2. Policy basis for the treatment of enterprise income tax: Articles 47 and 58 of the Regulations for the Implementation of the Enterprise Income Tax Law, and Announcement of State Taxation Administration of The People's Republic of China, People's Republic of China (PRC) on Tax Issues Concerning the Sale of Assets by Lessees in Financing Sale and Leaseback Business (People's Republic of China (PRC) State Taxation Administration of The People's Republic of China AnnouncementNo. 10).
3. Difference: Fixed assets under financial leasing are treated as enterprise fixed assets in accounting standards and enterprise income tax business, but there are still some differences in asset initial cost measurement and depreciation provision. Taxpayers should make tax adjustments according to tax accounting differences when settling corporate income tax.
1. What is financial leasing?
Financial lease refers to a lease that essentially transfers all or most of the risks and rewards related to asset ownership.
Second, the difference between financial leasing in accounting and tax law
Policy basis for accounting treatment: Accounting Standards for EnterprisesNo. 1 No.2 1- Lease;
Policy basis for handling enterprise income tax: Articles 47 and 58 of the Regulations for the Implementation of the Enterprise Income Tax Law, and Announcement of State Taxation Administration of The People's Republic of China, People's Republic of China (PRC) on Tax Issues Related to the Sale of Assets by Lessees in Financing Sale and Leaseback Business (People's Republic of China (PRC) State Taxation Administration of The People's Republic of China AnnouncementNo. 10).
Third, differences.
The fixed assets of financial leasing are treated as fixed assets of enterprises in accounting standards and enterprise income tax business, but there are still some differences in asset initial cost measurement and depreciation provision. Taxpayers should make tax adjustments according to tax accounting differences when settling corporate income tax.
Four. Confirmation of financial leasing mode
1. When the lease expires, the ownership of the leased assets will be transferred to the lessee;
2. The lessee has the option to purchase the leased assets, and the purchase price is expected to be much lower than the fair value of the leased assets when exercising this option, so it can be reasonably determined that the lessee will exercise this option on the lease start date;
3. Even if the ownership of the assets is not transferred, the lease term accounts for most of the service life of the leased assets;
4. The present value of the lessee's minimum lease payment on the lease start date is almost equal to the fair value of the leased assets on the lease start date; The present value of the lessor's minimum lease payment on the lease start date is almost equal to the fair value of the leased assets on the lease start date;
5. The leased assets are special in nature and can only be used by the lessee without major changes.
6. It should be noted that the concept of financial leasing is not specified in the tax law, and the division and confirmation of financial leasing methods should comply with the provisions of the accounting standards for enterprises.
Verb (abbreviation of verb) Difference of fixed assets impairment reserve
Accounting and tax depreciation are based on the initial cost of fixed assets. Due to the difference of initial cost confirmation methods and depreciation years, the fiscal and tax differences of depreciation amount in each period are determined.