Local education additional tax rate
The surcharge for education is uniformly levied at 3% of consumption tax, value-added tax and paid tax; Local education surcharges are uniformly levied at 2% of consumption tax, value-added tax and paid tax.
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 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.
What are taxes and surcharges?
Taxes and surcharges reflect the consumption tax, urban maintenance and construction tax, urban land use tax, resource tax and education surcharge that the enterprise should bear in its main business.
At the end of the period, the balance of this account should be transferred to the "profit of this year" account, and there should be no balance in this account after the carry-over. Because the accounting method of goods sold by installments is different from before, the subject of "long-term receivables" is added.
What is the tax payable?
Taxes payable refer to all kinds of taxes that should be paid by enterprises according to the operating income and profits achieved in a certain period of time and in accordance with the provisions of the current tax law.
This course should be detailed accounting according to the tax payable.
The credit balance at the end of this course reflects the unpaid taxes and fees of the enterprise; If it is the final debit balance, it reflects the tax overpaid or not deducted by the enterprise.