It has become a fixed practice that annual settlement and settlement are required. The work of settlement and settlement has also become an important matter in financial work, especially for industry reforms, business tax to VAT and golden tax. The comprehensive launch of the third-phase system is a headache. So how to calculate and settle the payment? What is the settlement and settlement process? Let’s listen to the advice given by the experts of Mande Enterprise Services.

There are two objects for final settlement and settlement, one is the enterprise that implements audit and collection, and the other is the enterprise that implements the assessment of taxable income rate. Regardless of whether the enterprise makes profits or losses, or whether it is within the reduction or exemption period, it must make final settlement and settlement in accordance with regulations. However, enterprises that collect corporate income tax at a fixed amount will not make final settlements.

Final settlement refers to the taxpayer's self-calculation of the annual taxable income and payable amount within a specified period after the end of the tax year in accordance with tax laws, regulations, rules and other relevant corporate income tax provisions. For the amount of income tax, determine the amount of tax payable or refundable for that year based on the amount of income tax paid in advance on a monthly or quarterly basis, fill in the annual corporate income tax return, submit the annual corporate income tax return to the competent tax authority, and provide relevant information required by the tax authority. Information and settlement of corporate income tax for the entire year.

The general workflow is as follows:

1. Accounting. On the basis of prepayment within 15 days after the end of each month or quarter, the tax payable, payable and refundable for the whole year shall be determined by itself.

2. Declaration. Fill out and submit the annual corporate income tax return and its appendices, as well as other information required by the tax authorities.

3. Payment.

Normally, it is from January 1st to December 31st in the Gregorian calendar. If an enterprise opens and terminates in the middle of a tax year, so that the actual operating period of the tax year is less than 12 months, the actual operating period shall be regarded as one tax year.

Time for final settlement and settlement

Within 5 months after the end of a tax year (January 1 to May 31 of the following year), for example, the 2016 corporate income tax settlement Calculation and payment time: January 1 to May 31, 2017. Most companies make centralized declarations from March to May every year, and the tax bureau concentrates on deductions at the end of May.