Accounting of financial results and payments into budget funds from tax on profits (an advisory article).

摘要

The paper outlines procedures for accounting and profit tax calculation with particular reference to enterprises in the Russian Federation. Profit tax is payable by organisations which are legal entities, including those receiving foreign investment. This does not apply, however, to organisations deriving their income from sales of their own agricultural produce, including that processed by themselves. It is essential that accounting and tax returns also reflect non-sales income and expenditure such as dividends, income from rented assets and outgoings on orders subsequently cancelled. Taxpayers must ensure separate accounting for all types of activity, particularly where enterprises are multi-profile. Where tax is paid in advance, it should be defined according to the expected sum of profits for the period or quarter and the current taxation rate and paid by the 15th day of each month. The difference between the sums of tax payable on actual profits and in advance is subject to precise definition by the refinancing rate set by the Central Bank and in force on the 15th of the second month of each quarter. Since January 1997 all organisations have been entitled to move to monthly payment of profit tax. Smaller ones pay on a quarterly basis.