How to file tax returns for partnerships?

Mondo Finance Updated on 2024-03-01

With the development of the economy, more and more people choose to start a business, and partnership has become the first choice for entrepreneurs. However, while enjoying preferential tax policies, partnerships are also required to file tax returns in accordance with regulations.

1. The time node of the partnership tax declaration.

According to the Law of the People's Republic of China on the Administration of Tax Collection and Collection and its implementation rules, a partnership shall submit the tax return of the previous year to the tax authorities from January 1 to June 30 of the year following the end of each tax year. If the partnership is unable to file the tax return on time due to special reasons, it can apply to the tax authorities for an extension of time, but the extension period shall not exceed 3 months.

2. The content of the tax declaration of the partnership.

The partnership tax declaration mainly includes the following aspects:

1.Enterprise income tax: As a taxpayer of enterprise income tax, a partnership needs to calculate the enterprise income tax payable according to the tax rate and pre-tax deductions stipulated by the state.

2.Value-added tax: If a partnership enterprise engages in the sale of goods or the provision of labor services, it is required to calculate the value-added tax payable at the rate prescribed by the state.

3.Individual income tax: The profits of the partners of the partnership from the partnership need to be calculated according to the tax rate prescribed by the state.

4.Stamp duty: In the process of signing a partnership agreement and purchasing a partnership, a partnership needs to pay stamp duty in accordance with the regulations.

5.Other taxes: Depending on the operation of the partnership, other taxes may also be required, such as urban maintenance and construction tax, property tax, etc.

3. Procedures for the tax declaration of partnerships.

When a partnership makes a tax return, it needs to follow the following procedure:

1.Preparation of tax declaration materials: The partnership shall collect and sort out the financial reports, accounting vouchers, invoices and other relevant materials of the previous year for tax declaration.

2.Fill in the tax return: The partnership shall fill in the tax returns of enterprise income tax, value-added tax, individual income tax and other tax returns for the previous year in accordance with the tax declaration form and requirements issued by the State Administration of Taxation.

3.Review of tax returns: The partnership should review the completed tax returns to ensure that the data is accurate.

4.Submission of tax returns: The partnership shall submit the completed tax returns and related materials to the tax authorities at the specified time node.

5.Payment of taxes: After filing the tax return, the partnership shall pay the tax payable in accordance with the prescribed time and manner.

4. Precautions for tax declaration of partnerships.

When making a partnership tax return, there are a few things to pay attention to:

1.Ensure the authenticity, completeness and accuracy of the tax declaration information, so as to avoid tax declaration failure or legal liability due to data problems.

2.Familiarize yourself with the tax declaration forms and requirements issued by the State Administration of Taxation to ensure that they are filled in correctly.

3.Pay attention to the timing of tax declaration to avoid adverse consequences such as fines due to late filing.

4.When paying taxes, pay attention to checking the tax amount and tax payment account to ensure that the tax is paid on time and in full.

As a new form of business, the tax declaration of partnership is equally important. By understanding the timing, content, procedures and precautions of the partnership's tax declaration, entrepreneurs can better complete the tax work and ensure the compliance of the enterprise.

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