Value added tax on revenue is an indirect tax that is imposed on the amount of goods or services sold by an enterprise. The calculation of this value is a rather laborious and requiring attention process, therefore in large enterprises this responsibility is assigned to a separate accountant.
It is necessary
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Instructions
Step 1
Find out the VAT rate that applies to the goods sold. Their values are determined by Article 164 of the Tax Code of the Russian Federation and are set at 0%, 10%, 18%. Also, when calculating, the calculated rates are 10/110 and 18/118, which depend on the conditions for receiving the proceeds specified in Articles 154, 155, 161, 162 and 164 of the Tax Code of the Russian Federation.
Step 2
Determine the amount of the tax base of the revenue. Its calculation is carried out in accordance with the recommendations of Art. 154 of the Tax Code of the Russian Federation. The amount of taxable revenue is equal to the value of the goods, work or service sold, taking into account the established excise taxes. The calculation of the tax base for VAT is carried out on the date of shipment of goods, provision of services or performance of work, confirmed by the relevant act. The date of actual receipt of funds to the current account or to the cash desk of the enterprise can also be used as a payment or an advance payment. The general rules for determining the date of VAT accrual are defined in clause 1 of article 167 of the Tax Code of the Russian Federation.
Step 3
Recalculate the revenue in case of payment in foreign currency to determine VAT. To do this, it is necessary to transfer the amount into the ruble equivalent at the rate of the National Bank of the Russian Federation, which was established on the date of tax calculation.
Step 4
Calculate VAT-related revenue for each group of goods sold that are subject to different tax rates. To do this, the tax base must be multiplied by the corresponding VAT rate. Issue an invoice to the buyer or customer for payment for goods, work or services, indicating the calculated VAT, so that the counterparty enterprise can accept these amounts for deduction.
Step 5
Calculate the total value added tax and deduct tax deductions from it. Pay the received amount to the budget. At the end of each tax period, file a tax return showing these calculations.
