How to make accounting entries for added value tax deduction?
Release time：2019-12-26 Browse times：3480
Answer:
Taxpayers providing postal service, telecommunication service, modern service and life service who meet the requirements may add or deduct value-added tax according to the regulations. When actually paying value-added tax, the following accounting treatment shall be carried out:
Debit "taxes payable - unpaid value added tax" and other subjects according to the amount of tax payable, credit "bank deposit" subject according to the actual amount of tax paid, and credit "other income" subject according to the amount of addition and deduction.
That is, when the VAT is actually paid:
Debit: taxes payable - unpaid VAT, etc
Credit: bank deposit
Other income
Telephone
Email
Address
