Income tax

Profit tax is a direct tax levied on the profits of an organization (enterprise, bank, insurance company, etc.). Profit for the purposes of this tax is usually defined as the income from the company's activities minus the amount of deductions and discounts.
Deductions include:
production, commercial, transportation costs;
interest on debt;
expenses advertising and representation, while all advertising costs should be divided into two types:
expenses that are taken into account when taxing in full;
expenses that are taken into account when taxing within 1 percent of revenue;
expenses for research work s (expenses related to the creation of new or improvement of manufactured products, applied technologies, methods of organizing production and management);
expenses for training, vocational training and retraining of employees of the taxpayer organization (in this case, employees must be trained on the basis of an agreement with Russian educational institutions having state accreditation and license, and only specialists who have concluded an employment contract with the organization can be trained).
Tax is charged on the basis of tax declarations at proportional (less often progressive) rates.
Russian practice
In the Russian Federation, income tax payers are (p. 1 tbsp. 246 of the Tax Code):
- Russian organizations;
- foreign organizations operating in the Russian Federation through permanent missions and (or) receiving income from sources in the Russian Federation.
Income tax rate is - 20% , of which 2% is credited to the federal budget, 18% - to the budget of a constituent entity of the Russian Federation (Clause 1, Article 284 of the Tax Code).
Profit is defined as the amount of income reduced by the amount of expenses (Article 247 of the Tax Code). All income of the organization is divided into taxable and non-taxable income tax. The list of the latter is contained in Article 251 of the Tax Code of the Russian Federation and is closed. All income that is not mentioned there is automatically taxed on income.
Costs are also subdivided into expenses that reduce and do not reduce taxable income. Formally, the list of expenses that are not taken into account when calculating income tax is listed in article 270 of the Tax Code of the Russian Federation. However, this does not mean that all other costs automatically reduce taxable profit.
Conditions for accounting for expenses when calculating income tax
In order for expenses to be taken into account when calculating income taxes, the following conditions must be met simultaneously:
- amount of expenses must be documented (paragraph 1 of article 252 of the Tax Code). Deficiencies in primary documents often become the basis for refusing to recognize expenses in tax accounting;
- the expense should be economically justified (Clause 1, Article 252 of the Tax Code of the Russian Federation). For example, if a sports simulator buys a regular grocery store, then inspectors can say that such a purchase is not related to activities aimed at generating income. And in the end, refuse to recognize the expense;
- the expense must be actually incurred (paragraph 1 of article 252 of the Tax Code). For example, if the seller organization reflects the transportation costs of transporting goods from Kirov to Moscow, but the buyer actually took the goods to Kirov, then the costs of fictitious transportation of goods will not reduce taxable profit;
- the expense should not be mentioned in article 270 Tax Code of the Russian Federation. In particular, if an organization pays its employees an evening of bowling entertainment, then it will not be able to recognize expenses for it in tax accounting, since clause 29 of article 270 of the Tax Code of the Russian Federation directly prohibits taking into account expenses for recreation and entertainment of workers;
- the amount of expenses, which is standardized in accordance with the Tax Code of the Russian Federation, does not exceed the established limit. So, advertising costs are recognized in tax accounting only within 1% of the amount of revenue for the reporting period (paragraph 4 of article 264 of the Tax Code). Representation expenses - within 4% of labor costs for the reporting period (paragraph 2 of Article 264 of the Tax Code). Interest on loans and credits - within the average interest on debt issued on comparable terms, or within the refinancing rate of the Central Bank of the Russian Federation, increased 1.1 times (paragraph 1.1 of Article 269 of the Tax Code of the Russian Federation). Amounts of expenses that exceed the established limit do not reduce taxable profits in principle;
- separate accounting rules are not prescribed for expenses. In the Tax Code of the Russian Federation there are a number of costs that are accounted for separately. For example, income and expenses from operations with securities are accounted for separately from the general base (Clause 8, Article 280 of the Tax Code of the Russian Federation). And if the sum of expenses on operations with securities turns out to be more than the amount of income, then the resulting loss will not be able to reduce the tax base for ordinary operations (Clause 10, Article 280 of the Tax Code of the Russian Federation). As a result, the profit tax is levied on the difference between taxable income and expenses that reduce the tax base of the reporting period.
The period for recording income and expenses in tax accounting
The tax period for income tax is a calendar year (paragraph 1 of Article 285 of the Tax Code of the Russian Federation). The reporting period depends on the choice of taxpayers (paragraph 2 of Article 285 of the Tax Code). For those who choose quarterly reporting, the reporting period is I quarter, six months and 9 months (the most common choice). For those who choose monthly reporting, the reporting period is 1 month, 2 months, 3 months, ..., 11 months.
Taxable income is calculated based on the income and expenses of the reporting or tax period. But it can be calculated in two ways: on an accrual basis and on a cash basis.
With the cash basis, the taxpayer reflects income in tax accounting as money is received to the account or cash desk, other property, work, services or property rights are received or debts are paid off in another way (Clause 2, Article 273 of the Tax Code of the Russian Federation). Similar rules apply to expenses, they are recognized only after their actual payment (clause 3 of article 273 of the Tax Code). But this method can be used only by organizations whose average income over the previous four quarters of the sale of goods, work or services from VAT does not exceed 1 million rubles. for each quarter (paragraph 1 of Article 273 of the Tax Code of the Russian Federation).
Most taxpayers exceed the established limit, therefore they are required to apply the accrual method. In this case, income is recognized in the period in which it occurred regardless of the actual receipt of money or other payment (Clause 1, Article 271 of the Tax Code of the Russian Federation).
To illustrate, suppose that the organization sold goods worth 1 million rubles. March 30 (this is I quarter), but I did not receive money for the delivery. Under the accrual method, revenue of 1 million rubles. is considered to be received in the I quarter, since the sale took place, therefore, the organization must pay income tax no later than April 28 (paragraph 1 of article 287, paragraph 3 of article 289 of the Tax Code of the Russian Federation).
The period of recognition of expenses under the accrual method also has its own characteristics. The organization is obliged to recognize certain expenses before they occur in accordance with the terms of the contract. For example, an organization received a loan for several years with payment of interest in one amount at the end of the loan term. However, for tax accounting purposes, the borrowing company is obliged to recognize interest as an expense on a monthly basis (Clause 8, Article 272 of the Tax Code of the Russian Federation).
A number of expenses of the Tax Code of the Russian Federation are required to be reflected in later periods compared to the period of their payment. This is especially vividly demonstrated by the example of direct and indirect costs (Article 318 of the Tax Code of the Russian Federation).
The taxpayer himself determines what expenses are directly related to production, that is, they are direct. By default, these include material costs, labor costs of production workers, taking into account insurance premiums and depreciation of production equipment (Clause 1, Article 318 of the Tax Code of the Russian Federation). Such costs reduce taxable profits in proportion to the volume of products shipped to customers. The taxpayer establishes a specific procedure for recognizing direct costs on the basis of the characteristics of his production, however, in general terms the mechanism is described in article 319 of the Tax Code.
We illustrate the general mechanism by example. Suppose in the I quarter of the direct costs of the organization for the production of 800 units. finished products amounted to 800 thousand rubles. If the company ships 100 units to customers in the same period of this finished product (excluding stock balances), then its taxable profit in this period will reduce direct costs in the amount of 100 thousand rubles. If it ships 500 units, then 500 thousand rubles. The remaining amount will be taken into account in the following periods as products are shipped.
All other expenses are indirect and are recognized in tax accounting during the period they are incurred (Clause 2 of Article 318 of the Tax Code of the Russian Federation).
Income tax payment system
The income tax is paid based on the results of the tax period, that is, the calendar year, no later than March 28 of the next year (paragraph 1 of article 287, paragraph 4 of article 289 of the Tax Code). However, for a more uniform filling of the budget, the legislator has provided advance payments of income tax, which the taxpayer must pay every month no later than the 28th day (Clause 1 of Article 287 of the Tax Code of the Russian Federation).
When reporting monthly, the taxpayer pays an advance payment based on the actually received taxable profit (Clause 1, Article 287 of the Tax Code of the Russian Federation).
With quarterly reporting, advance payments are made according to a more complex scheme, since the amount of taxable profit is determined only on the basis of the quarter. In this case, the simplified amount of the monthly payment is calculated as 1/3 of the advance payment for the previous quarter (Clause 2 of Article 286 of the Tax Code of the Russian Federation).
Let us give an example. For the I quarter, the taxable profit of the organization amounted to 1.5 million rubles. The income tax from it will be equal to 300 thousand rubles. (1,500,000 rubles. X 20%). In this case, no later than April 28, she must transfer a monthly advance payment in the amount of 100 thousand rubles. (300,000 rubles. X 1/3), May 28 - 100 thousand rubles. and June 28 - 100 thousand rubles. Further, on the basis of a half-year declaration, the actual advance payment for the II quarter amounted to 360 thousand rubles. Therefore, no later than July 28, the organization is obliged to pay another 60 thousand rubles for the second quarter. (360 000 rub. - 300 000 rub.) And transfer the monthly advance payment for this month. Its amount for the III quarter will be calculated on the basis of 360 thousand rubles. and will amount to 120 thousand rubles. monthly.
If, in the given example, the actual advance payment for the II quarter is 30 thousand rubles, then the company will have an overpayment of 270 thousand rubles. (100,000 rubles. X 3 months. - 30,000 rubles.). In this case, the monthly payment for the III quarter will amount to 10 thousand rubles. (30 000 rub. X 1/3).
Notes
Links
Profit tax of budgetary institutions. Articles and news
Corporate income tax in the legislation of the Russian Federation
Corporate income tax
Taxes in Russia
Federal taxes and fees
VAT • Excise tax • Personal income tax • UST • Corporate income tax • Fees for the use of wildlife and for the use of aquatic biological resources • Water tax • State duty • Mineral extraction tax
Regional taxes
Transport tax • Gambling tax • Corporate property tax
Local taxes
Land tax
Special tax regimes
Unified agricultural tax • Simplified taxation system • UTII • Taxation system when implementing production sharing agreements
Other - Tax Code • Federal Tax Service • Customs duties

Taxes in the world
Direct taxes
Property tax | Income Tax | Mining tax | Transport tax | Land tax | Water tax | Biological Resource Tax | Gambling Tax | Childless Tax | Capital Gains Tax
Indirect Taxes | Value Added Tax | Sales tax | Excise taxes | Environmental tax
Historical taxes
Unified social tax | Housing Tax | Zverina file | Chimney Tax | Tax on public toilets - Tribute - Duality | Lesson | Yasak | Zaborozhnoe | Submit | Tax | Food Survey
Collection
State Duty | Customs Duty | Washed | Iron | Inducta | Evecta | Shield money | Stamp duty | Garntz collection
Contribution
Danish money | Reparations | Restitution - Other - Taxation | Tax | Penalty
Non-tax
Insurance premium | DROP | Chinsh | Farmer


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