If it is a government subsidy that has already been incurred,
Borrow: bank deposits,
Credit: other income.
If it is a subsidy for future expenses, the accounting treatment is,
Borrow: bank deposits,
credit: deferred income.
If the government grants are earmarked for specific purposes,
Borrow: bank deposits,
Loan: special accounts payable.
Fuel subsidy:
With the salary or monthly, it should be included in the employee welfare costs, the tax declaration when combined with wages and salaries to declare the calculation of personal tax.
According to Article 4, Paragraph 4 of the Chinese People's **** and State Individual Income Tax Law and Article 14 of the Regulations for the Implementation of the Chinese People's **** and State Individual Income Tax Law: Welfare expenses are exempt from individual income tax. The welfare expenses mentioned here refer to the living allowance paid to individuals from the welfare expenses or labor union funds set aside by enterprises, institutions, state organs and social organizations according to the relevant state regulations; according to the Circular of the State Administration of Taxation on the Determination of the Scope of the Living Allowance, Guoshifa [1998] No. 155, the following incomes do not belong to the scope of tax-exempted welfare expenses, and they should be merged into the income of the taxpayers The following incomes do not belong to the scope of tax-free welfare expenses and should be included in the taxpayer's salary and wage income for the purpose of individual income tax:
(1) All kinds of subsidies and allowances paid to individuals from welfare expenses and trade union funds that are beyond the proportion or base of the State;
(2) Subsidies and allowances for everyone paid to the employees of a unit from welfare expenses and trade union funds;
(3) Purchase of automobiles and housing by a unit for an individual, (c) Expenditures for the purchase of automobiles, housing, electronic computers, etc. by the unit for individuals, which are not of the nature of temporary hardship assistance.
How to receive government grants?
1. used to subsidize the sales of goods
Borrow: bank deposits
Credit: income from main business
Taxes payable - VAT payable (input tax)
2. used to recognize the apportionment
Borrow: bank deposits
Credit: deferred income
Borrow: deferred income
Credit: other income
Credit: other income
Credit: other income
Credit: other income
Credit: other income
Credit: other income
Credit: other income
Credit: other expenses p>credit:other income
3.Receiving government subsidies not related to ordinary activities
borrow:bank deposits
credit:non-operating income
4.Receiving government subsidies related to ordinary activities
borrow:bank deposits
credit:other income
Financial subsidies are paid to enterprises by the treasury under the structure of a determined economic system. Fiscal subsidies are non-reimbursable expenditures paid by the treasury to enterprises and individuals under a certain economic structure, which can change the relative prices of existing products and factors of production, and thus change the structure of resource allocation, supply structure and demand structure.
Fiscal subsidies are a form of redistribution in which the state, in order to carry out specific economic, political and social objectives, grants a portion of its financial resources to enterprises and residents free of charge.
According to the project and form of financial subsidies classification, the main price subsidies, enterprise loss subsidies (limited to state-owned enterprises, also known as planned loss subsidies), foreign trade subsidies, rent subsidies, employee living subsidies, financial subsidies and so on.