The recorded value of fixed assets excludes value-added tax. Determination of initial entry value of fixed assets: fixed assets should be initially measured at cost. The cost of fixed assets refers to all reasonable and necessary expenses incurred by an enterprise before the purchase and construction of fixed assets reach the intended usable state. These expenses include direct price, related taxes and fees, freight and miscellaneous fees, packaging fees and installation fees, as well as indirect expenses, such as loan interest, foreign currency loan conversion difference and other indirect expenses that should be shared.
1. For ordinary taxpayers, the purchase of movable property for production and operation can be deducted from the input tax, so the recorded value of fixed assets does not include the input tax (value-added tax).
2. If the purchase of real estate cannot be deducted from the input tax, then the recorded value of fixed assets (assets used by welfare departments) will include the input tax (value-added tax).
3. For small-scale taxpayers and non-VAT taxpayers, no matter what assets they buy, their input tax (VAT) is included in the fixed assets.
Scope of value-added tax collection
General scope
The scope of value-added tax includes selling (including importing) goods and providing processing, repair and replacement services.
Special project
1, goods futures-goods futures are subject to value-added tax, and taxes are paid in the physical delivery link;
2. The business of selling gold and silver by banks;
3. The pawn business sells dead goods;
4. Consignment business sells goods consigned by customers;
5. Other units and individuals outside the postal department produce, distribute and sell philatelic products.
Special behavior
Regarded as sales: The following eight acts are regarded as selling goods in the VAT Law, and all of them are subject to VAT.
1. Deliver the goods to others for consignment;
2. Selling goods on behalf of others;
3. Transferring goods from one place to another (except the same county and city);
4. Use the self-produced or entrusted goods for non-taxable items;
5, the production, commissioned processing or purchase of goods as an investment in other units;
6. Distribute the self-produced, commissioned or purchased goods to shareholders or investors;
7. Use the self-produced or entrusted goods for employee welfare or personal consumption;
8. Give the self-produced, commissioned or purchased goods to others free of charge.
Does the original value of fixed assets in the new accounting standards include VAT?
This depends on the specific situation. If an enterprise purchases fixed assets and obtains a special VAT invoice to deduct the input tax, the original value of the fixed assets does not include the VAT tax. If not, the original value of the asset includes VAT. Non-ordinary taxpayer enterprises must include value-added tax. Details are as follows.
The original value of fixed assets includes input tax:
If a general taxpayer enterprise purchases fixed assets and obtains a special VAT invoice that can offset the input tax, the original value of the fixed assets does not include the VAT tax.
If an enterprise fails to obtain a special VAT invoice when purchasing fixed assets, or the fixed assets are not allowed to deduct the input tax according to regulations, the original value of the fixed assets includes the VAT part.
When purchasing fixed assets, non-ordinary taxpayer enterprises may not deduct VAT even if they obtain VAT invoices, so the original value of fixed assets purchased by such enterprises also includes VAT.
The original value of fixed assets is the abbreviation of the original value of fixed assets, which is also called the original value of fixed assets, original acquisition cost or historical cost. The original value of fixed assets reflects the investment in fixed assets and the production scale and equipment level of enterprises. It is also the basis for accounting and calculating the depreciation of fixed assets.
Does the recorded value of fixed assets include VAT?
As for whether the value-added tax is included in the recorded value of fixed assets, you can answer this question:
If it is the VAT input tax for purchasing fixed assets for production, it is not included in the original value of fixed assets and can be deducted as input tax.
The tax laws and regulations only stipulate that input tax cannot be deducted.
1 Non-taxable items such as cement, steel factory buildings, warehouses and other real estate purchased by enterprises shall not be deducted from the value-added tax.
Goods purchased by enterprises for the welfare of employees shall not be deducted from the value-added tax.
Enterprises purchasing goods for personal consumption cannot deduct the value-added tax. For example, the company bought a personal mobile phone (not an office computer) for the boss.
The value-added tax on automobiles, motorcycles and yachts purchased by enterprises shall not be deducted.
The special VAT invoice is expired, lost or damaged, and cannot be reissued.
In addition to the above four points, buy desks and chairs, computers, production equipment, office appliances, etc. , can be deducted.