If necessary, reduce the amount of tax payable within the current reporting period, deferred tax assets are used. They are by and large part of deferred tax. The essence of this operation and the importance of these assets in connection with it is that their payment to the treasury does not have to go to the budget at this particular moment, this can be done in subsequent periods. Metric it looks like this: deferred tax assets are a temporary difference, which is multiplied by the value of the tax rate.
In an enterprise or in a company, such assets can only be recognized when these very deductible amounts are formed. In addition, it is necessary that the condition is fulfilled, according to which the possibility of profit in the subsequent period must exist with a high degree of probability. In accounting, deferred tax assets include, without exception, deductible differences. True, in some cases, a situation may arise when the deductible difference cannot be completely reduced or eliminated altogether during subsequent periods.
As noted, an important element of deferred assets is the indicator of the tax rate of an enterprise or company on profit. Its value is established in accordance with the legislation of the Russian Federation. In addition, it also significantly affects the reporting date. Therefore, according to the Tax Code of the Russian Federation, the accounting of deferred tax assets is carried out on a special account, which may be changed in accordance with when the enterprise or company has the deductible differences considered.
In accounting, the deferred tax asset is reflected in account 09, which is created and designed specifically to summarize information about the presence of deferred assets and their transition. Moreover, the rules require that the reflection be carried out in quantities that are determined by the product of the value of the deductible differences by the value of the tax rate.
In the debit of this account, deferred tax assets together with the credit of account 68 (tax calculations) make it possible to show a deferred asset, the value of which naturally increases the amount of the conditional income in a given period. The same pattern appears when determining the amount of expenses. This accounting parameter allows you to reflect either full repayment, or the amount of a partial decrease in deferred assets at the moment in the current reporting period due to a decrease in conditional income in the same period. The same can be said about the reflection of costs.
If in practice the asset item itself is disposed of, then in this case it will be debited from the credit of account 09. But this is possible only if the deferred asset was previously charged to the debit 99 account, which is intended for profit and loss account . In the event that there is a need to make an analytical accounting of assets, then classification types of these assets are taken into account, as well as the nature of those obligations of the enterprise or company that led to the temporary difference. As practice shows, these deductible differences arise:
- when applying various methods of calculating certain indicators, primarily, depreciation and income tax;
- as a result of the use of unequal methods for recognizing business expenses;
- in case of excess tax paid;
- in the case of using different methods of recognition of residual value ;
- in the presence of significant accounts payable.
All these indicators greatly complicate accounting, but when they are taken into account, its very quality improves significantly.