How to calculate corporate income tax

Each commercial enterprise strives to achieve profitability of its business, making taxable profits. The base interest rate applied to income tax is not more than 20% and depends on the territorial location of the organization in the given region.

Profit is one of the most important and basic performance indicators of any enterprise. All data is displayed in the income statement. From it you can get reliable information for the required reporting period. The tax code regulates the taxation of profits.

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Functions of income tax

This tax can perform several functions:

• fiscal, allowing to form a budget for the comprehensive development of the state and ensure its needs;
• regulatory aimed at regulating the income of the population and the implementation of anti-crisis measures. Its main instruments include tax payments and benefits that allow influencing various economic processes;
• controlling, which makes it possible to monitor the effectiveness of taxation and the pace of economic development;
• social, aimed at providing various types of assistance to poor citizens through payments collected from more affluent.

In addition, some categories of taxpayers have tax benefits that affect taxable income.

Taxable amounts

In order to learn how to determine income tax with an example for dummies, you need to know what indicators are subject to this type of tax.

TO sales income funds are included, the receipt of which is connected with the main activity of the company.

These are products manufactured directly by the organization and purchased for subsequent resale, works performed on orders from third-party organizations or the public.

Non-operating income include:

• profit of previous years, discovered directly in the reporting period;
• amounts of fines and penalties received from other companies;
• received bad debts, previously written off as losses;
• income received from a share in the capital of other enterprises, not counting the funds used to pay for the issue of additional shares distributed among shareholders;
• profit from surplus property discovered during the inventory process;
• donated property and others.

Profit for income tax purposes is generally defined as the operating income of the company minus the amount of established deductions and discounts.

When calculating the tax, it is useful to have an idea of ​​​​what the total consumption. It consists of the following items: production costs, including the cost of raw materials that become part of the products, electricity, fuel, as well as labor remuneration, advertising, packaging, and other overhead costs.

Calculation features

The period for calculating the base of this tax is determined by law and is equal to a calendar year. According to the law, an enterprise is given the right to calculate the tax base for income tax, as well as transfer an advance payment based on the results of a quarter or every month.

When applying the first method, the following intervals are considered to be reporting periods:

1. 3 first months from 01.01 to 31.03;
2. 6 months from 01.01 to 30.06;
3. 9 first months from 01.01 to 30.09.

If the company is given the right to use the second method, then the periods are calculated by months.

How the tax rate is distributed

With the established tax rate of 20%, according to the legislation of the Tax Code of the Russian Federation, 2% goes to replenish the country's federal budget, and the regional budget becomes richer by 18%. In full, it goes to the federal treasury from enterprises extracting hydrocarbon raw materials from the sea.

How to calculate income tax? Formula next:
NP \u003d (OD - OR) * SNP / 100
Here: NP - income tax; OD - total income; OR - total expenses; SNP - the percentage rate of this tax.

Thus, in order to calculate, we need to take general income organizations, subtract from them all expenses, then multiply the result by the set interest rate and divide by 100. The amount received is subject to deduction to the budget.

Consider the calculation of corporate income tax and a sample according to the formula with tables at a rate of 20% with a quarterly reporting period.

When an enterprise does not make monthly payments, the calculation of the tax base is carried out on an accrual basis quarterly.

For instance, company income"Orion" for this reporting period equals 800 thousand rubles,
Production costs- 500 thousand rubles.
Based on this, the tax base 300 thousand rubles were calculated. If the company does not have privileges, so 300 thousand rubles is multiplied by the rate and divided by 100. 60 thousand rubles are subject to deductions to the budget, of which 54 thousand rubles will go to the regional budget and 6 thousand rubles to the federal one.

Turnover balance sheet - an important accounting register

From this report, which is available in each company, you can get the necessary information about all operations performed with funds. When compiling this important document, the accounting policy of this organization and the general Regulations are taken into account. It is necessary for the preparation of all kinds of taxes, obligations, differences, in accordance with Regulation PBU 18/02.

Sample Calculation

An example of calculating the balance sheet

When calculating this indicator, it is necessary to take into account that the result is accounting profit and not tax.

PBU 18/02 features and specifics

Profit is the resulting indicator of a company's performance, calculated as the positive difference between cumulative revenues and cost recovery.

However, the calculation of such values ​​in accounting and tax accounting is not performed in the same way. In the course of work, there are times when certain amounts may be recognized in one accounting and not recognized in another due to the use of different methods.

Such differences lead to non-identical profit, and the accountant, when they appear, has to perform another corrective entry that regulates the amount of profit and tax to the values ​​​​of tax accounting.

Accounting for income tax calculations PBU 18/02- a provision obliging to display in the accounting the differences that have arisen in the calculation of this type of tax, allowing you to exercise control over the correctness of its preparation, to prevent possible errors.

What are advance payments

The amount of the advance payment is calculated not from the actual income, but on the basis of the data of the past quarter.

Monthly payments are made by enterprises whose average income turned out to be more than 15 million rubles for the previous 4 quarters. Such payments can be made in any form until the 28th monthly.

The base interest rate applied to income tax is not more than 20% and depends on the territorial location of the organization in the given region.

Companies with an average income of less than this value, based on the data of the last four quarters, are allowed to make upfront payments quarterly. They are calculated from the income actually received, the advance is transferred in the last month of each quarter, but no later than the 28th day.

1. Calculate the tax base, from the cumulative totals of each of the last four quarters.
2. Get the quarterly average. To do this, you need to add all the indicators and divide by four. If the tax base turns out to be higher than 15 million rubles, then contributions will have to be paid monthly, if not, quarterly.

Advance income tax payments: calculation example

Per I quarter profit subject to taxation of OOO Profi Plus amounted to 12 million rubles.

Calculation of the quarterly payment: 12 million rubles. x 20% to the transfer of 2.4 million rubles.
The amount of the advance payment is found as the difference between 2.4 million rubles of the quarterly payment and the amount of monthly contributions already deducted. Since there were none, the entire amount is payable in the first quarter.

In II quarter an advance payment was made - 800 thousand rubles (2.4 million rubles: 3).

• For half a year the tax base is calculated - 30 million rubles.
• This means that the amount of payment for the quarter will be 6 million rubles (30 million rubles x 20%).
• Surcharge for 6 months 1.2 million rubles: (6 -2.4 -800 x 3).

V III quarter the advance payment for the month will be 1.2 million rubles (6 million rubles - 2.4 million rubles: 3).

• For the first 9 months, taxable income is calculated in the amount of 41.0 million rubles. Therefore, the advance payment will be equal to 8.2 million rubles (41.0 million rubles x 20%).
• As a result, the enterprise received an overpayment of 1.4 million rubles (8.2 million rubles - 6.0 - 1.2 million rubles x 3).

When an enterprise does not make monthly payments, the calculation of the tax base is carried out on an accrual basis quarterly. The established interest rate is applied to it for calculating the advance payment.

When calculating contributions for 6 and 9 months, an offset mechanism is used, thanks to which payments transferred earlier are taken into account when calculating quarterly amounts.