Often, accountants are faced with the problem of reflecting interest on income tax in tax and accounting. This type of costs is specific and cannot be taken into account when calculating taxes. At the same time, it quite seriously affects such a parameter as profit before tax.
Instructions
Step 1
Check out Clause 2 of Article 270 of the Tax Code of the Russian Federation, which states that penalties on income taxes cannot be accepted as expenses that reduce the taxable base and are entered into tax accounting. In accounting, the accrual of penalties is reflected on the credit of account 68 "Calculations of taxes and fees", while the debit depends on the amount of the fine and the accepted rules for filling out reports at the enterprise.
Step 2
Reflect the interest on income tax on the debit of account 99 "Profits and losses". This operation is established by the Instructions for the Application of the Chart of Accounts, which assigns tax sanctions to this account. However, a number of experts believe that this type of expenses should be attributed to penalties for violation of the terms of the contract and charged on the debit of account 91.2 “Other expenses” in accordance with paragraph 11 of PBU 10/99 “Enterprise Expenses”. At the same time, a permanent tax liability is formed in accordance with the rules of PBU 18/02 "Accounting for calculations of income tax".
Step 3
Analyze the profit before tax in the income statement in the form of number 2. This parameter will allow you to determine where it is more profitable to include the interest on income tax. If you used account 99 "Profit and Loss", then this amount will not affect the amount of profit before tax. If the penalties relate to the debit of account 91.2, then they will reduce profit before tax. At the same time, regardless of the account used, the amount of net profit will remain unchanged.
Step 4
Disclose information about the amount of interest with an explanatory note to the income statement. The fact is that if the amount of the fine is significant, then it will significantly affect the profit before tax and, consequently, the financial analysis of the enterprise. This requirement is established by clause 11 of PBU 4/99 "financial statements".
