Accounting Standards for Business Enterprises What are Stamp Tax Accounting Entries
Under the new accounting standards, the stamp tax paid by enterprises is no longer accounted for through the "business tax and surcharges" account, but included in the "tax and surcharges" account. How to make accounting entries for stamp duty?
Accounting Standards for Business Enterprises Stamp Tax Entry Processing
Stamp tax included in the "taxes and surcharges" subject of the new accounting standards
According to the provisions of CK [2016] No. 22 document, the title of "business tax and surcharges" was changed to "tax and surcharges" after the comprehensive trial of "levying value-added tax instead of business tax".
This item accounts for consumption tax, urban maintenance and construction tax, resource tax, education surcharge, property tax, land use tax, vehicle and vessel use tax, stamp tax and other related taxes and fees incurred in business activities of enterprises; The item "business taxes and surcharges" in the income statement is adjusted to "tax and surcharges". Before May 1, 2016, "four small taxes" (property tax, land use tax, vehicle and vessel tax, stamp tax) were disbursed in the "management expenses" account, and after May 1, 2016, they were adjusted to the "taxes and surcharges" account.
Stamp tax entry processing:
Debit: taxes and surcharges
Credit: bank deposit/cash on hand
Calculation method of stamp duty
Stamp duty is a kind of tax levied on the act of concluding and receiving legally effective vouchers in economic activities and economic exchanges. It is named because it uses the stamp tax receipt pasted on the taxable voucher as the sign of tax payment.
The taxpayers of stamp duty include enterprises, administrative units, public institutions, military units, social organizations, other units, individual businesses and other individuals that have established and received prescribed economic vouchers in China.
The tax rate of stamp duty has two forms, namely proportional tax rate and quota tax rate. If the stamp tax is calculated according to the proportional tax rate, the amount contained in the voucher shall be taken as the tax basis, and the tax rate shall be multiplied. The total amount of paid in capital and capital reserve shall be taken as the tax basis for the account book recording funds in the business account book. Business account books and rights licenses shall be taxed according to the number of pieces, each of which is 5 yuan.