Accounting treatment of masks bought by companies during the epidemic.
During the epidemic period, the company's cost of buying masks is included in the labor protection fee when doing accounting treatment, as follows:
Borrow: management fees, etc.-labor protection fees
Taxes payable-VAT payable-input tax
Loan: bank deposit
Case description:
During the epidemic period, the company purchased masks of RMB 10000 and distributed them to employees. The VAT invoice was 10000 and the VAT was 1300. Excuse me: how to do the relevant accounting treatment?
Borrow: management fee-labor insurance fee 10000
Taxes payable-VAT payable-input tax 1300
Loan: bank deposit 1 1300
Tax treatment of masks bought by companies during the epidemic period.
During the epidemic, the company bought masks and distributed them to employees, which was a direct need for work. According to the relevant regulations, the expenditure on protective equipment such as masks belongs to labor protection expenditure. The specific tax treatment is as follows:
1, personal income tax
According to the relevant regulations, drugs, protective drugs and other physical objects issued by the unit to individuals for preventing new pneumonia can be exempted from personal income tax. Therefore, during the epidemic period, the company's expenses for buying masks are allowed to be exempted from tax.
2. Enterprise income tax
According to the provisions of Article 48 of the Regulations for the Implementation of the Enterprise Income Tax Law, the enterprise income tax is allowed to be deducted before tax if the labor protection expenditure incurred by the enterprise has obtained the legal pre-tax tax deduction certificate. That is, if the masks purchased during the epidemic period have obtained legal pre-tax tax deduction certificates, the pre-tax deduction of enterprise income tax is allowed.
3. VAT
Labor protection expenses are within the scope of application for deduction of input tax. For masks purchased during the epidemic period, the input tax can be deducted from the output tax under the condition of obtaining legal VAT tax deduction certificate.
Related reading: How to do tax treatment for the company to buy masks?