Surely accountants have faced the problem of calculating this or that information for a quarter. Such calculations, for example, are required when calculating advances on profits or to provide information to the tax office for the payment of a single tax on temporary income. But what if you don't know how to count the quarter.
Instructions
Step 1
Multiply the calculated income tax base for the quarter and the income tax rate. You should be aware that every first quarterly payment will be equal to the quarterly advance payment for the fourth quarter of the year preceding the current one. For the second quarter, the quarterly payment will equal the quarterly advance payment for the first quarter. For the third, it is necessary to calculate as the difference between the advance for the second quarter and the first. For the fourth, respectively, as the difference between the quarterly advance payment for the third quarter and the advance for the second.
Step 2
The calculated income tax base for the month should be multiplied by 20% and subsequent advance payments should be calculated accordingly. The advance payment itself directly depends on the monthly profit received. If for any reason in a certain reporting period the company has suffered losses, in this period the advance will be equal to zero.
Step 3
Record your calculations on the appropriate income tax return. Submit the declaration to the tax authorities no later than the deadline specified in the legislation. So, for example, the specified calculation must be provided no later than the 28th of the month that immediately follows the reporting period. The accountant must submit the documents to the tax authorities no later than April 28, July 28 and October 28, that is, at the end of each quarter.
Step 4
Organizations and businesses that are not exempt from paying advance payments of income tax each month for the entire quarter should not calculate advance payments for each month. In this case, the monthly down payment will be equal to the average calculated from the quarterly down payment.
Step 5
If the company wishes to pay advance payments on the actually earned profit, the chief accountant of the company is obliged to notify the tax authorities of this intention. At the same time, according to the above scheme, it will be possible to pay advance payments only from the beginning of the reporting period.
