A: On April 30, 2020, the Ministry of Finance of People's Republic of China (PRC) and State Taxation Administration of The People's Republic of China jointly issued the Announcement on Extending the Implementation Period of the VAT Reduction and Exemption Policy for Small-scale Taxpayers (Announcement No.24 of the Ministry of Finance of People's Republic of China (PRC) and State Taxation Administration of The People's Republic of China, 2020), with clear documents:

In order to further support individual industrial and commercial households and small and micro enterprises to fully return to work, the Ministry of Finance? Announcement of State Taxation Administration of The People's Republic of China on Supporting Individual Industrial and Commercial Households to Return to Work for Value-added Tax Policy (Ministry of Finance? The implementation period of preferential tax policies stipulated in Announcement No.2020 13 of State Taxation Administration of The People's Republic of China is extended to 65438+February 3, 20201.

Document 13 of 2020 stipulates that:

1) Small-scale VAT taxpayers in Hubei Province, the taxable sales income is exempt from VAT, and the tax rate is 3%; Prepaid VAT items with a withholding rate of 3% shall be applied, and the prepayment of VAT shall be suspended.

2) Except Hubei Province, small-scale VAT taxpayers in other provinces, autonomous regions and municipalities directly under the Central Government levy taxable sales income at the rate of 3%, and levy VAT at the reduced rate of 1%; For prepaid VAT items subject to 3% withholding rate, prepaid VAT minus 1% withholding rate.

The original document stipulates that the policy implementation period is from March 1 day to May 3 1 day.

1% tax rate how to make accounts?

First of all, it needs to be clear that the accounts are made according to the actual invoices.

Situation 1:

The total amount of special tickets issued this quarter is more than 300,000 yuan. Small-scale taxpayers with monthly sales of 654.38+10,000 yuan or less (quarterly sales of 300,000 yuan) do not enjoy the VAT exemption policy.

Suppose that only 1 ordinary ticket is issued in March this season, with a collection rate of 1%, with a tax-free amount of 400,000 and a tax-included amount of 40,000.

Make accounts according to the tax-free amount actually invoiced and the tax rate of 1%.

When VAT liabilities occur:

Debit: 440,000 yuan in bank deposit or accounts receivable.

Loan: the main business income is 400,000 yuan.

Taxes payable-VAT payable 40,000.

When the actual payment is made.

Borrow: Taxes payable-VAT payable is 40,000.

Loan: Bank 40,000.

Situation 2:

The total amount of special tickets issued this quarter does not exceed 300,000 yuan. (Small-scale taxpayers with monthly sales of 654.38+10,000 yuan or less (quarterly sales of 300,000 yuan) are exempt from VAT. )

Suppose that only 1 1% ordinary tickets are issued in March this season, with a tax exemption amount of 200,000 and a tax payment amount of 20,000.

When VAT liabilities occur:

Debit: 220,000 yuan in bank deposit or accounts receivable.

Loan: the main business income is 200,000 yuan.

Taxes payable-VAT payable is 20,000 yuan.

If the quarterly sales amount is less than 300,000 yuan, the value-added tax shall be exempted.

Borrow: Taxes payable-VAT payable is 20,000.

Loan: Non-operating income is 20,000 yuan.

When is the deadline for 1% tax rate extended? In the new document in May, the levy rate of small-scale enterprises 1% was extended to 65438+February 3 1 this year. As an accountant, these new policy changes are closely related to enterprise management. Have you got it all now? Related accounting treatment Bian Xiao also made entries for everyone, for your direct reference.