The tax form, or business tax declaration, documents the tax administration on the company's financial performance. It consists of a series of declarations and annexed documents based on which the taxable result of the company is established. Tax resolution software is mandatory for all companies, except for self-employed entrepreneurs.
How to complete a tax return?
The tax return is drawn up based on accounting data appearing in the annual accounts published at the end of the financial year. This, therefore, opens what is called the tax campaign of the company. The main components of the tax return are:
• The declaration of the result, the allocation of the result, and the mention of the deficit, if necessary
• The table of provisions, receivables, and payables
• Realized capital gains or losses
• The added value produced
• The composition of the share capital and details of any holdings in subsidiaries
Normal or simplified tax return?
Depending on whether the company is subject to a normal real or simplified real regime, the tax return to be produced is a normal tax return or a simplified tax return – sometimes a simplified balance sheet tax return.
Taking into account the possibilities of tax deductions:
Depreciation
Accounting depreciation allows the company to expend a proportionate part of the value of each fixed asset annually. For example, a property depreciated in 5 years will see 20% of its purchase value reduce the accounting result of the company for five years and, therefore, the tax to be paid.
Tax depreciation
The calculation of tax depreciation corresponds to a derogatory approach to supporting businesses. Three purely fiscal depreciation systems may replace the general principle of accounting depreciation to encourage investment.
Decreasing tax depreciation affects the rate of depreciation. Companies are authorized to pass on a proportional share of higher costs for certain capital goods with a long lifespan during the first years of operation.
The transmission of the tax package
Electronic declaration of the tax package and electronic payment is mandatory for most business taxes. The transmission of the tax package must occur within three months of the closing date of the financial year. However, there is no obligation to wait for the deadline: whatever the date of remote transmission, the direct debit is only made on the due date.
The tax certificate certifies on request the regularity of a company's tax situation in terms of declaration and payment. The tax certificate applies to corporation tax and VAT. It concerns all businesses, including sole proprietorships. For example, the auto-entrepreneur tax certificate may be necessary for the context of public tenders.
The benefits of an automated tax management solution
• Reliability: Automation of calculations, Automation of the editing of summary documents, Consistency checks personalized by business
• Integration: Automated extraction of accounting data, Automated generation of the tax package, Automated filling of the declaration
• Traceability: Recording of accounting and tax operations, Recording of the history of exchanges, Secure archiving of documents
• Compliance: Consideration of tax regulations, Consideration of overriding provisions, Confidentiality of tax data
At the end of the audit, the company receives a proposal for adjustment or notice of the absence of adjustment. In the event of an adjustment, and after exhaustion of the deadlines and remedies, it is up to the company to pay the sums due and make an accounting entry of the tax adjustment.
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