How to pay a profit tax

Profit Tax - Collection with net income of legal entities of any form of ownership. There are some features of payment of this tax.

For Russian enterprises, the tax collection is charged on the difference between net income from enterprise activities and costs, expenses, discounts, gifts, etc., that is, profit. According to the same scheme, they are calculated with tax and foreign enterprises operating through registered in Russia. And other foreign organizations are counting on income tax (excluding expenses and deductions).

To date, two methods of profit calculus are recognized in Russia: cash, accrual. Following the accrual method, the company pays income tax over the entire period, regardless of whether the relevant period was the movement of funds. The cash register is a full consideration of the coming - extent of the dates. The tax rate itself is 20%. Its main part (18%) is subject to transfer to the regional budget, and the rest is sent to the federal. Nevertheless, local authorities have the right to reduce the tax rate for enterprises of their region to 13.5%. It should be remembered that the costs and deductions in the tax report must be specified in its pure form (excluding VAT).

Complete accounting of income tax is provided in the tax declaration (this is a document that serves as a summary report on the movement of the enterprise's funds). Organizations are given tax declarations at the end of the reporting year, quarter or month, depending on the conditions of activity. The reporting is the 28th number (month; the last month of the quarter; March of the year following the reporting). In addition to paying taxes for the reporting period, there is a form of payment of fees in the form of advance payments. They pay forward to the end of the taxable period. The size of these payments is fixed, is made monthly, quarterly or half a year equal amounts.

In 2014, some amendments were made by the Ministry of Finance. Thus, a restriction was taken to account for foodstuffs on water, air transport, so the cost of costs are fully taken into account.

There were changes and relatively depreciation of property. Earlier, the property acquired for target budget funds was not subject to depreciation. Today, this statement remains strength, but only in the case of the funds spent on the property under consideration were allocated from the budget to the full (and not part, share).

To six known intangible assets added another new one: ownership of media files (sound, video format). These assets also retain the possibility of depreciation.

An innovation was introduced, according to which some groups of taxpayers (institutions such as theaters, museums, etc.) have the right to provide tax reports on annual results at the end of the tax period, as well as other organizations. Previously, they were obliged to pay advance funds on the eve of the quarter.