How to write the accounting entry after receiving the tax return
Tax return is a local preferential policy issued by the local government, and the accounting of tax return will involve "taxes and surcharges" and other accounting items. How should enterprises make accounting entries when they receive tax returns?
Accounting treatment of tax return
1、 The returned consumption tax received by the enterprise and other taxes originally included in the "taxes and surcharges" account should be based on the amount actually received. The accounting entries are as follows:
Debit: bank deposit
Credit: taxes and surcharges
2、 The VAT actually received by the enterprise that is collected and refunded immediately, collected and refunded first, collected and refunded first, or directly remitted VAT shall be credited to the "non operating income" account. The accounting entries are as follows:
Debit: bank deposit
Credit: non operating income
The credit amount of "non operating income" at the end of the period reflects the VAT actually received or directly exempted. At the end of the period, the debit of this account is carried forward to the "profit of this year" account, and there is no balance in this account after carrying forward. The accounting entries are as follows:
Debit: Non operating income
Credit: Profit of this year
3、 When an export enterprise sells export goods, the amount of tax refundable calculated from the tax declaration of "tax exemption, offset and refund" with the tax authority according to the regulations, and when it actually receives the VAT consumption tax that should be refunded, it shall be included in the credit of the subject of "export tax refund receivable". The accounting entries are as follows:
Debit: bank deposit
Credit: Export tax rebate receivable
What are taxes and surcharges?
It refers to the relevant taxes that enterprises should bear in their business activities, including consumption tax, urban maintenance and construction tax, resource tax, education surcharge, property tax, vehicle and ship tax, urban land use tax and stamp tax.
What is non operating income?
It refers to other gains except the main business income of the enterprise. In other words, it is not within the scope of the business license of the enterprise, and has no direct relationship with the normal business of the enterprise. It is a credit account, which is reflected in the income statement, but does not affect the enterprise's operating profit.
In actual business, the common ones are: debt restructuring gains, government subsidies, inventory gains, donation gains, etc.
