Interest on a loan for the purchase of fixed assets. USN: acquisition of fixed assets at the expense of borrowed funds (E. Sukhanova)
Regarding question No. 667294, this question was not taken from the test, but from the response to the vacancy. I can't find the answer on my own, so I'm asking for your help. Thank you.
The correct answer is number 2.
in accounting interest on loans received for the purchase of a fixed asset - an investment asset, accrued from the moment the purchase began until the end of the month in which the fixed asset was put into operation, include in original cost(clause and PBU 15/2008). If, however, a non-investment asset was bought at the expense of a loan or interest was accrued after the fixed asset was put into operation, then take into account the interest in other expenses (clause and PBU 15/2008).
In tax accounting take into account interest on loans (credits) for the purchase of property as part of non-operating expenses(signature 2, clause 1, article 265 of the Tax Code of the Russian Federation).
Rationale
Sergei Razgulin, Acting State Councilor of the Russian Federation, 3rd class
Is it necessary to include in accounting in the initial cost of the fixed asset the interest on the target loan attracted for its purchase?
Yes, you do, but only under certain conditions.
So, interest on borrowed funds can be taken into account in the initial cost of fixed assets if the following conditions are simultaneously met:
- property is an investment asset;
- interest accrued before the acquisition, construction and (or) creation of the object;
- interest is accrued before the start of using the investment asset in the activity, if the work on its acquisition, construction and (or) creation has not been completed.
This is stated in paragraphs, and PBU 15/2008.
Investment assets include objects that require a lot of time and costs for the acquisition, construction and (or) manufacture. However, the legislation does not specify how to determine the duration of preparation or construction. Therefore, you can set this criterion yourself in your accounting policy for accounting purposes. Such a right is granted in paragraph 7 PBU 1/2008.
For example, in accounting policy you can write: “Property that is listed on account 08 “Investments in non-current assets” or 07 “Equipment for installation” for a period exceeding 12 months is considered an investment asset.” Accordingly, only for those objects that will be accounted for on account 07 or 08 more than the established period, interest must be included in the initial cost.
If the organization, to repay the loan at the expense of which the property was acquired, new loan, then the interest on a newly taken loan does not increase the initial cost of fixed assets (letter of the Ministry of Finance of Russia dated August 18, 2006 No. 03-03-04 / 1/633).
And what to do if the conditions for recognizing interest in the initial cost of fixed assets are not met? Include them in other expenses at a time in the period to which the accrual of a particular amount of interest relates. That is, for example, include the amount of interest on the loan for March in full in other expenses in the same month. This follows from paragraph 11 of PBU 10/99 and paragraph 7 of PBU 15/2008.
An example of the reflection in accounting of interest on a target loan taken to purchase a fixed asset
Alpha LLC on December 30 received a loan for the purchase of a machine tool - 500,000 rubles. The organization must return the debt in two months. For the use of borrowed funds, Alfa calculates and pays interest on the last day of each month at a rate of 15 percent per annum.
The machine was purchased on February 15 for 590,000 rubles. (including VAT - 90,000 rubles) and put into operation in the same month. The loan was returned on February 28.
According to the organization's accounting policy, the purchased machine does not qualify as an investment asset.
The accountant of Alpha made such entries in the accounting.
Debit 51 Credit 66
- 500,000 rubles. - received a loan for the purchase of a machine;
Debit 91-2 Credit 66
- 205.48 rubles. (500,000 rubles? 15%? 1 day: 365 days) - interest was accrued on the loan on December 31.
Debit 91-2 Credit 66
- 6352.46 rubles. (500,000 rubles? 15%? 31 days: 366 days) - interest was accrued for using the loan from January 1 to January 31 inclusive;
Debit 66 Credit 51
- 6557.94 rubles. (6352.46 rubles + 205.48 rubles) - interest paid.
Debit 08 Credit 60
- 500,000 rubles. (590,000 rubles - 90,000 rubles) - the costs of purchasing a machine are reflected;
Debit 19 Credit 60
- 90,000 rubles. - the input VAT on the purchased machine is taken into account;
Debit 60 Credit 51
- 590,000 rubles. - the machine is paid;
Debit 01 subaccount "Fixed asset in operation" Credit 08
- 500,000 rubles. – the machine is accepted for accounting and put into operation;
Debit 68 subaccount "VAT settlements" Credit 19
- 90,000 rubles. - accepted for deduction of VAT on the purchased machine.
Debit 91-2 Credit 66
- 5737.71 rubles. (500,000 rubles? 15%? 28 days: 366 days) - interest was accrued for using the loan from February 1 to February 28 inclusive;
Debit 66 Credit 51
- 505,737.71 rubles. (500,000 rubles + 5,737.71 rubles) - interest was paid and the loan was repaid.
Organizations that have the right to keep accounting in a simplified form can include all interest on loans and borrowings as part of other expenses (part , article 6 of the Law of December 6, 2011 No. 402-FZ).
From the recommendation How to arrange and reflect in accounting the acquisition of fixed assets for a fee »
Andrey Kizimov, Deputy Director of the Department of Tax and Customs Tariff Policy of the Ministry of Finance of Russia
How to account for taxation of interest on a loan (credit) received
Situation: how to take into account when calculating income tax interest on loans (credits) aimed at acquiring depreciable property
Consider interest as part of non-operating expenses.
In tax accounting, interest on loans (credits) aimed at acquiring depreciable property does not increase its initial cost. The initial cost must be formed as the sum of the following expenses:
- for the purchase of an object;
- for the construction, manufacture;
- for delivery;
- to bring it to a usable condition.
VAT and excises are not taken into account in this case, except for cases established by law.
Interest on loans (credits) received is not included in this list.
This follows from the provisions of paragraph 1 of Article 257 tax code RF.
Therefore, take into account interest on loans (credits) for the purchase of property as part of non-operating expenses (subclause 2, clause 1, article 265 of the Tax Code of the Russian Federation). At the same time, pay attention to the restrictions established by the Tax Code of the Russian Federation.
This position is confirmed by the letters of the Ministry of Finance of Russia dated October 14, 2008 No. 03-03-06 / 1/577, dated September 24, 2008 No. 03-03-06 / 1/541, dated February 14, 2008 No. 03-03 -06/1/94, December 19, 2007 No. 03-03-06/1/878, December 14, 2007 No. 03-03-06/1/855, October 22, 2007 No. 03- 03-06/1/731 , dated August 27, 2007 No. 03-03-06/1/598 . As well as arbitration practice (see, for example, FAS rulings
Often, a company needs to borrowed money ah - for example, for investing in non-current assets. In this case, the accountant has a lot of questions regarding the accounting for accrued interest. Naliana Kulaeva, tax consultant of BKR-INTERCOM-AUDIT CJSC, will help you deal with them.
PBU will help
Guided by clause 23 of the Accounting Regulation “Accounting for loans and credits and the costs of their servicing” (PBU 15/01), the organization must include the amount of interest in the initial cost of the object, which is subsequently written off as expenses through the depreciation mechanism. A different procedure for accounting for interest, namely writing off for current expenses, is provided for by PBU 15/01 only for borrowed funds related to the formation investment assets for which depreciation is not charged in accounting.
When determining tax base it is impossible to take into account the costs of acquiring and creating depreciable property (clause 5, article 270 of the Tax Code of the Russian Federation). Based on this, the amount of accrued interest should be taken into account in the initial cost of such an object, especially since Art. 257 of the Tax Code of the Russian Federation expressly states that the initial cost of a fixed asset takes into account all the costs of its acquisition, construction, manufacture, delivery and bringing it to a state in which it is suitable for use. The only exceptions are VAT and excises, except for the cases provided for by the Tax Code of the Russian Federation. Obviously, in this case, the amount of interest on targeted borrowed funds is associated with the acquisition of fixed assets ...
At the same time, Chapter 25 of the Tax Code of the Russian Federation also contains a special rule enshrined in paragraphs. 2 p.1 art. 265 of the Tax Code of the Russian Federation. Expenses in the form of interest on obligations of any kind - both current and investment - subject to the requirements of Art. 269 of the Tax Code of the Russian Federation are included in non-operating expenses. Therefore, taxpayers should reflect the interest accrued for the use of borrowed funds as part of non-operating expenses. Despite the fact that the work of an accountant becomes more laborious, from an economic point of view, this accounting option is beneficial for the taxpayer, allowing the company to reduce tax payments, since the amount of accrued interest (taking into account the requirements of Article 269 of the Tax Code of the Russian Federation) reduces the profit of the current period. Moreover, both the Ministry of Finance of the Russian Federation and tax authorities for a long time did not object to such tactics.
However, now the situation seems to be changing, and this is due to the appearance of the Letter of the Ministry of Finance of the Russian Federation dated April 2, 2007 No. 03-03-06 / 1/204. In response to a taxpayer's private question about the procedure for calculating interest during the period of equipment conservation, the Ministry of Finance of the Russian Federation clarified how the amount of accrued interest on servicing a loan should be taken into account. It follows from the provisions of this letter that during the period of mothballing of the installation of the facility, the taxpayer has the right to take into account the amount of accrued interest as part of non-operating expenses.
However, another important conclusion practically follows from the letter - that during the period of creation of the object, the interest on the loan paid by the taxpayer should be taken into account in its initial cost.
Therefore, now many accountants are concerned about how tax accounting should keep records of interest accrued for the use of borrowed funds taken to purchase depreciable property.
Attention
The inclusion of interest in the initial cost of the object is terminated from the first day of the month following the month of acceptance of the asset for accounting as an object of fixed assets (clause 30 of PBU 15/01). If the asset is not accepted for accounting as a fixed asset, but its actual operation has begun, then the inclusion of interest in the initial cost is terminated from the first day of the month following the month of the actual start of operation (clause 31 PBU 15/01).
What options?
According to the author, the current edition of Chapter 25 of the Tax Code of the Russian Federation does not give an unambiguous answer to this question, therefore, based on the provisions of paragraph 1 of Art. 257 of the Tax Code of the Russian Federation, paragraph 4 of Art. 252 of the Tax Code of the Russian Federation, paragraph 5 of Art. 270 of the Tax Code of the Russian Federation, subclause 2, clause 1, art. 265 of the Tax Code of the Russian Federation and Art. 269 of the Tax Code of the Russian Federation, the taxpayer has several options for accounting for interest:
- Interest until the acceptance of fixed assets for accounting is included in the initial cost of fixed assets, and then accounted for as part of non-operating expenses;
- Interest is included in non-operating expenses;
- Interest until the fixed asset is accepted for accounting is included in the initial cost, after that it is not taken into account for tax purposes.
The first option is beneficial from the point of view of convergence of accounts, but increases the amount tax payments, the second - reduces tax payments, but ultimately leads to differences between balance sheet and taxable profits (clause 1, article 257 of the Tax Code of the Russian Federation and clause 5 of article 270 of the Tax Code of the Russian Federation). The third one is generally not beneficial from the point of view of the taxpayer, but nevertheless it also has the “right to life”.
Since the tax accounting for interest on targeted borrowed funds taken for the acquisition (creation) of fixed assets today does not have an unambiguous interpretation, in the author's opinion, the organization has the right to decide independently how it will take into account interest. When resolving this issue, the company should proceed from the fact that it is more profitable for it - the convergence of accounting or the reduction of tax payments to the treasury. The selected option is fixed in the accounting policy for tax purposes.
Example
To purchase equipment, organization "A" borrowed from the bank targeted loan in the amount of 2,000,000 rubles at 15% per annum for a period of six months. In accordance with the terms of the agreement, interest is paid to the bank on a monthly basis.
The loan was received on April 10 of the current year. The cost of the equipment is 2,360,000 rubles (including VAT - 360,000 rubles). Payment to the supplier was made on April 12, delivery cost - 23,600 rubles, including VAT - 3,600 rubles. The object was accepted for accounting in May of this year and its use began in the same month.
The accounting policy for tax purposes stipulates that before the object is accepted for accounting, interest for the use of borrowed funds is included in the initial cost of the object (clause 4, article 252 of the Tax Code of the Russian Federation), and then accounted for as non-operating expenses. Term beneficial use in accounting is established in accordance with the Classification of fixed assets, approved by Decree of the Government of the Russian Federation of January 1, 2002 No. 1. Assume that this equipment belongs to the fourth depreciation group, set time useful life is 61 months, depreciation is charged on a straight-line basis.
To simplify the example, suppose that the amount of accrued interest does not exceed the limit, limited by the requirements of Art. 269 of the Tax Code of the Russian Federation.
In the accounting of organization "A" data business transactions are reflected as follows: Using option 1 gives the same value of the initial cost of equipment in accounting and tax accounting - 2,070,432.87 rubles - and, accordingly, the amount of accrued depreciation in accounting and tax accounting will be the same, amounting to 33,941.52 rubles.
Using option 2 gives a different value of the initial cost of fixed assets: in accounting - 2,070,432.87 rubles, and in tax accounting - 2,000,000 rubles.
The amount of depreciation in accounting is 33,941.52 rubles, in tax accounting - 32,786.89 rubles. A deductible temporary difference arises, leading to the formation of a deferred tax asset(SHE) (33,941.52 - 32,786.89) × 24% = 277.11 rubles. In accounting, you should make an entry Debit 09 Credit 68. However, the use of this option leads to a decrease in the company's tax payments.
Account correspondence | Amount, rubles | Contents of operation | |
---|---|---|---|
Debit | Credit | ||
April | |||
51 | 66 | 2 000 000 | Received a targeted loan for the purchase of equipment |
60 | 51 | 2 000 000 | Payment made to supplier |
08 | 60 | 2 000 000 | The cost of equipment is included in investments in non-current assets |
19 | 60 | 360 000 | Reflected VAT presented for payment by the supplier |
08 | 66 | 20 367,12 | Accrued interest on the loan in April 15% / (365 / 100) × 2,360,000 × 21 days |
May | |||
66 | 51 | 20 367,12 | Interest paid to the bank for April |
08 | 76 | 20 000 | The cost of delivery of equipment is included in the initial cost |
19 | 76 | 3 600 | Reflected VAT presented by the carrier |
08 | 66 | 30 065,75 | May interest accrued 15% / (365 / 100) × 2,360,000 × 31 days |
01 | 08 | 2 070 432,87 | Accepted equipment for accounting as a fixed asset |
68 | 19 | 363 600 | Accepted for VAT deduction |
76 | 51 | 23 600 | Paid carrier services |
June | |||
66 | 51 | 30 065,75 | Interest paid to the bank for May |
91-2 | 66 | 29 095,89 | Interest accrued for using the loan in June 15% / (365 / 100) × 2,360,000 × 30 days |
20 | 02 | 33 941,52 | June depreciation |
"New in accounting and reporting", 2007, N 12
Recently, the Ministry of Finance of Russia issued a new Letter, which clarified the procedure for accounting for the purposes of calculating income tax expenses in the form of interest on loans issued for the purchase of equipment during the period of conservation of work on the installation of equipment. We are talking about the Letter dated April 2, 2007 N 03-03-06 / 1/204.
In this document, the specialists of the financial department actually made two conclusions:
- interest on the loan paid by the taxpayer during the creation of the production line should be taken into account as part of the initial cost of the construction object;
- expenses in the form of interest on loans issued for the purchase of equipment during the period of conservation of work on the installation of equipment are taken into account when determining the tax base for income tax as part of non-operating expenses in an amount not exceeding that established by Art. 269 of the Tax Code of the Russian Federation.
Accounting for interest during the conservation period
Let's start with an analysis of the validity of the second conclusion. Let's just say that the explanations of the financiers on this issue are legitimate. As the Ministry of Finance of Russia correctly pointed out, in paragraphs. 2 p. 1 art. 265, Art. 269 of the Tax Code of the Russian Federation is established special order accounting for interest on loans and credits.
So, according to par. 2 p. 1 art. 265 of the Tax Code of the Russian Federation, non-operating expenses not related to production and sale include expenses in the form of interest on debt obligations of any kind, including interest accrued on securities and other obligations issued (issued) by the taxpayer, taking into account the specifics provided for in Art. 269 of the Tax Code of the Russian Federation (for banks, the specifics of determining expenses in the form of interest are determined in accordance with Articles 269 and 291 of the Tax Code of the Russian Federation), as well as interest paid in connection with the restructuring of debt on taxes and fees in accordance with the procedure established by the Government of the Russian Federation.
In view of the above, the Ministry of Finance of Russia recognized that expenses in the form of interest on loans issued for the purchase of equipment are taken into account for profit taxation purposes as part of non-operating expenses.
Accounting for interest as part of the cost of fixed assets
But the first conclusion of officials is far from indisputable. The financiers based their reasoning on the norm of paragraph 1 of Art. 257 of the Tax Code of the Russian Federation: the initial cost of a fixed asset is determined as the amount of expenses for its acquisition (and if the fixed asset was received by the taxpayer free of charge, as the amount at which such property was valued in accordance with paragraph 8 of Article 250 of the Tax Code of the Russian Federation), construction, manufacture, delivery and bringing it to the state in which it is suitable for use, with the exception of VAT and excises, except for the cases provided for by the Tax Code of the Russian Federation.
Based on this, the Russian Ministry of Finance came to the conclusion that the interest on the loan paid by the taxpayer during the creation of the production line should be included in the initial cost of the construction project.
It is difficult to agree with such an approach. The fact is that in paragraph 1 of Art. 257 of the Tax Code of the Russian Federation contains a rather abstract definition of expenses to be included in the initial cost of a fixed asset. Since there is no specific list of such expenses in the law, it is possible various ways interpretation of the analyzed provision. The Ministry of Finance of Russia actually applied a broad interpretation.
Meanwhile, another interpretation of the norm under consideration is possible. Following a restrictive interpretation, it can be assumed that the interest for using the loan should not participate in the formation of the initial cost of the fixed asset. In any case, in paragraph 1 of Art. 257 of the Tax Code of the Russian Federation does not say anything about them.
In addition, the Ministry of Finance of Russia does not deny that a special accounting procedure has been established for interest on loans and credits in paragraphs. 2 p. 1 art. 265 of the Tax Code of the Russian Federation, art. 269 of the Tax Code of the Russian Federation.
However, officials, interpreting the law, lost sight of the following. According to paragraph 4 of Art. 252 of the Tax Code of the Russian Federation, if some costs with equal grounds can be attributed simultaneously to several groups of expenses, the taxpayer has the right to independently determine to which group he will attribute such expenses. So, even if we assume that in paragraph 1 of Art. 257 of the Tax Code of the Russian Federation, the legislator really meant interest for the use of borrowed in cash, the taxpayer has the right to decide how to qualify these costs.
With this approach, the company has two options for accounting for interest:
- include them in the initial cost of the fixed asset;
- included in non-operating expenses.
Obviously, from an economic point of view, the second accounting option is more profitable. The fact is that the organization gets the opportunity to write off interest in the expenses of the current period, and not over many years of depreciation of the fixed asset. And if so, then the taxpayer, guided by paragraph 4 of Art. 252, paras. 2 p. 1 art. 265 of the Tax Code of the Russian Federation, has the right to qualify the investigated costs as non-operating expenses.
Position of the Arbitration Courts
The conclusions drawn are confirmed by arbitration practice. As an example, let us cite the Decree of the Federal Antimonopoly Service of the North-Western District of March 22, 2005 in case N A42-8523 / 04-28.
Example. Inspection carried out field check observance by the company of legislation on taxes and fees, during which a number of violations were revealed. In particular, the tax authority found that the taxpayer, on the basis of loan agreements, received funds that he sent to pay for the purchased vessel. The Company paid interest under the said loan agreements, which it included in the composition of non-operating expenses taken into account when taxing profits.
The tax authority made a decision to charge additional taxes to the company, accrue penalties and bring it to tax liability. The company considered the decision of the controllers illegal and challenged it in the arbitration court.
The court of first instance found it justified to charge additional income tax, indicating that the interest paid by the company before the vessel was accepted for accounting should be included in the initial cost of the vessel and in the expenses taken into account for taxation, as depreciation is accrued.
However, the higher court assessed the circumstances of the case differently, drawing attention to the fact that the Tax Code of the Russian Federation established the specifics of accepting and accounting for certain types of expenses. So, according to paragraph 2 of Art. 252 of the Tax Code of the Russian Federation, expenses, depending on their nature, as well as the conditions for conducting and activities of the taxpayer, are divided into expenses related to production and sale, and non-operating expenses.
When purchasing a ship at the expense of borrowed funds, the taxpayer bears both the costs associated with production and sale (expenses for the acquisition of depreciable property) and non-operating expenses (in the form of interest on debt obligations) (clause 2, clause 1, article 265 of the Tax Code of the Russian Federation) . For taxpayers who recognize expenses on an accrual basis, the costs of acquiring depreciable property are included in expenses taken into account when taxing profits, as depreciation is accrued in the manner prescribed by paragraph 3 of Art. 272 of the Tax Code of the Russian Federation.
Non-operating expenses are taken into account in the reporting period to which they relate. Moreover, for such expenses as interest on loan obligations, the date of their implementation is the date of settlement established in accordance with the terms of the concluded contracts (clause 1, clause 3 clause 7 of article 272 of the Tax Code of the Russian Federation).
Since the company became obliged to pay interest on borrowed funds (and the interest was actually paid to lenders), the court found that it rightfully included this interest in non-operating expenses taken into account when taxing profits.
The cassation instance did not agree with the conclusion of the court of first instance that interest under loan agreements paid before the vessel was put into operation should be included in the initial cost of the vessel and written off as depreciation accrues. FAS emphasized that Art. 257 of the Tax Code of the Russian Federation does not provide for the inclusion in the initial cost of depreciable property of interest paid on borrowed funds used to purchase property, since such interest is included in an independent group of expenses - non-operating expenses.
The cassation instance recognized as erroneous the use by the court of first instance in this case of the rules established by PBU 6/01<1>, since these rules apply only in the field of accounting. For the purposes of taxation on profits, special tax accounting is provided, the procedure for maintaining which is established by the norms of Ch. 25 of the Tax Code of the Russian Federation.
<1>Regulation on accounting "Accounting for fixed assets" RAS 6/01 was approved by Order of the Ministry of Finance of Russia dated March 30, 2001 N 26n.
Considering the above, the court decided that the company had rightly included in non-operating expenses the interest paid on loans used to purchase fixed assets.
The above precedent clearly indicates that the taxpayer has the right to account for interest on loans as non-operating expenses. However, since there is an opposite point of view of the Russian Ministry of Finance, there is a risk that the tax authorities may present claims to the taxpayer. Therefore, the organization must be prepared for the fact that it will have to defend its interests in the arbitration court.
Interest Accounting Rules
So, we have considered the procedure for reflecting in tax accounting interest paid on loans that are involved in the construction of fixed assets. Now a few words about the reflection of interest in accounting.
The procedure for determining the initial cost of fixed assets for accounting purposes is established in PBU 6/01. In accordance with paragraph 8 of this Regulation, the initial cost of fixed assets acquired for a fee is the amount of the organization's actual costs for the acquisition, construction and manufacture, excluding VAT and other refundable taxes (except as provided by the legislation of the Russian Federation).
When resolving the issue under consideration, PBU 15/01 should also be taken into account<1>. According to paragraph 12 of PBU 15/01, the costs of loans and credits received should be recognized as expenses of the period in which they were incurred, with the exception of the part that is to be included in the cost of the investment asset.
<1>The Accounting Regulation "Accounting for loans and credits and the costs of servicing them" (PBU 15/01) was approved by Order of the Ministry of Finance of Russia dated August 2, 2001 N 60n.
For the purposes of PBU 15/01, an investment asset is understood as an object of property, the preparation of which for the intended use requires a significant amount of time. Investment assets include fixed assets, property complexes and other similar assets that require a lot of time and costs for acquisition and (or) construction (clause 13 PBU 15/01).
Thus, in accounting, unlike tax accounting, interest on loans and borrowings must be included in the initial cost of the fixed asset.
O.A. Myasnikov
USN: acquisition of fixed assets at the expense of borrowed funds (E. Sukhanova)
Article placement date: 09/14/2013
When calculating a single tax, "simplifiers" who have chosen the appropriate object of taxation are entitled to take into account only a limited list of expenses. But it contains both interest on loans and borrowings received, and the cost of acquiring fixed assets. Meanwhile, the initial cost of fixed assets on the simplified tax system is formed according to accounting rules, according to which it may include, among other things, interest on a loan ...
"Simplifiers" with the object of taxation "income minus expenses" recognize in tax accounting the expenses listed in paragraph 1 of Art. 346.16 of the Tax Code. Under pp. 1 it includes the costs of acquiring fixed assets, and under paragraphs. 9 - interest paid for the provision of funds (credits, loans) for use. But to what type of expenses should the corresponding interest be attributed, if the loan was received just for the purpose of purchasing fixed assets?
OS acquisition costs
Fixed assets on the simplified tax system are fixed assets recognized as depreciable property in accordance with the provisions of Ch. 25 of the Tax Code (clause 4 of article 346.16 of the Tax Code). Therefore, firstly, we are talking on a part of the property used as means of labor for the production and sale of goods (performance of work, provision of services) or for the management of an organization, with an initial value of more than 40,000 rubles. (Clause 1, Article 257 of the Tax Code). Secondly, it must belong to the taxpayer by right of ownership, be used to generate income and have a useful life of at least 12 months (clause 1 of article 256 of the Tax Code).
When purchasing an OS directly during the period application of the simplified tax system their cost is included in expenses from the moment the object is put into operation (submission of documents for registration of property rights, if such is required) and is taken into account within tax period, that is, years, in equal shares for reporting periods(Clause 3, Article 346.16 of the Tax Code). The procedure for recognizing such expenses assumes that they are accepted for accounting on the last day of the reporting (tax) period in the amount of the amounts paid. Thus, as representatives of the Ministry of Finance explain, the taxpayer has the right to start deducting the cost of fixed assets acquired during the period of application of the simplified tax system, from the reporting period when the last of two conditions is met: commissioning or payment for the fixed asset. At the same time, if we are talking about real estate, you will have to wait for the fulfillment of the third condition, namely, the submission of documents for state registration of rights to the object real estate(Letters of the Ministry of Finance of Russia of April 15, 2009 N 03-11-06 / 2/65, of June 6, 2008 N 03-11-05 / 142, the Federal Tax Service of Russia of March 31, 2011 N KE-3-3 /1003).
Interest on the use of funds
Paragraph 2 of Art. 346.16 of the Tax Code provides that expenses in the form of interest on loans and credits are accepted for accounting on the simplified tax system in the manner prescribed for income tax payers. In other words, the "simplifiers" in this case must be guided by Art. 269 of the Code, and therefore, in order to calculate the single tax, interest paid on loans and borrowings is subject to rationing.
Article 269 of the Tax Code offers taxpayers a choice of two ways to determine the limit on the recognition of interest in expenses.
The first assumes that the calculation of the maximum amount of interest taken into account for taxation is based on the average level of interest on comparable loans of one quarter (the deviation should not exceed 20% in one direction or another).
The second prescribes to focus on the refinancing rate of the Bank of Russia, increased by a certain coefficient. So, when it comes to interest debt obligation denominated in rubles, the limit on recognizing their amount in expenses until the end of the current year is determined based on the rate of the Bank of Russia increased by 1.8 times, and for foreign currency loans and borrowings - based on the rate of the Bank of Russia multiplied by a coefficient of 0.8 (clause 1.1 of article 269 of the Tax Code).
Any taxpayer has the right to choose from the proposed methods, the main thing is to fix it in the accounting policy. Another thing is that in the absence of comparable loans, willy-nilly, you will have to focus on the refinancing rate of the Bank of Russia.
In the book of income and expenses, expenses in the form of interest on loans and borrowings are reflected on the date of their payment, unless, of course, by that time they can be considered implemented. In other words, two conditions must be met: billing period, for which interest has been accrued, must be completed and the debt on them repaid.
Loan interest and investment asset
The initial cost of a fixed asset created or acquired after the transition to the "simplified" system is formed according to the accounting rules (clause 3 of article 346.16 of the Tax Code, clause 3.10 of the Procedure for filling out the book of accounting for income and expenses on the simplified tax system, approved by Order of the Ministry of Finance of Russia dated October 22 2012 N 135n). According to paragraph 8 of PBU 6/01 "Accounting for fixed assets", it consists of the actual costs of acquisition, construction and manufacture, with the exception of value added tax and other refundable taxes. At the same time, the interest on the loan is not named among those, but it is mentioned that the cost of the fixed assets object can include "other costs" directly related to its purchase or manufacture.
In turn, PBU 15/2008 "Accounting for expenses on loans and credits" (approved by Order of the Ministry of Finance of Russia dated October 6, 2008 N 107n) expressly provides that interest due to the lender, directly related to the acquisition of an investment asset, is included in its initial cost (clause 7 PBU 15/2008). An object is recognized as such, in respect of which two conditions are simultaneously met:
- preparation of the object for use requires a long time;
- the acquisition, construction and (or) manufacture of an object requires significant costs.
Note! Small businesses are allowed to independently choose the procedure for accounting for borrowing costs: either in the cost of an investment asset, or as part of other expenses (clause 7 of PBU 15/2008).
What terms should be considered "long", and the costs "substantial", in PBU is not deciphered. Appropriate criteria for an economic entity must be developed independently and fixed in the accounting policy. Thus, a fixed asset can also be recognized as an investment asset. And interest on a loan or credit spent on the acquisition of fixed assets is included in the cost of such, subject to the following conditions:
- expenses for the acquisition, construction and (or) manufacture of an investment asset are subject to recognition in accounting;
- borrowing costs associated with the acquisition, construction and (or) manufacture of an investment asset are subject to recognition in accounting;
- work has begun on the acquisition, construction and (or) manufacture of an investment asset (clause 9 PBU 15/2008).
Among other things, this means that only interest paid before it is put into operation or actually used in activities can be included in the cost of fixed assets. Interest amounts that are not carried over to the cost of an item of property, plant and equipment are written off as part of other expenses.
Between two options
In a Letter dated June 11, 2013, representatives of the Russian Ministry of Finance indicated that interest on loans and borrowings, even if received and spent on the acquisition of fixed assets, should still be taken into account on the simplified tax system in accordance with paragraphs. 9 p. 1 art. 346.16 of the Tax Code. Among other things, this means that they can be taken into account only within the limits established by Art. 269 of the Code.
At the same time, speaking about the interest paid by the "simplified" in connection with the acquisition of a fixed asset in installments, the specialists of the financial department prescribe that they be included in the cost of fixed assets and written off in the manner of paragraphs 1 and 3 of Art. 346.16 of the Tax Code (Letters of the Ministry of Finance of Russia dated June 30, 2011 N 03-11-06 / 2/101, dated July 2, 2010 N 03-11-11 / 182). Recall that installment is a kind of commercial loan (paragraph 1 of article 823 of the Civil Code). Meanwhile, as officials point out, in accordance with clause 23 of the Regulation on accounting and reporting (approved by Order of the Ministry of Finance of Russia dated July 29, 1998 N 34n), the actual costs incurred when assessing property include, in particular, the costs of its acquisition , including interest paid on a commercial loan provided upon acquisition of fixed assets. Similar conclusions are contained in the Letter of the Federal Tax Service of Russia dated February 6, 2012 N ED-4-3 / 1818.
Such a different approach to the acquisition of fixed assets in installments and at the expense of borrowed funds can, perhaps, be explained only by the fact that, on the basis of paragraphs. 9 p. 1 art. 346.16 of the Tax Code, interest paid for the provision of funds (credits, loans) for use is taken into account. Meanwhile, with a commercial loan, in particular with an installment plan, the taxpayer does not receive direct funds for use. Therefore, the specified norm of the Tax Code is not applicable in this case.
Fiscals recalled: in tax accounting, interest on loans received for the acquisition (construction, completion, retrofitting, reconstruction) of a fixed asset does not increase its initial cost. Such expenses are classified as non-operating expenses (Letter of the Federal Tax Service of Russia dated September 29, 2014 No. GD-4-3 / 19855).
tax accounting
The position of officials is not new. True, the Federal Tax Service of Russia did not express its opinion on this issue earlier, but the Russian Ministry of Finance issued quite a lot of clarifications. An example of this is letters dated June 28, 2013 No. 03-03-06/1/24671, dated April 26, 2013 No. 03-03-06/1/14650, dated December 6, 2011 No. 03-03- 06/1/808, July 5, 2011 No. 03-03-06/1/398.
Thus, in a letter dated December 23, 2009 No. 03-03-06 / 1/682, the Ministry of Finance of Russia noted that interest on bank loans(loans) are not included in the initial cost of the modernized depreciated property, they are accounted for as non-operating expenses. On the one hand, this approach allows you to quickly write off amounts as expenses, on the other hand, there may be discrepancies with accounting.
income tax
Expenses in the form of interest on debt obligations of any kind are included in non-operating expenses (subclause 2, clause 1, article 265 of the Tax Code of the Russian Federation). Features of attributing interest to expenses are determined by Article 269 of the Tax Code of the Russian Federation.
Interest on a loan can be fully taken into account in expenses if the rate on it does not exceed the limit (clauses 1, 1.1, article 269 of the Tax Code of the Russian Federation). If the bank's rate exceeds the marginal rate, the costs include interest calculated at the marginal rate.
The marginal rate is determined in one of two ways, which is fixed in the accounting policy (clauses 1, 1.1 of article 269 of the Tax Code of the Russian Federation):
- based on the refinancing rate of the Central Bank of the Russian Federation (in 2014, for ruble loans, it is multiplied by 1.8, and for loans in foreign currency - by 0.8);
- based average rate for comparable loans (issued in the same quarter (month)).
If there are no comparables for any loan, the marginal rate for it is determined based on the rate of the Central Bank of the Russian Federation, even if the comparability criterion is fixed in the accounting policy (letter of the Ministry of Finance of Russia dated May 5, 2010 No. 03-03-06 / 2/83) . Recall that from September 13, 2012 to the present day, the refinancing rate is 8.25 percent (Instruction of the Bank of Russia dated September 13, 2012 No. 2873-U). Thus, in 2014, the maximum interest rate for loans received in rubles is 14.85 percent (8.25% x 1.8), and for loans in foreign currency - 6.6 percent (8.25% x 0. 8).
Interest on loans received for more than one loan is included in expenses on the last day of each month of using the loan, regardless of the date of their actual payment (clause 8, article 272 of the Tax Code of the Russian Federation, letter of the Ministry of Finance of Russia dated April 10, 2014 No. 03-03 -06/1/16339).
Single Simplified
Interest paid for the provision of loans and borrowings, as well as expenses associated with paying for services provided by banks, can be recognized as expenses when applying the “simplification” (subclause 9, clause 1, article 346.16 of the Tax Code of the Russian Federation). The amount of interest taken into account for tax purposes is determined by analogy with income tax. At the same time, they are taken into account on the date of their payment (paragraph 2 of article 346.16, subparagraph 1 of paragraph 2 of article 346.17 of the Tax Code of the Russian Federation).
Accounting
Accounting for interest on loans and borrowings is regulated by PBU 15/2008 “Accounting for expenses on loans and credits”. According to paragraphs 6-8 of PBU 15/2008, in accounting, interest on a loan or loan received for the acquisition of a fixed asset includes:
- or to its original cost;
- or monthly other expenses.
The first accounting option is provided for cases when the fixed asset is recognized as an investment asset.
An investment asset is an object of property, the preparation of which for the intended use requires a long time and significant costs for the acquisition, construction, manufacture (clause 7 of PBU 15/2008). What period of time is considered long and significant costs, the company decides for itself, fixing these criteria in its accounting policy for accounting purposes.
At the same time, interest on a loan (credit) received for the acquisition (creation) of an investment asset is included in its value only after the start of work on its acquisition, construction, manufacturing (clause 9 PBU 15/2008).
Let's say a company has taken out a loan to build a building.
In this case, before the start of design or construction works interest on this loan is accounted for monthly in other expenses. But after the work begins, the interest on this loan, accrued from the 1st day of the month following the month the work began, is already included in the initial cost of the building.
The accrual of interest on a loan or credit for the acquisition of an item of fixed assets that is an investment asset is reflected in the debit of the account “Investments in” and the credit of the account “Settlements on short-term loans and borrowings” (or 67 “Settlements on long-term loans and loans”).
When accruing interest on a loan or credit for the purchase of a fixed asset that is not an investment asset, the entries are made in the debit of the account “Other income and expenses” and the credit of the account (account).
At the same time, if the company is a small business, it may include all interest on loans and borrowings as part of other expenses. This procedure also applies to interest on those loans and borrowings that are attracted for the purchase, construction or creation of investment assets (clause 7 PBU 15/2008).
Important to remember
The costs associated with the acquisition of fixed assets are included in their initial cost. However, interest on loans received for the purchase of property is reflected in tax accounting as non-operating expenses.