Value added tax is a mandatory payment to the budget, which is charged on the amount of the increase in the value of the purchased goods. The process of calculating this value is quite laborious, therefore, in a number of large enterprises, a separate accountant is engaged in this issue.
It is necessary
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Instructions
Step 1
Find out the value added tax rate, which is established by Article 164 of the Tax Code of the Russian Federation for this type of product, work or service. Currently, there are three main VAT rates in the Russian Federation: 18%, 10% and 0%. For the calculation, two rates are accepted, which are equal to 10/110 and 18/118.
Step 2
Determine the amount of the tax base for VAT, which is calculated in accordance with the terms of Article 154 of the Tax Code of the Russian Federation and is determined by the cost of services, works or goods sold, which is accepted for sale, taking into account excise taxes.
Step 3
Set the date for calculating the tax base for VAT. According to clause 1 of article 167 of the Tax Code of the Russian Federation, it can be adopted on the day of shipment of goods, provision of services or performance of work. You can also make a calculation on the day of actual receipt of payment or advance payment against the future shipment of goods.
Step 4
Multiply the cost of goods sold by the appropriate VAT rate for that product.
Step 5
Write out an invoice to the buyer or customer, which indicates the cost of the goods, service or work sold and the amount of VAT accepted for accrual. If the transaction was carried out in foreign currency, then it is necessary to recalculate into the ruble equivalent at the exchange rate of the National Bank of the Russian Federation in effect on the date of the tax base determination. VAT must be charged only on the cost in rubles.
Step 6
Calculate the amount of VAT payable to the budget. According to Article 163 of the Tax Code of the Russian Federation, VAT is paid quarterly and is determined on the basis of entries in the sales and purchases book. Find the amount of VAT that was charged on the goods sold and subtract from it the tax deduction that is determined by the purchased products in the current tax period.
Step 7
Pay the calculated VAT amount to the budget within the time frame established by law. At the end of the tax year, submit a tax return confirming the amounts accrued.
