Simply put, the final settlement is to calculate whether it is necessary to pay back taxes or refund taxes in the following year in accordance with the provisions of the tax law and submit it to the tax bureau. Everyone can understand that the tax bureau needs to make a general inspection of the enterprise at the end of the year to see if you have any problems. Therefore, settlement payment, as an annual event of enterprises, needs more and more attention from entrepreneurs.

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

General process of final settlement

1 Get annual accounting statements

2. According to the accounting statements and their specific contents, adjust the internal accounting data into tax payment data, and discuss the possibility of tax payment or tax refund.

3. Prepare relevant documents after the management confirms the accounting statements and tax statements.

Submit these documents to the competent tax bureau.

When is the income tax settled?

The enterprise shall, within five months after the end of the year, submit the annual enterprise income tax return to the tax authorities for final settlement and settlement of the tax refund.

In practice, for foreign-funded enterprises, the audit report should be completed within 3 months as far as possible due to the preparation work of audit and other aspects. 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.

Domestic enterprises generally start in March of the following year and finish in April. The main reason is that tax officials don't believe in the integrity of domestic enterprises, so they try to finish things ahead of time and leave their free time to moths in case something happens in the future.

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

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