Enterprise income tax is the main tax in our country. The key of tax planning is to reduce taxable income and expand the amount of deductible items as much as possible, so as to reduce taxable income and finally achieve the purpose of reducing enterprise income tax.
Therefore, for enterprises, it has a great space for tax planning. This paper intends to discuss the tax planning of enterprise income tax.
I. Tax Planning for Organizational Forms of Enterprises Taxpayers of enterprise income tax refer to enterprises or organizations that carry out independent economic accounting within the territory of China.
According to the regulations, different organizational forms have different results on whether they constitute taxpayers.
When a company sets up a subsidiary, whether it chooses to set up a subsidiary or a branch will have an impact on the negative corporate income tax.
As the subsidiary is an independent legal person, if it is profitable, its profits cannot be merged into the profits of the parent company, and it should pay enterprise income tax as an independent taxpayer.
When the local tax rate of the subsidiary is low, the subsidiary can pay less enterprise income tax, which makes the overall tax burden of the company lower.
However, a branch is not an independent legal person, so it can only merge its profits into the parent company to pay enterprise income tax. No matter how high or low the tax burden is, it cannot increase or decrease the overall tax burden of the company.
Furthermore, as a company, its operating profits are subject to corporate income tax, and the after-tax profits are distributed to investors as dividends, and investors have to pay personal income tax once and become taxpayers of personal income tax.
However, a partnership enterprise is not treated as a company, does not constitute a taxpayer of enterprise income tax, and only levies individual income tax for each partner's share of income.
For example, taxpayers A, B and C run a shop with an annual taxable income of 300,000 yuan.
If the store levies individual income tax according to the partnership enterprise (assuming that the distribution ratio of Party A, Party B and Party C is the same), the tax payable is (100000× 35%-6750 )× 3 = 84750 (yuan).
If income tax is levied according to the company, the tax rate is 33%, the tax payable is 300,000× 33% = 99,000 yuan, and the after-tax profit of 20 1000 yuan will be distributed as dividends, and Party A, Party B and Party C will also pay a personal income tax (67,000× 35%-6,750 )× 3 = 50/.
Obviously, the tax burden of the two is inconsistent.
Therefore, Party A, Party B and Party C made a decision not to organize a company, but to run a partnership enterprise.
Therefore, when setting up an enterprise, we should consider the advantages and disadvantages of various organizational forms and do a good job in tax planning of income tax before deciding whether to set up a joint stock limited company or a partnership, a subsidiary or a branch.
Second, the tax planning of enterprise income tax rate There are three levels of enterprise income tax rate: for enterprises with an annual taxable income of less than 30,000 yuan (including 30,000 yuan), the tax rate is 18%; For enterprises whose annual taxable income is below100000 yuan (including100000 yuan) to 30000 yuan, the tax rate is 27%; For enterprises with annual taxable income above100000 yuan, the tax rate is 33%. Therefore, only considering the tax rate, there is room for tax planning.
For example, suppose that the annual taxable income of an enterprise1February 30th is 100 100 yuan, then if the enterprise does not carry out tax planning, the taxable amount of its enterprise income tax is =100100× 33% = 33033.
If the enterprise has made tax planning and paid tax consultation fee of RMB 100 on February 3 1 day, the taxable income of the enterprise is =100100 =100. Through comparison, we find that through tax planning, the cost of paying expenses is only 100 yuan, but the tax saving income is: 33033-27000=6033 yuan. Obviously, there is considerable room for tax planning of enterprise income tax rate.
Third, tax planning for enterprises to make use of preferential tax policies Tax incentives are the basic elements of tax design. In order to realize the tax adjustment function, the state generally has preferential tax clauses when designing taxes. If enterprises make full use of preferential tax clauses, they can enjoy tax-saving benefits. Many preferential policies for enterprise income tax are formulated by deducting items or deductible taxable income. Accurately grasping these policies and making good use of them is the process of tax planning.
For example, the Interim Measures for Credit of Enterprise Income Tax on Investment in Domestic Equipment for Technological Transformation jointly promulgated by the Ministry of Finance and State Taxation Administration of The People's Republic of China clearly stipulates that 40% of the investment in domestic equipment required for the project can be credited from the enterprise income tax added in the year when the equipment for the enterprise technological transformation project is purchased compared with the previous year.
This is a preferential tax policy formulated by the state since the implementation of the new tax system, which has a great impact on corporate income tax payment.
Enterprises should seize this opportunity in time, carry out necessary technological transformation and innovation, promote the upgrading of products and enhance the market competitiveness of products.
However, when choosing tax preference as the breakthrough of tax planning, we should pay attention to two problems: first, taxpayers should not misinterpret the terms of tax preference, abuse tax preference and cheat tax preference by deception; Second, taxpayers should fully understand the preferential tax terms and apply according to the prescribed procedures to avoid losing their due rights and interests due to improper procedures.
Fourth, the decision-making of enterprise capital structure uses tax planning of preferential tax policies. A basic basis for enterprise financing decision-making is the cost of capital, and the cost of obtaining funds from different sources is different.
For example, the financing cost of stocks is dividends and bonuses, and the financing cost of bonds and bank loans is interest.
The tax law stipulates that dividend payment shall not be charged as an expense, but can only be distributed in the income after paying income tax; Interest payments can be charged as expenses and allowed to be deducted in calculating taxable income.
Therefore, when raising funds, enterprises should fully consider the tax deduction of interest and the role of financial leverage, and choose the best capital structure.
For example, if an enterprise raises funds through bonds, the coupon rate of bonds is 12%, and the corporate income tax rate is 33%, then the after-tax interest rate actually borne by the enterprise is 8.04% [12% × (1-33%)], and the interest expenses of borrowed funds can play a tax-saving role, while the interest and dividends paid by the enterprise's common stock financing must be paid by.
V. The time and amount of tax planning expenses for enterprise expenses directly affect the taxable income of each period, so the following points should be paid attention to when expenses are charged: 1. The incurred expenses should be written off in time.
If bad debts and bad debts have occurred, they should be included in expenses in time, and the reasons for inventory losses and damage should be found out in time, and the normal loss part should be included in expenses in time.
2. The expenses and losses that can be reasonably predicted should be included in the expenses by withholding method.
3. Appropriately shorten the amortization period of expenses and losses that need to be allocated in future years.
For example, the amortization of low-value consumables and prepaid expenses should choose the shortest period, increase the expenses in previous years and postpone the tax payment time.
4. For expenses charged within the limit, such as business entertainment expenses and public welfare relief donations, we should accurately grasp the limit allowed to be charged, and strive to fully charge the part within the limit.
VI. Tax Planning for Sales Income of Enterprises If taxpayers can delay the realization of taxable income, they can reduce the taxable income in this period, thus delaying or reducing the payment of income tax.
For ordinary enterprises, the main income is the income from selling goods, so delaying the realization of the income from selling goods is the focus of tax planning.
According to the tax law of our country, direct collection and sales are used to receive the payment for goods or obtain the voucher for requesting the payment, and the day when the bill of lading is handed over to the buyer is taken as the time for revenue recognition; When selling goods by installment, the collection date agreed in the contract shall be the revenue recognition time; However, sales by order and sales with advance payment in installments are confirmed when the goods are delivered; The sales of consignment goods shall be recognized when the consignee sends back the consignment list.
In this way, enterprises can delay the realization of sales revenue through the choice of sales methods, thus delaying the payment of enterprise income tax.
At the same time, enterprises should comprehensively use various sales methods, so that enterprises can not only delay the payment of enterprise income tax, but also recover their income safely.
VII. Tax Planning for Depreciation of Fixed Assets of Enterprises The depreciation of fixed assets is an item that is allowed to be deducted before paying income tax. Under the condition of fixed income, the greater the depreciation amount, the less the taxable income.
The depreciation of fixed assets involves three issues: the choice of depreciation method, the estimation of depreciation period and the determination of net salvage value.
The depreciation methods of fixed assets mainly include average life method, workload method and accelerated depreciation method (including double declining balance method and sum of years method).
Among these three methods, accelerated depreciation method can make more depreciation in the early stage and less depreciation in the later stage.
In this way, under the condition that the tax rate remains unchanged, the taxable income in the early stage of the enterprise will decrease, while the taxable income in the later stage will increase, so that the enterprise will pay less income tax in the early stage and pay more income tax in the later stage, that is, part of the income tax payment time of the enterprise will be delayed. Because of the time value of the funds, the tax payment will be postponed to the later stage due to the increase of the depreciation in the early stage, which is equivalent to obtaining an interest-free loan from the state according to law.
After the depreciation method is determined, the depreciation period should be estimated first.
The tax law has certain provisions on the depreciation period of fixed assets, but the specified period is flexible.
Under the premise that the tax rate remains unchanged, enterprises can choose a shorter depreciation period as far as possible, so that enterprises can depreciate more in the early stage and get the benefit of deferred tax payment.
Secondly, the net salvage value should also be estimated.
China's tax law stipulates that before calculating the depreciation of fixed assets, the residual value should be estimated and deducted from the original value of fixed assets, and the proportion of residual value should be less than 5% of the original value, which should be determined by the enterprise itself; Due to special circumstances, it is necessary to adjust the proportion of residual value, which should be reported to the tax authorities for the record.
Therefore, under the premise that the tax rate remains unchanged, enterprises should estimate the net salvage value as low as possible, so that the total depreciation of enterprises is relatively more, and the depreciation amount of each period is relatively more, thus making enterprises pay less income tax during the depreciation period.
Eight, the tax planning of enterprise inventory valuation method The valuation of inventory at the end of the period has a great influence on the current profit.
Different valuation methods of inventory issue will result in different ending costs, thus obtaining different enterprise profits, and then affecting the amount of income tax.
According to the tax law of our country, the valuation methods of inventory issue mainly include FIFO, LIFO, weighted average, moving average, gross profit margin and individual valuation.
Under the condition of constant tax rate, if prices keep rising, adopting LIFO method can reduce the cost of inventory at the end of the period and increase the cost of sales in the current period, thus reducing the taxable income and achieving the purpose of reducing income tax; On the other hand, if prices continue to fall, adopting the FIFO method can reduce the cost of inventory at the end of the period and increase the cost of sales in the current period, thus reducing the taxable income and achieving the purpose of paying less enterprise income tax (deferred); When the price fluctuates, the weighted average method or moving average method can make the taxable income of enterprises more balanced, avoid overestimating profits and pay more income tax, so as to achieve the purpose of tax planning.