Guidance on Accounting for Account 131 - Receivables for Specialized Taxes

14:04, 11/07/2024

Circular 112/2018/TT-BTC has been issued by the Ministry of Finance amending and supplementing Circular 174/2015/TT-BTC providing guidance on accounting for tax operations and other revenues related to exported and imported goods.

Accounting for Account 131 - Receivables from Tax as specialized guided by Circular 112 as follows:

1. Accounting Principles

- The account reflects the payment relationship between customs authorities and taxpayers;- Taxes reflected in Account 131 are taxes on export and import goods of taxpayers who are permitted to export, import, and pay taxes;- Basis for accountancy: Documents recording the payable taxes; adjustment documents; statements of documents offsetting taxes, fees, advance fees; receipts; payment information to the customs electronic payment gateway sent by banks, the State Treasury but not yet received confirmation from the State Treasury; tax assessment decisions; tax refund decisions; tax non-collection decisions; tax exemption decisions; tax reduction decisions; debt cancellation decisions.

2. Structure and Content Reflection of Account 131 - Receivables from Tax as specialized

- Debit Side:- The amount of specialized tax receivable for export and import goods of taxpayers;- The specialized tax amount to be refunded due to overpayment by taxpayers;- Adjustments of the specialized tax receivable (increase recorded as positive, decrease recorded as negative);- Adjustment of exchange rate differences corresponding to the collected foreign exchange rate by the State Treasury at the time of collection.- Credit Side:- Payment information to the customs electronic payment gateway sent by banks, the State Treasury but not yet received confirmation from the State Treasury;- Specialized tax collected by customs authorities in cash;- Specialized tax for export and import goods of taxpayers already submitted to the state budget;- Specialized tax of express delivery enterprises offset against the previously paid taxes;- Cases of reducing the receivable obligation of taxpayers.

Refer to 10 types of sub-accounts of Account 131 in Circular 112/2018/TT-BTC effective from January 1, 2019.

- Thanh Lam -

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