What is a tax liability? Accounting and tax liability

The occurrence of tax liabilities is regulated by the Tax Code. In accordance with the Code, each payer must make transfers of one kind or another of amounts to the budget. Meanwhile, in practice, far from all entities properly fulfill their tax liability. This happens for various reasons. Someone does it intentionally, but someone simply does not know the law. Further consider what a tax liability is.

general characteristics

Tax liabilities arise by law. In accordance with the Tax Code, the payer must:

1. Register at the Federal Tax Service.
2. Define taxable objects.
3. Calculate and pay the established amounts to the budget.
4. Compose and submit reports.

Legal and natural persons act as payers.

Items

The object of taxation is property or actions, the presence or execution of which determines the occurrence of a tax obligation. When calculating the amounts payable to the budget, the base is determined. It is the physical, cost or other characteristic of the object of taxation. In the Tax Code for each tax rate is set. It is determined in absolute terms or as a percentage per unit of measure of the base or object of taxation.

Execution

The tax obligation is paid off by the payer independently, unless otherwise provided by the Code. For execution, the subject:

1. It is registered with the Federal Tax Service.
2. Records and summarizes information about the objects of taxation, keeps records of tax obligations.
3. Calculates the amount of budgetary contributions. Calculation of tax liability is based on objects, base and rates.
4. Forms and submits to the supervisory authorities documentation (reporting) in a timely manner and according to the rules established by the Tax Code. The FTS does not surrender tax registers.
5. Makes deductions to the budget.

As a general rule, a tax liability must be fulfilled in the manner and within the time specified in the Tax Code. However, the subject can repay it ahead of schedule. The law allows several taxation options. A change in tax liability represents a transition from one system to another. For example, if there are grounds, the subject can change the OSNO to the STS or UTII.

The timing

The period of fulfillment of an obligation to the budget begins on the day after the legal action or actual event, in connection with which the entity must transfer to the budget. The end of the term occurs at the end of the last day of the time period established by the Code. If it falls on a weekend or holiday, the expiration of the period occurs at the end of the next working day. If a debt occurs, the entity repays it in the following order:

1. Accrued interest.
2. Arrears.
3. Fine.

Limitation of actions

It represents the period during which:

1. The payer / agent may require a refund / offset of budget amounts, penalties, etc.
2. The supervisory authority may accrue or revise the previously calculated amount of tax or other obligatory budget payment.
3. The payer / agent provides reporting, has the right to make adjustments and additions to the declaration or withdraw it.
4. The supervisory authority must refund / offset budget amounts, penalties, etc.

The limitation period for the obligation and demand is 3 years. The beginning of the period coincides with the end date of the corresponding reporting period, with the exception of cases specified in the Tax Code.

Postponement

Current legislation allows for a change in the period of fulfillment of an obligation. For this, the payer must send a corresponding application to the Federal Tax Service. Changing the deadlines is not allowed for the fulfillment of tax obligations withheld at the source of payment, excise taxes, and also VAT on imported products. The transfer of the period can be carried out no more than a year (calendar). In the application, the person concerned must indicate the circumstances that necessitate the adjustment of the term. The law does not allow the transfer of the right to fulfill obligations for changed periods. The postponement of the term is made on the security of material assets of the payer or a third party or against a bank guarantee in accordance with the rules established by the Tax Code.

Additional features

The conditions for the deduction of amounts to the budget are established by the Tax Code. Accordingly, payers / agents cannot arbitrarily determine the rules at their discretion. Meanwhile, the Code allows a change in the procedure for repayment of obligations. It is carried out by providing:

1. Deferrals
2. Installments.
3. Tax / investment loan.

Deferral / installment payment of an obligation is permitted if there are grounds established by 64 articles of the Code. It can be provided for 1-6 months. with phased or one-time payment of debt.

Deferral / installment grounds

They are:

1. Damage to the payer due to a man-made disaster, natural disaster, or other insurmountable circumstances.
2. Delay in budget financing or payment of completed government orders.
3. The risk of loss of solvency with a one-time repayment of debt.
4. Seasonal nature of the production of works, the provision of services, production output.
5. Inability to make a one-time payment due to their property status.

Based on the basis, interest is accrued on the amount of debt. In this case, 1/2 the refinancing rate established by the Central Bank for the installment / deferral period is taken into account. If the first 2 grounds apply, then interest is not charged.

Credit

It is provided for in Article 65 of the Tax Code. Tax credit - change in the term for deduction of payment to the budget for 1-12 months. It is provided to the entity upon request. In this case, at least one of the above grounds must take place. When granting a loan, an agreement is drawn up between the control body and the payer. If the postponement of the term is caused by harm caused by a catastrophe, natural disaster and other similar phenomena, as well as in connection with a delay in budget financing or payment by a counterparty, no interest shall be charged on the amount of debt.

Investment loan

In the system of forms for changing periods of fulfillment of obligations, it occupies a special place. Attention should be paid to its rather important feature. Investment tax credit is granted exclusively to organizations. It is provided for deductions from profits and amounts payable to regional and local budgets. As Article 66 of the Tax Code points to (para. 1), a tax investment loan implies a change in the repayment period of the obligations in which the legal entity, under the appropriate circumstances, is able to reduce the amount within a specified time period and within the established limits, followed by phased transfer of the loan and interest on it .

Important points

A tax investment loan has several distinctive features that should be taken into account by payers:

1. A prerequisite for obtaining is the need for the enterprise to conduct socially significant activities. In the sense of Article 67 of the Tax Code, it should include scientific-design or innovative work, measures for re-equipment of production, etc.
2. Interest on the loan amount is set in the range from 1/2 to 3/3 of the Central Bank refinancing rate. In this case, an indicator is adopted, which is valid on the date of registration of the contract.
3. A loan may be granted for a long period. The term is from one to five years.
4. The legislation establishes a special procedure for granting loans and repaying debts. During the first period, the company can regularly reduce payments to the budget of the appropriate level by a specific amount, in the second - a phased payment of the principal debt and accrued interest is made. Of course, the obligation to deduct other taxes must also be fulfilled.

Termination Terms

The Tax Code provides grounds for removing the burden of taxation on a citizen. They are the death of the payer or the announcement of his death, in accordance with a court decision that entered into force. If an individual has the status of an individual entrepreneur, then the burden of taxation is removed upon termination of his activity as an entrepreneur. Tax liabilities of organizations are terminated in connection with:

1. Liquidation of the enterprise.
2. Reorganization of a company through division, merger and takeover. In the latter case, termination of taxation is provided for the affiliate.

Tax assets and liabilities

The amount of deductions from profit is determined in the accounting and financial statements differently. The result is a difference. To reflect it, an indicator such as IT (deferred tax liability) is used. In the balance sheet, this is the part of the deduction from profit, which leads to an increase in the amount payable in the period following the reporting period. In addition to IT, the indicator IT (deferred tax assets) is used to display the difference. It is expressed in the amount of deductions from profits coming to the budget in the next period.

The specifics of the formation of SHE

At any enterprise, it may happen that the profit on tax (NU) and accounting do not coincide. This situation is explained by the difference in the calculation method. The amount of IT may be permanent or temporary, deductible or taxable. At the enterprise, assets are recognized as deferred if the costs of acquiring fixed assets in accounting (BU) exceed the costs reflected in tax registers. The difference may appear in case of discrepancy between the amounts of revenues for NU and BU. That is, the company hoped to sell a certain number of assets, but in fact did not fulfill the plan. The appeared difference refers to IT.

Appointment

A temporary difference serves as a basis for reducing future deductions from profits. IT is determined by multiplying the rate by BP. The indicator is shown in the middle. 09. Analytical accounting of tax liabilities and IT is carried out for each type separately. The legislation may provide for different rates for deductions from profits. In such cases, when determining IT it is necessary to use the one that corresponds to the perfect operation. Accounting for IT is carried out by the entries:

• Dr. sch. 09 Set. 99 - arrival.
• Dr. sch. 99 Sett. 09 - write-off.

If there is no profit for a specific period, they are shown on page 145 as part of non-current assets. Their indicators are maintained until taxable income. Upon disposal of the asset, which accrued the deferred asset, the balance is transferred to the account. 99. IT is reflected when taxable differences appear or when there is a high probability of profit in subsequent periods, which may be adjusted for a temporary difference.

Features IT

Tax liabilities in the balance sheet appear as a result of:

1. The use of various methods of depreciation.
2. The use of different methods for recognizing interest income and income from sales.
3. Using a different order of reflection% on loans.

In practice, there may be other reasons.Retirement of IT is due to the repayment or reduction of temporary differences, the cancellation of liabilities or assets for which they were calculated. How is IT reflected? To show tax liabilities, postings are made as follows:

• Dr. sch. 99 Sett. 65 - accrual.
• Dr. sch. 65 Sett. 99 - repayment / reduction.

Analysis

Deferred liabilities can be used in studying the activities of the company. IT is considered as a type of receivables. The volume, dynamics, and composition of assets at the beginning and end of the reporting period are analyzed. The emergence of SHA indicates investment activity, the receipt and disposal of non-current assets. The IT movement is related to financial transactions. Ideally, they should change in direct proportion to the obligations. An acceptable situation is when IT is higher than IT. In this case, there is a passive balance. In such situations, the company has another source of funding. Its term of use corresponds to the period of repayment of obligations. If IT is higher than IT, then the balance is regarded as an additional diversion of funds from the turnover.

Features of the provision of information

SHE in the balance sheet - part of the deduction from profits, which may cause a decrease in the amount received in the budget. Accordingly, information about them is reflected not only in f. No. 1, but also in the report on the financial results of the enterprise. IT and IT are not discounted. The company can offset against the following conditions:

1. The company has the right to do so by law.
2. Collecting IT and IT is made from one legal entity.

Reimbursed budget allocations are recognized in the statement of comprehensive income.

Conclusion

Almost every citizen in the country acts as a tax payer. When acquiring property, finding a job, opening his own business, the subject becomes a debtor to the state. The tax obligation must be fulfilled within the time limits established by the Tax Code. In case of tax evasion, income hiding, the legislation provides for several types of liability. In the event of major damage to the budget of the state, the entity found guilty may be charged with criminal punishment.