If the donor does not provide a special VAT invoice or relevant value certificate, the estimated amount can be estimated by referring to the market price of similar and similar inventories. Plus the relevant taxes and fees that should be paid. It is confirmed as the recorded value.
Relevant accounting entries:
1. Receiving donations for recording:
Debit: inventory account
Taxes and fees payable-VAT payable (input tax) (if the donor provides a special VAT invoice)
Loan: value of assets to be transferred-value of non-monetary assets accepted for donation
Bank deposits and. Carry-over:
Borrowing: the value of assets to be transferred-the value of non-monetary assets accepted for donation
Lending: taxes payable-income tax payable
capital reserve-reserve for non-cash assets accepted for donation
In addition, if the amount of donations received is relatively large, with the approval of the competent tax authorities, it can be included in the annual tax income in installments to pay income tax.
During the epidemic period, self-produced goods can be donated. How to make accounts
Case
Company A is a medical device company, and its products can be used to prevent and control the COVID-19 epidemic. The company decided to donate all the products produced in January to a hospital in Wuhan, Hubei Province (the hospital undertakes the epidemic prevention task) for fighting the epidemic. The raw materials used in this batch of products were purchased in December 219, and a special VAT invoice was obtained (which was not certified in that month), with an amount of 1 million yuan and a tax of 13, yuan. In January, 22, we are going to declare the deduction of input tax. In addition to the cost of raw materials, we also need other costs of 5, yuan (assuming that there is no deductible input tax), and the market price is 3 million yuan without tax. Then, how to pay taxes and make accounts for the epidemic prevention and control materials donated by the company?
Analysis
According to Announcement No.9 of the State Administration of Taxation of the Ministry of Finance in 22, if a company donates its own goods to the state organs such as the people's governments at or above the county level for free to deal with the pneumonia epidemic in novel coronavirus, it will be exempted from value-added tax, consumption tax, urban maintenance and construction tax, education surcharge and local education surcharge.
Does this business need to be invoiced, whether it is a special ticket or a general ticket, and how to choose the tax rate?
(1) It is recommended to make out an invoice, which is an important evidence for determining the pre-tax deduction amount.
Hospitals undertaking epidemic prevention and control tasks according to regulations need to issue a donation acceptance letter when receiving donated materials, which generally includes information such as the name, brand, quantity and specifications of donated materials, and the determination of the amount requires evidence such as invoices. In addition, according to the principle of comparison of value-added tax declaration, tax-free income also needs to be declared. In order to avoid inconsistency in declaration and comparison, it is recommended to make out an invoice.
according to article 3 of State Taxation Administration of The People's Republic of China Announcement No.4 in 22, the policy of exemption from value-added tax is applicable, and ordinary invoices should be issued instead of special tickets, and the tax rate column should be "tax exemption".
In addition, according to article 2 of Guoshuihan No.828 [28], assets used by enterprises for foreign donations should be regarded as sales. That is, although the donation is exempt from turnover tax, enterprise income tax is required.
according to the regulations, the input tax for the items exempted from value-added tax cannot be deducted, and the input tax of this batch of materials that cannot be deducted needs to be included in the cost (first included in the material cost, and finally carried forward to the product cost), which is equivalent to the material cost of this batch of products of 1.13 million yuan (1+13). Product cost = 113+5 = 1.63 million yuan.
Accounting method 1:
(1) Accounting entries:
Borrowing: non-operating expenses 163
Lending: inventory goods 163
(2) Tax adjustment
According to regulations, free donations are regarded as sales, which are settled in enterprise income tax. Non-operating expenses increased by 1.37 million yuan (3-163 Directly confirm income, with the following entries: (1) Confirm income and carry forward donated expenses Borrow: non-operating expenses 3 Loan: operating income 3 (2) Carry forward donated products. Affected by the epidemic, the tax bureau has also issued some preferential policies. If the financial enterprises are benefited, they should also be different in making accounts and paying taxes. If the financial people don't know how to complete the accounting, they can come to the website and communicate with the teachers one-on-one to solve it.