Fiscal And Tax Treatments Stipulated In Different Interest Clauses In Loan Contracts

The different interest clauses stipulated in the agreement will determine how the enterprise carries out the accounting and tax treatment, because the tax policies on the basis of different interest clauses stipulated by the finance and tax treatment are different.

(1) legal basis

1. Legal provisions on the time of tax payment for enterprise income tax on interest income

Article eighteenth of the regulations on the implementation of the enterprise income tax law of the People's Republic of China (No. 512 of the State Council of the People's Republic of China) stipulates: "interest income shall be recognized according to the date of the debtor's interest payable under the contract."

2, the legal requirements for the duty time of business tax

The twelfth provision of the Provisional Regulations on business tax of People's Republic of China (No. 540th of the State Council of the People's Republic of China) stipulates: "the duty time for business tax payment is the day when taxpayers provide taxable services, pfer intangible assets, or sell real property and receive receipts from business income or obtain the credentials for obtaining business income."

Based on the twelfth provision of the Provisional Regulations on business tax of the People's Republic of China (540th decree of the State Council of the People's Republic of China), there must be three conditions for the occurrence of the duty of business tax: one is to provide taxable services for taxpayers, to pfer intangible assets or to sell real property; two is to receive receipts from business receipts or to obtain evidence for obtaining business receipts; three, the above two conditions must be simultaneously possessed, and if there is no "simultaneous possession", there is no duty to pay tax on business tax.

According to the above analysis of tax payment time, the business tax on interest income on loan and the duty time of enterprise income tax are the time of interest payment stipulated in the loan contract.

In practice, there are two kinds of interest clauses in loan contracts: one is the payment of interest at the end of the contract in the contract, and the other is the interest payment at the first time and the principal repayment at the same time. Two

The two different interest clauses have different financial and tax treatments in practice.

Examples are as follows:

Case analysis

The loan contract of an enterprise shall first pay interest at once and return the principal.

1, the introduction of the case

In January 1, 2015, an enterprise lent 10 million yuan to another enterprise, with an annual interest rate of 12%. The loan contract stipulate that the borrowing period is 3 years, and the interest rate will be repaid in January 1, 2015.

How about the accounting and tax treatment of the company?

2, accounting treatment

The accounts payable by the company at interest of 3 million 600 thousand yuan are as follows:

Borrow: bank deposit 3 million 600 thousand

Loan: advance account 3 million 600 thousand

At the same time, the monthly accounts of the company's revenue recognition are as follows:

Borrow: advance account 100 thousand

Loan: other business income 100 thousand

3, tax treatment

First of all, when the enterprise income tax was declared in the first quarter of 2015, the enterprise income tax was declared at 3 million 600 thousand yuan. In January 1, 2015, interest income of 3 million 600 thousand yuan produced the business tax duty time.

Secondly, when we declare the corporate income tax in the first quarter of April 2015, we need to make an entry.

Borrower: deferred income tax assets (360-30) x 25%=80 (10000 yuan)

Loan: income tax expense -- 800 thousand yuan for enterprise income tax.

In the second, third and fourth quarters of 2015, and 2016, 2017 and 2018, the accounting treatment of enterprise income tax quarterly is as follows:

Borrowing: income tax expense -- enterprise income tax should be 30 x 25%=7.5 (10000 yuan).

Loan: deferred income tax assets 7.5

Finally, when the enterprise income tax is calculated and paid in 2015 in 2016, we should fill in the A105020 "detailed list of income tax adjustments not made according to accrual basis".

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