The "recorded value of the donated assets determined in accordance with the provisions of the tax law" refers to the value of the donated non-monetary assets and the input VAT paid by the donating enterprise on behalf of the donating enterprise, which are determined on the basis of the relevant certificates and other documents, and the cost of the donated assets, which is separately paid by the donating enterprise, is not included in the cost of the donated assets in accordance with the provisions of the accounting system and the relevant standards. Relevant taxes paid or payable by the donated enterprise in addition to the cost of the donated assets; if the donated assets are monetary assets, the amount actually received. The "recorded value of the donated assets determined in accordance with the provisions of the Accounting System and the relevant standards" refers to the amount that shall be included in the cost of the donated assets in accordance with the provisions of the Accounting System and the relevant standards, including the value of the donated non-monetary assets (excluding the deductible input tax of value-added tax) and the taxes and fees that constitute the cost of the donated assets and that are separately paid by the donated enterprises for the donated assets. The amount of the cost of the donated assets includes the value of the donated non-monetary assets (excluding VAT input tax deduction) and the relevant taxes paid separately for the donated assets, which constitute the cost of the donated assets. Monetary assets here refer to cash, bank deposits and other monetary funds, and assets other than monetary assets are non-monetary assets.
Accounting for donated assets
The recorded value of assets donated to an enterprise in accordance with the provisions of the tax law should be accounted for through the "value of assets to be transferred" account. Enterprises should be set up under the "value of assets to be transferred" account "acceptance of donations of monetary assets value" and "acceptance of donations of non-monetary assets value" two detailed accounts.
Enterprises to obtain the donation of monetary assets, should be based on the actual amount obtained, debit "cash" or "bank deposits" and other subjects, credit "to be transferred to the value of assets - the value of accepting the donation of monetary assets The non-monetary asset donations obtained by the enterprise should be determined in accordance with the accounting system and relevant standards to determine the recorded value, debit "inventory", "fixed assets", "intangible assets", "", "", "", "", "", "", "", "", "", "", "", "", "", "", "" and "". intangible assets", "long-term equity investment" and other accounts, general taxpayers involved in deductible VAT input tax, according to the deductible VAT input tax, debit "Taxes Payable - VAT Payable (Input Tax)". According to the recorded value of the donated assets determined in accordance with the provisions of the Tax Law, credit the account "Asset Value to be Transferred-Value of Non-monetary Assets Accepted for Donation", and according to the amount paid or payable by the enterprise due to the donation of the assets, credit the accounts "Bank Deposits", "Accounts Payable", "Accounts Receivable" and "Accounts Payable". ", "tax payable" and other subjects.