Calculation formula of local education surcharge
Additional education fees payable or local education fees = paid-in value-added tax and consumption tax × collection rate (3% or 2%)
The surcharge for education paid by enterprises is accounted for by the subject of "Taxes payable-surcharge for education payable", and the specific accounting entries are as follows:
Cumulative time:
Borrow: taxes and surcharges
Loan: Taxes payable-education surcharge
Extra time to pay for education:
Borrow: Taxes payable-education surcharge
Loans: bank deposits
Under the new accounting system, all the "educational surcharge payable" are merged into the "tax payable" subject.
Additional education fees shall be collected by local tax authorities within their respective jurisdictions.
Taxpayers who fail to pay the surcharge for education within the prescribed time limit shall be punished and pay late fees.
The value-added tax and consumption tax levied by the customs on imported products shall not be subject to additional education fees.
What are the differences and similarities between education surcharge and local education surcharge?
1. education surcharge is a government fund allocated by the state to support education development.
2. In order to develop local education, some local governments have also levied "local education surcharge" according to the provisions of the Education Law.
What they have in common is that they are all government funds, which are collected together with taxes and used for education.
4. The biggest difference between the two is that the education surcharge policy is formulated by the central government and has a large scale. The local education surcharge is set by the local government itself (it may need to be reported to the Ministry of Finance for the record), and the income scale will be relatively small.