Determining the value added tax is a rather difficult process, so many large organizations hire a separate accountant specifically for this purpose. VAT is a tax that is payable by an enterprise to the country's budget on the amount of value added.
It is necessary
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Instructions
Step 1
Determine the value of the value added tax rate, which is established in accordance with article 164 of the Tax Code of the Russian Federation. Today, there are three main rates for VAT - 0%, 10% and 18%, as well as two calculated ones - 10/110 and 18/118.
Step 2
Calculate the size of the tax base, which is determined in accordance with article 154 of the Tax Code of the Russian Federation. It is equal to the value of the goods, services or works sold based on the selling prices when accounting for excise taxes. The date for calculating the tax base for VAT is determined in accordance with paragraph 1 of Art. 167 of the Tax Code of the Russian Federation. This can be the day the goods are shipped, work is performed, or services are rendered, or the date on which payment or advance payment is actually received against future shipment.
Step 3
Remember to issue an invoice to the customer or purchaser when receiving the advance. If the transaction was carried out in foreign currency, it is necessary to transfer the amount to the ruble equivalent according to the exchange rate of the National Bank of the Russian Federation on the corresponding date.
Step 4
Set the VAT amount for each sold product, service rendered or work performed. This value is determined as the product of the tax base by the VAT rate established for a given type of product.
Step 5
Start calculating VAT to be transferred to the budget. According to article 163 of the Tax Code of the Russian Federation, the tax period for calculating VAT is the quarter during which the amount of the accrued tax was to be recorded in the sales ledger of the enterprise. From this value, you must deduct the amount of tax deductions that must be recorded in the purchase book of the company. The resulting difference is a value added tax that is payable.
