Every year in the final settlement of enterprise income tax, the most troubling thing is undoubtedly the adjustment of tax differences. In the end, tax adjustment or tax reduction often needs to be clear. Today, we will analyze how tax adjustment should be made when accounting for depreciation of fixed assets is inconsistent with tax law.
Such asAcompany2019years12month31If one piece of equipment that does not need to be installed is purchased every day, the equipment price indicated on the special VAT invoice obtained is600RMB ten thousand yuan, the deductible VAT input tax is78RMB 10,000 yuan, the amount has been paid through the bank, the expected service life of the equipment is 5Year, the estimated net salvage value is 0.AThe company adopts the double declining-balance method for depreciation, while the tax law stipulates that it adopts the straight-line method for depreciation. The useful life and estimated net salvage value are the same as the accounting. theAcompany2020How much depreciation is the annual accounting and tax law respectively?
()1) in accountingAThe company calculates depreciation by the double declining-balance method:
Annual depreciation rate=2/5*100%=40%
20Annual depreciation=600*40%=240Ten thousand yuan
(2) tax lawAThe company calculates depreciation according to the straight-line method:
20Annual depreciation=600*5=120Ten thousand yuan
When the corporate income tax is settled,AThe corporation depreciation tax Act recognizes that120Ten thousand yuan, and the actual depreciation included in the cost expense is240Ten thousand, the cost of depreciation will be added240-120=120If ten thousand yuan needs to be adjusted for tax increase, it needs to pay more in the current year120*25%=30Ten thousand yuan,Any excess tax paid in one year will be recouped through tax deductions after the third year.
CycloseThe company is committed to providing domestic and foreign customers with corporate audit, tax declaration, registration, annual inspection, tax planning and other services in Hong Kong, Singapore, Dubai and other regions. Efficient, rigorous, intimate service has been favored by many private enterprises, listed companies and large state-owned enterprises.