Since 1996, State Taxation Administration of The People's Republic of China has implemented the national unified electronic management of export tax rebate, and the electronic management system of export tax rebate has been incorporated into the national "Golden Customs Project" and "Golden Tax Project", which is one of the three core application systems in State Taxation Administration of The People's Republic of China at present. The software was developed by State Taxation Administration of The People's Republic of China, People's Republic of China (PRC) and distributed to enterprises free of charge. Report System for Export Tax Refund of Production Enterprises, 7th Edition. X "software is the latest version in 2005, which is suitable for the national production-oriented export enterprises to handle the year-end liquidation in 2004 and the tax refund declaration in 2005. National export enterprises can download and use it for free through the enterprise-side technical support website of the electronic export tax rebate management system-China Export Tax Refund Advisory Network (www.taxrefund.com.cn), which is provided by the developer of the system, Dalian Longtu Information Technology Co., Ltd. in various ways. This series of articles will be tracked and sorted according to the feedback from colleagues all over the country, and published on the China Export Tax Refund Advisory Network. For a comprehensive and detailed explanation, please refer to Export Tax Refund from Beginnings to Proficiency in pop-up book Series of Export Tax Refund compiled by China Export Tax Refund Consulting Network.
According to the current accounting system, the tax exemption accounting of production enterprises mainly involves such subjects as "tax payable-VAT payable" and "subsidy receivable-export tax rebate". Its accounting treatment is as follows:
(1) When goods are exported and revenue is confirmed, the following accounting treatment shall be carried out according to export sales (FOB):
Debit: accounts receivable (or bank deposits, etc.). )
Loan: main business income (or other business income, etc. )
(2) At the end of the month, according to the "tax exemption, credit and non-tax exemption" calculated in the summary declaration form of tax exemption and refund, the following accounting treatment is made:
Debit: main business cost
Credit: Taxes payable-VAT payable (transfer-out input tax)
(3) At the end of the month, according to the "tax refund amount" calculated in the summary declaration form of tax exemption and refund, do the following accounting treatment:
Borrow: Subsidies Receivable-Export Tax Refund
Loan: Taxes payable-VAT payable (export tax rebate)
(4) At the end of the month, according to the "tax allowance" calculated in the "tax allowance summary declaration form", do the following accounting treatment:
Borrow: tax payable-value-added tax payable (export deducted from domestic tax payable)
Loan: Taxes payable-VAT payable (export tax rebate)
(5) When receiving the export tax rebate, do the following accounting treatment:
Debit: bank deposit
Loans: Subsidies Receivable-Export Tax Refund
(To be continued)
Discussion on accounting treatment of "exemption, credit and refund" tax (part two) (adjusting accounting treatment of declaration data)
Long blog studio Boyue 2005/03/30
For the freight, insurance and commission allowed to be deducted by the accounting system, if the actual settlement is different from the original estimated amount, it can be adjusted in the settlement month.
If it is found that there are errors in the data declared by the enterprise, the original declared data cannot be adjusted directly, but the red and blue word adjustment method should be adopted in the next month.
If the export tax rebate declaration is inconsistent with the value-added tax declaration, and there are differences, the account must be adjusted in the next period, and the value-added tax declaration form should be adjusted accordingly.
Due to the above reasons, it is necessary to adjust the accounts, and the accounting treatment is as follows:
(A) the adjustment of export sales revenue this year
(1) If the export sales revenue is wrong due to over-reporting or under-reporting in the previous period or using the wrong exchange rate, the following accounting treatment shall be carried out in the current period when it is discovered:
Amount adjusted according to sales revenue:
Debit: accounts receivable (or bank deposits, etc.) (those with less income in the previous period are blue, and those with more income in the previous period are red)
Loan: income from main business (blue means under-reported income in the previous period, and red means over-reported income in the previous period)
(2) If the freight, insurance and commission allowed to be deducted according to the accounting system are different from the original estimated amount, the following accounting treatment shall be carried out in this period:
Amount adjusted according to sales revenue:
Debit: other payables (or bank deposits) (blue or red)
Loan: main business income (blue or red)
When column 2c of the Summary Report of Exemption, Refund and Tax Refund for Export Goods of Production Enterprises in the previous period is not equal to 0, the following accounting treatment shall be carried out in this period:
According to the sales volume of export goods (the difference from the VAT tax declaration):
Debit: accounts receivable (or bank deposits) (blue when it is greater than 0, and red when it is less than 0).
Creditor: main business income (greater than 0 is in blue, less than 0 is in red)
Precautions:
(1) When the above account is adjusted at the same time, it should be adjusted in the Export Tax Refund Reporting System. The adjustment method is to enter an adjustment record (positive or negative) in the export schedule.
(2) For the sales revenue that has been adjusted in the Export Tax Refund Reporting System, because the reporting system has included the adjustment data when calculating the tax exemption and credit, the main business cost can be adjusted independently without multiplying the sales revenue by the difference between the tax credit and tax refund, but the tax exemption and credit calculated in summary will be carried forward to the main business cost at the end of the month.
(2) Adjustment of export tax rate and tax rebate rate this year.
For the tax rate and tax refund rate of over-reporting or under-reporting in the previous period, the red and blue word adjustment method should be adopted in the "Export Tax Refund Declaration System". According to the summary calculation of the reporting system, tax exemption and tax deduction are not allowed, tax exemption and tax deduction amount, tax refund amount and tax exemption and tax deduction amount should be recorded at the end of the month, and there is no need to separately account for the adjustment data.
(3) Adjustment of export sales revenue in the previous year
(1) If the export was overstated or underreported in the previous year, or the export sales revenue was wrong due to the wrong exchange rate, the following accounting treatment shall be carried out in the current period:
Amount adjusted according to sales revenue:
Debit: accounts receivable (or bank deposits, etc.) (those with less income in the previous period are blue, and those with more income in the previous period are red)
Creditor: adjustment of profit and loss of previous years (blue for those who underreported previous income and red for those who overstated previous income)
According to the difference between the sales revenue adjustment amount multiplied by the tax refund rate:
Debit: adjustment of previous year's profit and loss (blue indicates under-reported income in previous period, and red indicates over-reported income in previous period).
Credit: tax payable-value-added tax payable (input tax transferred out) (blue for those who reported less income in the previous period and red for those who reported more income in the previous period)
According to the sales revenue adjustment amount multiplied by the tax rebate rate:
Borrow: Taxes payable-VAT payable (export is deducted from domestic taxes payable) (blue words, red words for those who underreported income in the previous period)
Loan: tax payable-value-added tax payable (export tax rebate) (blue for those who reported less income in the previous period and red for those who reported more income in the previous period)
(2) If the freight, insurance and commission allowed to be deducted according to the accounting system are different from the original estimated amount (last year), the following accounting treatment shall be carried out in this period:
Amount adjusted according to sales revenue:
Debit: other payables (or bank deposits) (blue or red)
Credit: profit and loss adjustment of previous years (blue or red)
According to the difference between the sales revenue adjustment amount multiplied by the tax refund rate:
Debit: adjustment of previous year's profit and loss (blue indicates under-reported income in previous period, and red indicates over-reported income in previous period).
Credit: tax payable-value-added tax payable (input tax transferred out) (blue for those who reported less income in the previous period and red for those who reported more income in the previous period)
According to the sales revenue adjustment amount multiplied by the tax rebate rate:
Borrow: Taxes payable-VAT payable (export is deducted from domestic taxes payable) (blue words, red words for those who underreported income in the previous period)
Loan: Taxes payable-Value-added tax payable (export tax rebate) (blue for those who reported less income in the previous period and red for those who reported more income in the previous period)
(3) When column 2c in the summary table of tax exemption and refund declaration for export goods of production enterprises in February of last year is not equal to 0, the following accounting treatment shall be carried out in June of this year:
According to the sales volume of export goods (the difference from the VAT tax declaration):
Debit: accounts receivable (or bank deposits) (blue when it is greater than 0, and red when it is less than 0).
Credit: adjustment of profit and loss in previous years (those greater than 0 are indicated in blue, and those less than 0 are indicated in red).
Precautions:
(1) Under the above circumstances, only the account is adjusted, and the data of the Export Tax Refund Reporting System is not adjusted.
(2) Pay attention to the fact that when filling in the VAT taxpayer's declaration form (Table 2), the "transferred-out input tax amount" adjusted last year should not be mixed with the "exemption, tax refund and deduction tax amount" of export goods this year, and should be reflected separately.
(3) When "Non-deductible tax" is entered in the "Entry of VAT declaration items" in the "Export Tax Refund Declaration System", only the "Non-deductible tax" of export goods in this year is entered, and the "Transfer-out of input tax" adjusted last year is not considered.
(four) the adjustment of the tax rate and tax rebate rate of export goods in the previous year.
If the tax rate and tax rebate rate of export goods in the previous year were overstated or understated, the following accounting treatment should be carried out in this period:
Adjust the amount according to the difference between sales revenue and tax rate:
Debit: adjustment of profit and loss in previous years (blue or red)
Credit: Taxes payable-VAT payable (transfer-out input tax) (blue or red)
According to the sales revenue multiplied by the tax rebate rate adjustment:
Debit: Taxes payable-VAT payable (export tax deducted for domestic sales) (blue or red)
Loan: Taxes payable-VAT payable (export tax rebate) (blue or red)
Precautions:
(1) Under the above circumstances, only the account is adjusted, and the data of the Export Tax Refund Reporting System is not adjusted.
(2) Pay attention to the fact that when filling in the VAT taxpayer's declaration form (Table 2), the "transferred-out input tax amount" adjusted last year should not be mixed with the "exemption, tax refund and deduction tax amount" of export goods this year, and should be reflected separately.
(3) When "Non-deductible tax" is entered in the "Entry of VAT declaration items" in the "Export Tax Refund Declaration System", only the "Non-deductible tax" of export goods in this year is entered, and the "Transfer-out of input tax" adjusted last year is not considered.
(To be continued)
Discussion on Accounting Treatment of "Exemption, Credit and Refund" Tax (Part III) (Accounting Treatment of Goods Exported and Returned)
Long blog studio Boyue 2005/03/30
Production-oriented export enterprises that implement the tax management mode of "exemption, credit and refund" should make different accounting treatments according to different situations if the goods are declared for export and shipped back.
(1) When the export goods leave customs this year.
According to the original export sales revenue of the returned goods released by the customs, the export sales revenue of the current period shall be offset:
Debit: accounts receivable (or bank deposits) (red)
Loan: income from main business (in red)
Adjust the carry-forward cost according to the return:
Debit: main business cost (in red ink)
Credit: Inventory goods (red letter)
Precautions:
(1) When the export goods are partially returned, the sales revenue offset shall be determined according to the original export sales of the returned goods.
(2) If the exchange rate at the time of export and return changes, the exchange rate at the time of export shall prevail.
(3) In case of customs declaration and return, the export sales revenue shall be offset in the account, and the negative amount shall be declared in the "Export Tax Refund Reporting System" to offset the export sales revenue.
(4) For the goods returned by customs clearance that have been negatively declared in the "Export Tax Refund Declaration System", due to the calculation of "tax exemption and refund" in the declaration system, no tax reduction or exemption will be applied.