What s going on with the corporate income tax settlement? I m a recent graduate and don t know how?

Final settlement refers to the taxpayer in accordance with the tax laws, regulations, rules and other relevant provisions of enterprise income tax within the prescribed period after the end of the tax year, calculate the annual taxable income and income tax payable, according to the monthly or quarterly prepaid income tax, determine the amount of the annual tax payable or tax refund, and fill in the annual enterprise income tax return, to the competent tax authorities for the annual enterprise income tax declaration, provide the relevant information required by the tax authorities, The act of settling the annual corporate income tax. The specific process is:

1. Contact the tax administrator to understand the relevant regulations of this year's final settlement, and apply for the purchase of paper statements or software provided by the tax authorities.

2. Prepare relevant financial information to understand the differences between tax laws and accounting regulations.

3. Based on the income statement, calculate the various items that should be increased and decreased, and fill in the annual enterprise income tax final settlement form. (The 41 tables of audit collection are relatively simple in determining the taxable income rate).

4. Use the declaration method provided by the tax authorities to declare online or bring the exported electronic documents and paper documents to the tax service hall for door-to-door declaration.

The so-called final settlement is a method of calculating the amount of income tax payable in the past year and adjusting it according to the requirements of the tax law.

The monthly and quarterly income tax is generally prepaid, and the annual income tax final is to audit the income, costs, expenses, invoice compliance and non-compliance involved in the year, and finally determine the assurance report to adjust the amount of income tax prepaid.

Generally, enterprises pay enterprise income tax in advance every month, and at the end of the year, the final settlement is carried out, that is, the income, costs, expenses, etc. of the whole year are adjusted in accordance with the requirements of the tax law, the taxable income tax is determined, and the final income tax payable is calculated. The specific tax adjustment matters cannot be explained clearly in a few words, please carefully study the relevant tax law knowledge and financial knowledge.

Jilin National Tax Xiao Wang tells you:

1. The tax law stipulates that the enterprise income tax is levied on an annual basis, that is, (annual income-cost-expense-loss)* tax rate.

At the same time, the tax law also stipulates quarterly prepayment, that is, (quarterly income-cost-expense-loss)* tax rate.

2. Due to the difference between quarterly prepayment and annual levy, it is necessary to settle the final settlement within 5 months after the end of the year, which is the final settlement you said. At this time, you need to recalculate the income tax payable for the whole year in accordance with Article 1, minus the income tax paid in advance for four quarters, which is the income tax you should pay or refund in one year. Do you understand?

1. Income: Check whether the income of the enterprise is fully recorded, especially whether the current account still exists and is recognized as income but not recorded;

2. Cost: Check whether the cost carry-over of the enterprise matches the income and whether it truly reflects the cost level of the enterprise;

4. Taxation: check whether the various taxes of the enterprise are withdrawn and paid;

5. Make up for losses: use the profits realized by the enterprise in the current year to legally make up for the losses incurred in the previous year (within 5 years);

6. Adjustment: After the above items are increased and decreased respectively according to the provisions of the tax law, the annual taxable income of the enterprise shall be calculated according to law, so as to calculate and pay the actual income tax payable in the current year.

Special attention: the tax adjustment mentioned in the income tax final settlement is to adjust the statement without adjusting the source of the account, and does not do any business treatment in accounting, but only adjusts it on the declaration form, which only affects the income tax payable by the enterprise, and does not affect the pre-tax profit of the enterprise.

After the accounting of the declaration year is completed, the final settlement and payment of the work are briefly summarized as follows:

1. Check the accounts: check the annual accounts of the reporting year, and check the accounts that have occurred but the documents have not been submitted according to the accrual principle;

2. Do a good job in tax adjustment (here according to the actual situation of the enterprise), and determine the income tax payable in the declaration year;

4. If the annual income tax audit report of the tax belt consultant firm must be attached, the audit report shall be made before the annual income tax declaration;

5. Adjust the relevant tax payments, do a good job in the online declaration or tax hall declaration, prepare the annual income tax return, attach the relevant enterprise statements and related explanatory materials, and declare the competent tax authorities.

Profit is filled in according to the actual amount incurred and the financial statements, and the content is filled in for the whole year of last year.

The loss needs to be issued by the intermediary to issue a loss appraisal report, and the declaration form can be filled in according to the report amount.

The annual corporate income tax settlement should be completed before May 31.

Unnamed Mingde.

The difficulty is to have a full understanding of the enterprise income tax law, and know the tax basis and deduction standards of various incomes, costs and expenses, that is, the differences between the tax law and accounting standards in terms of revenue recognition and cost and expense. (The country's industrial policy also needs to be understood in terms of tax incentives).

According to the requirements of the tax law, the final settlement is to audit which income (and income not recognized in the financial book) of the enterprise should be subject to income tax, and those costs and expenses can be fully or partially disbursed to calculate the taxable income.

Corporate income tax can be calculated as follows: the taxable income multiplied by the specific tax rate. Taxable income is the total income of the enterprise for the year, minus the balance of non-taxable income, tax-exempt income, various deductions, and the amount of previous losses.

The tax rate for resident enterprises is 25% and the tax rate for non-resident enterprises is 20%.

1. The concept of enterprise income taxEnterprise income tax is a tax levied on the production and operation income and other income of China's domestic-funded enterprises and business units. The scope of taxpayers is larger than that of the corporate income tax. Enterprise income tax payers refer to all domestic-funded enterprises or other organizations within the territory of the People's Republic of China that implement independent economic accounting, including the following 6 categories:

1) state-owned enterprises; (2) collective enterprises; (3) private enterprises; (4) associates; (5) Joint-stock enterprises; (6) Other organizations with production and operation income and other income. The object of enterprise income tax is the income obtained by the taxpayer. It includes income from the sale of goods, income from the provision of services, income from the transfer of property, income from dividends and dividends, income from interest, income from rent, income from royalties, income from receiving donations and other income.

Enterprise income tax refers to an income tax levied on enterprises (resident enterprises and non-resident enterprises) and other organizations that obtain income within the territory of the People's Republic of China on their production and operation income. As an enterprise income tax payer, you should pay enterprise income tax in accordance with the Enterprise Income Tax Law of the People's Republic of China. However, sole proprietorships and partnerships are excluded.

2. Taxpayers of enterprise income taxThe taxpayers of enterprise income tax refer to all domestic-funded enterprises or other organizations within the territory of the People's Republic of China that implement independent economic accounting, including the following six categories: state-owned enterprises, collective enterprises, private enterprises, joint ventures, joint-stock enterprises, and other organizations with production and operation income and other income. An enterprise refers to an enterprise registered and registered in accordance with national regulations.

"Other organizations with income from production and operation" and other income refer to public institutions, social groups, and other organizations that have been approved by the relevant state departments and registered and registered in accordance with law, and have income from production and business operations. Independent economic accounting refers to the ability to open a settlement account with a bank at the same time; Independently establish account books and prepare financial and accounting statements; Calculate conditions such as profit and loss independently. Sole proprietorship enterprises and partnership enterprises do not use this law, and these two types of enterprises can levy individual income tax to avoid double taxation.

3. The object of enterprise income tax is the income obtained by taxpayers. It includes income from the sale of goods, the provision of labor services, the transfer of property, dividends and dividends, interest income, rental income, royalty income, donation income and other income. Resident enterprises shall pay enterprise income tax on their income within and outside China.

Although the corporate income tax rate is 25, the tax law stipulates some tax incentives, including tax exemptions, tax reductions, additional deductions, accelerated depreciation, write-down income, tax credits, etc., so if a business wishes to reduce taxes, there are some legal ways to reduce the tax burden on their company.