Calculate current income tax. Current income tax

Current tax is the amount levied on a businessman or company in the form of income tax for the last accounting period. It is calculated from the amount of taxable profit in full accordance with the rules established by special bodies.
Current income tax –

this is the amount paid on the profit received for the last reporting period.

Accordingly, it must fully correspond to the amount that was accrued as tax based on the results of a correctly completed tax return.
Current tax payments and the tax itself are fully reflected in the “Report on Financial Results” submitted by the organization’s accountant to the tax authorities. Typically, the tax rate is used to explain the difference in profit between the accounting and tax reports.

Types of income tax

Any organization can choose one of two ways to determine the amount of the current income tax, the rate of which is always the same:
based on data obtained as a result of accounting monitoring. In this case, the amount of tax paid must fully correspond to the calculated payment amount, which was reflected in the tax return. Typically, current income tax is calculated based on the amount of the conditional expense for its payment, adjusted based on the requirements of the permanent tax liability, as well as changes in the amount of deferred tax liability in the current reporting period;
based on a tax return based on income tax data. In this case, the amount of the current tax will fully correspond to the amount of the calculated tax reflected in the declaration.

The method for calculating the tax amount after selection must be fixed in the organization’s accounting documentation.

Example of current tax calculation

Let's assume that the company's profit for the last reporting period is about 800 thousand rubles. A conditional tax will be charged on this amount in the amount of: 800 thousand x 20% = 160 thousand.
The company's permanent liabilities amount to 30 thousand rubles, the change in deferred assets is formed in the amount of 12 thousand rubles, and the change in deferred liabilities is 6 thousand rubles.
The amount of current income tax reflected in the declaration in line 2410 will be

160 thousand + 30 thousand + 12 thousand – 6 thousand = 196 thousand rubles.

The basis for the normal functioning of any commercial structure is to achieve the greatest benefit from the sale of goods or services produced, i.e., making a profit. Based on the importance of this indicator for the company, income tax (IIT) also plays a special role. It is calculated and paid by all enterprises using OSNO, guided when calculating the provisions of Chapter 25 of the Tax Code of the Russian Federation, and when reflecting emerging differences between tax and accounting - PBU 18/02 “Accounting for income tax calculations”. Tax calculation taking into account the legislative changes that have occurred is the topic of this publication.

Calculation of income tax in 2018

There have been no changes in the calculation of the income tax compared to previous years - the tax is still 20% of the difference between the total income received by the company and the costs incurred. Current income tax is calculated using the formula:

N pr = NB x C n /100,

where NB is the tax base, and S n is the tax rate.

The tax base (TB) is determined as the difference between income and expenses, reduced by the amount of losses carried over from previous periods (if any):

NB = D – R – U,

where D – income, R – expenses, Y – losses transferred to future periods.

It is necessary to take into account that not all types of income and expenses are included in the calculation of the income tax. Non-taxable income includes prepayment for goods/services (if the company uses the accrual method), loan amounts, funds received when fulfilling obligations under intermediary service agreements, the cost of the participant’s contribution to the authorized capital in the form of property, property and non-property rights and others, a complete list which are given in Art. 251 NK.

The calculation of the income tax does not take into account the costs of paid dividends, the amount of fines and penalties paid to the budget and funds, contributions to the management company of the company and other expenses named in the list of Art. 270 NK.

The tax amount is distributed between budgets:

3% - to the federal budget;

17% - to the regional one.

A similar distribution was established for the period from 2017 to 2020 and extended until 2024 (Law No. 301-FZ dated August 3, 2018). The rate of 20% is the base rate, at which most companies calculate tax. The legislation provides for the use of reduced rates, and also establishes special rates (Article 284 of the Tax Code) for companies engaged in certain types of activities or located in special economic zones that require state support.

Procedure for calculating and paying income tax

The calculation of the income tax begins from the beginning of the tax period, i.e. from the beginning of the calendar year, and is carried out on an accrual basis until its end. If a company has losses incurred over the previous 10 years, it is given the right to reduce the amount of current taxable profit for the year by 50%, and transfer the remainder of the loss to the following years (Article 283 of the Tax Code of the Russian Federation).

Organizations may have different reporting periods. It could be a month, two months, three months, etc. (if monthly advance payments are calculated), or quarter, half year, 9 months. Tax is paid for reporting periods throughout the year in advance payments, and at the end of the year, the amount of the income tax is finally adjusted. The deadline for paying advances on NPT is until the 28th day of the next month, and the tax for the year is until March 28 of the following reporting year.

Calculation of corporate income tax: example

Format LLC, a company specializing in the production of souvenirs, received the following income in 2018:

from sales of products - 8,300,000 rubles;

in the form of interest on investments - 600,000 rubles.

in the form of property received free of charge from the founder, whose contribution is 60% of the authorized capital, in the amount of 2,000,000 rubles.

In addition, the organization took out a loan from a bank in the amount of 800,000 rubles.

The company's costs include:

cost of products sold – RUB 4,200,000;

interest for using the loan – 1,000,000 rubles;

the cost of travel for employees to their place of work above the limit is 40,000 rubles;

payment for notarization of documents in excess of the current tariff – 20,000 rubles.

Tax rate – 20% (basic 3% and 17%).

The loss for 2016 amounted to 600,000 rubles, for 2017 – 400,000 rubles. The company plans to take it into account when calculating the income tax for 2018.

The procedure for calculating corporate income tax in the calculation:

Taxable income includes operating income - RUB 8,300,000. and non-operating – 600,000 rubles. The value of property received free of charge from the founder and the amount of bank loans are not included in the category of taxable income.

The costs taken into account for calculating the NNP include the cost of production of 4,200,000 rubles. and the amount of interest paid for the loan is RUB 1,000,000. Expenses incurred in excess of established limits are not taken into account in the cost structure for tax calculation. It is important to ensure that all costs incurred are supported by reliable documentary evidence.

Profit = 8,00,000 + 600,000 – 4,200,000 – 1,000,000 = 3,700,000 rubles.

The amount of loss from previous years was 1,000,000 rubles. (600,000 + 400,000) does not exceed half of the profit for the current year, so the company has the right to take it into account in full in the calculation.

The tax base was:

NB = 3,700,000 – 1,000,000 = 2,700,000 rub.

Amount of NNP:

to the federal budget = 2,700,000 x 3% = 81,000 rubles;

to regional = 2,700,000 x 17% = 459,000 rubles.

Check the correctness of the calculation by multiplying the base by the total tax rate:

2,700,000 x 20% = 540,000 rub.

Total value of NNP = 540,000 rubles. (81,000 + 459,000). The calculation is correct.

A novice accountant often needs step-by-step and clear instructions for correctly calculating taxes in accordance with the legislation of the Russian Federation. All basic terms, concepts, rules are regulated by the Tax Code of the Russian Federation. One of the most difficult to calculate is income tax. It requires a serious and careful approach, careful study. It is paid by most large organizations in our country.

Definition of tax, what amounts are subject to it?

The term “profit” is the net income of a commercial structure, received both from the main line of activity and from additional sources. That is, it is believed that profit is the net difference between the income and expenses in the activities of the enterprise. Income tax is a so-called direct tax, which is calculated based on the resulting result of commercial activity.

Profit is calculated as the difference between income received and expenses incurred.

Example. The company's revenue from the shipment of goods in the 4th quarter amounted to 8,500,000 rubles. Accounted expenses for the same period are 6,200,000 rubles. The profit received is equal to 8,500,000 - 6,200,000 = 2,300,000 rubles. This amount will be subject to income tax at a rate of 20%. It is necessary to transfer 2,300,000 rubles to the budget *20% = 460,000 rubles.

Most enterprises use the accrual method when generating income and expenses. That is, the event is considered fulfilled when the transaction is completed, and not upon receipt or debit of funds (cash method). The last method of calculation cannot be used by legal entities whose average revenue for the 1st quarter exceeds 1,000,000 rubles (excluding VAT), as well as banks, microfinance organizations and other organizations in accordance with the requirements of current legislation.

From the above, it becomes clear that the calculation base for determining tax is the difference between the amounts of income and expenses. Income is the revenue received by the enterprise for all activities. They must be confirmed by properly executed primary documentation.

What is meant by the income and expenses of an enterprise?

All expenses must also be legal, primary documentation is required. Upon request from the tax service, they are often required to be submitted for verification. Incorrectly completed documentation of an enterprise's expenses will lead to an overstatement of expenses and, therefore, incorrect calculation of income tax. In this case, upon inspection by higher authorities, the legal entity will be issued a fine and a penalty.

Types of income

An important component of profit is the income received from business activities, including:

Sales income is revenue from the main types of work of the organization.
Non-operating income, which is of a variable nature. This includes the sale of property (if this is not the main activity of the enterprise), dividends, interest received, fines, exchange rate differences, property received free of charge, overdue accounts payable and other receipts in accordance with Art. 250 Tax Code of the Russian Federation.

As a rule, taxpayers do not have problems with determining revenue. However, non-operating income is not always given due attention. For example, debts to counterparties that have expired are considered income. Unaccounted amounts underestimate the tax base. During an inspection, regulatory authorities have the right to add the amount of tax.

Types of expenses

The organization's expenses reduce the tax base, thereby saving the company money on paying taxes. Costs must be economically justified and documented. Otherwise, the Federal Tax Service may not accept them and recalculate the tax.

What expenses are included in the calculation of income tax? The list is legally established and includes:

material costs, including the purchase of raw materials and production materials;
labor costs, including other employee benefits, such as bonuses, vacation and sick leave, and others;
expenses for depreciation of property, repair of fixed assets;
development of natural resources;
expenses aimed at the development of natural resources, scientific research;
voluntary and compulsory property insurance;
other costs associated with production or sales and listed in Art. 264 Tax Code of the Russian Federation.

In addition, organizations have the right to take into account a number of non-operating expenses, which may include the following:

expenses for maintaining rented or leased property;
negative exchange rate differences received;
services of credit institutions;
legal costs;
accrued interest payable on debt obligations;
issue of securities;
other reasonable expenses not directly related to core activities.

Who is responsible for payment?

When creating a new organization, founders, accountants and other responsible persons carefully choose the tax regime.

The basic taxation system subsequently applied depends on the type of activity, on the volume, on the number of employees on staff, on the areas allocated for trade, production or storage. There are also a number of other factors that play an important role in choosing a tax regime.

Taxpayers who have obligations to calculate and pay tax in the Russian Federation include:

structures that are on the general taxation system;
enterprises, including foreign divisions, which carry out their main work with the help of representative offices and branches located in Russia;
foreign enterprises for which the source of income is a Russian company;
foreign enterprises that are recognized as residents of the Russian Federation on the basis of an international treaty on taxation issues.

A number of incomes and expenses are not involved in determining the taxable base when calculating income tax. If we are talking about income, then this is the value of property received in the form of a deposit, the amount of VAT, property received free of charge under certain conditions. A more detailed list of such income is contained in Art. 251 Tax Code of the Russian Federation.

Expenses that do not reduce the tax base include:

accrued dividends after tax;
contribution to the authorized capital;
approved contributions for voluntary insurance;
property transferred to commission agents;
property transferred free of charge;
other expenses.

Tax exemption

Legal entities exempt from the obligation to pay this tax are:

Depending on the taxation system applied, profit refers to various objects of income.

Tax payment procedure

The tax is paid to the budget in the form of advance payments both quarterly and monthly. Enterprises whose income did not exceed fifteen million rubles in the four previous quarters have the right to make advance payments for the quarter. In case of excess profit, tax must be paid monthly.

If the organization pays advance payments quarterly, then the amount is calculated on an accrual basis for the required period. For example, to determine the amount of payment for the second quarter, the tax for half a year is calculated, and the amount of payment made in the first quarter is subtracted from it.
The final payment, as well as the submission of the declaration, is made at the end of the year.

What are the income tax rates?

The basic income tax rate is 20%. At the same time, 18% is transferred to the federal budget, 2% to the local budget. For the period 2017–2024, the following ratio applies: 17% to the federal, 3% to the local.

The laws of the constituent entities of the Russian Federation allow a general reduction in the rate to 13.5% or to 12.5% for 2017 - 2024. Reduced rates may apply to residents of a special economic zone and to participants in regional investment projects.

The following categories of legal entities can benefit from a 0% income tax rate:

Educational and medical institutions.
Residents of special economic zones, including tourist and recreational zones.
Manufacturers of agricultural goods.
Fishery organizations.
Organizations providing social services to citizens.
Central Bank of the Russian Federation.
Participants of the Skolkovo project.

The preferential rate is valid for a certain period of time, approved by law in accordance with the provisions of Art. 284 Tax Code of the Russian Federation. Dividends and debt obligations are taxed at rates of 0%, 9%, 13%, 15% depending on the nature of the source of education.

How is current income tax calculated - formula

There are two methods that are used for calculation:

Accrual method. Does not depend on the fact of receipt of funds or payment of expenses. Income and expenses are recognized in the period in which they actually occurred;
Cash method. Income and expenses are calculated based on the actual date of receipt of funds or payment of expenses.

The basic formula for calculating income tax is considered to be the following:

Npr = ((Dr+Dvnr) – (Rr+Rvnr))*Sn, Where

Npr – income tax;

Dr – sales income;

Dvnr – non-operating income;

Рр – sales costs;

Rvnr – non-operating expenses;

Сн – income tax rate.

Example. At the end of the 1st quarter, the company's revenue amounted to 2,985,000 rubles, expenses - 1,696,000 rubles, non-operating expenses - 156,000 rubles. There was also income from the rental of property related to non-sales in the amount of 365,000 rubles. The income tax rate is 20%. Payable for the quarter – ((2,985,000 + 365,000)-(1,696,000+156,000))*20% = 299,600 rubles.

The organization's income allows for quarterly tax payments. With monthly payments, the organization would make a payment every month in the amount of 1/3 of the tax amount for the previous quarter, or 299,600/3 = 99,867 rubles. The final tax for the year is transferred taking into account advance payments. The income tax return is submitted by the 28th day after the reporting quarter. The deadline for filing the annual declaration is March 28 of the following reporting year.

The amount of tax received is subject to transfer in accordance with the rate. The reporting period for submitting documentation for calculating this tax is a year. However, advance calculation and payment of tax is carried out quarterly with an accrual total, i.e. for the first quarter, for half a year, for nine months, for a year. The advance payment is due no later than the 28th day of the month following the reporting period. For example, until April 28, until July 28, until October 28. If this date falls on a weekend, then the payment deadlines are postponed in accordance with the legislation of the Russian Federation.

Calculation of income tax - example

Based on the above, let's try to make the calculation using one more example. A legal entity applying the general taxation system received income for the year from its activities in the amount of 5,000,000 rubles. Expenses incurred in the specified period amounted to 2,800,000 rubles. All expenses are confirmed by primary documentation.

We calculate the tax transferred to the Regional budget.

NP = (5,000,000 - 2,800,000)* 18/100 = 396,000 rubles.

We calculate taxes transferred to the Federal Budget.

NP = (5,000,000 - 2,800,000)* 2/100 = 44,000 rubles.

The total amount that the organization needs to pay is 440 thousand rubles. However, when paying tax at the end of the year, it is necessary to reduce the calculated amount by the amount of advance payments made by the organization in the reporting period.

After reading this article, it will become much easier for accountants at an enterprise to correctly perform the required calculations.

When are “return receipt” checks needed?

When issuing money to customers who returned goods (refused work, services), you need to issue a check with the calculation sign “return of receipt”. But it is not always clear whether a particular situation falls under this rule. We discussed various cases with a Federal Tax Service specialist.

Hospital benefits 2018: what they will be

According to the Ministry of Labor, the maximum amount of sick leave, maternity benefits, and child care benefits next year will be higher than this year.

How will tax officials prove taxpayer abuses?

Since August 19, 2017, a new article of the Tax Code has been in force, which establishes signs of abuse of their rights by taxpayers. If these signs are present, a reduction in the tax base and/or the amount of tax payable may be considered unlawful. The Federal Tax Service has published recommendations on the practical application of this norm.

Non-taxable amounts are also reflected in the DAM

Despite the fact that insurance premiums are not charged on the amounts paid for travel expenses, as well as on compensation for the employee’s use of his personal car for business purposes, these amounts are still reflected in the calculation of contributions.

glavkniga.ru

Profit before tax - formula

The result of the company's economic activities shows profit before tax (the calculation formula is given below). In which report, where exactly and for what period is this amount reflected? What does the financial calculation process consist of? Let's look into the details further.

How is profit before tax determined?

Profit before tax means the cumulative positive result from all areas of activity of a business entity before the payment of profit tax. The meaning of the concept is the excess of income over expenses, that is, the success and profitability of the business, the fulfillment of the goals of creating a company.

The indicator includes not only sales revenue, but also other income, as well as interest receivable on loan obligations. An accurate calculation of profit is required for the subsequent determination of the amount of net profit, fair distribution of income between the participants of the company, calculation of taxes to be transferred to the budget, correct assessment of possible investments, inputs and planning for the expansion of trade/production. For absolutely all organizations - both commercial and government - a formula is used in calculations that calculates profit before tax.

Profit before tax - calculation formula

The inclusion of data on financial results is carried out in Form 2 - Report on the financial results of the company, submitted to Rosstat and the tax authorities according to Order No. 66n dated 07/02/10. This form is filled out as of the end of the reporting year with comparable information for the previous period. Information is taken from synthetic and analytical accounting accounts, namely 90, 91, 99, 44, 68, 66, 67, etc. If an enterprise keeps records of deferred assets and liabilities according to PBU 18/02, accounts 09, 77 are also used.

To determine profit (loss) before tax, the formula is applied according to the line indicators of Form-2:

P (U) before tax on line 2300 = Profit from sales (line 2200) + Income from the activities of other companies (old 2310) + Amounts of interest receivable (line 2320) – Amounts of interest payable (line 2330) + Other income (line 2340) – Other expenses (line 2350).

Pay attention! The calculation of the company's income and expenses is carried out in accordance with PBU 9/99, 10/99, and the data is taken on the basis of accounting, not tax accounting. If, as a result of mathematical operations, a negative indicator is formed, it is enclosed in parentheses (-), which indicates that the company is unprofitable.

Current income tax - formula

Next, after calculating profit before tax, the current income tax and net profit of the business are determined. The resulting amount of tax payments is reflected in the account. 68 and is payable to the state as a whole for the tax period (taking into account the amounts of advance payments already transferred).

Income tax, formula:

Income tax on line 2410 = P before tax x 20% (line 2300) +/- PNO (PNA) on line 2421 +/- Changes in IT on line 2450 +/- Changes in IT on page 2430.

If we talk about filling out page 2410 in Form-2, it should be noted that these indicators are only transferred from the income tax return, and the preliminary calculation is carried out according to the rules and regulations of the chapters. 25 NK. The tax amount is always filled in in parentheses. And if the enterprise is not recognized as a profit taxpayer and operates under a special regime (UTII, simplified taxation system, unified agricultural tax), line 2410 includes the amount of certain tax obligations in terms of the special regime used - imputation, simplification or agricultural producers.

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Profit rate: calculation formula

To understand the success of an enterprise, one of the main criteria is the amount of profit. In general terms, profit is the difference between the funds received from sales and the costs of the enterprise. There is the concept of rate of return, the calculation formula and economic essence of which will be discussed below.

The concept of rate of return

The Decree of the Government of the Russian Federation dated June 25, 2003 No. 367 “On approval of the Rules for conducting financial analysis by arbitration managers” defines the rate of net profit as the ratio of the amount of net profit to the amount of revenue excluding value added tax and excise taxes included in the sales price of goods or services of an enterprise .

The profit margin shows how many kopecks of profit are generated for each ruble of revenue. This indicator allows you to evaluate how effective the ratio of the enterprise’s costs and funds received from sales is.

Formula for calculating rate of return

Profit margin = Net profit / Revenue

The numerator contains the net profit indicator, which is the final indicator of the profitability of the enterprise, cleared of all possible expenses.

Using the lines of Form 2 “Profit and Loss Statement”, the formula is calculated as:

Net profit = Profit (loss) before tax – Current income tax – Change in deferred tax liabilities – Change in deferred tax assets – Other

The denominator is the revenue indicator, which reflects the amount of revenue received by the enterprise from the sale of goods and services in a given reporting period, minus value added tax and excise taxes. In Form 2 “Profit and Loss Statement” this indicator is reflected in line 2110 “Revenue”.

Application of rate of return

The profit margin is applied by the company's management for:

tracking the dynamics of business profitability when the indicator is compared with previous periods;
comparing the performance of branches, divisions or subsidiaries of a company for the purpose of analyzing the effectiveness of a particular asset and subsequent decisions on transforming the structure of the asset portfolio;
benchmark with other enterprises in the industry, if the average rate of profit for similar companies is known, which allows you to maintain or achieve competitive advantages in price at low costs;
The expected rate of return is used to make decisions about launching or abandoning an investment project or when choosing from several investment projects, when preference is given to the investment with the highest rate of return.

Factors influencing the rate of profit

The rate of return is formed by the ratio of two profitability indicators; accordingly, factors influencing the numerator and denominator also affect the final value.

The numerator, revenue, depends on sales volume in natural units of measurement and on the selling price of the company's goods or services. At the same time, the company’s pricing policy, established rules for payments - with deferments, advance payments, and so on - also affect sales volume.

Net profit depends both on price and sales volume, and on all costs incurred by the enterprise in the process of business activities, both production and those associated with other supporting processes in the company.

Thus, a company can sell large volumes of products at prices that are acceptable to it, but if the cost is very high and other costs are also higher than their acceptable level, then the entire effect of large sales will be offset by ineffective production and management processes.

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Current income tax (current tax loss).

Definition. Current income tax (current tax loss) is the amount of actual tax that should be paid to the budget for the reporting period. It is determined based on the amount of conditional income/expense and its adjustments to the amounts of permanent tax liabilities, deferred tax assets and liabilities of the reporting period.

The current income tax is equal to the amount of income tax reflected in the organization’s income tax return and payable to the budget for the reporting period.

Current income tax (IT) is calculated using the formula:

TN = UR (UD) + PNO - PNA + SHE - IT,

where UR (UD) is a conditional income tax expense (income);

PNO, PNA - the amount of permanent tax liability (PNO) and asset (PNA);

SHE, IT - the amount of deferred tax asset (STA) and deferred tax liability (DTL).

The scheme for calculating the current income tax is given in paragraph 21 of PBU 18/02.

To ensure that your current tax is calculated correctly, you can perform an alternative calculation as follows:

Current tax = Taxable income x Tax rate.

on profit of the reporting period on profit

If the enterprise does not have a permanent tax liability (assets), then the absolute difference between the “provisional income tax” calculated on “accounting” profits and the “current income tax” will be equal to the absolute difference between deferred tax assets and deferred tax liabilities. After all, it is this value (adjustment) in this case that will affect the amount of current tax liabilities for income tax.

Net profit (loss) excluding temporary differences will be determined by the formula:

PE = BP - UR - PNO + PNA,

UR - conditional income tax expense;

PNO, PNA - the amount of permanent tax liability (PNO) and asset (PNA).

The structure of the Profit and Loss Statement corresponds to the following formula for determining net profit taking into account temporary differences:

PE = BP + SHE - IT - TNP,

where BP is accounting profit;

SHE, IT - the amount of deferred tax asset (DTA) and deferred tax liability (DTL);

TNP - current income tax.

Here we mean accrued or credited IT, IT, reflected in accounting entries:

Debit 09 Credit 68;

Debit 68 Credit 09;

Debit 68 Credit 77;

Debit 77 Credit 68,

which adjust the amount of income tax. These entries have nothing to do with net profit.

But in some cases, SHE and IT must be written off to the profit and loss account. They will then have an impact on net profit and loss.

Application of PBU 18/02 standards in determining the cost of construction products (construction and installation works).

The cost of completed construction and installation work is formed by adding the sums of the cost of costs accepted for tax purposes and the sums of tax differences (temporary and permanent). The amount of deferred tax assets and deferred tax liabilities does not affect the amount of cost of work.

Let's consider the formation of permanent and temporary tax differences when incurring costs related to individual elements of the cost of products (works, services).

In accordance with paragraphs 11 and 12 of PBU 18/02, as a result of using different methods for calculating depreciation for accounting purposes and for the purposes of determining income tax, both deductible and taxable temporary differences can be formed. The reason for the differences is the difference in depreciation rates applied for accounting purposes and for tax purposes.

Examples of such differences may be: the use for accounting purposes of depreciation methods different from the method in which depreciation is calculated in proportion to the useful life, or, conversely, when for accounting purposes the specified method is used, and for tax purposes the use of a non-linear accrual method is chosen depreciation.