Debit: Bank deposit ("accounts receivable" if not received) is 8 million.
Loan: the main business income is 8 million.
At the same time, local taxes such as business tax, urban construction tax (urban business tax is 7%) and education surcharge (business tax is 3%) are accrued according to 5%.
Debit: business tax and surcharges-business tax is 400,000 yuan (800*5%).
Business tax and surcharges-urban construction tax 28,000 yuan (40*7%)
Business tax and surcharge-education surcharge 1.2 million (40*3%).
Loan: Taxes payable-business tax 400,000 yuan.
-Urban construction tax is 28,000 yuan.
-education surcharge 1.2 million yuan.
Business tax, urban construction tax and education surcharge can be declared according to 400,000 yuan and 28,000 yuan (5% in urban areas, and other tax rates such as 1% for enterprises in urban areas) and 1.2 million yuan respectively.
Others may also have local surcharges such as local education surcharges, depending on the provisions of the local taxation bureau.
Final payment time:
Borrow: Taxes payable-business tax 400,000 yuan.
-Urban construction tax is 28,000 yuan.
-education surcharge 1.2 million yuan.
Loan: 440,000 yuan in bank deposit.