In simple terms, the final settlement is to calculate whether it is necessary to pay back taxes or refund taxes in the following year according to the provisions of the tax law, and submit it to the tax bureau. Everyone can also understand that the tax bureau needs to give the enterprise a general examination at the end of the year to see if there is anything wrong with you. Therefore, as an annual event of an enterprise, settlement and payment need to be paid more and more attention by entrepreneurs.

Especially in the current national tax management, the importance of final settlement will become more and more prominent under the premise of paying attention to daily tax collection and management, and gradually turning to paying attention to follow-up inspection. Improper handling of final settlement will bring a lot of trouble to enterprises.

the general process of final settlement

1. Get the annual accounting statements

2. Adjust the internal accounting data to tax data according to the accounting statements and their specific contents, and discuss the possibility of paying taxes or refunding taxes

3. After getting the confirmation of the accounting statements and tax statements from the management, prepare relevant documents

4. Submit these documents to the competent tax bureau

When will the income tax final settlement be started?

an enterprise shall, within five months from the end of the year, submit the annual enterprise income tax return to the tax authorities, make final settlement and settle the tax refund payable.

In practice, for foreign-funded enterprises, due to the preparation work of auditing and other aspects, it is necessary to require the audit report to be completed as much as possible within March. The tax bureau is not so strict with the time requirement for the final settlement of foreign-funded enterprises, and it can be completed before the end of May.

for domestic enterprises, it usually starts in March and finishes in April of the following year. The main reason is that the competent tax officials don't believe in the integrity of domestic-funded enterprises, so they try to finish everything ahead of time and leave free time for the moths in case something happens later.

So, if your accountant wants you to complete the settlement before the end of April, please don't blame him.

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