At the midnight of yesterday, Kang Deyun, the financial executive of Yichang Fonda Industrial Co., Ltd.--- the pilot enterprise of ”the Change from Business Tax to Value-Added Tax”(hereinafter referred to as CBTVAT)--- issued the first construction special invoices for Value-Added Tax (hereinafter referred to as VAT) at the IRS Tax Service Department of Three Gorges Dam. He said that: "If calculated in accordance with the previous business tax, it should charge 5871 yuan tax, but now, it will save 171 yuan."

According to the Three Gorges Rural Commercial Bank, the city\'s first VAT invoice in financial sector was also successfully issued. Thus, throughout the city, “CBTVAT" taxpayers have issued VAT invoices in the field of construction industry, real estate, financial services and consumer services. On behalf of the taxpayer, Local Taxation Bureau has also issued the first ordinary invoice of second-hand housing transactions and real estate leasing, marking the successful pilot work of “CBTVAT“after the full implementation of the tax reform. As of 0:30, the city’s CBTVAT invoices have reached 25, which amount 5.509 million yuan, and the tax were 449,000 yuan.

Since the pilot of "CBTVAT", with the active cooperation of relevant departments,  the local IRS has done a good job in the preparatory works like program development, information collection, centralized training, tax issue and simulation debug, which ensured the steady progress in the preparation for reform pilot. As a result, our city was the first to complete the census register transfer and data confirmation of taxpayers and system upgrade in “CBTVAT” pilot area in Hubei Province, which been fully affirmed by the relevant leaders of the Municipal Government and Provincial IRS. (Reporter Wang Suzhi, Correspondent Wang Weifeng, Yang Kai, Wu Qihua)