VAT is an indirect tax. Its name itself answers the question "what is VAT" - it is value added tax. It was introduced to Russia in 1991. Now this tax is not obligatory for everyone, for example, individual entrepreneurs, whose revenue is less than 2 million rubles per year, can be exempted from paying it. Since 2004, the VAT rate is 18%, that is, organizations must pay 18% of the amount of products sold to the budget.
Instructions
Step 1
According to the Tax Code of the Russian Federation, the object of taxation is the sale of goods and the provision of services. To record these transactions in accounting, use accounts 90 "Sales" and 91 "Other income and expenses".
Step 2
Write down in the accounting policy of the organization the moment of transfer of ownership of the shipped products to the buyer, this can be both the time of shipment of goods (provision of services), that is, after signing the accompanying documents, or the receipt of funds to the supplier's account.
Step 3
If you chose the first case, that is, the moment of determining the tax base for value added tax depends on the moment of shipment, then in the accounting records make an entry: D90 "Sales" or 91 "Other expenses and income" K68 "Calculations of taxes and fees" subaccount "VAT".
Step 4
In the second case, that is, upon transfer of ownership after the funds are credited, make the entry for the VAT amount: D90 "Sales" or 91 "Other expenses and income" K76 "Settlements with different debtors and creditors".
Step 5
After the funds from the buyer are credited to your account, make an entry: D76 "Settlements with different debtors and creditors" K68 "Settlements for taxes and fees" subaccount "VAT".
Step 6
If you have carried out repair and construction work on objects that are intended for your own use, reflect this by posting: D19 "Value added tax on acquired values" K68 "Calculations for taxes and fees" subaccount "VAT".
Step 7
If you received an advance payment for buyers, then the VAT amount should be reflected as follows: D50 Cashier 51 Settlement account K62 Settlements with buyers and customers subaccount Advances received; D76 Settlements with various debtors and creditors K68 Settlements on taxes and fees "subaccount" VAT ".
