculate Stamp Duty for Offshore Re-export Trade?
Resolved
My company is involved in offshore re-export trade and is not very clear about the calculation of stamp duty in this area. I would like to know, how exactly is stamp duty calculated in offshore re-export trade? Is it based on a certain percentage of the trade amount, or are there other calculation methods? Additionally, when calculating stamp duty, which clauses or amounts in the trade contract will serve as key bases? I hope to receive a professional answer, thank you.
Trade Expert Insights Answers
For offshore re-export trade stamp duty calculation, stamp duty is generally levied based on the amount of purchase and sales contracts. First, identify the taxable document, which is the contract involved in re-export trade. If the contract separately records the purchase and sales amounts, the total of these amounts will be used as the tax basis.
If the contract does not separately record them but includes them within a total amount, that total amount will also be used as the tax basis. The stamp duty rate is usually 0.03%. For example, for an offshore re-export trade contract with an import amount of 3 million RMB and an export amount of 5 million RMB, the stamp duty tax basis would be 3 + 5 = 8 million RMB, and the payable stamp duty = 8 million × 0.03% = 2400 RMB. However, different regions may have subtle differences in specific implementation, so it is recommended to consult the local tax authorities for confirmation.
At the same time, the amount clauses in the contract are key for calculation and must be accurately accounted for.
Remember to check if there are any special agreements in the contract, as they might affect the stamp duty calculation. Generally, it's calculated based on the contract amount, but if there are descriptions of amount changes in the contract, be sure to calculate based on the latest amount.
If re-export trade involves multiple contracts, stamp duty may need to be calculated separately for each contract. Clarify the amount of each contract, then simply calculate it at the 0.03% tax rate.
Sometimes tax authorities may request trade-related documents, such as contracts and goods transfer documents, to help confirm the stamp duty calculation. Prepare them in advance to avoid calculation errors.
If the currency of the trade contract is not RMB, it should be converted to RMB according to the exchange rate stipulated by the tax authorities before calculating stamp duty. Do not directly use the foreign currency amount for calculation.
If the amount of a re-export trade contract is subsequently adjusted, stamp duty should be refunded for overpayment or paid for underpayment. If the amount increases, pay the supplementary tax; if it decreases, apply for a refund of the overpaid portion.
Pay attention to local tax incentive policies; some places may offer reductions or exemptions on stamp duty for offshore re-export trade. If eligible, you could save a considerable amount.
When calculating stamp duty, don't overlook some ancillary fees involved in the contract, such as packaging fees and transportation fees. If included in the contract amount, they must all be accounted for.
If the contract is in electronic form, stamp duty must still be calculated according to regulations. Don't assume that electronic contracts are exempt.
When unsure how to calculate, consult a professional tax advisor; they can provide accurate calculation methods based on your actual business.