According to Article 246 of the Tax Code of the Russian Federation, without exception, all legal entities conducting a certain type of activity and earning profit from this activity are subject to income tax. And therefore, it is important for any legal entity to correctly calculate the current income tax, so that in the future it does not have any disagreements with the tax authorities, and also so that this payment does not cause him bewilderment.
But in order to correctly calculate this tax, it is important to know how to do it correctly, as well as to understand all the nuances and small things. And for this, a little below is a detailed instruction that describes the entire process of calculating the current income tax.
1. First you need to determine the tax base for calculating the amount of tax. And the tax base of any legal entity is the sum of all its income. This amount is calculated as follows: there is a difference between revenue and costs.
The current income tax will be zero (that is, you just don’t have to pay anything) only if a negative result is obtained when adding up the sums of all incomes. Since it turned out like this, it means that the income was negative, the legal entity incurred losses. It turns out, and there is nothing to tax.
2. The result obtained in the first paragraph must be multiplied with the current income tax rate - at present, this rate is determined by the state as 20% of the tax base. But for some preferential categories of legal entities, it can be slightly reduced. You can derive the formula: Profit = Gross income * Tax rate / 100.
To understand this, it is better to understand an example. Here, for example, a legal entity for the current tax period made a profit equal to 1,500,000 rubles. This means that the current income tax for this enterprise will amount to exactly 300,000 rubles.
3. Payment of income tax is made only once a year (calendar). And the reporting periods are always equated with one quarter, nine months and six months. If the taxpayer (i.e. the legal entity in this case) accepts advance payments once a month, then in each of these months he must prepare a tax report.
4. Based on the calculations made in all the previous paragraphs, a tax return is prepared, according to which the tax must be paid until March 28 inclusive (this is the tax for the year) and within four weeks after the tax period ends.
When calculating the sum of all the income of the enterprise, it should be remembered that, according to the law, it is considered to be income received as a result of participation of third-party, various operations with securities, the activities of an ordinary partnership, assignment of the right to claim trust management, transfer of property to the organization, activities when using household assets. The sum of all income derived from such activities represents the gross income of the enterprise.
Corporate income tax in this sense is no exception and is calculated in the same way, without any differences and features. The corporation is also a legal entity.
But it happens that a mistake is made in the tax return. It is not so important who made it, whether the current income tax or other data were incorrectly indicated - the tax inspectorate will not understand the internal problems of firms. You just need to correct the mistake as soon as possible. So what to do to avoid a fine?
1. To identify an error in the initial report, due to which an error was made.
2. Fill in the updated reports and send it before the end of the deadline for submission of the declaration.
3. Adjust the tax base.
If all the time has passed, then you need to transfer the missing amount before submitting a clarification letter. If you do just that, you can count on leniency - more precisely, you will get an advantage by law.