Accounting entries for export tax rebates of foreign trade companies

Answer: Accounting processing of export tax rebates of foreign trade companies:

1. The time of sales realization of export goods of foreign trade companies Determine

the sales realization time of export goods, no matter what mode of transportation (sea, land, air, mail), after obtaining the waybill and submitting it to the bank, it will be regarded as the realization time of export sales revenue .

2. Accounting for export tax rebates (value-added tax) of foreign trade companies

Foreign trade companies must set up separate accounts to calculate the purchase amount and input amount. If the purchased goods cannot be determined at the time, When exporting or selling domestically, everything is recorded in the export inventory account. When selling domestically, it is transferred from the export inventory account to the domestic sales inventory account.

(1) When purchasing import and export goods,

Debit: Inventory Exported goods

Tax payable - value-added tax payable (input tax)

Credit: bank deposit (account payable)

(2) After the goods are exported , based on the difference between the tax rate and the tax refund rate, calculate the tax levy and refund difference and the export tax refund receivable

Debit: main business cost (tax levy and refund difference)

Export receivable Tax refund

Credit: Tax payable - VAT payable (input tax transferred out)

- VAT payable (export tax rebate)

(3) Receive export tax refund,

Debit: bank deposit

Credit: export tax refund receivable

3. Foreign trade company export tax refund (consumption tax) accounting

Foreign trade companies that export taxable consumer goods by themselves should apply to the tax authorities in charge of tax refunds for a refund of the paid consumption tax after the taxable consumer goods have been declared for export.

(1) Calculate the tax refundable after the goods are exported

Debit: Export tax rebate (consumption tax) receivable

Credit: Main business costs

(2) When the refunded consumption tax is received

Debit: bank deposit

Credit: export tax rebate (consumption tax) receivable

What does export tax rebate mean?

Export tax rebate refers to the process of international trade In business, the value-added tax and consumption tax paid in accordance with tax laws in all domestic production links and circulation links for goods declared for export in my country will be refunded, that is, the export link will be tax-free and the taxes paid in the previous tax payment links will be refunded.

As According to international common practice, export tax rebates can reduce the overall tax burden on exported goods to zero, effectively avoiding international double taxation.

It is generally divided into two types: one is to refund import taxes, that is, export products companies use imported raw materials or semi-finished products, when the products are processed and exported, the import taxes paid will be refunded; the second is to refund the domestic taxes paid, that is, when the enterprise declares the goods for export, it will refund the domestic taxes paid for the production of the goods. Export tax refund, It is conducive to enhancing the competitiveness of domestic products in the international market and being adopted by countries around the world.