Taxation of income
Amount of income is an important determinant of the amount organization profit. However, the financial success of the company depends primarily on the correct system of income taxation, reporting and payment of taxes to the budget.
Income itself consists of the following components:
- Income from the sale of goods, services and property rights;
- Non-operating income;
Revenues from the sale relates revenue from sales of products and goods, as well as income related to the performance of works, rendering of services.
In organizations, wich activity is the leasing of assets, revenue is recognized in the rent.
Non operating income includes:
- payment for the granting of rights to patents for industrial designs and other intellectual property;
- profit that the company earns from the joint venture with another organization;
- interest received for granting the use of funds and other revenues.
Professional accountants our companies offer assistance in both general (traditional), and a simplified tax system.
In the first case, the organizations accounting is fully paid and all general taxes, while the second - it is a single tax.
It's paid instead income tax, value added tax and property tax.
Your company can choose the tax system and the method of calculating taxes.