In feng shui and in general in China, water is considered the primary element, the basis of all life...
The obligation of payers to pay taxes is established by the Constitution of the Russian Federation (Article 57 of the Constitution of the Russian Federation), as well as the Tax Code (clause 1, clause 1, Article 23 of the Tax Code of the Russian Federation). If the payer neglects this obligation and does not pay taxes / fees, then there is a debt on taxes and fees, which the tax authorities, in turn, have the right to collect (clause 9, clause 1, article 31 of the Tax Code of the Russian Federation).
Collection of debts on taxes and fees from organizations and individual entrepreneurs
If the payer has arrears to the budget, the tax authorities make every effort to pay it off. To begin with, a requirement is made to pay tax (Article 69 of the Tax Code of the Russian Federation). If the taxpayer did not respond to the demand of the tax authorities and did not pay the arrears within the time specified in the demand, then taxes will be collected already in a compulsory indisputable manner: first at the expense of Money on the accounts of the payer (Article 46 of the Tax Code of the Russian Federation), and in case of insufficient funds or if the IFTS does not have information about the accounts of the payer - at the expense of the payer's other property (clause 7 of Article 46, Article 47 of the Tax Code of the Russian Federation).
By the way, in order to ensure the execution of the decision of the Federal Tax Service on debt collection, the tax authorities have the right to suspend operations on the accounts of the payer-debtor (clause 1, article 76 of the Tax Code of the Russian Federation).
Settlement of debts on taxes and fees of an individual
An ordinary individual (not an individual entrepreneur), as well as an organization / individual entrepreneur, in the presence of arrears, is required to pay. If an individual ignored it, then the tax authorities have the right to go to court to collect tax debts at the expense of cash and other property of an individual (Article 48 of the Tax Code of the Russian Federation).
Debt on taxes and fees: accounting account
To reflect operations on settlements with budgets for taxes and fees, account 68 “Calculations for taxes and fees” is provided (Order of the Ministry of Finance dated October 31, 2000 No. 94n). Debts on taxes and fees are recorded under credit 68 of the account.
Debt on taxes and fees in the balance sheet
The company's obligations, including those to the budget, are reflected in the liabilities side of the balance sheet. Debts on taxes and fees are shown either in section IV "Long-term liabilities" on line 1450 "Other liabilities" (in case of long-term debt in respect of which the payer was granted an installment/deferred payment, investment tax credit), or in section V "Short-term liabilities" on line 1520 "Accounts payable".
Account 68 in accounting
Paying legally established taxes is the duty of taxpayers (clause 1 clause 1 article 23 of the Tax Code of the Russian Federation). And how is the accrual of certain taxes reflected in accounting? We will talk about this in our consultation.
Account 68 "Calculations on taxes and fees"
Chart of accounts accounting and Instructions for its application (Order of the Ministry of Finance dated October 31, 2000 No. 94n), to summarize information on settlements with the budget for taxes and fees, account 68 “Calculations for taxes and fees” is provided. On the credit of account 68, the accrued or withheld amounts of taxes and fees are reflected in accounting, and on the debit - the amounts actually transferred to the budget or otherwise reducing the debt to it.
Analytical accounting on account 68 "Calculations on taxes and fees" is carried out by type of taxes. This is achieved, as a rule, by opening separate sub-accounts to account 68.
Let's present in the tables the most typical accounting entries for the accrual of taxes or their withholding, as well as the reduction of tax debt to the budget (except for payment). Payment of taxes is reflected, regardless of the type of taxes, as follows:
Debit of account 68 - Credit of accounts 50 "Cashier", 51 "Settlement accounts"
In the event that the table contains several debited accounts, this means that the type of accounting entry depends on the characteristics of specific business transactions, the specifics of the organization's activities and the provisions of its Accounting Policy for accounting purposes.
We will present the entries for taxes and fees in the context of typical federal, regional and local taxes (Articles 13-15 of the Tax Code of the Russian Federation).
federal taxes
| Operation | Account debit | Account credit |
|---|
Also, from 01.01.2017, the federal mandatory payments levied on the basis of the Tax Code of the Russian Federation include insurance premiums(Article 18.1 of the Tax Code of the Russian Federation). To account for insurance premiums, the Chart of Accounts provides for account 69 “Settlements for social insurance and security” (Order of the Ministry of Finance dated October 31, 2000 No. 94n). Accounting entries for wages and taxes on them can be found in our separate materials.
Checking the supplier for tax debt: step by step instructions
Why you need to verify participants
The current legislation in the field of the contract system establishes that the customer is obliged to organize control of all those participants in public procurement who have submitted applications. Moreover, there are quite a lot of requirements and principles of verification.
Note that a complete list of rules is enshrined in Article 31 of Law No. 44-FZ. So, paragraph 5 of Art. 31 states that a participant cannot have a debt to the budget for taxes for the last reporting year of more than 25% of the total value of its balance sheet property.
Accounts payable - debt to the budget
How to pay off budget debts? When assessing the liquidity of any enterprise, it is taken into account whether quick settlements with various government agencies have been made or not. If there are significant debts to the country, then this can become the basis for disagreements with counterparties, it is because of this that the company is able to generate negative profits.
Debt on taxes and fees
Post navigation
Icon in formulas (acronym): APiab Synonyms: Accounts payable - indebtedness against the budget Definition: The item "Debt to the budget" (line 626) reflects the organization's debt to the budget for taxes and fees. If penalties and/or fines are accrued on these taxes and fees, then the amounts of penalties and fines are also included in this article. Location: "debt to the budget (68)" (Section 5 of the Balance Sheet, form No. 1, line code 626). Calculation: APIab = line 626 Note. is part of accounts payable (620).
The amount on line 626 is equal to the balance of accounts 68 and 69 (as part of the unified social tax, if it is accounted for on this account). In this methodology for analyzing financial statements, it is used to calculate such indicators as: current liquidity (20-factor).
Bad debt to the budget
- The credit balance at the end of the reporting period means the presence of debt legal entity on taxes and fees.
- Debit - indicates budget debts to the enterprise (company) or - overpayment of tax payments.
How to pay off debt - correspondence of accounts and transactions For more detailed accounting this account subdivided into sub-accounts for specific taxes. It also takes into account penalties and fines for non-payment. At the same time, there is no difference in whether the organization pays taxes for itself or acts as a tax agent (for example, transfers personal income tax for its employees). Any tax payable is reflected in this account.
debt to the budget
In terms of credit, the account corresponds with the following items:
- 08 - investments in non-current assets (funds);
- 10 - materials;
- 11 - animals that are fattening and rearing;
- 15 - purchase (preparation) of material assets;
- 20 (23) - main (auxiliary) production;
- 26 - expenses for general business needs;
- 29 - service industries;
- 41 - goods;
- 44 - sales expenses;
- 51 (52) - settlement (currency) account;
- 55 - special bank account;
- 70 (75) - settlements with employees for wages(with the founders according to the income paid to them);
- 90 - sales;
- 91 - other income and expenses;
- 98 - future income;
- 99 - profit and loss.
Payment of taxes and fees is reflected in the active-passive account No. 68.
Debt to the budget account
It is impossible to issue a copy of SZV-M to a retiring employee. According to the law on accounting, an employer, upon dismissal of an employee, is obliged to give him copies of personalized reports (in particular, SZV-M and SZV-STAZH). However, these reporting forms are list-based, i.e. contains information about all employees. This means that the transfer of a copy of such a report to one employee is the disclosure of personal data of other employees.
Civil procedural law
A penny debt to the budget: 2500% commission and account blocking
What happened?
In the Altai Territory, the Federal Tax Service appealed to the Federal Service bailiffs with the requirement to recover from the citizen-taxpayer a penalty debt in the amount of one kopeck. In order to pay off this debt, the person had to pay a commission of 25 rubles to the bank, since the bailiffs refused to accept the debt in cash, and the deadline for voluntary payment to the budget was missed.
2500% commission for debt
As representatives of the tax service for the Altai Territory told reporters, the small debt to the budget that this taxpayer has formed is a penalty that has arisen due to late payment of tax. At the same time, according to the law, inspectors of the Federal Tax Service must complete the debt collection procedure before January 1, 2018, regardless of the amount. By the way, it was not necessary to pay a commission until the debt was transferred for compulsory execution. The taxpayer could pay his penny for free in " Personal account taxpayer" on the website of the Federal Tax Service.
However, the citizen himself did not even suspect about his debt of 1 kopeck until the decision of the bailiffs to open enforcement proceedings came to him. The taxpayer decided to close the debt voluntarily, within the five-day period provided for by law, since in the event of a forced collection, the bailiffs would have taken an additional 1,000 rubles of a performance fee from him. He exchanged money, having received the smallest of the coins in use - 50 kopecks, and carried them to the bailiffs. But they did not accept cash, indicating that it was forbidden, and sent the unlucky debtor to the bank. There they took a commission of 25 rubles from him for transferring 1 kopeck to the FSSP account. The photo of the check is attached by the taxpayer.
It is noteworthy that the norms of Article 46 of the Tax Code of the Russian Federation, as well as other articles of the Tax Code, do not fix the minimum amount of tax debt, which serves as a reason for initiating the debt collection procedure by the Federal Tax Service. Thus, the tax authorities can really collect even the smallest amount. And this applies not only to individuals, but also organizations. With all the ensuing consequences.
The loss of 25 rubles in the form of a bank commission for paying off a penny penalty will seem like a trifle when compared with the losses of an organization to which the Federal Tax Service has blocked all account transactions due to a similar amount of debt. Although, according to the norms of Article 70 of the Tax Code of the Russian Federation, the tax authorities must send a request for the transfer of debt to the budget to the payer within 3 months from the moment the arrears are discovered, if the amount of debt is less than 500 rubles, they may not disturb the debtor for a whole year, and then immediately apply all possible measures of influence to him .
There are also some managers who specifically do not pay taxes and fees, thinking that there is no responsibility for this, and most often they hide from the tax authority and the court. Such behavior can lead to the liquidation of the organization and the payment of significant fines.
When compiling a report in the accounting department, the debt on creditors to the budget is shown on the balance sheet liability. The amount of debt testifies to the reliability, it is as a result of this that the company undertakes to continuously carry out its inventory according to the established schedule.
On what account is it shown?
Creditor obligations to the budget consist of payments on tax deductions and fees. In this case, both doubtful debt and current debt, the payment period for which has not yet been designated, can be carried out.
The debt to the budget is reflected on account 68. The value of tax collections transferred and shown in the declaration is shown on its credit. For example, wiring D 99 K 68 means that income tax is remitted, and D 70 K 68 reflects the transfer of personal income tax. The debit of the account indicates the payment of a certain tax from the company's current account.
The loan balance at the end of the reporting period shows the existing debt of the legal entity for tax deductions and fees. The debit balance reflects the obligation transferred to the budget to the company or the transfer of more money on it.
In order to show information that confirms the status of payment of tax deductions and fees, apply 68 account. It reflects the credit of the cost of taxes, which are calculated in the declarations and are intended for transfer. The debit reflects taxes that are transferred to the treasury and the amount of VAT deducted from the account.
The wires can be labeled as follows:
- D 90 K 68 - VAT transfer;
- D 68 K 19 - presentation of VAT for deduction;
- D 68 K 51 - transfer of the cost of the tax to the budgetary authority.
A creditor debt arises when an obligation for money arises. At the same time, certain settlement accounts correspond to various categories of obligations in accounting.
Accounts payable on budget allocations are subject to accounting until the situation of its full payment. If the debt is not repaid, then at the end of the statute of limitations, it should be written off.
Efficient management in the application of credit funds from banking institutions, quick settlements with counterparties and an increased degree of business activity of the organization testify to the favorable dynamics of its development.
The management and recalculation of the amount of debt is regulated by the rules for accounting - PBU, which are the desktop normative documentation of each accountant.
How to pay off budget debts?
When assessing the liquidity of any enterprise, it is taken into account whether quick settlements with various government agencies have been made or not. If there are significant debts to the country, then this can become the basis for disagreements with counterparties, it is because of this that the company is able to generate negative profits.
The state authorities consider the presence of debt as an illegal retention of the country's funds used for the needs of the company, therefore, at various times, the organization may incur losses during the audit by the tax authority.
Debt can be written off in different ways:
- use undistributed profits;
- hold meetings of shareholders at which decisions will be made to refuse to pay dividend payments, for which such money will be directed to improve the condition of the company;
- take credit funds if the firm does not have the financial capacity to liquidate the loan;
- if the operation of the enterprise is not profitable, the best solution would be to declare bankruptcy, for which a manager will be appointed (he will sell the company's property, and the money received will be distributed among each borrower).
The debt to the budget on the creditor for tax payments can be corresponded in debit with the following accounts: 19, 50, 51, 55, 66, 67.
The credit account can be reflected with the following positions: 08, 10, 11, 15, 20, 26, 29, 41, 44, 51, 55, 70, 90, 91, 98, 99.
VAT must be paid when selling products, works, services carried out by the organization, or when selling other property. That is why the main account 68 for VAT is associated with accounts such as 90 and 91, 50, 51 and 52, which will take into account other tax deductions and financial resources.
Debts to public companies are considered significant for any person or organization. They must be repaid quickly, otherwise, it will lead to significant negative consequences. Not only administrative liability, but also criminal liability can be applied. It is because of this that any taxpayer is obliged to responsibly approach settlements with various government agencies.
Conclusion
Being in debt on taxes and fees can cause significant damage. At the most unexpected moment, problems may arise with obtaining credit money that is needed for a new type of activity. Sometimes it happens when, entangled in business or calculations, managers close the company, pay off their debts minimally and create a new company. But this procedure is very complicated and costly, and not every form of ownership organization can easily stop its activities and start a new one.
Debt on taxes and fees is an indicator that characterizes how much a company is obliged to transfer to the state. It may be current or expired. How to correctly reflect it in accounting and reporting, what to do if you do not agree with the data of the tax office on the company's debts, we will tell in our article.
Debts on fiscal payments of the company can be:
- current - arising for reasons that we will discuss below;
- overdue - if the organization really does not transfer fiscal fees in a timely manner.
Accounting rules
To reflect business transactions, the Chart of Accounts is used, approved by Order of the Ministry of Finance of October 31, 2000 No. 94n. The Chart of Accounts provides, in order to take into account debts on taxes and fees, account 68. It is recommended to open sub-accounts for it and provide analytical accounting by types of tax payments. The credit of the account reflects the accrual of tax, and the debit of its payment or reduction due to tax deductions.
Accounting is kept on an accrual basis. Dates of accrual and dates of payment of taxes, as a rule, do not coincide. For example, income tax accrued payable for 2020 will be reflected in the credit of the account, and the organization must transfer it before 03/28/2019. This leads to the fact that on the date of accrual of tax collection on account 69, a credit balance will arise. This is a current debt, it is not overdue.
Reflection in financial statements
Financial statements are formed according to the forms approved by the Order of the Ministry of Finance dated July 2, 2010 No. 66n. Debt on taxes and fees in the balance sheet is reflected in accounts payable in section V:
If the amount of debt to the budget is significant, then the company reflects information about it separately. The level of materiality is determined by the organization in the accounting policy. In this case, an additional line is added to the balance sheet.
How to reconcile data with the IFTS
At least once a year (when conducting an inventory before compiling financial statements) it is necessary to verify the data of the company on tax debts with the data of the Federal Tax Service. We recommend doing this more often. This is not difficult, especially if your organization has an EDI connected with an inspection or a personal account is registered on the official website of the Federal Tax Service.
To confirm the debt, it is necessary to sign reconciliation acts on all fiscal payments with the inspection. This may take some time. For operational verification, it is convenient to use the document "Certificate on the status of settlements". In one form, information about the balance of settlements for all payments is summarized.
Settlement of debts on taxes and fees
If you find that the registers of the Federal Tax Service reflect the wrong balance of calculations, then it must be corrected. After all, the absence of debts on taxes and fees allows the company to receive a loan, participate in tenders, conclude government contracts. And its presence can lead to the refusal of the bank to provide borrowed funds, and buyers and customers - from the conclusion of contracts.
To fix the error, you need to determine the cause of its occurrence. To do this, you can order from the Federal Tax Service an “Statement of budget settlement transactions” for a fiscal fee with an erroneous balance. If the IFTS incorrectly reflected the accrual or did not reflect the transfer of the tax payment, write a statement about the need for correction and attach supporting documents. The application is drawn up in any form and submitted to the inspection in person, by mail or in electronic form via telecommunication channels.
Debt to creditors is the combined amount of obligations (debts) of the enterprise to various legal entities and individuals. Let's figure out which articles form it and how it is recorded in reporting forms.
What is accounts payable on the balance sheet?
The company's creditors are usually the organizations with which it contacts:
- counterparties - suppliers, customers, contractors, lessors, insurers, etc.;
- regulatory bodies, the state budget and off-budget funds.
In connection with the rules of accounting, the staff of the firm periodically becomes a creditor, since the accrued salary is issued the following month. As part of accounts payable, accountable amounts may also appear when the MOL acquires valuables or services for the business needs of the company, exceeding the amount of advances issued.
In addition, this block of obligations includes the amounts of invoices for deliveries on credit or installments due to be received in the future.
Accounts payable: a line in the balance sheet
Which section of the balance sheet shows accounts payable? Like all obligations of the company, it is recorded in the liabilities side of the balance sheet. She is assigned line 1520 in the fifth section of the liability. This line generates data on the debt formed at the end of the reporting period. The maturity of these liabilities is no more than 12 months, so they are classified as short-term.
Long-term accounts payable in the balance sheet occupies a separate fourth section of liabilities, separated from short-term liabilities. This includes the amounts of loans and credits taken by the company for a long period (more than 1 year), estimated, other liabilities.
Unlike debts to creditors, receivables are indicated in the asset balance, since they represent a share of the company's property owned by it, but temporarily located with other enterprises. Subsequently, the debtors' debts are paid in cash or supplies/services (depending on the terms of the contracts).
Let's go back to line 1520. It summarizes the ending credit balances of the accounts:
- sch. 60 “Settlements with suppliers/contractors” for amounts for goods and materials purchased but not yet paid for by the company;
- sch. 62 “Settlements with buyers/customers” for advance payments received against agreed future deliveries;
- sch. 68 "Calculations on taxes / fees" for taxes intended for payment to the budget;
- sch. 69 "Calculations for social insurance and social security" for assessed contributions for payment to funds;
- sch. 70 "Calculations for wages" for the amounts of salaries of employees of the company, calculated for payment;
- sch. 71 "Settlements with accountable persons" for the amounts paid by financially responsible persons for the MCs they acquired as part of the overspending of the advance payment issued;
- sch. 75 "Settlements with the founders" on calculated but not yet paid dividends;
- sch. 76 “Settlements with other debtors/creditors” for other debts. For example, it may include the amount of penalties imposed for violation of the terms of agreements.
In other words, the composition of accounts payable in the balance sheet is very diverse, and combines a whole block of calculations that are typical for any enterprise.
Features of the formation of accounts payable
When drawing up the balance sheet, the accountant is not entitled to reduce the amounts of receivables and payables. Indicate the debt (even if there is a debit and credit balance for one counterparty) should be detailed: in the asset balance - receivable, in liabilities - payable.
All amounts of short-term accounts payable are detailed by type and structure (for example, to suppliers, budget, funds). Such analytical information is indicated in sections 5.3 and 5.4 of the notes to the balance sheet. In them, receivables and payables are detailed, since the balance sheet records only the total amount of debt at the end of the period for all short-term obligations.
How to calculate accounts payable in the balance sheet: an example
According to the accounting registers formed at the end of the reporting year, the closing balances of the accounts are determined:
|
Check |
Balance |
|
|
Total |
||
In the balance sheet line 1520, 378,123 rubles will appear. since the legislation requires detailed indication of the amounts of debts of debtors and obligations to creditors. It is impossible to reduce the amount of accounts payable for the debt of the debtor, therefore the amount of 44620 rubles. will be reflected in line 1230 of the second section of the balance sheet asset.
Thus, accounts payable on the balance sheet – This is the total debt of the company with a maturity of up to 1 year to various creditors.
Attention As representatives of the tax service for the Altai Territory told reporters, a small debt to the budget that this taxpayer has formed is a penalty that has arisen due to late payment of tax. At the same time, according to the law, inspectors of the Federal Tax Service must complete the debt collection procedure before January 1, 2018, regardless of the amount.
Important 
By the way, it was not necessary to pay a commission until the debt was transferred for compulsory execution. The taxpayer could pay his penny for free in the "Personal Account of the Taxpayer" on the website of the Federal Tax Service.
However, the citizen himself did not even suspect about his debt of 1 kopeck until the decision of the bailiffs to open enforcement proceedings came to him. Info The organization has the right to dispose of accounts payable at its own discretion, however, at the time of payment, it is obliged to repay or return that part of the property to which creditors have rights. In other words, accounts payable are defined both as part of the property that is wholly owned by the enterprise with the right to own it, and as the enterprise's debts to its creditors, who are authorized to claim or recover the debt from the specified part of the property.
The amount of money is credited to various accounts by the company on a daily basis. The calculation procedure, tax rates, sources of payment are actually different for all taxes.
They are determined by the relevant Instructions of the State Tax Service of Russia (GNSR). Accounting for settlements with the budget for various types taxes are kept on account 68 “Settlements with the budget”.
In terms of credit, the account corresponds with the following items:
- 08 - investments in non-current assets (funds);
- 10 - materials;
- 11 - animals that are fattening and rearing;
- 15 - purchase (preparation) of material assets;
- 20 (23) - main (auxiliary) production;
- 26 - expenses for general business needs;
- 29 - service industries;
- 41 - goods;
- 44 - sales expenses;
- 51 (52) - settlement (currency) account;
- 55 - special bank account;
- 70 (75) - settlements with employees on wages (with the founders on the income paid to them);
- 90 - sales;
- 91 - other income and expenses;
- 98 - future income;
- 99 - profit and loss.
Payment of taxes and fees is reflected in the active-passive account No. 68.
Credit debt obligations of the enterprise to the budget
Accounting for settlements with the budget for value added tax 1) for the sale of goods (works, services) in the territory Russian Federation, including the sale of pledged items and the transfer of goods (the results of work performed, the provision of services) under an agreement on the provision of compensation or innovation, as well as the transfer of property rights; 2) for the transfer on the territory of the Russian Federation of goods (performance of work, provision of services) for own needs, the costs of which are not deductible (including through depreciation) when calculating corporate income tax; VAT payers budget institutions are only when they entrepreneurial activity. Incoming VAT Account The amount of VAT to be transferred to the budget can be reduced by the amount of tax accepted for offset.
In particular, this should be done if the cash expenditure was previously made by an institution in the status of a recipient of budgetary funds (before the change in type) at the expense of limits on budgetary obligations or budgetary appropriations. Debt to the budget account Location debt to the budget 68 Section 5 of the Balance Sheet, form 1, line code 626. The amount on line 626 is equal to the balance of accounts 68 and 69 in terms of UST.
To account for receivables, accounts are provided in the section Financial assets. State institutions after 01.01.2012 are obliged after payment to the budget of the established ones. 19.3 10 7 Transferred from the current account to pay off debts to the budget 66 51 8 Received finished products from production at the warehouse 43 20 9 Paid off from the current account.
Debt on payments to the budget account
Other creditors" (line 625) shows the debt of the organization for settlements, data on which are not reflected in other items of the "Accounts payable" group. We reflect debts in the balance sheet But the matter does not end with mutual confirmation of the amount of debt. It is important to correctly reflect the debt in the balance sheet. Especially during non-payment period. Accounts receivable is the debt of buyers, customers, borrowers, accountable persons, etc., which the organization plans to receive. In addition, receivables also include the amount of advances given to suppliers and contractors. The basis for the formation of the accounts receivable indicator is a separate reflection of data on long-term and short-term debt. Accounts receivable in budget accounting Require the collection of overdue accounts receivable, possibly within the established limitation period.
To account for it, account 19 is used, which summarizes information on the amount of VAT on purchased valuables, issued by suppliers. This account is very interesting. On the one hand, it can be considered as a receivable, because it is used in settlements with suppliers to allocate the amount of VAT recoverable from the total cost of goods received, accepted works / services.
Line 1520 balance sheet- Accounts payable This line of the form reflects the amount of the company's accounts payable, which was formed as of December 31, 2015. At the same time, debts are entered in line 1520, the maturity of which is equal to or less than 12 months.
If the maturity of the debt exceeds 12 months, then its amount is indicated as part of long-term liabilities in line 1450 “Other liabilities”.
Under this item of expenditure, debts on all types of payments to the budget are reflected (VAT, income tax, property tax, income tax individuals etc.).
For each tax that must be paid to the budget, open a separate subaccount to account 68 “Calculations on taxes and fees”. Reflect the accrual of taxes on the credit of sub-accounts of account 68, and the payment of taxes to the budget or reduction of this obligation for other reasons - on the debit of the corresponding sub-accounts.
To reflect the debt on taxes and fees in the balance sheet, use the credit balance on account 68, not repaid as of the reporting date.
How to calculate income tax
Reflection of income tax in accounting occurs in two stages. The accountant must first calculate the "tax on accounting income" and then adjust it so that the amount of tax reflected in the tax return is obtained.
“Tax on accounting profit (loss)” is called a contingent expense (income) for income tax. It is calculated according to the formula.
The formula for calculating the conditional expense (income) for income tax
At the end of the reporting period, the accountant needs to make a posting:
Debit 99, subaccount “Conditional income tax expense” Credit 68, subaccount “Calculations for income tax”
- accrued contingent income tax expense
Debit 68, subaccount "Calculations for income tax" Credit 99, subaccount "Conditional expense (income) for income tax"
- accrued conditional income for income tax.
In PBU 18/02, the income tax payable to the budget is referred to as the "current income tax". It is reflected in the income tax return. The relationship between the current income tax and the conditional income tax expense (income) is reflected in the formula.
Formula for calculating the current income tax
If at the same time the current income tax turns out to be negative, then it is taken equal to zero.
EXAMPLE 1. HOW TO CALCULATE INCOME TAX
The accounting profit of Aktiv JSC for the fourth quarter of the reporting year amounted to 1,000,000 rubles.
The following happened during the quarter:
Representation expenses exceeded the allowable standard by 4,000 rubles;
Depreciation deductions in accounting amounted to 7,000 rubles, of which only 4,000 rubles. taken into account for tax purposes;
Accrued but not received dividends from equity participation in a foreign company - 8,000 rubles.
How the differences are formed is shown in the table:
Recall: dividends received from foreign organizations are subject to income tax at a rate of 0 or 13% (clause 3 of article 284 of the Tax Code of the Russian Federation). Dividends are recognized as part of non-operating income on the date of receipt of funds to the organization's settlement account. We will assume that the rate of 13% is applied to dividends, and all other income of the "Asset" is taxed at a rate of 20%.
The accountant of "Active" will make the following postings:
Debit 99, subaccount "Conditional income tax expense" Credit 68
- 199 440 rubles. ((1,000,000 rubles - 8,000 rubles) × 20% + + 8,000 rubles × 13%) - a contingent income tax expense has been accrued;
Debit 99, subaccount "Permanent tax liability" Credit 68
- 800 rubles. (4000 rubles × 20%) - a permanent tax liability is reflected (conditional income tax expense is additionally accrued);
Debit 09 Credit 68
- 600 rubles (3,000 rubles × 20%) - a deferred tax asset is reflected (conditional income tax expense is additionally accrued);
Debit 68 Credit 77
- 1040 rubles. (8,000 rubles × 13%) - a deferred tax liability is reflected (a contingent income tax expense is written off).
As a result, the current income tax will amount to 200 thousand rubles. (199 800 = 199 440 + 800 + 600 - 1040).
If your company does not apply PBU 18/02 (which should be reflected in its accounting policy), then the tax is charged on the basis of the income tax return. At the same time, the amount of the current income tax corresponds to the amount of the calculated income tax reflected in the declaration.
EXAMPLE 2. HOW TO RECORD INCOME TAX ON THE BASIS OF THE DECLARATION
In the tax accounting of Passive JSC for 9 months of the reporting year, a loss was reflected, but at the end of the year a profit was formed in the amount of 25,700 rubles. The amount of the calculated tax is reflected in the tax return. Accountant "Passiva" on December 31 made an entry:
Debit 99 Credit 68
- 5140 rubles. (25,700 rubles × 20%) - income tax is reflected on the basis of a tax return.
When transferring tax to the budget, make the following entry:
Debit 68, sub-account "Calculations for income tax" Credit 51
- the amount of income tax paid to the budget.
The operation of calculating the conditional expense (income) for income tax is not reflected in tax accounting.
See also “For which companies will reduce income tax”
How to calculate VAT
VAT payable to the budget is charged for certain business transactions. The moment of accrual is the earliest of the two dates:
- the day when the goods (works, services, property rights) are shipped or transferred to the buyer;
- the day of receipt of payment (including partial) on account of the forthcoming deliveries of goods (works, services, property rights).
The firm may not ship the goods, but transfer ownership of it to the buyer. Such a transfer, according to the Tax Code, is equated with shipment. Thus, after the shipment of the goods or the transfer of ownership of it, you must accrue tax.
To calculate the tax, apply the postings:
Debit 90-3 Credit 68, subaccount “VAT settlements”
- accrued VAT due to be received from buyers for goods sold by them ( finished products, semi-finished products of own production, work performed, services rendered);
- accrued VAT due to be received from buyers for fixed assets sold by them, intangible assets, materials, other property, the sale of which is not a normal activity for the organization;
Debit 91-2 Credit 68, subaccount "VAT settlements"
- accrued VAT due to be received from customers for services rendered, the implementation of which is not a normal activity for the organization (for example, a one-time lease of fixed assets);
Debit 91-2 Credit 68, subaccount "VAT settlements"
- VAT is charged on the transfer of property rights;
Debit 19 Credit 68, subaccount “VAT settlements”
- accrued VAT during construction using a household method, when importing goods, when restoring VAT at the time of transfer of property to the authorized capital of another company;
Debit 76 Credit 68, sub-account “VAT settlements”
- VAT is charged upon receipt of an advance (prepayment) from the buyer or customer;
Debit 60 (76) Credit 68, subaccount “VAT settlements”
- withheld by the VAT tax agent from the seller's income.
Read also "VAT from 2018"
How to calculate other taxes and fees
Excises, like VAT, are charged on the debit of account 90 "Sales":
Debit 90-4 Credit 68, sub-account "Calculations on excises"
- Excise duty charged.
A number of taxes are charged on the debit of account 91 “Other income and expenses”. These taxes include:
a) property tax:
Debit 91-2 Credit 68, sub-account "Calculations on property tax"
- the property tax is charged;
b) state duty for participation in court proceedings, registration or notarial acts:
Debit 91-2 Credit 68, subaccount "Calculations on state duty"
- the state duty has been charged;
c) transport tax:
Debit 91 Credit 68, subaccount "Transport tax settlements"
- the transport tax is charged;
d) land tax:
Debit 91 Credit 68, sub-account "Calculations on land tax"
- land tax.
The choice in favor of account 91 is explained by the fact that the above taxes are charged regardless of the conduct of ordinary activities.
The amounts of the sales tax paid (payable) by the organization form its expenses for ordinary activities, which, in particular, include expenses related to the sale of goods (letter of the Ministry of Finance of Russia dated July 24, 2015 No. 07-01-06 / 42799 ):
Debit 44 Credit 68, sub-account "Calculations on the trading fee"
- Sales tax charged.
"Resource" taxes and fees are charged on the debit of the accounts of accounting for production costs:
a) mineral extraction tax:
Debit 20 (23, 25, 29) Credit 68, sub-account “Calculations for mineral extraction tax”
- the tax on extraction of minerals is charged;
b) fee for the use of objects of aquatic biological resources:
Debit 20 (23, 25, 29) Credit 68, sub-account “Calculations for the fee for the use of objects of aquatic biological resources”
- a fee for the use of objects of aquatic biological resources has been charged.
There are taxes that are related to the financial results of the firm. Such taxes are charged in correspondence with account 99 “Profit and Loss”:
Debit 99 Credit 68, sub-account "Calculations on gambling business tax"
- tax on gambling business;
Debit 99 Credit 68, sub-account "Single tax on imputed income"
-taxed on activities subject to UTII.
note
Pollution charges environment, customs duties do not apply to taxes and fees.
