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撩一撩ACCA知识点 | FA(F3) Sales Tax
文章来源：中博教育
发布时间：2018-08-10 15:59
阅读：4013次
做为ACCA的三大基础学科之一的FA，其知识点贯穿始终，为了让大家更方便的记忆，学服君邀请Sarah Wu老师给大家详细介绍一下ACCA FA(F3)知识点Salex Tax。
一、讲师介绍
Sarah Wu
ACCA准会员
Sarah毕业于广东金融学院，毕业后曾就职于德资企业的财务部门，现任中博全职讲师，教授FA,TX和FR,其活泼大方，循循善诱的教学风格，受到的学员们的一致认可。
二、background
Sales tax is levied on the final customer of a product.Unless they are the final consumer of the product or service then a business that is registered for sales tax is essentially the collection agent for the relevant authority.
三、Brief introduction
Sales tax is charged on purchases(input tax)and sales(output tax).A business registered for sales tax will effectively pay over the sales tax it has added to its sales and recover the sales tax it has paid on its purchases.To this end the business incurs no sales tax expenses and earns no sales tax income.Therefore,sales tax is excluded from the reported sales and purchases of the business,and the sales tax is the national tax income instead of the business’s income.
Periodically(often every 3 months)the business calculates the total amount of sales tax is the difference between the output tax and the input tax.(Sales tax payable to authority=output tax–input tax)
Sales tax is charged on the selling price of the product.So when calculating of the sales tax,you will encounter with the“tax inclusive price’or“tax exclusive price”.
For example,if the tax inclusive price is$120,and the sales tax rate is 20%,the net selling price should be calculated as“$120/(1+20%)=$100”.
四、Accounting entries for sales tax
1.Sales tax paid on purchases(input tax)
Dr.Purchases–excluding sales tax(net cost)
Dr.Sales tax–input tax
Cr.Payables/cash–including sales tax(gross cost)
2.Sales tax charged on sales(output tax)
Dr.Receivables/cash–sales price including sales tax(gross selling price)
Cr.Sales–selling price excluding sales tax(net selling price)
Cr.Sales tax–output tax
五、Settlement discount and sales tax
Settlement discount should be deducted in the calculating of sales tax only if the credit customer have take the advantage of the settlement discount.
六、Tax registered and non-tax registered company comparison
Tax registered company normally have the rights to make purchase input tax recoverable from sales output tax to pay net amount whereas non-tax registered company should transfer unrecoverable input tax into purchase or assets cost account since they’re not allowed to deduct input tax from output tax.
Finally,sales output tax is normally larger than input tax whereby there’s tax payable owing to tax office,however rare case does happen when input tax surpasses sales output tax,which the net result is called as tax refund to be waiting for the offset with next period sales output tax.
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讲师认证：财政部会计准则委员会专家 财政部，教育部全国财经教材高级会计实务编写作者 财政部，注册会计师协会继续教育教材编写组作者 河南省会计继续教育教材编写组作者
财政部会计准则委员会专家； 财政部，教育部全国财经教材高级会计实务编写作者； 财政部，注册会计师协会继续教育教材编写组作者； 河南省会计继续教育教材编写组作者； 曾担任16年上市公司财务顾问，德勤会计师事务所，致同会计师事务所特聘高级审计顾问。 从事大学生、研究生会计教学二十余年，方向班教学平均过级率超过80%，将幽默与严谨完美融合，是学生眼中“最严谨，最专业的注册会计师老师”。
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