Income taxes are not recorded in this account. They are recorded in account 695 « Income taxes ».
Taxes and duties payable to the Treasury on remuneration are debited to account 631 « Taxes, duties and similar payments on remuneration (to tax authorities) » in the various subdivisions concerned, entitled :
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Payroll taxes ;
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Adjustment of contribution for housing construction.
The counterpart is credited to account 447 « Other taxes, duties and similar payments ».
When the amount of expenses eligible for tax exemption, paid or due at the time of assessment, is less than the amount of the tax or mandatory contribution, the entity credits account 447 or the subdivision of account 448 entitled « State – Accrued expenses and accrued income » with the amount of the remaining payment to the Treasury by debiting account 631.
Non-refundable payments or grants corresponding to taxes and contributions on remuneration are debited to account 633 « Taxes, duties and similar payments on remuneration (to other bodies) » in the various subdivisions concerned, entitled :
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Contribution for housing construction when the expenses are in full discharge,
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Employer participation to lifelong professional training,
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Payment in full discharge eligible for the apprenticeship tax exemption.
Other amounts recognized as expenses are recorded in the appropriate expense accounts of Class 6.
When accrued expenses at the end of the financial year can be considered as expenses in full discharge according to the legislation, these expenses are debited to the relevant asset or expense accounts by crediting the relevant account of Class 4 « Accounts receivable and payable ».
