Taxes are part of our life. We encounter them everywhere: buying things, receiving wages, paying for services. But this is present not only in the lives of ordinary consumers, but also in the lives of producers of goods and services. For companies and organizations, one of the most pressing issues is income tax. This is a direct tax levied on the profits of firms in accordance with the Tax Code of the Russian Federation. How is income tax reflected?
Instructions
Step 1
Reflect all taxes in the financial statements. To do this, the current income tax can be fixed in two ways: on the basis of information data taken from accounting, or on the basis of a tax return aimed at income tax. The latter method is based on clause 22 of the Accounting Regulations PBU 18/20 "accounting for calculations of corporate income tax", which was approved by order of the Ministry of Finance of Russia dated November 19, 2002 No. 144n.
Step 2
Fill in line 150 of the profit and loss statement based on the data from the first step. When using any method of reflection, the indicator in this line must be equal to the amount of tax that is reflected in the tax return. Any discrepancy indicates the presence of errors in the calculations, records and execution of transactions related to the financial activities of the organization.
Step 3
Take accounting profit as a basis. It is not directly related to this tax, since the tax is levied on tax profits. And tax profit is based on accounting. All postings for calculating tax profit include actions on accounting profit.
Step 4
Keep in mind that in order to formalize income tax using accounting, you need to take into account such entries as Debit 99 subaccount "Permanent tax liability" and others. All of these records contain information about profits and taxes on it.
Step 5
Determine the current income tax based on the corporate income tax return (p22 PBU 18/20). With this method, initially it is not the accounting profit that is taken as a basis, but the tax. It is calculated using tax accounting. It is used in the event that information on temporary and fixed costs can be generated on primary accounting documents that are located on accounting accounts.
Step 6
Reflect and record all temporary and permanent differences. Try to fill in the accounting lines and invoices correctly. Conduct all transactions related to the financial activities of the organization. This will help to correctly and quickly reflect all taxes and check their correctness. Keeping both accounting and tax records must be kept constantly.
