IN Lately The sale of goods to the public on credit became widespread. And few buyers suspect that in such a situation they may have income, called material benefit. In addition, such a benefit may arise, for example, if an employee of an organization receives a loan, as well as in other situations. In this article we will look at examples of what material benefit is, when it can appear and what needs to be done in this case.
What is material benefit?
Article 212 of the Tax Code of the Russian Federation The specifics of calculating income received in the form of material benefits have been established. IN paragraph 1 This article lists cases when it may occur:1) savings on interest for the use of borrowed (credit) funds received from organizations or individual entrepreneurs(except for transactions with credit cards during the interest-free period established in the agreement on the provision of credit card);
2) purchase of goods (works, services) under a civil contract from individuals, organizations and individual entrepreneurs who are interdependent in relation to the buyer;
3) acquisition valuable papers at a price below market price.
Thus, material benefit arises in situations where an individual acquires the right to own something or dispose of something for more favorable conditions than those established for all other buyers or consumers.
It is important not to confuse material benefits with income received in kind. They are taxed according to different rates personal income tax, but we’ll talk about this in more detail below. Examples of income in kind include partial or full payment by organizations or individual entrepreneurs for goods (work, services) or property rights (for example public utilities, food, rest, training), receiving an individual goods or performing any work in his interests, providing services free of charge.
Now let's look at each type of material benefit in detail.
Save on interest
This is one of the most common types of material benefits. According to pp. 1 item 2 art. 212 Tax Code of the Russian Federation Savings on interest arise in cases where an individual is provided with a loan or credit, the interest on which is less than the minimum established by law. For ruble funds minimum size interest is 3/4 of the refinancing rate established by the Central Bank of Russia. Since December 26, 2005, it has been set at 12%, which means the minimum amount is 9% (12% x 3/4). For foreign currency, the minimum amount is unchanged and is always 9%.
Thus, today for any funds received by individuals under a loan or credit agreement, the minimum is 9%. If the rate under the contract is lower, then the borrower receives income in the form of material benefits.
Example 1.
The organization provided its employee with a loan in the amount of 100,000 rubles. for a period of 1 year with payment of 4% per annum. IN in this case the saving is 5% (9 - 4). Income in the form of material benefits is equal to 5,000 rubles. (RUB 100,000 x 5%). The personal income tax rate for such material benefits is 35% ( clause 2 art. 224 Tax Code of the Russian Federation). The tax amount will be 1,750 rubles. (RUB 5,000 x 35%).
Let’s assume that the specified loan is provided for 3 months (from January to March), which is 90 calendar days. Then the tax amount will be equal to 432 rubles. (RUB 1,750 / 365 days x 90 days).
Now let’s assume that the agreement provides for monthly loan repayment: 30,000 rubles. in the first two months and 40,000 rubles. to the last one. Payment of interest under the loan agreement is made on the last day of each month. According to pp. 3 p. 1 art. 223 Tax Code of the Russian Federation the date of actual receipt of income in the form of material benefits under loan (credit) agreements is considered the day of payment of interest on them.
Thus, 100,000 rubles. will be at the disposal of an individual for 31 days (RUB 70,000 - 28 days and RUB 40,000 - 31 days). Based on this, the material benefit for January will be 424.66 rubles. (RUB 100,000 x 5% / 365 days x 31 days), for February – RUB 268.49. (RUB 70,000 x 5% / 365 days x 28 days), for March – RUB 169.86. (RUB 40,000 x 5% / 365 days x 31 days). The total income in the form of material benefits will be 863.01 rubles. The tax must be paid in the amount of 302 rubles. (RUB 863.01 x 35%).
If a credit or loan is taken for the purpose of purchasing a residential building, apartment or share(s) in them on the territory of the Russian Federation, then personal income tax on material gain in this case is calculated at a rate of 13% ( clause 2 art. 224 Tax Code of the Russian Federation).
Example 2.
The organization provided an interest-free loan to its employee for a period of 2 years in the amount of 1,500,000 rubles. to purchase an apartment. The loan was returned after the specified period. It should be borne in mind here that the determination of the tax base for material benefits arising under loan (credit) agreements is carried out at least once a year ( pp. 2 p. 2 art. 212 Tax Code of the Russian Federation).
Thus, the material benefit will be 135,000 rubles. per year (RUB 1,500,000 x 9%), personal income tax is equal to RUB 17,550. for each year (RUB 135,000 x 13%). It must be remembered that when purchasing a home, an individual who is a tax resident of the Russian Federation can apply a property tax deduction to his income, taxed at a rate of 13%. Therefore, in such a situation, you may not have to pay tax.
However, if the amount of the targeted loan (credit) exceeds the amount actually spent on the purchase of housing, the excess funds paid will be qualified as used inappropriately. intended purpose. The material benefit from savings on interest on amounts of a targeted loan (credit) used for other purposes is calculated using a rate of 35% ( Clause 1 Letter of the Ministry of Finance of the Russian Federation dated March 31, 2005 No. 03-05-01-04/78).
In accounting, loans issued by an organization to its employees are reflected in the debit of account 73-1 “Settlements with personnel for other operations”, subaccount “Settlements on loans provided”. If the borrower is a third party, then account 58-3 is used “ Financial investments", sub-account "Loans provided". Interest is deducted from the employee by debiting account 70 “Settlements with personnel for wages” and crediting account 73-1. Withholding personal income tax at the request of the employee - Debit 70 Credit 68. Operating income of the organization in the form of interest accrued on the loan - Debit 73-1 or 58-3 Credit 91-1.
As we have already said, programs for purchasing goods on credit have recently become particularly popular. Usually the amount of interest on them is at least 9%. At the same time, there are also interest-free credit programs. As a rule, they are provided in cases of purchasing an expensive product, subject to a down payment of 30% and repayment of the loan within six months or a year.
Example 3.
An individual purchased a car worth RUB 500,000 in January. On the day of acquisition, he paid 200,000 rubles, the remaining 300,000 rubles. are paid 30,000 rubles. monthly for 10 months. Thus, for the first month the material benefit will be 2,293.15 rubles. (RUB 300,000 x 9% / 365 days x 31 days). For the second – 1,864.11 rubles. (RUB 270,000 x 9% / 365 days x 28 days), etc. Eventually total amount income in the form of material benefits will be equal to 12,309.04 rubles, and the tax on it will be 4,308.16 rubles. (RUB 12,309.04 x 35%).
Please note that including interest in the price of an item will not affect the amount of income or tax. This is due to the fact that such actions are not reflected in the purchase and sale agreement and loan agreement. There are also cases when the loan provided by the bank is not interest-free, but the seller himself pays the interest for the buyer. In this case, income in kind arises.
Exceptions to the rules
Material benefits do not appear in cases of obtaining loans from sources other than legal entities or individual entrepreneurs, for example from state authorities or local governments. In particular, the Ministry of Finance of the Russian Federation explained that if forced migrants receive an interest-free loan on a repayable basis for the purchase of housing, financing is carried out from the funds federal budget. In this regard, income in the form of material benefits and, therefore, the object personal income tax taxes doesn't appear ( Letter of the Ministry of Finance of the Russian Federation dated September 16, 2005 No. 03-05-01-03/90).
In addition, material benefit does not arise in cases of disposal by an individual credit funds provided under the credit line, on an interest-free basis during the interest-free period established by the credit card agreement ( pp. 1 clause 1 art. 212 Tax Code of the Russian Federation). In this case, an important condition is to repay the entire amount of debt under the credit line before the due date. last day interest-free period ( Letter of the Ministry of Finance of the Russian Federation dated October 5, 2005 No. 03-05-01-04/286). This rule also applies to the provision of a loan to the holder payment card in case of insufficient or absent funds in his bank account Money– overdraft ( Letter of the Ministry of Finance of the Russian Federation dated November 10, 2005 No. 03-00-10/40).
Accountable Funds as a Hidden Form of Loan
Now let's imagine a different situation. An employee of the organization receives 10,000 rubles for the report on the 1st. for a month for the purchase of goods and materials. Three situations are possible here: the employee has not spent the accountable amount at the end of the month, spent partially or completely.
The point is that when tax audits inspectors may classify the provision of reporting as an attempt to disguise the loan agreement ( Resolution of the Federal Antimonopoly Service No. F03-A51/03-2/2720 dated December 24, 2003). In cases of complete expenditure of accountable amounts, representatives of the tax service are unlikely to have such questions. If the money is not completely spent, then everything will depend on how large the balance of the refunded amounts is and how often this happens. Situations when amounts are returned completely unspent are the most ambiguous, and the inspector’s decision may also depend on how often they occur, as well as on the purposes for which the money was issued on account. For example, if an employee is unable to purchase a rare product that is in high demand, this is a valid reason, and the return of accountable amounts issued for the purchase of office supplies looks completely different.
A similar situation may also arise when issuing funds for an employee’s business trip. According to clause 11 of the Procedure cash transactions in the Russian Federation, approved By letter of the Central Bank of Russia dated 04.10.93 No. 18, the issuance of cash on account for expenses associated with business trips is made within the limits of the amounts due to business travelers. For example, if, based on the results of a business trip, out of 50,000 rubles issued. If only 10,000 rubles have been spent, then it is necessary, if possible, to justify in detail the amount issued to the seconded employee with an accounting statement and calculation.
And the last case when it is possible to qualify a report as a loan: issuing amounts against a report in order to avoid exceeding the cash limit in the organization’s cash desk. Money is usually issued for one day and returned within in full.
In all the situations considered, an organization can protect itself in the following way. Firstly, the amounts accountable are not a loan, since according to Art. 807 Civil Code of the Russian Federation Under the loan agreement, the funds become the property of the borrower. When issuing accountable amounts, the employee has a debt to the employer, which the latter can recover from earnings. Secondly, the loan agreement itself is missing, whereas according to Art. 808 Civil Code of the Russian Federation it must be concluded in writing. And thirdly, the funds received under the loan agreement can be spent by the borrower at his own discretion, and the accountable amounts can be spent exclusively for the purposes specified in the order.
Who pays personal income tax?
What should a person do who has income in the form of material benefits received from saving on interest for the use of borrowed funds? As previously explained tax service, the taxpayer determines the amount of such income independently. In this case, the individual is required to submit a tax return.
If borrowed funds received by an individual under a loan agreement concluded with Russian organization- the source of his income, for which it is recognized as a tax agent, then the borrower, in agreement with this organization, has the right to transfer to it his powers to calculate the tax base and the amount due personal income tax payment. This can be done on the basis of a notarized power of attorney or a power of attorney equivalent to a notarized one in accordance with the civil legislation of the Russian Federation. In this case, the organization tax agent recognized as an authorized representative of the taxpayer in relations with the tax authorities ( Letter of the Federal Tax Service of the Russian Federation dated December 24, 2004 No. 04-3-01/928).
According to the Ministry of Finance of the Russian Federation, when a taxpayer receives the specified income, an organization (individual entrepreneur) on the basis Art. 226 Tax Code of the Russian Federation is recognized as a tax agent regardless of the borrower’s requests to the lender or the presence of notarized powers of attorney ( Letter of the Ministry of Finance of the Russian Federation No. 03-05-01-04/78). That is, a person is obliged to calculate, withhold from the taxpayer and pay the appropriate amount of tax to the budget ( letters of the Ministry of Finance of the Russian Federation dated November 14, 2005 No. 03-05-01-04/356, 21.11.05 № 03-05-01-04/365 ).
According to clause 4 art. 226 Tax Code of the Russian Federation the tax agent withholds the accrued amount of tax from the taxpayer at the expense of any funds paid by the tax agent to the taxpayer or on his behalf to third parties. In this case, the withheld tax amount cannot exceed 50% of the payment amount.
Thus, if a loan to an individual was provided, for example, by his own employer, then personal income tax on income in the form of material benefits must be withheld when paying wages. This type income must be reflected in the 1-NDFL tax card and in the 2-NDFL certificate using code 2610.
If the lender is not the source of payment of any other income to an individual, then he cannot withhold and transfer personal income tax. According to clause 5 art. 226 Tax Code of the Russian Federation If it is impossible to withhold the calculated amount of tax from the taxpayer, the tax agent is obliged, within one month from the moment such a circumstance arises, to notify in writing about this to the tax authority at the place of his registration.
In this case, the taxpayer carries out the calculation and payment of personal income tax independently on the basis of pp. 4 paragraphs 1 art. 228 Tax Code of the Russian Federation in the manner provided for in this article ( Letter of the Federal Tax Service of the Russian Federation No. 04-3-01/928, clause 2 of Letter of the Ministry of Finance of the Russian Federation dated July 12, 2005 No. 03-05-01-04/232).
Selling goods to an employee
The next type of material benefit is the sale of goods (work, services) to individuals by organizations and individual entrepreneurs that are interdependent in relation to the buyer ( pp. 2 p. 1 art. 212 Tax Code of the Russian Federation). Such income appears subject to the sale of goods (work, services) at a lower price than the usual price ( clause 3 art. 212 Tax Code of the Russian Federation).
It must be remembered that in our case, interdependence can only arise in the following situations ( Art. 20 Tax Code of the Russian Federation): one individual is subordinate to another according to official position, persons are in a marriage relationship, relationship of kinship or property, adoptive parent and adopted child, as well as trustee and ward, according to a court decision.
It turns out that by selling a product to its employee cheaper, an organization can only be recognized as interdependent by a court. For example, a company sells electronics. It was sold to an employee for 9,000 rubles. a video camera whose price list is 15,000 rubles. The amount of material benefit is 6,000 rubles, personal income tax is 780 rubles. (RUB 6,000 x 13%).
If a product (work, service) is sold that the organization is not involved in selling, then the comparison should be based on the price of identical and homogeneous goods ( pp. 6,7 tbsp. 40 Tax Code of the Russian Federation). In any case, if the inspectorate decides to charge additional personal income tax on such material benefits, then it will have to prove the interdependence in court.
If the employer is an individual entrepreneur, there is a direct subordination of one individual to another by official position. The employee must independently calculate the material benefit and pay personal income tax or authorize the entrepreneur to do so with a written statement.
Purchase of securities
If actual expenses individual for the acquisition of securities will be lower than their market price, then such a difference will also be a material benefit ( pp. 3 p. 1, clause 4 art. 212 Tax Code of the Russian Federation). In this case, the market value of the securities is determined in the manner established Resolution of the FC Central Bank No. 03-52/ps, taking into account the maximum limit for fluctuations in their prices - 20% upward or downward. It should be noted that this document deals only with issue-grade securities, that is, those traded on the organized market. Special order determination of the market price of securities not traded on it (for example, bills of exchange) is not established by law. Thus, there is no material benefit for this category of securities.
The date of receipt by the taxpayer of income in the form of material benefit is the day of acquisition of securities ( pp. 3 p. 1 art. 223 Tax Code of the Russian Federation). When calculating the tax base for the specified income market value securities, according to the Ministry of Finance of the Russian Federation, should be determined on the date of the transaction, since it was on this day that the buyer made the decision to complete it ( Letter of the Ministry of Finance of the Russian Federation dated January 26, 2005 No. 03-05-01-04/11). Tax on such material benefits can be paid by both the buyer of securities and his authorized representative - the organization that sold these securities.
Material benefit + is the interest savings received by the borrower. It shows that the borrower took the money on more favorable terms than from the bank. Such savings constitute income on which personal income tax must be paid.
When an entrepreneur who has issued loans to individuals must withhold personal income tax
When does the borrower have a material benefit?
In cases where the individual entrepreneur issued an interest-free loan or at an interest rate below 2/3 of the refinancing rate of the Central Bank of the Russian Federation.
Who should transfer personal income tax from material benefits to the budget - the entrepreneur or the borrower?
The entrepreneur who issued the money to the individual. A businessman becomes a tax agent for personal income tax. Therefore, he needs to withhold tax from the borrower and transfer it to the budget. The personal income tax rate for benefits is 35%.
How can an individual entrepreneur determine the benefit of saving on interest?
To calculate material benefits, use the formula:
Loan amount × (2/3 × Refinancing rate + Loan rate) / 365 × Calendar days of loan use per month
Starting this year, the refinancing rate is equal to the key rate. Therefore, to calculate the benefit you need to use key rate - 11%.
Is this formula suitable for both interest-bearing and interest-free loans?
Yes, only if the loan is interest-free, instead of the loan rate, the entrepreneur needs to put 0.
At what point does an individual entrepreneur determine material benefits and the amount of personal income tax?
In 2016, calculate the material benefit on loans on the last day of each month.
Since 2016, the material benefit from interest savings should be calculated on the last day of each month while the borrower is using the money. Until 2016, the benefit was calculated on the day of payment of interest or upon return interest-free loan.
Example
Let’s say that on May 26, 2016, an entrepreneur lent an employee 100,000 rubles without interest.
In this case, determine the benefit for the first time on May 31st. In the formula you need to insert the loan amount - 100,000 ₽ and the loan period - 5 days (from May 27 to May 31).
100,000 ₽ × 2/3 × 11% ÷ 366 days × 5 days
Personal income tax from it - 35.06 ₽:
100.18 ₽ × 35%
Until the loan term expires and the individual returns the money, the financial benefit should be determined every month.
For interest-free loans issued in 2015, should one consider the material benefit and pay personal income tax?
Yes, the material benefit for using the loan before 2016 had to be calculated as of January 31, 2016. Experts from the Russian Ministry of Finance came to this opinion.
If the individual entrepreneur did not determine the benefits for 2015 on time, what to do now, in May?
It is necessary to quickly calculate the tax on the financial benefit received by the borrower. However, do the calculations for each month separately, because the amount of benefit depends on the number of days in each month of using the money. Also list the penalties for late personal income tax1.
When do you need to withhold and transfer tax on material benefits to the budget?
Withhold personal income tax calculated on the basis of financial benefits for the next payment of money to an individual.
Transfer the tax to the budget no later than the next day.
What to do if personal income tax cannot be withheld?
For example, when the borrower is not an employee of the entrepreneur. If the entrepreneur was unable to withhold personal income tax from the financial benefit, then report this to the Federal Tax Service. To do this, no later than March 1 of the next year, hand over to the borrower in tax office certificate 2-NDFL with feature 2. At the same time, a message should be sent to the borrower about the impossibility of withholding tax in any form.
When an entrepreneur who has received loans must pay personal income tax
Let's now consider the reverse situation. An entrepreneur received a loan low percentage or without interest. Does he have any material benefit? It all depends on who the merchant took the money from. If from another entrepreneur or organization, then it arises. If it is an ordinary individual, then the judges believe that in this case there is no benefit.
Why? If an entrepreneur received a loan from an individual, no financial benefit arises and there is no need to pay personal income tax. Article 212 of the Tax Code of the Russian Federation clearly states when the benefit from saving on interest is generated. This happens when the lender is a company or individual entrepreneur. Therefore, if the loan was received from a citizen, then the benefit does not arise. And you don’t have to pay personal income tax.
If an entrepreneur switches to a special tax regime and does not pay personal income tax, can there be a benefit?
If an individual entrepreneur uses imputation or a patent, then the benefit subject to personal income tax does not arise. Provided that the individual entrepreneur used the funds in a business transferred to UTII or PSN. To avoid any questions from the inspectors, we advise you to specify the purpose of the funds in the loan agreement.
Can an individual entrepreneur have a financial benefit subject to personal income tax using the simplified tax system?
Yes, merchants using the simplified tax system are exempt from personal income tax only on business income. Matvygoda does not apply to them.
And if the entrepreneur receives a benefit, then who should transfer the personal income tax: the individual entrepreneur or the party that issued the loan?
The lender is the tax agent for personal income tax. Therefore, the one who issued the money withholds and transfers the tax to the budget.
If the lender was unable to withhold personal income tax from the entrepreneur, should the tax be paid independently?
Yes. In this case, the tax authorities will send a notice of personal income tax payment. The tax that the lender was unable to withhold in 2016 will have to be paid in 2017. Deadline- December 1, 2017.
An employee was given a loan in the amount of 12,000 rubles for a year. Date of loan receipt: 06/01/2016 Refunds are made monthly in the amount of 1000 rubles by deduction from salary. When calculating salaries for June, the first payment in the amount of 1000 rubles was withheld. We plan to issue salaries for June on July 15. How to correctly calculate the amount of material benefit that comes already on June 30? Tell me, if an employee returns an interest-free cash loan through monthly deductions from wages, what date is considered the date of repayment of the loan? How to calculate the basis for determining material benefits? what date is considered the date of loan repayment if the loan is repaid monthly in equal installments by WITHDRAWING from the salary? That is, the salary is issued minus these deductions, a written response is required
Material benefit must be calculated on the date of receipt of income. This date will be the last day of each month during the period for which the employee received the loan. Determine the amount of material benefit monthly, regardless of the date of receipt and repayment of the loan.
In this case, the loan repayment date is the day the employee’s salary is paid, the date the money is actually withheld to repay the loan. The procedure for calculating material benefits if the loan was repaid in parts within a month, and an example of calculating material benefits are given below in the full answer.
How to withhold personal income tax from material benefits
Types of material benefits
Material benefits for calculating personal income tax include:
1) the benefit of saving on interest for using borrowed (credit) funds;
2) benefits when purchasing goods (works, services);
3) benefit when purchasing securities.
Saving on interest on borrowed funds
When using borrowed (credit) funds, material benefit as income subject to personal income tax arises for a person if interest rate for a loan (credit) less:
- 2/3 of the refinancing rate when receiving money in rubles;
- 9 percent per annum when receiving money in foreign currency.
In addition, material benefits arise if a person receives an interest-free loan.
This follows from the provisions of paragraphs and article 212 of the Tax Code of the Russian Federation.
Material benefits received from taxation are exempt from:
1) for transactions with bank cards received from Russian banks, during the period of interest-free use of the loan established by the agreement;
2) for borrowed funds raised for the purchase (construction) of housing:
- for loans (credits) provided by organizations and entrepreneurs for the purchase (construction) of housing and land plots under residential buildings;
- on loans provided Russian banks for refinancing (on-lending) of loans issued for the purchase (construction) of housing and land plots for residential buildings (set aside for construction);
3) upon the acquisition (construction) of housing and land plots for residential buildings with the provision of interest-free installments for payment. In fact, such an installment plan is also a type of loan (credit) ().
Material benefits from savings on interest on borrowed funds raised for the purchase or construction of housing, as well as from interest-free installment payment for purchased housing, are exempt from taxation if the borrower has the right to receive a property tax deduction for the costs of purchasing housing using borrowed (credit) funds . In this case, the borrower does not have to actually exercise the right to property deduction– the main thing is that such a right is confirmed (for example, by a notification from the tax office).
A material benefit is exempt from personal income tax even if the borrower continues to repay its loan obligations after the property tax deduction has been fully used.
Paying personal income tax on interest savings
The material benefit from savings on interest for the use of borrowed (credit) funds must be determined by the organization (tax agent) that provided the loan (credit) to the taxpayer. She must calculate personal income tax on the amount of material benefit and transfer the tax to the budget.
Obligation to retain and transfer to personal income tax budget from the amount of material benefit also arises for the credit institution. But only if the borrowed funds are provided to its employee. Personal income tax on material benefits is not withheld from other borrowers. Credit organisation must only determine the amount of material benefit, calculate personal income tax and transmit information about the amount of benefit received and calculated tax to the tax office. In this case, the person will have to pay personal income tax on material benefits himself.
Date of receipt of income from interest savings
The material benefit from saving on interest for the use of borrowed (credit) funds arises on the last day of each month during the loan period (subclause 7, clause 1, article 223 of the Tax Code of the Russian Federation). At this point, the tax agent must calculate the amount of personal income tax. And withhold the tax and transfer it to the budget - upon the first payment of any funds (paragraph 2, paragraph 4, article 226 of the Tax Code of the Russian Federation).
Apply this rule to the material benefit from saving on interest for the free use of borrowed (credit) funds.
When does material gain arise?
The employee will receive material benefits from the loan received:
- if the interest rate on the loan is less than 2/3 of the refinancing rate in effect on the date of interest payment (for loans in rubles);
- if the interest rate on it is less than 9 percent per annum (for loans in foreign currency). This situation may arise, for example, when issuing a loan to a foreigner;
- with an interest-free loan.
You can withhold tax from your next salary. The amount of withholding cannot exceed 50 percent of the payment. This follows from paragraph 4 of Article 226 of the Tax Code of the Russian Federation.
Calculation of material benefits
When calculating the monthly financial benefits for loans provided to employees, use the following formulas.
Calculate the material benefit from an interest-free loan issued in rubles using the formula:
If an interest-free loan is issued in foreign currency, calculate the material benefit as follows:
If the loan was repaid in parts within a month, calculate the material benefit as follows:
| Material benefit from a loan issued in rubles at interest with partial repayment | = | 2/3 | X | Refinancing rate on the date of receipt of income | – | X | Loan amount before partial repayment | : | 365 (366) days | X | Number of calendar days of loan provision in calendar month until the day of partial repayment (inclusive) | + | ||||||||||||
| + | 2/3 | X | Refinancing rate on the date of receipt of income | – | Interest rate under the agreement | X | Loan amount after partial repayment | : | 365 (366) days | X | The number of calendar days of loan provision in a calendar month from the day following the day of partial repayment to the day of the next partial (full) repayment or to the last day of the month | |||||||||||||
Follow the same procedure for partial repayment of a loan in foreign currency and an interest-free loan.
This procedure follows from the provisions of paragraph 2 of Article 212 of the Tax Code of the Russian Federation.
Personal income tax rate
Personal income tax must be withheld from material benefits at a rate of 35 percent (clause 2 of Article 224 of the Tax Code of the Russian Federation). If the loan is issued to a non-resident, then personal income tax rate is 30 percent (clause 3 of Article 224 of the Tax Code of the Russian Federation). This rate applies even if the material benefit arose from a non-resident who is a highly qualified specialist. This is explained by the fact that the income of non-residents – highly qualified specialists, received from labor activity(paragraph 4, clause 3, article 224 of the Tax Code of the Russian Federation).
How to show the repayment of an interest-free loan in accounting
Example
Accounting for interest-free loan transactions
On December 15, 2015, the employee entered into an interest-free loan agreement with the company. He received 100,000 rubles. The contract expires on April 30, 2016.
The employee repays the loan in two parts:
- 80,000 rub. - On April 15, 2016, the employee himself transferred the money to the company’s current account;
- 20,000 rub. - the accountant withheld from the employee’s salary for April at his request.
The employee is a tax resident of the Russian Federation. His salary is 50,000 rubles. No deductions are allowed. Paydays are the 5th and 20th.
How to reflect in accounting the issuance and repayment of an interest-free loan, accrual and transfer of personal income tax for material gain?
Solution
The loan is interest-free. The accountant determines the material benefit on a monthly basis from January to April as of the last day of the month. To calculate it, the accountant uses the refinancing rate in effect as of the last day of the month (subclause 1, clause 2, article 212 of the Tax Code of the Russian Federation).
To calculate the material benefit, the accountant determined 2/3 of the refinancing rate - this is 7.33% per annum (11% x 2/3).
As of January 31, the accountant determined the amount of material benefit and the amount of tax on it.
In the period from December 15, 2015 to January 31, 2016, the employee used the loan for 48 calendar days (17 calendar days + 31 calendar days).
The material benefit as of January 31, 2016 is equal to 961.31 rubles. (RUB 100,000 x 7.33%: 366 calendar days x 48 calendar days).
Personal income tax amount - 336 rubles. (961.31 rub. x 35%).
The employee received his salary. The accountant withheld personal income tax from it, including from material benefits for January. He reflected this operation by posting:
- 6836 rub. (RUB 50,000 x 13% + RUB 961.31 x 35%) - personal income tax is withheld from the salary.
- 6836 rub. - personal income tax is transferred to the budget.
As of February 29, the accountant determined the amount of material benefit and the amount of tax on it.
The material benefit is equal to 580.79 rubles. (RUB 100,000 x 7.33%: 366 calendar days x 29 calendar days). The tax amount is 203 rubles. (RUB 580.79 x 35%).
The employee received his salary. The accountant withheld personal income tax from it, including from material benefits for February. He reflected this operation by posting:
DEBIT 70 CREDIT 68 subaccount “Personal Tax Payments”
- 6703 rub. (RUB 50,000 x 13% + RUB 580.79 x 35%) - personal income tax is withheld from the salary.
DEBIT 68 subaccount “Personal Income Tax Payments” CREDIT 51
- 6703 rub. - personal income tax is transferred to the budget.
As of March 31, the accountant determined the amount of material benefit and the amount of tax on it.
The material benefit is equal to 620.85 rubles. (RUB 100,000 x 7.33%: 366 calendar days x 31 calendar days). The tax amount is 217 rubles. (RUB 620.85 x 35%).
The employee received his salary. The accountant withheld personal income tax from it, including for material benefits for March. He reflected this operation by posting:
DEBIT 70 CREDIT 68 subaccount “Personal Tax Payments”
- 6717 rub. (RUB 50,000 x 13% + RUB 620.85 x 35%) - personal income tax is withheld from the salary.
The accountant transferred the withheld personal income tax to the budget:
DEBIT 68 subaccount “Personal Income Tax Payments” CREDIT 51
- 6717 rub. - transferred to the personal income tax budget.
The employee transferred part of the debt to the company's bank account. The accountant made the following entry:
DEBIT 51 CREDIT 73-1 subaccount “Settlements on loans provided”
- 80,000 rub. - part of the debt under the loan agreement was transferred to the company’s current account.
As of April 30, the accountant determined the amount of material benefit and the amount of tax on it. To do this, he divided April into two periods (see diagram below):
Scheme Number of days of loan use in April
The material benefit is equal to 360.49 rubles. [(RUB 100,000 x 7.33%: 366 calendar days x 15 calendar days) + [(RUB 20,000 x 7.33%: 366 calendar days x 15 calendar days) ]. The tax amount is 126 rubles. (RUB 360.49 x 35%).
The employee received his salary. The accountant withheld from her:
- the remaining balance of the debt under the loan agreement - 20,000 rubles;
- Personal income tax from salary - 6500 rubles. (RUB 50,000 x 13%);
- Personal income tax on material benefits for April - 126 rubles.
The accountant reflected these transactions with the following entries:
DEBIT 70 CREDIT 73-1
- 20,000 rub. - part of the debt under the interest-free loan agreement was withheld from the salary for April;
DEBIT 70 CREDIT 68 subaccount “Personal Tax Payments”
- 6626 rub. (6500 rub. + 126 rub.) - personal income tax is withheld from the salary.
DEBIT 68 subaccount “Personal Income Tax Payments” CREDIT 51
- 6626 rub. - personal income tax is transferred to the budget.
Russian accountant, N 6, 2016
Marina Ilyina,
magazine expert
As is known, not only wage, received in the organization, may be the object personal income tax taxation. IN Tax Code of the Russian Federation There is such a thing as material gain. Income received in the form of material benefits is established Article 212 of the Tax Code of the Russian Federation . From January 1, 2016 in Chapter 23 of the Tax Code of the Russian Federation Numerous amendments have been made, including those related to the calculation of personal income tax on amounts of material benefits.
In accordance with Article 212 of the Tax Code of the Russian Federation, taxpayer income received in the form of material benefits is:
1) material benefit received from savings on interest for the taxpayer’s use of borrowed (credit) funds received from organizations or individual entrepreneurs (clause 1, clause 1, article 212 of the Tax Code of the Russian Federation ).
The procedure for determining the tax base when receiving this material benefit is established by clause 2 of Article 212 of the Tax Code of the Russian Federation. The tax base is defined as follows:
1) excess of the amount of interest for the use of borrowed (credit) funds expressed in rubles, calculated on the basis of two thirds current rate refinancing established by the Central Bank Russian Federation on the date of actual receipt of income by the taxpayer, over the amount of interest calculated based on the terms of the agreement;
2) the excess of the amount of interest for the use of borrowed (credit) funds, expressed in foreign currency, calculated on the basis of 9% per annum, over the amount of interest calculated on the basis of the terms of the agreement.
Tax agents in the event of material benefits from savings on interest will be creditor organizations.
The personal income tax rate depends on whether the borrower is a resident of the Russian Federation or not. In the first case, the personal income tax rate will be determined at 35%, in the second case - 30%.
The date for determining income in accordance with paragraph 7 of paragraph 1 of Article 223 of the Tax Code of the Russian Federation is the last day of each month during the period for which borrowed (credit) funds were provided, regardless of the date of receipt of such a loan (credit). This opinion is shared by the Ministry of Finance of the Russian Federation (letter dated May 4, 2016 N 03-04-06/25687)
The formula for determining material benefits issued in rubles can be presented as follows:
Material benefit = Loan amount x (2/3 x Central Bank rate - Loan rate) / 365 x Number of days of use
EXAMPLE
|
On April 18, 2016, the organization provided its employee with a loan in the amount of 150,000 rubles for 4 months at 5% per annum. The employee is a tax resident. According to the terms of the agreement, interest is paid when the principal is repaid. |
A loan to an employee of an organization can be issued interest-free. The question arises of how to calculate material benefits in this case. Since interest for using an interest-free ruble loan (credit) is not charged to the borrower, the amount of material benefit from saving on interest on such a loan (credit) is calculated using a simplified formula:
Material benefit = Loan amount x (2/3 x Central Bank rate) / 365 x Number of days of use
EXAMPLE
|
The organization provided an employee who is a tax resident of the Russian Federation with an interest-free loan in the amount of 120,000 rubles on March 1, 2016. for a period of six months. According to the terms of the agreement, he returns 20,000 rubles monthly. principal debt (loan). For the first time, N.I. Vasilkov returned part of the loan in the amount of 20,000 rubles. March 31, 2016. This means that on this day he had income in the form of material benefits from saving on interest. |
2) material benefit received from the acquisition of goods (work, services) in accordance with civil contract for individuals, organizations and individual entrepreneurs who are interdependent in relation to the taxpayer;
In accordance with Article 20 of the Tax Code of the Russian Federation, interdependent persons for tax purposes are individuals and (or) organizations, relations between which may influence the conditions or economic results of their activities or the activities of the persons they represent, namely:
1) one organization directly and (or) indirectly participates in another organization, and the total share of such participation is more than 20%. The share of indirect participation of one organization in another through a sequence of other organizations is determined as the product of the shares of direct participation of organizations of this sequence in one another;
2) one individual is subordinate to another individual due to his official position;
3) persons are, in accordance with the family legislation of the Russian Federation, in marital relations, relations of kinship or property, adoptive parent and adopted child, as well as trustee and ward.
Wherein
Material benefits are subject to personal income tax at rates regulated by the Tax Code of the Russian Federation. We will talk further about what constitutes a material benefit and at what rates, depending on the source of its formation, taxation is carried out.
Withholding personal income tax from material benefits
In order to determine at what rate material benefits are subject to personal income tax, it is necessary to find out what material benefits are and from what sources they are generated.
Income in the form of material benefits arises for the taxpayer on the following grounds (Article 212 of the Tax Code of the Russian Federation):
- Saving on interest on borrowed funds received from an organization or entrepreneur.
Note! Since 2018, the conditions for taxation of this type of benefit have been adjusted.
- Price difference upon purchase material assets at related parties(entrepreneurs, organizations) under civil contracts.
- The price difference when purchasing securities and financial instruments forward transactions.
Material benefits are subject to personal income tax in full for all the above reasons. However, there are some peculiarities when obtaining savings on interest for using credit funds. Firstly, the following are not subject to taxation:
- Benefit in the form of an interest-free lending period bank card, received from a bank located in the Russian Federation.
- Interest savings when using loan funds for the construction or purchase of new housing (rooms, apartments, shares) or land plot for construction on the territory of the Russian Federation. This exception applies if the taxpayer has the right to a property deduction, which is confirmed tax authority(Subclause 1, Clause 1, Article 212 of the Tax Code of the Russian Federation).
- Saving on interest when refinancing or refinancing loans for the purchase or construction of new housing (apartments, houses, rooms, shares) or land plots for the construction of residential buildings. Valid if there is a valid right to a property deduction, confirmed by the tax authority (subclause 1, clause 1, article 212 of the Tax Code of the Russian Federation).
If borrowed funds are provided not by a credit or banking institution, but by another enterprise, then the above savings occur personal income tax withholding on a general basis (letter of the Ministry of Finance of Russia dated October 28, 2010 No. 03-04-06/6-256).
Material benefit of personal income tax - 2019
IN Tax Code reflects the rates for taxation of material benefits with personal income tax in 2019. Thus, if an individual receives a material benefit, the personal income tax rate may be as follows:
- For residents of the Russian Federation, a rate of 35% applies to the excess of the interest savings received from the tax agent over the value of 2/3 of the Bank of Russia refinancing rate on the date of receipt of income on loans in rubles and 9% per annum on loans in foreign currency.
- For residents of the Russian Federation, a rate of 13% is established for amounts of material benefits on goods purchased from related parties and transactions with securities.
- For non-residents there is a flat rate of 30% for all reasons for the occurrence of material benefits.
How to calculate material benefits based on interest?
This is the most common type of financial benefit, so we will show the tax calculation for it.
The procedure for calculating material benefits from savings on interest is prescribed in paragraph 2 of Art. 212 of the Tax Code of the Russian Federation.
Loan in rubles
If the loan was received in rubles, then the material benefit is calculated as the excess of the amount of interest for the use of borrowed (credit) funds expressed in rubles, calculated on the basis of two-thirds of the current refinancing rate established by the Central Bank of the Russian Federation on the date of actual receipt of income, over the amount of interest calculated based on the terms of the contract.
The calculation of material benefits received in rubles can be expressed by the formula:
MV = SZ × (2/3 × StCB - StZ) / DG × DZ,
MB - material benefit;
SZ - loan amount;
StCB - refinancing rate of the Central Bank of the Russian Federation on the date of receipt of income;
See the rate for different periods.
StZ - loan rate;
When calculating material benefits, the following must also be taken into account:
1. Material benefit is considered received on the last day of each month during the entire term of the loan agreement. That is, regardless of when interest is paid and whether it is payable according to the agreement, the material benefit is calculated monthly.
Until 2016, the date of receipt of the material benefit was considered the date of payment of interest, and if the loan was interest-free, then the material benefit was considered on the date of repayment of the loan.
It should be taken into account that if the loan was repaid not on the last day of the month, but on some other day, then the material benefit is still calculated on the last day of the month (see letter of the Ministry of Finance dated January 14, 2016 No. 03-04-06/636 ).
2. If within a certain month the loan was partially repaid, then the material benefit is calculated in 2 steps: on the date of repayment of the loan and on the last day of the month.
Loan in foreign currency
If the loan was received in foreign currency, then the material benefit is calculated as the excess of the amount of interest for the use of borrowed (credit) funds expressed in foreign currency, calculated on the basis of 9% per annum, over the amount of interest calculated on the basis of the terms of the agreement.
The calculation of material benefits received in foreign currency can be expressed by the formula:
MV = SZ × (9% - StZ) / DG × DZ,
MB - material benefit;
SZ - loan amount;
StZ - loan rate;
DG - number of days in a year: 365 or 366;
DZ - the number of days of using the loan, including interest-free.
Other nuances of personal income tax with financial benefits
Do not forget that the calculation of material benefits and the personal income tax calculated from it must be documented. For this purpose, an accounting certificate is drawn up.
REFERENCE: The material benefit from saving on interest is reflected in the 2-NDFL certificate under income code 2610.
At personal income tax calculation remember that income in the form of material benefits does not decrease by tax deductions(clause 4 of article 210 of the Tax Code of the Russian Federation).
The calculated personal income tax on material benefits must be withheld from the next payment to the borrower cash income. At the same time, the total retained personal income tax amount cannot exceed 50% of the income paid. If the balance of personal income tax on material benefits remains unretained, then it must be withheld at next payment income. If this fails, at the end of the year the unwithheld tax must be reported to the tax certificate 2-NDFL with sign 2.
NOTE! Since 2016, calculated personal income tax, including on material benefits, cannot be withheld from payments that are not income. For example, personal income tax on material benefits cannot be withheld when compensating for overspending of accountable money by issuing a loan. Until 2016, personal income tax, including from material gain, could be withheld from any funds paid (clause 4 of article 226 of the Tax Code of the Russian Federation).
If the personal income tax calculated on material benefits was withheld when paying vacation or sick leave, then the withheld tax on material benefits must be paid no later than the day of its payment, and the withheld tax on vacation or sick pay can be paid later, but no later than the last day of the month of their payment (clause 6 Article 226 of the Tax Code of the Russian Federation).
Example:
As of March 31, 2019, a material benefit was calculated in the amount of RUB 8,000. and personal income tax was calculated on material benefits in the amount of 2800 rubles. (8,000 × 35%). On April 4, 2019, vacation pay was calculated in the amount of 54,000 rubles, personal income tax on which is 7,020 rubles. (54,000 × 13%), and vacation pay was transferred to the employee minus the calculated personal income tax from vacation pay and financial assistance in the amount of 44,180 rubles. (54,000 - 7,020 - 2,800). Pay personal income tax on financial assistance in the amount of 2,800 rubles. You need to pay personal income tax on the amount of vacation pay in the amount of 7,020 rubles no later than April 5. required no later than April 30, 2019.
KBK personal income tax for material benefits in 2019 is as follows - 182 1 01 02010 01 1000 110.
Material benefits from interest savings are not subject to insurance premiums.
Results
Material benefit is the income of an individual, subject to personal income tax in a special manner, using special tax rates. Tax must be calculated on each last day of the month. This is done by the tax agent. He also transfers the tax to the budget or informs the taxpayer and tax authorities about the impossibility of withholding.