The rules in accordance with which the accounting of income and expenses for tax purposes and the preparation of financial statements are carried out have a number of differences. In this regard, the amounts reflected in some documents do not coincide with the indicators of others. Accordingly, reporting is often difficult.
PBU 18/02
This provision was introduced to reflect differences in tax amounts in the financial statements. PBU differentiates indicators on permanent and temporary. The former include income / expenses, which are reflected in accounting, but are never taken into account in the tax base. They can also be taken into account when determining the latter, but are not subject to fixation in the accounting documentation. Temporary are called incomes / expenses, which are shown in the statements in one period, and for the purposes of taxation are taken in another time period. Due to these differences, a deferred tax liability appears. This PBU also provides for a certain procedure for recording deductions from profits. The notional expense / income is equal to the product of the payment rate to the budget and accounting profit. The adjustment of this indicator is affected by deferred tax assets and deferred tax liabilities, as well as permanent differences. As a result, the amount that is reflected in the declaration is determined.
Terminology
Deferred tax liability is that part of the deduction to the budget, which in the next period should lead to an increase in the amount of payment. For brevity, the abbreviation ITO is used in practice. A deferred tax liability is a temporary difference arising if the income in the financial statements before tax is greater than in the declaration. To determine the indicator, the formula is used:
IT = profit deduction rate x time difference.
Deferred tax liabilities: account
The accounting documentation provides for a special article, which reflects IT. This is a count. 77. Deferred tax liabilities for the balance sheet are shown on page 1420. In the statement of losses / profits, this amount is reflected in line 2430.
SHE
If the deductible difference is multiplied by the deduction rate, you get the amount already paid to the budget, but to be credited in the coming period. This value is called a deferred asset. SHE - a positive difference between the current, actual deduction and contingent expense for the amount calculated from the profit. It is written off with a count. 09. If depreciation is provided for in a future cycle, then in accounting it is not charged on fixed assets, but in tax it is calculated.
Temporary difference (IT)
It is determined similarly to the method described for SHE. However, this quantity has the opposite sign. Deferred tax liability is the amount that leads to an increase in payments to the budget in future periods. These deductions will need to be paid subsequently.
Specificity
Deferred tax liabilities are accounted for in the period in which the corresponding differences arise. To better understand the essence, you can take VAT on profits when determining when the amounts to be deducted to the budget in the forthcoming cycle appear. As a future deduction of VAT, it is reflected in the account. 76. The same is recorded by IT, only under Article 77.
Adjustments
In the process of reducing or completely eliminating temporary differences, the deferred liability will also decrease. In article analytics, information will be adjusted. Upon disposal of the asset or liability object for which accruals were made, these amounts will not affect the amount of deductions in future periods. In such cases, it is written off. Deferred liabilities are recognized in the profit and loss account. They are shown in the debit of the account. 99. Moreover, cf. 77 is credited. In the reporting period, in the process of determining the indicator for p. 2420, the repaid amount and the indicator of the newly arising IT are entered. When filling in lines 2430, 2450, the debit-credit rule should be used. By count 09 and 77 deduct the expenditure from the revenue turnover, then determine the sign of the result. In reporting, the corresponding lines indicate a positive or negative value (in parentheses). When IT changes upward, deduction from profits will decrease. And, conversely, when it decreases, the payment will increase.
Current deduction from profit
It consists of the amount actually paid to the budget within the reporting period. This value is calculated based on the size of the conditional income / expense, as well as its adjustments for the indicators used in the formation of IT, IT and constant payments. For calculations, thus, apply the formula:
TH = UR (UD) + PNO - PNA + IT - IT.
The calculation model is defined in PBU 18/02, in paragraph 21. You can verify the correctness of the calculation using an alternative formula:
= taxable profit for the reporting period x rate of deductions to the budget.
If the organization does not make regular tax payments, then the absolute difference between the notional amount calculated from profit and the current one will be equal to IT - IT. This indicator will affect the amount of actual deductions.
Deferred tax liability: postings
In accordance with the structure of statements on losses and profits, the equation PE = BP + - - is used to determine net income, in which:
- BP - accounting profit;
- TNP - current tax.
In this formula, IT and IT are used, which are reflected in the balance sheet for:
- DB cf 09 cd 68;
- Db sc 68 cd 09;
- Db sc 68 cd 77;
- Db sc 77 cd 68.
They affect the amount of deductions from profits. However, these items do not apply to net income. To reflect the method of calculating the actual deduction from profits and at the same time generate information about income for distribution, 2 positions can be shown. They are, in fact, deferred tax liabilities and assets that have affected the account. 99 and 68. At the same time, IT is allowed to be entered on a free line or in an explanatory note.
Practical use
How do deferred tax liabilities show? An example is this. Suppose an organization has acquired a computer program. Software cost - 8 thousand rubles At the same time, the developers limited the period of use of the program. In this regard, the director of the enterprise ordered to write off the costs of acquiring software for two years. In the financial documentation, the amount is included in deferred expenses. It is allowed in the tax accounting to write off the cost of the program at a time in expenses. As a result, a temporary difference appeared. The conditional payment from profit will be higher than the current one by the amount of IT: 8000 x deduction rate. In financial documentation, this will be reflected as follows:
- Dt. 99 cd 68 (09) - conditional payment;
- Dt. 68 (09) Cd. 77 - IT.
In this case, the item that reflects the amount of upcoming payments appears as a passive balance sheet. It accumulates tax amounts subject to surcharge in future periods. Write-off IT is made in the upcoming cycles. In this example, a computer program dropped out of tax reporting. Accordingly, it in no way affects the costs of the enterprise. In accounting, on the contrary, write-offs apply only to a certain part of the program, which falls on the current financial period. Information is reflected in the following way:
- Dt. 20 cd 97 - part of the cost of a computer program (not including VAT);
- Dt. 19/04 Cd. 97 - the amount of deductions for value added.
In such a situation, the amount of the current payment to the budget will be more than the conditional. Part of the latter should be paid extra. In transactions, a debit turnover is obtained.