Income tax assessment: posting. Tax Assessment: Postings

Income tax is a federal tax that is levied on the income of legal entities on a specific date and in the manner prescribed by law. Moreover, most of it goes to the local or regional budget. Taxation is characterized by similar account assignments when how the calculations are very different. Consider accounting entries, examples of which will be explained in detail in the article.

How much income tax is charged?

The calculation of the tax base occurs at the end of the year, when the company calculates the amount of profit and its components. To determine the amount due to the budget, expenses are calculated from the total income. The end result of the calculations is taxable profit. After multiplying it by the interest rate, the amount of federal tax payable will be determined, and it will be possible to draw up accounting entries (accounts 68, 99).

In the event that, according to the report, the loss outweighed the profit, the tax base is considered zero. To determine its value, use the formula: N _b = D _p + D _int - P - Ub, where:

• N _b - the tax base.
• D _p - income from sales.
• D _VN - non-operating income.
• R - the costs of production, sales and non-operating.
• Ub is the loss of past years.

After determining the tax base, the company needs to accrue income tax (posting Profit and Loss Profit Tax Profit Tax). In this case, a separate calculation of payments to the federal and regional / local budgets is made.

Income tax billing period

Most enterprises “remember” about the obligation to pay interest on their income to the state once a year - after the preparation of the financial statements, then the income tax accounting entries are compiled. In this case, one year is considered a settlement period. The amount of the tax base is determined by the cumulative total from the first day. The reporting period recognizes intervals of 3, 6 and 9 months.

There is another way of paying the state for this type of tax: directly from the profit received for each month. This is an advance payment method "upon". It is convenient for some legal entities, which is not prohibited by law. The reporting period is considered a month, two, three, and so on until the end of the year.

Income tax assessment: posting, rules

Reflection of payment from the organization’s income is regulated by PBU 18/02. The process consists of two successive steps. First you need to determine the accounting profit, and then align the result with the data of tax accounting.

The result of the first calculation is considered a contingent expense or income tax income. The calculation is made according to the formula: U _{p / d} = P _b × C, where:

• U _{r / d} - contingent expense / income;
• P _b - accounting profit;
• - income tax rate (from 10 to 20%).

Accounting profit is determined on the basis of accounting data and is the difference between the confirmed income and expenses of the enterprise for the period under review.

At this stage, the accrual of income tax is indicated: posting Dt “Profit and loss” subaccount. “Contingent expense on income tax” CT “Taxes” subaccount. "Income tax" or Dt "Taxes" subaccount. “Income tax” CT “Profit and loss” subaccount. "Contingent income for income tax."

Comparison of the amount of profit for tax and accounting

In connection with different rules for reflecting business transactions, inconsistencies arise in tax and accounting. After calculating the accounting profit for the reporting period, adjustments should be made to the obtained value U _{r / d} : N _p = N _rev + On _from - N _rev.ot + U _{r / d} , where:

• N _p - income tax (loss) current.
• N _about - tax liability of a permanent nature.
• On - deferred tax asset.
• N _rev.ot - deferred tax liability.

Temporary differences between tax and accounting information form a deferred tax asset or liability. If the profit of an enterprise in accounting registers is greater than in tax, they speak of a deferred tax liability. Its value is equal to the difference multiplied by the tax rate. In the opposite case, a deferred tax asset is formed, which is calculated in a similar way.

A tax liability of a permanent nature is formed due to the occurrence of a constant difference between profit and loss in accounting and tax accounting. They are reflected by posting Profit and Loss Profit Taxes on separate sub-accounts.

Settlement and accrual example

Consider the situation: during the year, the company issued a loan in the amount of 1 million 200 thousand rubles and paid 400 thousand in the form of an initial payment. According to the results of the first quarter, the profit amounted to 2 million 480 thousand and VAT 240 thousand rubles. The total amount of expenses is 750 thousand rubles. The tax loss for the previous period is 80 thousand rubles. Calculate and calculate income tax.

The solution consists of sequential actions:

1. We calculate the tax base: N _b = 2480000 - 240,000 - 750,000 - 80,000 = 1,410,000 rubles.
2. We take for the condition a tax rate of 20% (2% and 18%), the total amount of corporate income tax will be: = 1410000 × 0.2 = 282,000 rubles.
3. Of the withdrawn amount, the federal budget will receive: 1,410,000 × 0.02 = 28,200 rubles, the local / regional budget: 1,410,000 × 0.18 = 253,800 rubles.
4. Profit tax was accrued: posting Profit and Loss Profit Taxes in the amount of 282,000 rubles.

Transfer of income tax to the state budget is accompanied by the entry: Dt “Taxes” Kt “Bank account”.

Basic accounting entries for a monthly payment

A monthly income tax payment can be made by accruing the amount on the actually received income for the last month or quarter. In the second case, the tax amount received is divided into 3 equal parts. In the following example, we consider the situation in which an enterprise pays tax on a quarterly basis. For a better perception, we presented it in the form of a table.

Monthly payment is made by transferring a third of the total tax for the quarter. At the same time, transactions are compiled both for accrual and for payment of each payment.

Other obligatory payments to the budget

In addition to income tax, the company is obliged to transfer other payments, for example, VAT, personal income tax, property tax and transport. To group data on obligations to the state, an active-passive account 68 is used. Accounting entries are made for each type of tax on the corresponding sub-accounts.

The accrual accounts for the accrual of taxes differ depending on their type. If the income tax is attributed to the Profit and Loss account, then the personal income tax is quite logically reflected in the payroll account with staff.

Tax Posting

What is tax? This is an obligation to the state, which is reflected in the liability of the balance sheet. Hence, the accrual of taxes - postings indicating the credit of the account 68. The accounts are debited at the place of occurrence of payment costs.

Consider the basic accounting entries for the calculation and payment of taxes:

• Dt “Main production” Kt “Taxes” - land tax has been accrued.
• Dt "Payroll" Kt "Taxes" - accepted for personal income tax.
• Dt “Settlements with the founders” Kt “Taxes” - dividend tax is charged.
• Dt “Other expenses” Kt “Taxes” - property tax is allocated.
• Dt "Sales" Kt "Taxes" - accepted for VAT.
• Dt “Taxes” CT “Bank account” - tax arrears have been repaid from the current account.

Transfer of amounts to the state budget should be timely. The slightest delay in payment promises the introduction of additional penalties that are not beneficial to the entrepreneur. Calculation of taxes in the interests of a legal entity must be carried out truthfully, lawfully and in a timely manner.