How to calculate the current income tax

In accordance with tax legislation, all enterprises that conduct commercial activities in the Russian Federation are burdened with the payment of income tax, they include foreign commercial organizations. The exceptions are firms working with simplified tax regimes.

If the company leads tax and accounting in accordance with the general taxation scheme, it is obliged to pay income tax, based on the amount of profit in the reporting period. During the reporting period, the following time intervals can be taken: month, year, quarter, half year.

Current profits tax is:

obligation payable;
the amount of income tax for the reporting period;
expenses of the enterprise for income tax;
the difference between the magnitude of the profit in accounting and the same indicator in the tax accounting.

The tax base for calculating the current income tax is the difference between gross income and handling costs. In accordance with tax legislation, to revenues that are used to calculate income tax include those that are obtained from the sale of goods and services, from equity participation in other enterprises, from renting various property, as well as non-engine income and payments for fines From the side of counterparties that have not fulfilled their obligations. Expenditures include all costs of the enterprise for the production and sale of goods and services: wages, expenses for materials, property, etc., as well as non-deactive costs.

20% - Basic income tax rate. However, in some cases, legislation provides benefits on this tax, for example, a decrease in tax rate for residents of some economic zone or for certain categories of taxpayers.The size of the current profit tax is equal to the amount of gross income and income tax rate.

Index "Current income tax" is zero if the enterprise suffered losses at the outflow period. At the same time, in the subsequent reporting period, the tax base can be reduced to the amount of the loss obtained.

The correct calculations of this indicator are eliminated from disagreements with the tax service. If the paid amount of income tax exceeds the true figure, then the difference between them is accounts receivable. If the amount in fact was underpaying, then there is a debt of the enterprise.