Interest on a loan for the acquisition of fixed assets. STS: acquisition of fixed assets at the expense of borrowed funds (Sukhanova E.)
On issue No. 667294, this question is not taken from the test, but from the response to the vacancy. I can’t find the answer myself, so I ask for your help. Thank you.
The correct answer is indicated in your number 2.
In accounting interest on loans received for the purchase of a fixed asset - an investment asset, accrued from the start of the purchase until the end of the month in which the fixed asset was put into operation, include in the initial cost (paragraphs and RAS 15/2008). If, on account of the loan, you bought a non-investment asset or accrued interest after putting the fixed asset into operation, then take into account interest in other expenses (paragraphs and RAS 15/2008).
In tax accounting interest on loans (credits) for the purchase of property, take into account non-operating expenses (subparagraph 2, paragraph 1, article 265 of the Tax Code of the Russian Federation).
Justification
Sergey Razgulin, State Councilor of the Russian Federation, 3rd class
Is it necessary in accounting to include in the initial cost of a fixed asset interest on a target loan attracted to purchase it
Yes, it is necessary, but only subject to certain conditions.
So, interest on borrowed funds can be taken into account in the initial cost of a fixed asset if the following conditions are simultaneously met:
- property - an investment asset;
- interest is accrued before the acquisition, construction and (or) creation of the facility;
- interest is accrued before the start of the use of the investment asset in the activity, if work on its acquisition, construction and (or) creation is not 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) manufacturing. However, the law 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 of PBU 1/2008.
For example, in the accounting policy you can write: “Property 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 recorded on account 07 or 08 over a specified period, it is necessary to include interest in the initial cost.
If the organization for the repayment of the loan, at the expense of which the property was acquired, took a new loan, then the interest on the 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) .
But what if the conditions for the recognition of interest in the initial cost of fixed assets are not respected? Include them in other expenses at a time in the period to which the accrual of a particular interest amount relates. That is, for example, the full amount of interest on the loan for March in full include in other expenses in the same month. This follows from paragraph 11 of RAS 10/99 and paragraph 7 of RAS 15/2008.
An example of reflection in accounting of interest on a target loan taken to purchase a fixed asset
On December 30, Alfa LLC received a loan to purchase a machine - 500,000 rubles. The organization must return the debt in two months. For the use of borrowed funds, Alpha on the last day of each month accrues and pays interest 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 was commissioned in the same month. The loan was returned on February 28.
According to the accounting policy of the organization, the acquired machine does not meet the criteria of an investment asset.
The Alpha accountant made such entries.
Debit 51 Credit 66
- 500 000 rub. - received a loan to purchase a machine;
Debit 91-2 Credit 66
- 205.48 rubles (500,000 rubles. 15%? 1 days: 365 days) - interest for using the loan on December 31 was accrued.
Debit 91-2 Credit 66
- 6,352.46 rubles. (500,000 rubles. 15%? 31 days: 366 days) - interest for using the loan from January 1 to January 31 inclusive;
Debit 66 Credit 51
- 6,557.94 rubles. (6352.46 rubles + 205.48 rubles) - interest was paid.
Debit 08 Credit 60
- 500 000 rub. (590,000 rubles. - 90,000 rubles.) - reflects the cost of acquiring the machine;
Debit 19 Credit 60
- 90,000 rubles. - the input VAT for the purchased machine is taken into account;
Debit 60 Credit 51
- 590,000 rubles. - paid machine;
Debit 01 subaccount "Fixed asset in operation" Credit 08
- 500 000 rub. - accepted for accounting and commissioned the machine;
Debit 68 subaccount "Calculations for VAT" 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 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 are entitled to conduct accounting in a simplified form, all interest on loans and borrowings may be included in other expenses (part, article 6 of the Law of December 6, 2011 No. 402-ФЗ).
From the recommendation “How to register 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, Ministry of Finance of Russia
How to take into account when taxing interest on a received loan (loan)
Situation: when calculating income tax, interest on loans (credits) aimed at acquiring depreciable property
Interest is included in non-operating expenses.
In tax accounting, interest on loans (credits) aimed at acquiring depreciable property does not increase its initial cost. The initial cost should be formed as the sum of the following expenses:
- to purchase an object;
- for construction, manufacturing;
- for delivery;
- to bring to a condition suitable for use.
In this case, VAT and excise taxes are not taken into account, 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 of the Tax Code of the Russian Federation.
Therefore, the interest on loans (credits) for the purchase of property, consider as part of non-operating expenses (subparagraph 2, paragraph 1 of article 265 of the Tax Code). In this case, pay attention to the restrictions established by the Tax Code of the Russian Federation.
This position is confirmed by 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, dated December 19, 2007 No. 03-03-06 / 1/878, dated December 14, 2007 No. 03-03-06 / 1/855, dated 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 the company needs borrowed funds - for example, to invest in non-current assets. In this case, the accountant has a lot of questions regarding the accounting of accrued interest. To deal with them, a tax consultant from BKR-INTERKOM-AUDIT CJSC Naliana Kulaeva will help.
PBU will help
Guided by paragraph 23 of the Accounting Regulation “Accounting for loans and credits and the costs of servicing them” (PBU 15/01), the organization must include the amount of interest in the initial cost of the property, which is subsequently charged to the costs through the depreciation mechanism. A different procedure for accounting for interest, namely write-offs for current expenses, is provided for in PBU 15/01 only for borrowed funds related to the formation of investment assets, for which depreciation is not charged in accounting.
When determining the tax base, it is impossible to take into account the costs of the acquisition and creation of 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 in art. 257 of the Tax Code of the Russian Federation expressly states that in the initial cost of a fixed asset all expenses for its acquisition, construction, manufacture, delivery and bringing to a state in which it is suitable for use are taken into account. The only exceptions are VAT and excise taxes, except as otherwise provided by the Tax Code. Obviously, in this case, the amount of interest on target 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 norm enshrined in paragraphs. 2 p.1 Art. 265 of the Tax Code of the Russian Federation. Costs in the form of interest on obligations of any kind - both current and investment - taking into account the requirements of Art. 269 \u200b\u200bof the Tax Code 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 time-consuming, from an economic point of view, this accounting option is beneficial for the taxpayer, allowing you to reduce the tax payments of the company, since the amount of accrued interest (taking into account the requirements of Article 269 of the Tax Code) reduces the profit for the current period. Moreover, both the Ministry of Finance of the Russian Federation and the tax authorities did not object to such tactics for a long time.
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 private question of the taxpayer about the procedure for calculating interest during the conservation of equipment, the Ministry of Finance of the Russian Federation clarified how to account for the amount of accrued interest on loan servicing. It follows from the provisions of this letter that during the period of conservation of installation of the facility, the taxpayer is entitled 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 an object, interest for a loan paid by a taxpayer should be taken into account in its initial cost.
Therefore, many accountants are now worried about how tax accounting should keep track of the interest accrued on the use of borrowed funds taken to purchase depreciable property.
attention
Inclusion of interest in the initial cost of an object ceases from the first day of the month following the month of acceptance of the asset for accounting as an item of fixed assets (paragraph 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 ceases from the first day of the month following the month of the actual start of operation (paragraph 31 of RAS 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 Article 257 of the Tax Code of the Russian Federation, paragraph 4 of Art. 252 of the Tax Code, Clause 5, Article 270 of the Tax Code of the Russian Federation, paragraph 2 of paragraph 1 of article 265 of the Tax Code of the Russian Federation and Art. 269 \u200b\u200bof the Tax Code of the Russian Federation, the taxpayer has several options for calculating interest:
- Interest until the OS is accepted for accounting is included in the initial cost of the OS, and then accounted for as non-operating expenses;
- Interest is recognized in non-operating expenses;
- Interest until the OS is accepted for accounting is included in the initial cost, after which it is not taken into account for tax purposes.
The first option is beneficial from the point of view of closer accounting, but increases the amount of tax payments, the second reduces tax payments, but ultimately leads to differences between book and taxable profits (paragraph 1 of article 257 of the Tax Code and paragraph 5 of article 270 Tax Code of the Russian Federation). The third is generally not beneficial from the point of view of the taxpayer, but nevertheless also has a “right to life”.
Since tax accounting of interest on earmarked borrowed funds for the acquisition (creation) of fixed assets today does not have an unambiguous interpretation, according to the author, the organization has the right to decide on its own how it will account for interest. In resolving this issue, the company should proceed from the fact that it is more profitable for it - the convergence of accounting or lower tax payments to the treasury. The selected option is fixed in the accounting policy for tax purposes.
Example
For the purchase of equipment, organization A took a target loan from the bank 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 monthly.
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, the delivery cost is 23 600 rubles, including VAT - 3600 rubles. The object was accepted for accounting in May of this year and its use was started in the same month.
The accounting policy for tax purposes stipulates that prior to acceptance of the object for accounting, interest on the use of borrowed funds is included in the initial cost of the object (Clause 4 of Article 252 of the Tax Code of the Russian Federation), and then it is accounted for as non-operating expenses. The useful life in accounting is established in accordance with the Classification of Fixed Assets, approved by Decree of the Government of the Russian Federation No. 1 dated January 1, 2002. Suppose that this equipment belongs to the fourth depreciation group, the estimated useful life is 61 months, depreciation is calculated on a straight-line basis.
To simplify the example, suppose that the amount of accrued interest does not exceed the maximum size limited by the requirements of Art. 269 \u200b\u200bof the Tax Code of the Russian Federation.
In the accounting of organization “A”, these business transactions are reflected as follows: Using option 1 gives the same amount 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 - 2 000 000 rubles.
Amount of depreciation in accounting - 33 941.52 rubles, in tax - 32 786.89 rubles. A deductible temporary difference arises, leading to the formation of a deferred tax asset (ОНА) (33,941.52 - 32,786.89) × 24% \u003d 277.11 rubles. In accounting, you should record Debit 09 Credit 68. However, the use of this option leads to a reduction in tax payments of the company.
Account Correspondence | Amount, rubles | Contents of operation | |
---|---|---|---|
Debit | Credit | ||
April | |||
51 | 66 | 2 000 000 | Received targeted loan for the purchase of equipment |
60 | 51 | 2 000 000 | Payment made to vendor |
08 | 60 | 2 000 000 | The cost of equipment is reflected in investments in non-current assets |
19 | 60 | 360 000 | Reflected VAT presented for payment by the supplier |
08 | 66 | 20 367,12 | Interest for using a loan in April accrued 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 equipment delivery is included in the initial cost |
19 | 76 | 3 600 | Reflected VAT shown by the carrier |
08 | 66 | 30 065,75 | Accrued interest on the loan for May 15% / (365/100) × 2,360,000 × 31 days |
01 | 08 | 2 070 432,87 | Accepted equipment for accounting as fixed assets |
68 | 19 | 363 600 | Accepted for VAT deduction |
76 | 51 | 23 600 | Carrier services paid |
June | |||
66 | 51 | 30 065,75 | Interest paid to the bank in May |
91-2 | 66 | 29 095,89 | Interest for using a loan in June accrued 15% / (365/100) × 2 360 000 × 30 days |
20 | 02 | 33 941,52 | Depreciation accrued for June |
"New in Accounting and Reporting", 2007, N 12
Recently, the Ministry of Finance of Russia issued a new Letter in which it explained the accounting for expenses for calculating income tax in the form of interest on loans issued for the purchase of equipment during the period of conservation of equipment installation. This is a letter of April 2, 2007 N 03-03-06 / 1/204.
In this document, specialists of the financial department actually made two conclusions:
- interest on loans paid by the taxpayer during the creation of the production line should be included in 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 installation of equipment are taken into account when determining the tax base for income tax in non-operating expenses in the amount not exceeding the established art. 269 \u200b\u200bof the Tax Code of the Russian Federation.
Interest accounting during the period of work conservation
We begin by analyzing the validity of the second conclusion. We must say right away that the explanations of financiers on this issue are legitimate. As correctly pointed out by the Ministry of Finance of Russia, in paragraphs 2 p. 1 Article 265, Art. 269 \u200b\u200bof the Tax Code of the Russian Federation, a special procedure has been established for accounting for interest on loans and credits.
So, according to paragraphs. 2 p. 1 Article 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 peculiarities provided for by art. . 269 \u200b\u200bof the Tax Code of the Russian Federation (for banks, the particulars 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 taxes and duties in accordance with the procedure established by the Government of the Russian Federation.
In view of the foregoing, the Ministry of Finance of Russia acknowledged that interest expenses on loans issued for the purchase of equipment are recorded for non-operating profit tax purposes.
Accounting for interest in the initial cost of fixed assets
But the first conclusion of officials is far from certain. The basis for their reasoning, financiers laid 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 sum of the costs of its acquisition (and if the fixed asset was received by a taxpayer for free, as the amount to which such property was valued in accordance with clause 8 of article 250 of the Tax Code of the Russian Federation), construction, manufacture, delivery and bringing to a state in which it is suitable for use, with the exception of VAT and excise taxes, except as otherwise provided by the Tax Code.
Based on this, the Ministry of Finance of Russia 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 this approach. The fact is that in paragraph 1 of Art. 257 of the Tax Code contains a rather abstract definition of expenses to be included in the initial cost of a fixed asset. Since the law does not contain a specific list of such expenses, various ways of interpreting the analyzed situation are possible. The Ministry of Finance of Russia has actually applied an expansive interpretation.
Meanwhile, another interpretation of the norm under consideration is also possible. Following a restrictive interpretation, it can be assumed that interest on the use of credit should not participate in the formation of the initial cost of fixed assets. In any case, in paragraph 1 of Art. 257 of the Tax Code 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 Article 265 of the Tax Code of the Russian Federation, Art. 269 \u200b\u200bof the Tax Code of the Russian Federation.
However, officials, interpreting the law, overlooked the following. According to paragraph 4 of Art. 252 of the Tax Code of the Russian Federation, if some costs with equal reason can be attributed simultaneously to several groups of expenses, the taxpayer has the right to independently determine to which group he will assign such costs. So, even if we assume that in paragraph 1 of Art. 257 of the Tax Code of the Russian Federation, the legislator really had in mind interest for using borrowed funds, 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 fixed assets;
- take into account 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 to expenses of the current period, and not for many years of depreciation of fixed assets. And if so, then the taxpayer, guided by paragraph 4 of Art. 252, p. 2 p. 1 Article 265 of the Tax Code of the Russian Federation, has the right to qualify the studied costs as non-operating expenses.
Arbitration Court Position
The conclusions made are confirmed by arbitration practice. As an example, we cite the Resolution of the Federal Antimonopoly Service of the North-Western District of March 22, 2005 in case No. A42-8523 / 04-28.
Example. The Inspectorate conducted an on-site audit of compliance by the company with legislation on taxes and fees, during which it revealed a number of violations. In particular, the tax authority established that the taxpayer, on the basis of loan agreements, received money that he sent to pay for the purchased vessel. The Company paid interest on these loan agreements, which were included in non-operating expenses that are taken into account when taxing profits.
The tax authority decided to add taxes to the company, charge interest and bring it to tax liability. The society considered the decision of the controllers to be illegal and challenged it in an arbitration court.
The court of first instance considered it reasonable to charge the income tax, indicating that the interest paid by the company before the ship was accepted for accounting should be included in the initial cost of the ship and in the costs taken into account in taxation, as depreciation is charged.
However, a 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 the adoption and accounting of 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 terms of reference and directions of activity of the taxpayer are divided into expenses associated with production and sale, and non-operating expenses.
By purchasing a vessel at the expense of borrowed funds, the taxpayer bears both 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) (paragraph 2 of clause 1 of 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 the expenses taken into account when taxing profit, as depreciation is accrued in accordance with the procedure established by clause 3 of Article 272 of the Tax Code of the Russian Federation.
Non-operating expenses are accounted for in the reporting period to which they relate. Moreover, for such expenses as interest on borrowed obligations, the settlement date is set to the settlement date established in accordance with the terms of the concluded agreements (clause 1, clause 3, clause 7 of article 272 of the Tax Code of the Russian Federation).
Since the company had a duty to pay interest on borrowed funds (and the interest was actually paid to the lenders), the court acknowledged that it lawfully included these percentages in non-operating expenses, taken into account when taxing profit.
The cassation instance did not agree with the conclusion of the trial court that interest on loan agreements paid before the vessel was put into operation should be included in the initial cost of the vessel and deducted as depreciation is charged. The FAS emphasized that Art. 257 of the Tax Code 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 income tax, a special tax accounting is provided, the procedure for which is established by the norms of Ch. 25 of the Tax Code.
<1> Accounting Regulation "Accounting for Fixed Assets" PBU 6/01 was approved by Order of the Ministry of Finance of Russia dated March 30, 2001 N 26н.
Given the above, the court decided that the company lawfully included in the structure of non-operating expenses the interest paid on loans used to acquire fixed assets.
The given precedent clearly indicates that the taxpayer is entitled to take into account interest on loans as non-operating expenses. However, since there is an opposite point of view of the Ministry of Finance of Russia, there is a risk that the tax authorities may bring claims to the taxpayer. Therefore, the organization must be prepared for the fact that it will have to defend its interests in an arbitration court.
Interest Accounting Rules
So, we examined the procedure for reflection in tax accounting of 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 actual costs of the organization for the acquisition, construction and manufacture, excluding VAT and other refundable taxes (except as provided for by the laws of the Russian Federation).
In resolving this issue, PBU 15/01 should also be considered.<1>. According to paragraph 12 of PBU 15/01, the costs of loans and credits received must be recognized as expenses of the period in which they were made, with the exception of the part that should 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 of August 2, 2001 No. 60n.
For the purposes of PBU 15/01, an investment asset is understood to mean an asset, the preparation of which for its intended use requires considerable time. Investment assets include fixed assets, property complexes and other similar assets that require a lot of time and expenses for the acquisition and (or) construction (paragraph 13 of PBU 15/01).
Thus, in accounting, unlike tax, interest on loans and borrowings should be included in the initial cost of fixed assets.
O.A. Myasnikov
STS: OS acquisition at the expense of borrowed funds (Sukhanova E.)
Date of publication of the article: 09/14/2013
When calculating the single tax, “simplists” who have chosen the appropriate object of taxation are entitled to take into account only a limited list of expenses. But it contains both the interest on loans and borrowings, as well as the cost of acquiring fixed assets. Meanwhile, the initial cost of fixed assets in the simplified tax system is formed according to the accounting rules, according to which interest on a loan may be included in it ...
“Simplifiers” with the object of taxation “income minus expenses” recognize in the tax accounting expenses listed in paragraph 1 of Art. 346.16 of the Tax Code. Under paragraphs 1 it indicates the cost of acquiring fixed assets, and under paragraphs. 9 - interest paid for the provision of the use of funds (loans, loans). But to what type of expenses should the corresponding interest be attributed if the loan was received just for the purpose of purchasing the OS?
OS acquisition costs
Under the fixed assets on the simplified tax system are understood OS recognized as depreciable property in accordance with the provisions of Sec. 25 of the Tax Code (Clause 4 of Article 346.16 of the Tax Code). Therefore, firstly, we are talking about a part of the property used as a means of labor for the production and sale of goods (work, services) or for managing an organization with an initial value of more than 40,000 rubles. (Clause 1, Article 257 of the Tax Code). Secondly, it should belong to the taxpayer on the basis of ownership, be used to generate income and have a useful life of at least 12 months (paragraph 1 of article 256 of the Tax Code).
When acquiring fixed assets directly during the period of application of the simplified tax system, their cost is included in expenses from the moment the facility is commissioned (filing documents for registration of property rights, if required) and is taken into account during the tax period, i.e., year, in equal shares for reporting periods (p 3 article 346.16 of the Tax Code). The recognition of 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, a taxpayer has the right to start writing off the value of fixed assets acquired during the application of the simplified tax system from the reporting period when the last of two conditions is fulfilled: commissioning or payment of fixed assets. Moreover, if it comes to 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 an immovable property (Letter of the Ministry of Finance of Russia dated April 15, 2009 N 03-11-06 / 2/65, dated 6 June 2008 N 03-11-05 / 142, Federal Tax Service of Russia dated March 31, 2011 N KE-3-3 / 1003).
Interest on cash
Paragraph 2 of Art. 346.16 of the Tax Code provides that interest expenses on loans and credits are accepted for accounting on the simplified tax system in the manner prescribed for payers of income tax. In other words, in this case, “simplists” must be guided by Art. 269 \u200b\u200bof the Code, and therefore, in order to calculate the single tax, interest paid on loans and borrowings are 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 on expenses.
The first assumes that the calculation of the maximum amount of interest taken into account in 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 Bank of Russia refinancing rate, increased by a certain coefficient. So, if we are talking about interest on a debt obligation denominated in rubles, then the limit on recognition of their amount in expenses before the end of the current year is determined based on the Bank of Russia rate increased by 1.8 times, and for foreign currency loans and borrowings - based on Bank of Russia rate multiplied by a factor of 0.8 (Clause 1.1, Article 269 of the Tax Code).
Any one of the proposed methods the taxpayer has the right, the main thing is to fix it in the accounting policy. Another thing is that in the absence of comparable loans, one will have to rely on the Bank of Russia refinancing rate.
In the book of income and expenses, expenses in the form of interest on loans are recognized at the date of payment, unless, of course, at this point they can be considered implemented. In other words, two conditions must be met: the billing period for which interest is accrued must be ended and the debt settled.
Interest on the loan and investment asset
The initial cost of fixed assets 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 the Order of the Ministry of Finance of Russia of October 22 2012 N 135n). According to paragraph 8 of PBU 6/01 "Accounting for fixed assets" it consists of the actual costs of the acquisition, construction and manufacture, excluding value added tax and other recoverable taxes. At the same time, the interest on the loan is not named among them, but it is mentioned that the cost of the fixed asset can include “other costs” directly related to its purchase or manufacture.
In its turn, PBU 15/2008 “Accounting for expenses on loans and credits” (approved by Order of the Ministry of Finance of Russia of October 6, 2008 N 107н) expressly stipulates that the interest due to the lender directly related to the acquisition of the investment asset is included in its original cost (paragraph 7 of PBU 15/2008). An object is recognized as such in respect of which two conditions are simultaneously satisfied:
- preparation of the object for use requires a long time;
- the acquisition, construction and (or) manufacturing of an object requires significant costs.
Note! Small businesses are allowed to independently choose the procedure for accounting for expenses on loans: either in the cost of the investment asset, or as part of other expenses (paragraph 7 of PBU 15/2008).
What terms should be considered "long", and the costs are "substantial", the PBU has not been deciphered. The relevant criteria for the business entity must be developed independently and fixed in the accounting policy. Thus, an investment asset may also be recognized as a fixed asset. And interest on a loan or credit spent on the acquisition of fixed assets are included in the cost thereof if the following conditions are met:
- the costs of the acquisition, construction and (or) manufacture of an investment asset are recognized 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 (paragraph 9 of PBU 15/2008).
Among other things, this means that in the OS price you can include only the interest that was paid before its commissioning or the actual use in the business. Amounts of interest that are not transferred to the value 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 Ministry of Finance of Russia indicated that interest on loans and borrowings, even if received and spent on the acquisition of fixed assets, on STS should nevertheless be taken into account in accordance with paragraphs. 9 p. 1 art. 346.16 of the Tax Code. Among other things, this means that it is possible to take them into account only within the limits of the norms established by Art. 269 \u200b\u200bof the Code.
At the same time, speaking about the interest paid by the “simplified person” in connection with the purchase of fixed assets by installments, the financial department experts prescribe to include them in the cost of fixed assets and write them off in accordance with clauses 1 and 3 of Article 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 type of commercial loan (paragraph 1 of article 823 of the Civil Code). Meanwhile, as officials point out, in accordance with paragraph 23 of the Regulation on Accounting and Reporting (approved by Order of the Ministry of Finance of Russia dated July 29, 1998 No. 34n), the actual costs incurred in assessing the 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 acquiring fixed assets by 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 takes into account the interest paid for the provision for use of funds (loans, loans). Meanwhile, with a commercial loan, in particular by installments, the taxpayer does not receive direct funds for use. Therefore, this norm of the Tax Code is not applicable in this case.
Fiscals reminded: in tax accounting, interest on loans received for the acquisition (construction, completion, retrofitting, reconstruction) of a fixed asset, its initial cost does not increase. Such expenses are classified as non-operating expenses (Letter of the Federal Tax Service of Russia dated September 29, 2014 No. ГД-4-3 / 19855).
Tax accounting
The position of officials is not new. True, earlier the Federal Tax Service of Russia did not express its opinion on this issue, but the Ministry of Finance of Russia issued quite a few clarifications. An example of this is the letter 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, dated 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 modernized depreciated property, they are accounted for as non-operating expenses. On the one hand, this approach allows you to quickly write off amounts to expenses, on the other hand, discrepancies with accounting may occur.
Income tax
Expenses in the form of interest on debt obligations of any kind are included in non-operating expenses (subparagraph 2, paragraph 1, article 265 of the Tax code of the Russian Federation). The features of attributing interest to expenses are determined by Article 269 of the Tax Code of the Russian Federation.
The interest on the loan can be taken into account in expenses in full if the rate on it does not exceed the limit (clause 1, 1.1 of article 269 of the Tax Code of the Russian Federation). If the bank rate exceeds the maximum rate, interest calculated at the maximum rate is included in expenses.
The marginal rate is determined in one of two ways, which is fixed in the accounting policy (paragraph 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 on the average rate on comparable loans (issued in the same quarter (month)).
If there is no comparable loan, the marginal rate for it is determined on the basis of the Central Bank rate, 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 (Bank of Russia Ordinance No. 2873-U dated September 13, 2012). Thus, in 2014, the maximum interest 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 by more than one is included in expenses on the last day of each month of using the loan, regardless of the date of actual payment (paragraph 8 of 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
The interest paid for the provision of loans and borrowings, as well as the costs associated with the payment of services provided by banks, can be recognized in the costs and in the application of “simplification” (subparagraph 9, paragraph 1 of article 346.16 of the Tax code of the Russian Federation). The amount of interest recorded for tax purposes is determined by analogy with income tax. Moreover, they are taken into account at the date of payment (clause 2 of article 346.16, sub clause 1 of clause 2 of article 346.17 of the Tax Code of the Russian Federation).
Accounting
Reflection in accounting of interest on loans and borrowings is regulated by PBU 15/2008 “Accounting for expenses on loans and borrowings”. According to paragraphs 6-8 of PBU 15/2008, in accounting, the interest on a loan or a loan received for the acquisition of fixed assets includes:
- or at its original cost;
- or monthly for 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 asset, the preparation of which for its intended use requires a long time and significant costs for the acquisition, construction, manufacture (paragraph 7 of PBU 15/2008). The company decides for itself what period of time is long and expenses are significant, 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 commencement of work on its acquisition, construction, manufacture (paragraph 9 of PBU 15/2008).
Let's say a company took out a loan to build a building.
In this case, before the start of design or construction work, the interest on this loan is taken into account monthly in other expenses. But after the work begins, the interest on this loan accrued from the 1st of the month following the month of commencement of work is already included in the initial cost of the building.
The calculation of interest on a loan or credit for the acquisition of an item of fixed assets, which is an investment asset, is reflected in the debit of the account “Investments in” and the credit of the account “Calculations on short-term loans and borrowings” (or 67 “Calculations on long-term loans and borrowings”).
When calculating interest on a loan or credit for the purchase of a fixed asset that is not an investment asset, the postings are made to the debit of the account “Other income and expenses” and to the credit of the account (account).
At the same time, if the company is a small business, it can include all interest on loans and borrowings in other expenses. This procedure also applies to interest on loans and borrowings that were raised for the purchase, construction or creation of investment assets (paragraph 7 of PBU 15/2008).
Important to remember
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 recorded in tax accounting as non-operating expenses.