Is Cash Income Taxable?

Taxable income refers to the balance of all taxable income obtained by a taxpayer in a certain period determined in accordance with the tax law after deducting various expenses permitted to be deducted in accordance with the law during the tax period, and is the basis for calculating the corporate income tax. The taxable income stipulated in the Enterprise Income Tax Law refers to the total income of an enterprise for each tax year, after deducting non-taxable income, tax-exempt income, various deductions, and allowable previous year losses to be made up. The taxable income of an enterprise is calculated on the accrual basis and belongs to the current income and expenses. Regardless of whether the payment is received or paid, it is regarded as the current income and expenses; it does not belong to the current income and expenses, even if the money has already Receipts and payments are not regarded as current income and expenses. Except where otherwise provided by the State Council's finance and tax authorities. ^[1]

Taxable income

Confirmation of taxable income:

The taxable income of an enterprise is calculated on the accrual basis. It belongs to the current income and expenses, regardless of whether the payment is received or paid, it is regarded as the current income and expenses; it does not belong to the current income and expenses, even if the money is already in the current income , Are not regarded as current income and expenses.

The total income recognized by the A company in financial accounting in 2011 was 12.5 million, of which: the state financial subsidy was 100,000 yuan, and the national debt interest income was 200,000 yuan. During the period, expenses and costs and other expenses totaled 8 million yuan. Enterprise A had a loss of 200,000 yuan in the previous year, which has been approved by the tax authorities. The applicable tax rate is 25%. From the above formula, it can be calculated that the taxable income of enterprise A in 2011 = 1250-10-20-800-20 = 4 million yuan. Taxable amount = 400 * 25% = 1 million yuan

200,000 yuan of interest income on government bonds should be included in the deduction of taxable income

multiple choices

According to the Provisional Regulations on Corporate Income Tax, the following incomes obtained by taxpayers shall be included in taxable income ().

A. Interest income from bank deposits

B. Interest income from financial bonds

C. Treasury interest income

D. Interest income from national key construction bonds

Correct answer: ABD

Analysis of the answer: This question assesses the determination of the taxable income of corporate income tax. Interest income from taxpayers purchasing government bonds is not included in taxable income.