General Methods Of Accounting For Taxes And Fees In China

Summary of relevant tax and fee accounting methods

1. property tax, vehicle and ship use tax, land use tax and mineral resources compensation fee:

Borrowing: management costs

Loan: payable

Note: property tax and land use tax related to investment real estate are debited "business tax and additional" and credited to the tax payable.

Two

(in the process of leasing negotiations and signing of the lease contract, the initial direct expenses that can be assigned to the rental items, such as handling fee, lawyer fees, travel expenses and stamp duty, are also included in the value of fixed assets of the finance lease.

The stamp duty payable on the purchase of equity investment shall be included in the initial investment cost of equity investment.

Borrowing: management costs

Loan: bank deposit

3. business tax, consumption tax, urban maintenance and construction tax, resource tax and education surcharge:

Business tax and additional

Loan: tax payable

4. deed tax and vehicle purchase tax:

Borrowing: fixed assets / intangible assets

Loan: bank deposit

5. land value increment tax:

(1) the land use rights pferred by general enterprises together with the buildings and their attachments on the ground are accounted for in the "fixed assets" and other subjects.

Borrowing: fixed assets liquidation

Loan: tax payable should be paid to land.

2. The general enterprise's right to the use of land shall be paid according to the actual amount received in the calculation of intangible assets.

Borrow: bank deposit

Accumulated amortization

Loans: intangible assets

Tax payable should be payable to land increment tax.

Outside income (or borrowing: outgoing expenses)

3. Enterprises engaged in real estate business and real estate development enterprises shall be accounted for by the land value added tax of the current period through the "business tax and additional" subjects.

Borrow:

Gold and accessories

Loan: tax payable, land value added tax payable.

6. when the enterprise calculates the farmland occupation tax according to the regulations,

Borrow: in construction

Loan: bank deposit