Calculation formula of enterprise income tax

Income tax = taxable income * tax rate (25% or 20%) Taxable income = total income-non-taxable income-tax-free income-various deductions-The income tax of loss-making enterprises in previous years refers to a tax levied on the net income, income and other income of domestic enterprises or organizations that have obtained taxable income and implemented independent economic accounting. (1) Corporate income tax taxpayers Corporate income tax taxpayers meet the following three conditions at the same time: 1. Open a settlement account in a bank; 2. Set up accounting books independently and prepare financial and accounting statements; 3. Calculate the profit and loss independently. (2) The object of enterprise income tax is the taxpayer's income from production, business operation and other income from China and abroad in each tax year. (3) The tax basis of enterprise income tax is taxable income. Taxable income = total annual income-deductions (IV) Taxable amount of enterprise income tax

legal ground

People's Republic of China (PRC) enterprise income tax law

Article 5 Taxable income refers to the total income of an enterprise in each tax year, the balance after deducting non-taxable income, tax-free income, various deductions and allowed losses in previous years. Article 54 Enterprise income tax shall be paid in advance in monthly or quarterly installments. An enterprise shall, within 15 days after the end of the month or quarter, submit a tax return for prepaying enterprise income tax to the tax authorities and pay taxes in advance. The enterprise shall, within five months after the end of the year, submit the annual enterprise income tax return to the tax authorities for final settlement and settlement of the tax refund. When an enterprise submits an enterprise income tax return, it shall attach financial and accounting reports and other relevant materials in accordance with the regulations.

skill

The above answer is only for the current information combined with my understanding of the law, please refer carefully!

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