Accounting for the CVAE


The CVAE, understand the Contribution on Value Added Companies , is a component of the CET (Economic Contribution Territoriale). For best accountancy training Best school of accountancy In Pakistan. This is a transaction that must be accounted for and depends on the turnover achieved. Return on the accounting of the CVAE .
 The CVAE, what is it?
Component of the Territorial Economic Contribution , the CVA is determined according to the realized turnover and the added value produced, over a year. It is due by the person who carries out the activity on the first of January of the current year, and who realizes more than 152 000 euros of turnover excluding tax.
The CVAE, how to calculate it?
The CVAE is calculated in a mathematical way, multiplying the value added at the progressive rate. It should be noted that the tax base is capped according to the turnover achieved over a year. Once defined, the CVAE must be accounted for and reported. But beware, only companies and self- employed persons reaching a certain turnover are concerned.
The CVAE, how to declare it?
Once the CVAE has been calculated, it must be reported to the tax department no later than the second business day after May 1 . When the CVAE is higher than 3000 euros, it is possible to make two installments, each corresponding to 50% of the amount due, which will be levied in June and September. An Expert can always help you in this accounting mission . It is compulsory to recognize the CVAE for companies and self-employed persons with a certain turnover. You should know that the amount of the CVAE is then allocated to the territorial collectivities.

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