According to the law, Russian and foreign organizations are required to pay income tax, with some exceptions. Accordingly, every business owner has an obligation to the state to pay income tax. How to calculate the tax amount?
Instructions
Step 1
The object of taxation for income tax is the amount of income received, reduced by the amount of expenses incurred. This is the formula for calculating income tax for Russian companies. Foreign companies pay income tax on the amount of income received through their permanent establishments in Russia, reduced by the amount of expenses. If a foreign organization does not have a permanent establishment in Russia, then it pays income tax on income received from sources in Russia (for example, real estate).
Step 2
Revenues are divided into sales and non-sales. The first includes proceeds from the sale of goods and services, property rights. The second group includes income received from the difference in exchange rates, renting out real estate, etc. Expenses are defined by the Tax Code as "economically justified costs". They must be supported by documents. Expenses, like income, are divided into sales and non-sales, the principle of their division is the same.
Step 3
The concept of depreciable property is important for calculating income tax. This is any property owned by the company by right of ownership, with a period of use more than a year, the value of which exceeds 40,000 rubles and is reduced by depreciation. For example, this is medical equipment. Depreciable assets are allocated to specific groups to calculate depreciation. Each group has its own coefficients established by law. Depreciation is expensed and, accordingly, deducted from income to determine the tax base.
Step 4
The income tax rate is 20%. For some companies, a special, preferential rate may be set. This applies to companies that are residents of the special economic zone of Russia. Foreign organizations that do not have permanent representations in Russia pay income tax at a rate of 10% when carrying out international transportations in the event of the maintenance of vehicles. In all other cases, they are subject to the same rate as for Russian companies - 20%. For certain types of profits, the law sets separate tax rates. For example, for income in the form of dividends, this rate will be 9%.
Step 5
The tax period for income tax is one calendar year. The reporting periods for companies are the first quarter of the year, six months (half a year) and nine months. At the end of each reporting or tax period, the taxpayer must submit a declaration to the tax authorities. The taxpayer calculates the amount of income tax independently.
Step 6
In general, the amount of income tax is the product of taxable profit and tax rate. Taxable profit is, accordingly, equal to the difference between taxable income and taxable expense. If the company incurs losses for the previous tax period, they are also deducted from taxable profit. Let's give an example:
the company's revenue from the sale of goods amounted to 1,000,000 rubles (after deducting value added tax). This is her income.
Expenses: salary for employees - 200,000 rubles, depreciation - 50,000 rubles, funds for the purchase of raw materials for the production of products - 300,000 rubles. Only 550,000 rubles.
Tax base: 1,000,000 - 550,000 = 450,000 rubles.
Income tax amount: 450,000 x 20% = 90,000 rubles.
