Income tax is a direct tax charged by organizations of all forms of ownership in accordance with the rules of the Tax Code of the Russian Federation (Article 25) and legislative acts. The current rate for 2011 is 20% of the tax base. The procedure for reflecting tax in accounting is described in PBU 18/02 "Accounting for income tax calculations". Income tax is charged according to the rules of tax accounting, and only the results of such calculations are reflected in accounting.
Instructions
Step 1
Calculate the accounting profit of the enterprise. Calculate the taxable profit of the company - make the necessary amendments to the accounting calculations in the income statement. Calculate contingent income / expenses, temporary differences, deferred tax assets and deferred tax liabilities - all of this data is needed for accounting and the reflection of income tax.
Step 2
On the debit of account 99 of the sub-account "Conditional income / expense" and on the credit of account 68 of the sub-account "Income tax", reflect the data on the conditional income / expenses. To do this, multiply the profit received from accounting by the income tax rate. For example, the accounting profit is 120,000 rubles, the income tax rate is 20%. Then, the accounting entry: Dt 99 - Kt 68 - 24,000 rubles.
Step 3
Reflect the permanent tax liability data. In this posting, you will reflect the differences that arise from the existing differences in the calculation of profit in accounting and tax accounting. For example, in accounting, you have exceeded the standard in expenses by 10,000 rubles. Then the permanent tax liability = 10,000 * 0, 2 = 2,000 rubles.
Step 4
On debit 09 "Deferred tax asset" and on credit 68 of the subaccount "Income tax" reflect those expenses that are accounted for in accounting, but in the tax will be reflected in future periods to reduce the tax base. Example: you accrued depreciation in the accounting period in accounting more than the norms of tax accounting allow, by 7000 rubles. But these expenses will be taken into account by you in subsequent tax periods to reduce taxable profit. Therefore, calculate the deferred tax asset: 7000 * 0, 2 = 1400 p.
Step 5
For debit 68 of the subaccount "Income tax" and for credit 77 "Deferred tax liability" reflect those tax liabilities that you will take into account in tax accounting in future periods to reduce the tax base and to increase the tax. For example, when calculating accounting and tax profit, you have a temporary difference: income is taken into account, but not in tax accounting, it will be taken into account in the future period. Therefore, the amount of such a temporary difference, for example, 15,000 rubles, is multiplied by the tax rate and we get a deferred tax liability: 15,000 * 0, 2 = 3,000 rubles.
Step 6
Generate reports as a result of the above postings. For loan 68 "Calculations of taxes and fees" you will have the result: 24,000 +2000 +1400 - 3000 = 24,400 rubles. - This is a tax that is charged to be paid to the budget. If you had advance payments for income tax, then they should be reflected in the debit of account 68, and reduce the amount payable for income tax. The same will happen if you have a budget receivable to you. The debit of account 99 reflects the amount that must be entered in line 150 of the "Profit and Loss Statement": 24,000 + 2,000 = 26,000 rubles. This is the amount of tax that reduces the net profit of the company / organization, reflected in the "Profit and Loss Statement". In section 1 of the Balance Sheet in the line "Non-current assets" reflect the amount of the deferred tax asset - the total on the debit of account 09. In the example, this is 1400 rubles. And, finally, reflect in section 5 of the liabilities of the balance the total on the loan 77 account - 3000r. On this, the reflection of income tax in accounting can be considered complete.
