Discussion on Important Problems of Corporate Income Tax Accounting Treatment

Abstract

With the rapid development of the Chinese market economy system, income tax as an economic lever has become more and more prominent in regulating the economy. Since the beginning of the accounting reform, the Ministry of Finance has promulgated the accounting standards for income tax and put forward the corresponding procedures and methods, which is a leap forward in the development process of domestic income tax accounting. The relationship between income tax and accounting, the nature of income tax, and the basic characteristics and the apportionment of income tax accounting are expounded in this paper. Payable tax with impact accounting regulations, deferred with debt regulations, and balance sheet debt with income statement debt regulations are compared given the existing problems in the accounting treatment of domestic income tax, and the choice of applicable treatment methods are discussed. Finally, the accounting treatment of important income tax such as consolidated accounting statements, construction enterprises, tax losses, and discount of income tax liabilities are analyzed, and the treatment methods and corresponding countermeasures are put forward to improve the domestic income tax accounting problems.