The Accounting and Audit of Settlements with the Budget under the VAT

The main objective of this research is formulated a detailed study of the specifics of accounting and audit calculations with the budget for VAT, the analysis of the composition and sequence of the procedures for verifying the accounting of payments with the budget for VAT at a particular enterprise. To achieve this objective, the following tasks were set: learning the basic concepts of accounting and tax accounting and audit of settlements with the budget for VAT, description the procedure for calculating and paying VAT on the example of a particular enterprise, carrying out a number of activities necessary for auditing the enterprise. The interest to the chosen topic is caused by the extreme mobility and variability of this tax. VAT is considered one of the most difficult and time consuming to calculate taxes in the taxation system, as it has a large number of legislative exemptions in the order of its calculation and payment. In connection with this, business entities continue to pay penalties due to incorrect accounting due to misunderstanding of the current legislation. Сarrying out of audit procedures in the organization helps to avoid this. The first part of the study is theoretical, it examines the basic concepts of accounting and audit of settlements with the budget for VAT, describes the normative acts of settlements with the budget for VAT. Furthermore, in this part compares approaches to the main elements of VAT in Russia and foreign countries. The second part presents the economic characteristics and considered the accounting policy of the selected enterprise. In addition, examples are made of accounting for the calculation of the tax budget and a tax return is completed. In the final part of the article, I would like to draw up a general strategy and audit plan for the enterprise, in order to apply an algorithm for conducting audit sampling on the materials of the enterprise and providing recommendations for improving accounting.