1, monthly or quarterly income tax payable:
Debit: income tax
Loan: tax payable-enterprise income tax payable
2. When paying quarterly income tax:
Borrow: tax payable-enterprise income tax payable
Loan: bank deposit
3. The annual income tax payable shall be deducted from the prepaid tax, and the positive number shall be the supplementary tax.
Debit: adjustment of profit and loss in previous years
Loan: tax payable-income payable to enterprises
4. Pay the annual final tax payable:
Borrow: tax payable-enterprise income tax payable
Loan: bank deposit
5. Redistribution of profits
Debit: profit distribution-undistributed profit
Credit: adjustment of profit and loss in previous years
6, the annual settlement, if the annual income tax payable is less than the prepaid tax:
Debit: tax payable-enterprise income tax payable (other receivables-overpaid income tax receivable)
Credit: adjustment of profit and loss in previous years
7. Redistribution of profits
Debit: adjustment of profit and loss in previous years
Credit: profit distribution-undistributed profit
8. Refund of overpaid taxes upon examination and approval by the tax authorities:
Debit: bank deposit
Loan: tax payable-enterprise income tax payable (other receivables-overpaid income tax receivable)
9. No tax refund will be applied for the overpaid income tax to offset the income tax paid in advance in the next year:
Debit: income tax
Loan: tax payable-enterprise income tax payable (other receivables-enterprise income tax payable for overpayment shall be withdrawn on a monthly basis, paid quarterly and settled and remitted throughout the year; The so-called advance payment means that the accumulated total profit is multiplied by the tax rate minus the tax paid before, which is the amount that needs to be paid in advance. This amount is not the final actual amount, and the tax adjustment through liquidation and remittance will be calculated throughout the year.
Legal basis:
Enterprise Income Tax Law of the People's Republic of China
Article 54 stipulates that enterprise income tax shall be paid in advance in monthly or quarterly installments. An enterprise shall, within 15 days from the end of the month or quarter, submit a tax return for prepaying enterprise income tax to the tax authorities to pay taxes in advance. 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.
When submitting enterprise income tax returns, enterprises shall attach financial and accounting reports and other relevant materials in accordance with regulations.
Regulations for the Implementation of the Enterprise Income Tax Law of the People's Republic of China
Article 127 The advance payment of enterprise income tax on a monthly or quarterly basis shall be specifically approved by the tax authorities.
When an enterprise pays enterprise income tax monthly or quarterly according to Article 54 of the Enterprise Income Tax Law, it shall pay in advance according to the actual monthly or quarterly profit; If it is difficult to pay in advance according to the actual monthly or quarterly profit, it may be paid in advance according to the monthly or quarterly average amount of taxable income in the previous tax year, or by other methods recognized by the tax authorities. Once the prepayment method is determined, it shall not be changed at will within the tax year.
Article 128 An enterprise shall, regardless of its profit or loss in the tax year, submit to the tax authorities the advance enterprise income tax return, annual enterprise income tax return, financial accounting report and other relevant materials required to be submitted by the tax authorities within the time limit stipulated in Article 54 of the Enterprise Income Tax Law.