Taxable profit and features of its determination. Income tax The taxable profit of an enterprise is

The overall financial result of business activities in accounting is determined in the profit and loss account by counting and balancing all profits and losses for the reporting period. Business transactions in the profit and loss account are reflected on a cumulative basis, i.e. cumulatively from the beginning of the reporting period.

Another principle for determining financial results is the use of the accrual method. For this reason, the profit (loss) shown in the income statement does not reflect the actual cash flow of the enterprise as a result of its business activities. To restore the real picture of the value of the financial result of an enterprise as an increase (or decrease) in the value of its capital formed in the process of its economic activities during the reporting period, additional corrective calculations are necessary.

In the profit and loss account, the financial results of the enterprise are reflected in two forms:

• 1. as results (profit or loss) from the sale of products, work, services, materials and other property, with their preliminary identification on separate sales accounts;
• 2. as results not directly related to the sales process, the so-called non-operating income (profits) and losses (losses). Non-operating income and losses are recorded directly as credits and debits to the Profit and Loss account without prior entry to any other accounts.

The main profit indicators are:

total profit (loss) of the reporting period - balance sheet profit (loss);

gross profit;

profit (loss) from sales of products (works, services);

profit from financial activities;

profit (loss) from other non-operating operations;

taxable income;

net profit.

Each enterprise produces four profit indicators that differ significantly in size, economic content and functional purpose. The basis for all calculations is balance sheet profit is the main financial indicator of the production and economic activity of an enterprise. For tax purposes, a special indicator is calculated - gross profit, and on its basis - taxable profit, and tax-free profits. The part of the balance sheet profit remaining at the disposal of the enterprise after making taxes and other payments to the budget is called clean profit. It characterizes the final financial result of the enterprise.

Profit at an enterprise depends not only on the sale of products, but also on other activities that either increase or decrease it. Therefore, in theory and practice, the so-called "balance sheet profit".

Balance sheet profit (loss ) is the amount of profit (loss) from sales of products, financial activities and income from other non-sales operations, reduced by the amount of expenses for these operations. It consists of profit from sales of products (revenue from sales of products without indirect taxes minus costs (expenses) for production and sales of products) plus non-operating income (income from securities, from equity participation in the activities of other enterprises, from leasing property, etc. .p.) minus non-operating expenses (costs for production that did not produce products, for the maintenance of mothballed production facilities, losses from writing off debts).

The main components of balance sheet profit are :

• 1. Profit from sales of commercial products is determined by deducting from the total amount of revenue from sales of products in current prices (excluding VAT and excise taxes) the costs of production and sale of marketable products, included in the cost of production.
• 2. Profit (or loss) from the sale of other non-commodity products and services is determined similarly, separately for all types of activities, i.e. profit (or losses) of subsidiary agricultural farms, motor vehicles, logging and other farms that are on the balance sheet of the main enterprise.
• 3. Profit (or loss) from the sale of fixed assets and other property is calculated as the difference between the proceeds from the sale of this property (less VAT and excise taxes) and the residual value on the balance sheet, adjusted by a coefficient corresponding to the inflation index. The main element of balance sheet profit is profit from the sale of products, performance of work or provision of services. Profit from the sale of property is a financial result not related to the main activities of the enterprise. It reflects profit (losses) on other sales, which include the sale to third parties of various types of property listed on the balance sheet of the enterprise.
• 4. Profit (or losses) from non-operating income and expenses is determined as the difference between the total amount received and paid:
  • - fines, penalties and penalties and other economic sanctions;
  • - interest received on the amounts of funds listed on the accounts of the enterprise;
  • - exchange rate differences on foreign currency accounts and transactions in foreign currency;
  • - profits and losses of previous years identified in the reporting year;
  • - losses from natural disasters;
  • - losses from writing off debts and receivables;
  • - receipts of debts previously written off as bad;
  • - other income, losses and expenses attributed in accordance with current legislation to the profit and loss account.

At the same time, amounts contributed to the budget in the form of sanctions in accordance with the legislation of the Russian Federation are not included in expenses from non-operating operations, but are included in the reduction of net profit, i.e. profit remaining at the disposal of the enterprise after paying income tax.

Thus, book profit (Pb) can be determined by the formula

Pb = ± Pr ± Pi ± Pv.o,

Where Etc - profit (loss) from sales of products, performance of work and services;

Pi - profit (loss) from the sale of enterprise property;

Pv.o - income (losses) from the sale of non-operating operations.

In addition, it stands out gross profit , which represents balance sheet profit minus or plus the financial result from transactions with fixed assets (funds), intangible assets and other property. Gross profit - part of the gross income of an enterprise or firm that remains with them after deducting all mandatory expenses. It is the amount of profit from the sale of products (works, services), fixed assets, other property of enterprises and income from non-sales operations, reduced by the amount of expenses for these operations.

Gross profit of the enterprise may differ from book profit for a number of reasons:

• 1. Gross profit increases for enterprises that carry out direct exchange or sale of products at prices not higher than cost.
• 2. When carrying out a direct exchange of fixed assets and other property or the sale of these types of property at prices below their book value, the transaction amount is determined by the market value of the property minus the book value of the sold or disposed property.
• 3. Revenue in foreign currency is recalculated into rubles at the exchange rate on the day of registration of customs documents for taxation of profits on these transactions
• 4. Funds received free of charge from other enterprises in the absence of joint activities are subject to taxation.
• 5. For property received free of charge, its value is estimated not lower than the balance sheet value at which it is registered with the transferring enterprise.
• 6. Gross profit also takes into account fines and penalties paid (with the exception of the amount of fines and penalties transferred to the budget and extra-budgetary funds).

Gross profit is reduced by the following types of income (profit):

• a) income from equity participation in the activities of other enterprises
• b) income from rental and other types of use of property, as well as from intermediary operations and transactions.
• c) income of legal entities from government bonds and other government securities, as well as income from the provision of services for their placement
• d) amounts of profit for which tax benefits are established.

After all of the above adjustments to gross profit, taxable profit remains, on which income tax is paid. In all countries with market economies, profits are taxed. Therefore, in practice it is customary to distinguish taxable income , which is gross profit minus deductions to reserve funds, income from types of activities exempt from taxation, and deductions for capital investments. Taxable profit is determined by a special calculation. It is equal to book profit reduced by the amount:

contributions to reserve and other similar funds, the creation of which is provided for by law (until the size of these funds reaches no more than 25% of the authorized capital, but not more than 50% of profit subject to taxation);

rent payments to the budget;

income from securities and from equity participation in the activities of other enterprises;

income from casinos, video salons, etc.;

profits from insurance activities;

profits from individual banking operations and transactions;

exchange rate differences resulting from changes in the exchange rate of the ruble in relation to foreign currencies quoted by the Central Bank of the Russian Federation;

profits from the production and sale of industrial agricultural and hunting products.

As a result, the enterprise, as it is commonly called in theory and in practice, remains the so-called net profit of the enterprise , i.e. profit remaining at his disposal. It is defined as the difference between book profit and the amount of income taxes, rental payments, export and import taxes, and taxes on the excess of actual labor costs compared to the norm.

From net profit, the company pays dividends and various social taxes, and forms funds. As a result, it remains unused profit , or lesion, not covered by money. Net profit is used for production development, social development, material incentives for employees, the creation of a reserve fund, payment to the budget of economic sanctions related to the enterprise's violation of current legislation, for charitable and other purposes.

An integral feature of a market economy is the emergence of consolidated profits. Consolidated profit - this is profit, summarized from the financial statements of the activities and financial results of parent and subsidiary enterprises. Consolidated financial statements are a combination of statements of two or more business entities that are in certain legal and financial-economic relationships. The need for consolidation is determined by economic feasibility. It is beneficial for entrepreneurs, instead of one large company, to create several smaller enterprises, legally independent, but economically interconnected, since in this case, savings on tax payments can be obtained. In addition, due to the fragmentation and limitation of legal liability for obligations, the degree of risk in doing business is reduced, and greater mobility is achieved in the development of new forms of capital investment and sales markets.

Profit fulfills a series functions :

• 1. Profit is an indicator of production efficiency; it guides the enterprise towards achieving better results with less labor input.
• 2. The distribution function lies in the fact that with its participation, a profitable product is distributed between the production sphere and the non-production sphere, between the enterprise and society, the enterprise and workers.
• 3. Stimulating function. Profit stimulates the use of technological progress in production, stimulates an increase in the effectiveness or efficiency of the firm. Efficiency is determined by the ratio of the result of economic activity to costs.
• 4. Profit is the main element of cash savings, one of the main sources of formation of the revenue side of the state budget.

Income tax concept

According to the current legislation, in particular the Tax Code of the Russian Federation, income tax is understood as a direct tax, which is levied on organizations that are collective entities and refers to mandatory payments at the federal level, but is credited to all budgets of the country. Its value directly correlates with the volume of the final financial result of the activity of an economic entity.

Note 1

This tax is charged on the profit received by the organization at the end of the reporting period. Profit, in turn, is defined as the difference between income and expenses.

The object of taxation is the profit of the organization. Its main payers - subjects - are presented in Figure 1.

Figure 1. Income tax payers. Author24 - online exchange of student works

Those taxpayers who:

• apply special tax regimes (UNDV, simplified tax system, unified agricultural tax);
• are participants in the Skolkovo Innovation Center project;
• are taxpayers of the gambling business tax.

The obligation to pay income tax itself appears only when there is an object of taxation, that is, in cases where an economic entity makes a profit from its activities. In the same case, when instead of profit the organization suffers losses, and the object of taxation is simply absent, there are no grounds for paying income tax.

Object of taxation

So, the object of taxation for income tax is the profit itself received by an organization as a result of its financial and economic activities. At the same time, depending on the diversity of categories of taxpayers, various categories of income can act as profit for tax purposes.

So, for example, for Russian organizations, profit subject to taxation is the amount of income reduced by the amount of expenses. At the same time, for foreign organizations, according to the legislation in force in Russia, taxable profit is considered to be the amount of all income received by it in the territory of the Russian Federation.

Income in general represents sales revenue (that is, the organization's revenue received from its main activity), as well as revenue received as a result of other activities that are not its main activity. For profit tax purposes, all income is taken into account without excise taxes and VAT.

The basis for recognizing income is: primary documents; other documents confirming receipt of income by the taxpayer; tax accounting documents.

Expenses are usually understood as documented and justified expenses of a business entity. All expenses of a business entity are divided into two large groups:

• costs associated with production and sales;
• non-operating expenses.

The first includes expenses necessary directly for organizing the process of production and marketing of products, works or services. These include expenses for remuneration of employees of the enterprise, the purchase of raw materials and materials, depreciation charges, etc.

Non-operating expenses are not directly related to the processes of production and sales of products. These include court fees, negative exchange rate differences, etc.

Note 2

The basis for recognizing expenses when calculating the amount of taxable profit are actually incurred by the business entity in the reporting period, documented and justified expenses.

Procedure for calculating income tax

In order to calculate the amount of corporate income tax, the taxpayer needs to know exactly what income and expenses can be recognized in the reporting period. There are two methods for determining the dates on which income and expenses can be recognized for tax purposes: the cash method and the accrual method.

The cash method assumes that income and expenses are recognized in accordance with the date of actual receipt of funds and actual payment of expenses.

The accrual method assumes that the dates of recognition of expenses and income do not depend on the date of actual receipt of income and actual payment of expenses. With this method, income and expenses are recognized in the tax period to which they relate, that is, in which they took place.

Consider the procedure for calculating profit in more detail. In order to determine the amount of corporate income tax, first of all, it is necessary to determine the tax base. The tax base represents the profit of a business entity that is subject to taxation. The methodology for determining the size of the tax base is presented in Figure 2.

Figure 2. Procedure for calculating the tax base. Author24 - online exchange of student works

The tax base is calculated on an accrual basis from the beginning of the tax period corresponding to one calendar year. In other words, the tax base is determined during the period from January 1 to December 31 of the current year, after which the calculation of the tax base begins from scratch.

The general formula for calculating income tax is presented in Figure 3.

Figure 3. Formula for calculating income tax. Author24 - online exchange of student works

Thus, the amount of income tax is determined by multiplying the tax base by the tax rate.

In accordance with current legislation, the standard income tax rate in Russia is 20%. At the same time, 2% is paid to the federal budget, and 18% to the budget of the constituent entity of the Russian Federation. For 2017-2020 these proportions are 3% and 17% respectively.

Example of income tax calculation

Let us give an example of calculating the amount of income tax payable to the budget. Let us assume that the activities of the company XXX LLC at the end of 2017 are characterized by the following indicators:

• Income from sales – 2,000,000 rubles.
• Expenses that reduce income from sales – RUB 1,050,000.
• Non-operating income – 25,000 rubles.
• Non-operating expenses – 48,000 rubles.

Based on the formula presented above, we will determine the amount of income tax for XXX LLC

First of all, let's calculate the tax base:

Taxable base = 2,000,000 - 1,050,000 + 25,000 - 48,000 = 927,000 rubles.

Income tax = 927,000 · 20% = 185,400 rub.

Thus, the amount of income tax for LLC XXX at the end of 2017 is 927 thousand rubles.

It is also important to adhere to the accrual principle when reflecting income tax information in financial statements. A significant amount of income tax can affect the main economic indicators of the organization’s activities, deciphered in the financial statements: net assets, balance sheet currency, net profit. As a result, in the financial statements, when generating data on income tax expense, not only must the current income tax for the reporting period reflected in the tax return be indicated, but deferred income taxes must also be recorded.

3) a loss carried forward that was not used to reduce income tax in the reporting period, but which will be accepted for tax purposes in subsequent reporting periods, unless otherwise provided by the legislation of the Russian Federation on taxes and fees;

Taxable income

taxable profit, which is the tax base for this tax. The indirect method is used, for example, in cases where the taxpayer refuses to have his activities examined by tax authorities. The taxable income of such persons is determined on

The principle of functioning of a modern economic system is based on a variety of indicators necessary for a preliminary financial assessment and work on planning future activities.

Income in this matter is considered one of the most important indicators. At the same time, taxable profit is quite important. This part of the income generated by the organization, on the basis of which one of the main segments of filling the state budget is determined.

Taxable income is a specific amount

Taxable profit means a very specific amount, which is the percentage difference between indicators such as debit and for a certain period. From the sum of money constituting the profit of any organization, a percentage is calculated that is subject to subsequent deduction to the tax service.

Such a procedure is clearly regulated by the approved provisions of the current legislation. Profit from any financial transaction can be extracted in its pure form only after the tax interest deduction procedure has been completed. The financial benefit derived by any enterprise can be expressed in kind or in exact monetary equivalent.

It can be regarded as economic income in the situation where it is provided for by the current regulations of the Tax Code. The formation of taxable profit is feasible in situations where income:

1. Received by the enterprise in the form of financial resources or any property;
2. received in accordance with the rules of Ch. 35 NK;
3. The amount of income received is subject to independent assessment.

The above conditions must be met simultaneously. For tax purposes, the total income received by an organization is determined by the volume of financial receipts minus funds spent on all kinds of costs.

Also from this amount are fees charged to various buyers. Accounting for taxable profits is always carried out on the basis of the provided accounting documentation, which includes the following:

1. Invoices with the amount of VAT paid;
2. Primary, filled out according to generally accepted unified forms;
3. Other types of documentation.
4. Characteristics of existing forms of income

As mentioned earlier, making a profit is considered one of the main goals of any commercial organization. The volume of funds for which enterprises are launched is determined by the quality of the products produced or sold.

All existing types of commercial activities imply the possibility of generating income in 4 main forms, differing in specific functional features, financial indicators and total volume. Balance sheet profit is used as the main indicator of the organization's performance.

In the reporting process, the gross income indicator is used, on the basis of which the volume of taxable profit is calculated. The financial indicator determined at the end of a certain period will correspond to the numerical coefficient of net income.

Types of income subject to taxation

Every organization is required to declare income

The main source of income for any organization is the sale of manufactured products or the provision of certain services. The following may be considered expenses:

• Costs incurred due to the need to purchase various goods, without which the provision of the entire range of services provided will not meet the required level of quality;
• Expenses include the payment of wages to personnel whose working time was involved in the manufacturing process of products and the provision of related services by the enterprise;
• You should also take into account the transportation of products, various administrative fees and, of course,.

Each organization is required to declare all types of income in accordance with the provisions of current legislation. When indicating in the reporting the volumes of funds that make up the expenses of the enterprise, it is imperative to confirm each item with the appropriate receipt, form or ordinary cash receipt.

The presence of such documents is mandatory and necessary to determine the amount of profit made in the process of the organization’s operation for a certain period and to calculate the amount of taxes to be received by the state budget. You need to understand that profit performs three main functions:

1. Reproduction of the real difference between income and expenses;
2. Stimulation of reproduction;
3. Ensuring quality control and results of work performed at the enterprise.

The following types of activities are considered to be the main sources of profit today:

• Each organization is engaged in commercial activities in the domestic market;
• Monopoly activity implies the production of unique goods or the ability to provide any specific types of services that a large number of members of the public need to maintain the desired quality of existence.
• The calculation of taxable profit is carried out after summing up the results for a certain period from the first day until its end.

Tax percentage reduction

Taxable profit is calculated using the formula

First of all, it is necessary to competently build the depreciation policy of the controlled organization, as well as select the best methods for valuing inventories, and wisely distribute the total costs of manufacturing products.

There is nothing wrong with the fact that the work of many organizations is structured in such a way as to be able to pay taxes in amounts as small as possible. Similar schemes are used in small and large enterprises. In this case, there is a rule that implies that there is no need to pay more taxes to the state than is provided for by the norms of domestic legislation.

The legislation provides for various ways to minimize tax payments. As an example, we can consider conducting commercial activities, the income from which is transferred to offshore zones and, naturally, is not subject to taxation where the company operates. It is for this purpose that many businessmen register their enterprises in other states, thus helping to reduce the volumes entering the country’s state budget, thanks to which they have the opportunity to enrich themselves.

It must be said that taxable profit is determined by organizations using OSNO. Organizations operating on the simplified tax system or UTII are always exempt from this. The tax interest rate for such enterprises will be approximately 20%. Of these, 2% should go to the state budget, and 18% fill the regional budget.

For certain types of commercial activities, the legislation provides for the possibility of reducing the tax rate. Certain groups of organizations have the opportunity to take advantage of special tax benefits. For example, a 0% rate may be provided for the following organizations:

• Agricultural enterprises.

To confirm your right to receive preferential tax rates, you will have to present the relevant documentation to the tax office. Only in this way will it be possible to prove that the organization is really involved in one of the above areas of activity.

Taxable income formula

In order to determine the amount of funds from which deductions to the budget will be made, it is necessary to determine the so-called gross income result. This indicator is calculated by determining the difference between the total receipts of funds at the disposal of the organization and the cost of manufactured goods or services provided. The formula looks like this: P = P- N- P- P. Thus, you can get the amount of reduced book income (P) by:

1. Property tax;
2. Additional tax obligations;
3. Revenues targeted at specific transactions eligible for application.

Additional income will always be recognized as revenue received from commercial activities using securities or third-party receipts.

Adjusting financial results for income tax differences - the topic of the video: