How to count VAT?

Elena Minkina
Elena Minkina
August 16, 2012
How to count VAT?

There is no special law on VAT in Russia, but a whole section of the Tax Code (Chapter XXI) is devoted to it. Without specifying the value added tax, it is not possible to correctly draw up a sales contract. Therefore, every accountant should know how to count VAT. The calculation of VAT should be carried out carefully and without errors, because for improper payment of this tax provides for serious penalties.

VAT is not required to pay all businesses. Firms and individual entrepreneurs, whose annual income does not exceed a certain amount, are exempt from tax payment. In addition, all enterprises and firms operating under the simplified taxation scheme are exempt from paying VAT.

Interest rates of VAT depend on the type of products sold. Tax rates are determined by the article 164 of the Tax Code of the Russian Federation. The maximum VAT rate is 18%, and it is the main one used in most operations. When selling certain medical products, goods for children and food products, a preferential VAT rate of 10% is used.If goods are intended for export, then for them the tax rate is 0%.

How to calculate VAT: formulas

In order to calculate the value of the goods including VAT, you should use the following formula:

SVAT= S * 1.18, where S is the value of the goods without VAT.

Sometimes in the practice of an accountant, a situation arises when, knowing the value of a product with VAT, it is necessary to calculate the VAT and the value of the same product without value added tax. To do this, you can use the formula: S = SVAT/ 1.18. Now, knowing the value of the goods with VAT, its value without VAT, it is easy to calculate the amount of tax itself: VAT = SVAT- S.

How to calculate VAT 18%: maximum rate

In order to calculate the VAT of 18%, the cost of the products sold, excluding VAT, should be divided by 100, and the result multiplied by 18. Consider this with a simple example. For example, the cost of goods sold is 3,500 rubles. Then 3500/100 * 18 = 630. The amount obtained as a result of these calculations should be added to the value of the goods sold: 3500 + 630 = 4130. Thus, the cost of goods including VAT is 4130 rubles.

How to calculate VAT with 1C program

If an accountant uses the 1C program in his work, then the value added tax is calculated automatically.When you make an invoice and invoice, the accountant simply sets the VAT rate in a special tab, and the program calculates it itself.

If a firm sells a product that is subject to a zero rate of value added tax, then the accountant must submit to the tax inspectorate relevant documents on the basis of which the VAT is refunded.

Date: 09.10.2018, 05:22 / Views: 35165

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