Borrow: Inventory goods (or low-value consumables, fixed assets, etc.)
Taxes payable - VAT payable (input tax)
Credit: Bank deposits
2. External gratuitous donations should be regarded as sales in accordance with the provisions of the Value-added tax law The sales tax will be calculated according to the sales amount.
Borrow: Non-operating Expenses - Donation Expenditures
Credit: Inventory Commodities (or low-value consumables, fixed assets)
Taxes Payable - VAT Payable (Sales Tax)
The new tax law provides that Public welfare donations refer to donations made by enterprises through public welfare organizations or people's governments and their departments at or above the county level for public welfare purposes as stipulated in the Public Welfare Donation Law.