Enterprises using the general taxation regime are obliged to pay VAT to the budget in accordance with the established procedure. Despite the clear procedure for calculating value added tax, many accountants face a number of difficulties associated with determining tax deductions.
Instructions
Step 1
Determine the total amount of value added tax that is charged to the company. In this case, the moment of recognition of the tax base for VAT must be in this reporting period. This rule is established by the provisions of Art. 166 of the Tax Code of the Russian Federation. This value is equal to the amount of VAT indicated in the issued invoices for the reporting period.
Step 2
Calculate the amount of tax deductions that the company is entitled to apply in this tax period. They are determined by the provisions of Art. 171 and 172 of the Tax Code of the Russian Federation and are equal to the amount of VAT, which are indicated in the invoices presented to your company for payment of goods or services.
Step 3
Find out if the company has before the budget the amount of VAT subject to recovery. If you have acquired the right to offset VAT, then write a corresponding statement to the tax office indicating the resulting tax overpayment.
Step 4
Calculate the amount of VAT payable to the budget. To do this, fill out a tax return, in which you indicate the total tax amount, the tax refund amount, and the tax deduction amount. Decrease the first value by the second and third and get the desired value of VAT, which must be paid for the current reporting period.
Step 5
Pay VAT to the budget no later than the 20th day of the next month for the reporting period. Otherwise, a penalty fee or penalties will be charged on the tax arrears.
Step 6
Remember that all VAT values that are used in calculating the payment of tax to the budget must be documented by appropriate invoices and entries in the purchase and sales ledger. Otherwise, if you indicate unconfirmed amounts in the tax return, then if an error is detected, the tax inspectorate may decide to conduct an on-site tax audit and impose penalties.
