会计 外文翻译 外文文献 英文文献 税务会计.docx
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会计 外文翻译 外文文献 英文文献 税务会计.docx
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会计外文翻译外文文献英文文献税务会计
会计外文翻译外文文献英文文献税务会计
TaxAccounting
(From:
SunKun.EnglishLangusgeinAccounting.DongbeiUniversityofFinance&EconomicsPress,2006.)
Taxaccountingisabranchofaccountingthatinvolvesdeterminingthecorrectliability-thatis,theamountowed-fortaxes,andpreparingthenecessarytax-returnforms.
Incometaxesareamajorconcerntobusinessesaswellastoindividuals.Unfortunately,businessmenthemselvesoftendonotunderstandthetaxlaws,andtheymustthereforedependontheadviceoftaxaccountantsandlawyers.Ataxaccountantmusthaveathoroughknowledgeofthetaxcodeofhisorhercountryandofanydivisionswithinitthathavethepowertolevy,orimpose,taxes.
Itiseasytoappreciatetheimpactofincometaxesonbusiness.Carefulplanningdesignedtodecreasethetaxliabilitytothelowestlevelisthusamajorconcernofbusiness.Thisplanningismadepossiblebyvariousprovisionsinthetaxlawsthatofferalternativemethodsforhandlingparticulartransactionsoraccountingprocedures.Onealternativemaythushaveasignificanttaxadvantageoveranother,resultingineitherataxsaving,orpostponementofthetaxliability.Abusinesscanpaysubstantiallymoretaxesthannecessaryifthewrongfinancialdecisionismade.Amongthesepotentiallysignificantdecisionsmightbeincludedtheformofbusinessunderwhichtoorganize,whetherornottosetupmultiplecorporations,andwhichaccountingmethodsshouldbeusedtodealwithinventoryanddepreciation.
CHOOSINGTHERIGHTFORMOFORGANIZATION.Therearethreemajor
formsofbusinessownership:
thesingleproprietorship,thepartnership,andthecorporation.Taxlawsvaryconsiderablyforeachofthese.Inthecaseofboththeindividualproprietorshipandpartnershipformsofbusiness,incomeistaxedtotheindividualproprietororpartners.Theownersofthesebusinessesthereforepaytheprogressiveincometaxrateforindividualsontheirbusinessincome.Aprogressiveincometaxisonethatchargesahigherrateforhigherearnings.
Corporations,ontheotherhand,aresubjecttoataxontheirprofits,whilethestockholdersofacorporationarealsotaxedattheindividualratesonthedividendstheyreceivefromtheseprofits.Dividendsarepaidoutofthecorporation'searnings.Thecorporationisnotallowedadeductionforthedividendsitpaysoutwhenitstaxableincomeiscomputed.Thisresultsindoubletaxationofthecorporation's
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income.
Incertaineases,thedoubletaxiseliminatedorreducedunderspecialprovisionsofthetaxlaws.Underoneprovision,thetaxpayerreceivesadividendexemption(incomenotsubjecttotaxation)upto$100fordividendsreceivedduringthetaxyear.Anotherprovisionallowsacorporationtobetaxedaspartnershipifitmeetsthefollowingrequirementsforasmallbusiness:
(a)Itisadomestic,ratherthanaforeigncorporation.
(b)Ithasnomorethanfifteenstockholders.
(c)Allthestockholdersaredidferentpeople.
(d)Nostockholderisanonresidentalien.
(e)Thereisonlyoneclassofstock.
Whilethesmall-businesscorporationcansaveagreatdealintaxesbybeingtaxedaspartnership,itkeepstheothernontaxadvantages,suchaslimitedliability.
Otherincometaxadvantagesoftenencouragethecorporateformoforganization.Oneoftheseisthepossibilityofsellingthebusinessorliquidatingit;thatis,ofgoingoutofbusinessanddisposingoftheassets.Whenthisoccurs,itispossibletoobtainlong-termcapital-gainstreatment.Along-termcapitalgainisaprofitonthesaleofacapitalassetthathasbeenownedforaspecifiedperiod.Long-termcapitalgainsgetpreferentialtaxtreatment-thatis,halftherateappliedtootherkindsofincome.Asecondpossibletaxadvantageofthecorporatestructureisthedeferralorpostponementofdoubletaxationbysimplynotpayingdividends.Athirdistheflexibilitythatcomesfrombeingabletotimethedistributionofearningssothattheyoccurduringtheyearsinwhichtheownershavethelowesttaxliability.Afourthadvantageisincomesplitting.Thisisaprovisionofthetaxlawsthatallowstheownerofacorporationtodividedividendpaymentsfromthecorporationamongmembersofhisfamilybyhavingeachoneownsomeofthestock.Afifthpossibleadvantageisrelatedtofringebenefits,suchasgrouplifeinsurance,medicalpaymentplans,andwagecontinuationplans,thatprovideforfullorpartialpaymentofwagesandsalarytotheemployeesduringsickness.Manyofthesefringebenefitsareencouragedinthetaxlawsbyallowingdeferredtaxpayments.
CHOOSINGTHERIGHTACCOUNTINGMETHODS.Thechoiceofone
methodorprocedureoverthepossiblealternativescanleadtoataxadvantage.
Somemethodsofaccountingfordepreciationofferataxadvantage.Forexample,inthedeclining-balancemethod,agreaterpercentageofthecostofafixedassetis
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figuredfortheearlieryearsofthelifeoftheasset.Theresultisthatpartofthetaxliabilityisdeferreduntillateryears.
Thereisalsoaspecialtaxcreditforinvestmentinmostkindsofdepreciableassets,withtheexceptionofbuildingsthatareacquiredandplacedinservice.Thiscreditwasinstitutedasmeansofstimulatingnewinvestmentinproductivefacilities.
Therearealsodifferentaccountingmethodsfortheinventory,commonlyknownasFifoandLifo.TheLifomethodmaybebetterfromataxstandpointsincethismethodresultsinalowertaxliabilityinaperiodofrisingprices.UnderLifo,thehigher-pricedgoodsaredepreciatedintheaccountingperiod.
Ataxadvantagealsoexistsforbusinesses-thatsellmerchandiseforpersonaluse.Thesesalesareoftenmadeontheinstallmentbasis,withpaymentsspreadoveraperiodofweeks,months,orperhapsevenyears.Fortaxpurposes,itispermissibletoreporttheprofitfromsalesduringtheyearsinwhichtheactualpaymentsaremaderatherthanduringtheyearoftheoriginalsale.
Ataxadvantageisalsoavailabletotheholdersofmostdepletiveassets-thosewhichareusedup,ordepleted,overaperiodoftime-likeoil,naturalgas,uranium,orcoal.Thetaxpayerwhoownsassetsofthiskindisallowedadeductiononthegrossincomederivedfromtheasset.Thedeductionisknownasadepletionallowance;becauseoftheeconomicimportanceofmanyofthedepletiveassets,thepercentagesallowedtothetaxpayerareofgreatpoliticalconcern.
ACCOUNTINGFORINCOMETAXES.Thebasicaccountingprocedurefor
computingincometaxesisrelativelysimple.ThefinalorestimatedtaxliabilityischargedtotheIncomeTaxExpenseaccountandisdeductedontheincomestatement.TheliabilityiscreditedtotheEstimatedIncomeTaxesPayableaccountandisthenclassifiedasacurrentliabilityonthestatementoffinancialposition.Thereare,however,accountingproblemsthatariseinregardtoincometaxes.Theseproblemsresultfromdifferencesintheamountoftaxableincomeandtheamountofincomereportedontheincomestatement.Thismayresultfromtheuseofdifferentaccountingmethodsfortaxpurposes.
CHINA'STAXSYSTEM.Thewell-to-doinChinahavesnubbedtheir
government.In2007forthefirsttime,anyoneearningmorethan120,000yuan($15,000)annuallyissupposedtofileapersonalincome-taxreturn.YetbythedeadlineofApril2nd(extendedbyacoupleofdaysbecauseoflowcompliance),onlyasmallminorityhaddoneso.Threatsofmassivefineshavegoneunheeded.
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Thegovernment’sembarrassmentwasevidentwhenitmisseditsowndeadlineofApril10thforannouncingthetotaltallyoftaxreturnscompleted.Butofficialshaveestimatedthenumberisaround1.6m.Thenumberofthoserequiredtofileiswidelyreportedtobe6m-7mandcouldwellbemuchhigher.Thosewhohavedonesoalreadyaremostlywageearnerswhohavetaxdeductedfromtheirsalariesandfeeltheyhavenooptionbuttoreporttheirincomesbecausetheyarealreadyinthetaxauthorities’records.
Abigdifficultyfortaxofficialsisthatevensomeofthegovernment’sownmediahavebrokenranksandsuggestedthatthemiddleclasses’obviousdisdainfor
thenewrequirementmaynotbeunreasonable.Confusingly,theannualtaxreturndoesnotsupersedeanexistingmonthlyrequirementtoreportandpaytaxonnon-taxincomeiftotalearningsexceedacertainthreshold.Anewspaperrunbythestateprosecutor’sofficearguethatthetaxadministrationhadnolegalauthoritytofinepeopleforfailingtofilloutreturnsrelatingtoincomeonwhichtheyhadalreadypaidtax.
Butveryfewbothertopaypersonalincometaxunlessitisdeductedautomatically.AssomeChinesenewspapershavepointedout,thisispartlybecausemanyChinesebelievedtheygetlittleinreturnfortheirtaxes.Theyhavetopaythroughthenoseforhealthcareandfordecenteducationfortheirchildren.Theyarealsoresentfulthatfewofficialspaytax,eventhoughmanyhavebigincomesfromshadydealings.
Eventhewords“notaxationwithoutrepresentation”havefoundtheirwayintoprint,inanarticleinthe“informationtimes”,agovernmentownednewspaperinthe
southerncityofGuangzhou.NotingthathalfofthedelegatestoChina’slegislaturewereofficials,thenewspaperreportedthatcommentatorshadpointedoutthattheparliamentshouldhave“fewerofficialsandmoretaxpayers”:
aninterestingdistinctionsuggestingthetaxmanhasstruckarawnerve.
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税务会计
税务会计是会计的一个分支,其主要内容是如何确定正确的税务负债数额,编制纳税申报单。
所得税不论对企业还是对个人都是关系重大的一个事项。
但遗憾的是企业家本身往往不懂税法,他们必须依赖于税务会计和律师们的建议。
一个税务会计师必须对本国的税法有彻底的理解,并且要了解有权课税的有关部门。
我们很容易看清楚所得税对企业经营的影响,因此企业所关心的一个主要问题就是如何进行税务规划,将应付税款降低到最小数额。
做税务规划是十分必要的,因为税法中有不同的条款,这些不同的条款给企业处理某些经济业务提供了多种方法可供选择,这种处理方法可能较之于另一种处理方法在纳税方面有很大的优越性,表现为纳税节省或延后纳税。
如果企业做出了错误的财务
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