Differences in accounting for interest on a loan for the acquisition of fixed assets exist not only between accounting and tax accounting. Regulatory documents Accounting guides also provide a choice of interest accounting options.
A.Yu. Larichev, UNP expert
Example.
On March 1, 2003, the organization received a loan from a bank for a period of two months (from March 1 to April 30) for the purchase of a woodworking machine. Loan amount - 240,000 rubles, interest rate for using the loan - 25 percent per annum. Interest on the loan is calculated and paid at the end of each month.
On March 31, the organization purchased a machine for 270,000 rubles, including VAT - 45,000 rubles. On the same day it was put into operation.
The following entries must be made in the organization's accounting records.
March 1, 2003:
Debit 51 Credit 66
- 240,000 rub. - loan received.
March 31, 2003:
Debit 08 Credit 60
- 225,000 rub. - the debt to the seller for payment for the machine is reflected;
Debit 19 Credit 60
- 45,000 rub. - the amount of VAT is taken into account;
Debit 60 Credit 51
- 270,000 rub. - the fixed asset has been paid for.
Interest accrued before the fixed asset is accepted for accounting is included in its cost. This is the requirement of paragraph 8 of PBU 6/01 “Accounting for fixed assets”. A similar requirement is contained in paragraph 30 of PBU 15/01 “Accounting for loans and credits and the costs of servicing them.”
The difference between the requirements of these documents is that the latest PBU prescribes the inclusion of interest in the cost of the fixed asset accrued not until the moment of capitalization, but until the 1st day of the month following the month the fixed asset was accepted for accounting. Therefore, it is better for organizations to consolidate in their accounting accounting policy interest accounting procedure.
In our example, the difference in the two accounting standards will not affect accounting, since the fixed asset was registered on the last day of the month:
Debit 08 Credit 66
- 5096 rub. (RUB 240,000 5 25% 5 5 31 days: 365 days) - interest accrued before the machine was put into operation;
Debit 66 Credit 51
- 5096 rub. - interest paid;
Debit 01 Credit 08
- 230,096 rub. (225,000 + 5096) - the machine was put into operation.
Interest accrued after the fixed asset was accepted for accounting (or from the 1st day of the month following the month the fixed asset was accepted for accounting) are reflected as operating expenses (clause 11 of PBU 10/99 “Organizational expenses”).
April 30, 2003:
Debit 91-2 Credit 66
- 4932 rub. (RUB 240,000 5 25% 5 5 30 days: 365 days) - interest accrued on the loan;
Debit 66 Credit 51
- 4932 rub. - interest paid.
Let's move on to tax accounting for interest. In it, all interest, regardless of the time of accrual - before or after the fixed asset is registered - is written off as non-operating expenses (subclause 2, clause 1, article 265 of the Tax Code of the Russian Federation).
Now about the amount of interest that can be taken into account (Article 269 of the Tax Code of the Russian Federation). An organization can take into account all accrued interest, provided that their amount does not significantly deviate from the average level of interest charged on debt obligations issued in the same quarter (month, if the organization makes monthly advance payments on actually received profits) on comparable terms.
If there are no such debt obligations or at the request of the organization, the maximum amount of interest on debt obligation in rubles, which can be taken into account when taxing profits, is determined as by the Bank of Russia on the date of receipt borrowed money, increased by 1.1 times (clause 5.4.1 of the income tax guidelines). Let's assume that in our example the organization uses the second option tax accounting percent.
A few words about the interest accounting period. If a loan or credit is taken out for more than one reporting period, interest expenses are recognized at the end of the corresponding reporting period (clause 8 of Article 272 of the Tax Code of the Russian Federation).
In our example, the organization will include in expenses:
March 31, 2003 - 4709 rubles. (RUB 240,000 5 (21% 5 1.1) 5 31 days/365 days);
April 30, 2003 - 4557 rubles. (RUB 240,000 5 (21% 5 1.1) 5 30 days/365 days).
Excessive expenses in the amount of 762 rubles. ((5096 + 4932) - - (4709 + 4557)) are not accepted for tax purposes (clause 8 of Article 270 of the Tax Code of the Russian Federation).
For information
If your organization took out an interest-free loan and you were advised to calculate income in the form of unpaid interest at the refinancing rate and impose income tax on it, do not rush to do this.
Tax officials argue their position on this issue by saying that receiving an interest-free loan is nothing more than free receipt services, which means that income from this is subject to income tax (clause 8 of Article 250 of the Tax Code of the Russian Federation).
However, for income tax purposes, the provision of a loan is not a service. According to paragraph 5 of Article 38 of the Tax Code of the Russian Federation, a service is an activity the results of which are sold and consumed in the process of its implementation. Obviously, getting interest-free loan does not fit this definition, since nothing is consumed (for more information about this, read the article “Free of charge, but not for nothing” on page 9 of UNP No. 26, 2002).
Interest is a fee for using a loan (loan)<*> .
The organization can attract credits (loans), including for payments for investment assets.
Interest on credits (loans) received for the acquisition (creation) of:
— fixed assets (fixed assets);
— intangible assets(NMA);
— investment property(IN).
———————————
<*> Taking into account the restrictions established for interest on debt obligations (Article 131-1 of the Tax Code).
Explanations
In accounting:
Interest for using a credit (loan), accrued:
— before accepting objects for accounting as investment assets, their initial value is formed in account 08 “Investments in long-term assets”;
- after, - are included in expenses for financial activities and are accounted for in account 91 “Other income and expenses”<*> .
Since interest is accrued for each day the loan is used, we believe that on the date the object is accepted for accounting as fixed assets, intangible assets, and personal assets, the amount of interest for using the loan for that day should be calculated and included in the cost of this object<*>. For example, interest for using a loan is accrued from June 1 to June 30. The object was accepted for accounting as fixed assets on June 15. Interest accrued from June 1 to June 15 should be included in the cost of the fixed asset.
When taxing profits:
1) interest allocated to account 08 and included in the cost of fixed assets, intangible assets, personal assets, at the time of accrual when taxing profits is not taken into account<*> .
These interests can be taken into account when taxing profits as expenses as part of accrued depreciation in the manner prescribed by law.<*> ;
2) interest on loans received for the purchase of fixed assets, intangible assets, personal identification, reflected on account 91, is taken into account when taxing profits as part of expenses<*> .
Not taken into account when taxing profits, interest that:
— accrued for overdue loans (credits)<*> .
— accrued for loans (credits) used to purchase investment assets that will not be used in entrepreneurial activity <*> .
We believe that if interest on overdue credits (loans) is included in the initial cost of objects, then depreciation on such objects can be in full expensed taken into account when taxing profits. In this case, it is necessary to comply with the restrictions on inclusion in costs established for depreciation, namely: objects must be used in business activities, while the OS is in operation<*> .
— accrued for loans that are controlled debt <*>. The organization may need to remove them from costs at the end of the year.
The amount of expenses that are reflected in accounting, but are not taken into account when taxing profits, arises constant difference and the corresponding constant tax liability. This difference is not reflected in accounting<*> .
Example
The organization took out a loan from the bank Belarusian rubles in the amount of 50,000 rubles. for the purchase of production equipment for a period of 24 months with a deferred payment of the principal debt of 6 months.
In September the amount is 50,000 rubles. was credited to the organization’s account and transferred to the equipment supplier in the same month. In October, the equipment arrived and was accepted for accounting as a fixed asset.
Interest on the loan amounted to (conditionally):
— for September — 415 rubles;
— for October — 420 rubles, including 200 rubles. accrued before the equipment was accepted for accounting as fixed assets, 220 rubles. — after the equipment is accepted for accounting as fixed assets.
| Wiring | Amount, rub. | Contents of operation |
| Entries in September | ||
| D-t 51 - K-t 67-1 | 50000 | Receipt of loan reflected |
| Dt 60 - Kt 51 | 50000 | Reflected payment to the supplier for equipment |
| Dt 08-1 - Kt 67-3 | 415 | Interest for using the loan in September is reflected |
| Entries in October | ||
| Dt 08-1 - Kit 60 | 50000 | The receipt of fixed assets is reflected |
| Dt 08-1 - Kt 67-3 | 200 | Interest for October accrued before the equipment was accepted for accounting as fixed assets is reflected |
| D-t 01 - K-t 08-1 | 50615 | The equipment was accepted for accounting as fixed assets and put into operation (50000 + 415 + 200) |
| Dt 91-4 - Kt 67-3 | 220 | Interest for October accrued after the equipment was accepted for accounting as fixed assets is reflected |
In the income tax return interest is reflected as part of expenses (indicator of line 2 of section I) in the amount of 220 rubles.
Often a company needs borrowed funds - for example, to invest in fixed assets. In this case, the accountant has a lot of questions regarding accounting for accrued interest. Nalian Kulaeva, a tax consultant at BKR-INTERCOM-AUDIT CJSC, will help you sort them out.
PBU will help
Guided by clause 23 of the Accounting Regulations “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 object, which is subsequently written off as costs through the depreciation mechanism. A different procedure for accounting for interest, namely write-off for current expenses, is provided for by PBU 15/01 only for borrowed funds associated with 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 acquiring and creating depreciable property (clause 5 of Article 270 of the Tax Code of the Russian Federation). Based on this, the amount of accrued interest should be taken into account in the initial cost of such an object, especially since Art. 257 of the Tax Code of the Russian Federation directly states that the initial cost of a fixed asset takes into account all expenses for its acquisition, construction, production, delivery and bringing it to a state in which it is suitable for use. The only exceptions are VAT and excise taxes, except in cases provided for by the Tax Code of the Russian Federation. It is obvious that in 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 clause 1 art. 265 Tax Code of the Russian Federation. Expenses in the form of interest on obligations of any type - both current and investment - taking into account the requirements of Art. 269 of the Tax Code of the Russian Federation are included in non-operating expenses. Therefore, taxpayers must reflect interest accrued for the use of borrowed funds as non-operating expenses. Despite the fact that the work of an accountant becomes more labor-intensive, from an economic point of view this accounting option is beneficial for the taxpayer, allowing the company to reduce tax payments, since the amount of accrued interest (taking into account the requirements of Article 269 of the Tax Code of the Russian Federation) reduces the profit of the current period. Moreover, both the Ministry of Finance of the Russian Federation and tax authorities For a long time they did not object to such tactics.
However, now the situation seems to be changing, and this is due to the appearance of 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 from a taxpayer about the procedure for calculating interest during the period of equipment conservation, the Ministry of Finance of the Russian Federation provided clarification on how the amount of accrued interest on loan servicing should be taken into account. It follows from the provisions of this letter that during the period of conservation of work on the installation of an object, the taxpayer has the right to take into account the amounts of accrued interest as part of non-operating expenses.
However, the letter practically implies one more important conclusion- that during the period of creation of the object, interest on the loan paid by the taxpayer should be taken into account in its original cost.
Therefore, now many accountants are concerned about how in tax accounting they should keep track of interest that is accrued for the use of borrowed funds taken to purchase depreciable property.
attention
The inclusion of interest in the initial cost of an object ceases from the first day of the month following the month the asset was accepted for accounting as an object of fixed assets (clause 30 of PBU 15/01). If an 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 (clause 31 of PBU 15/01).
What options?
According to the author, the current version of Chapter 25 of the Tax Code of the Russian Federation does not give an unambiguous answer to this question, therefore, based on the provisions of paragraph 1 of Art. 257 Tax Code of the Russian Federation, clause 4, art. 252 of the Tax Code of the Russian Federation, clause 5 of Art. 270 Tax Code of the Russian Federation, paragraph 2, paragraph 1, art. 265 of the Tax Code of the Russian Federation and Art. 269 of the Tax Code of the Russian Federation, a taxpayer has several options for accounting for interest:
- Interest until the asset is accepted for accounting is included in the initial cost of the asset, and then taken into account as part of non-operating expenses;
- Interest is included in non-operating expenses;
- Interest until the asset is accepted for accounting is included in the initial cost; after that, it is not taken into account for tax purposes.
The first option is beneficial from the point of view of bringing accounting closer together, but increases the amount tax payments, the second - reduces tax payments, but ultimately leads to differences between balance sheet and taxable profit (clause 1 of Article 257 of the Tax Code of the Russian Federation and clause 5 of Article 270 of the Tax Code of the Russian Federation). The third is not beneficial at all from the taxpayer’s point of view, but nevertheless also has a “right to life.”
Since tax accounting for interest on targeted borrowed funds taken for the acquisition (creation) of fixed assets today does not have an unambiguous interpretation, then, in the author’s opinion, the organization has the right to decide independently how it will account for interest. When resolving this issue, the company must proceed from the fact that it is more profitable for it - closer accounting or reduction of tax payments to the treasury. The chosen option is fixed in the accounting policy for tax purposes.
Example
To purchase equipment, organization “A” borrowed from the bank targeted loan in the amount of 2,000,000 rubles at 15% per annum period for half a year. In accordance with the terms of the agreement, interest is paid to the bank on a monthly basis.
Loan received on April 10 current year. The cost of the equipment is 2,360,000 rubles (including VAT - 360,000 rubles). Payment to the supplier was made on April 12, delivery cost - 23,600 rubles, including VAT - 3,600 rubles. The object was registered in May of this year and its use began in the same month.
The accounting policy for tax purposes stipulates that before an object is accepted 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 taken into account as part of non-operating expenses. Term beneficial use in accounting is established in accordance with the Classification of fixed assets, approved by Decree of the Government of the Russian Federation of January 1, 2002 No. 1. Let's assume that this equipment belongs to the fourth depreciation group, fixed time useful life is 61 months, depreciation is calculated using the straight-line method.
To simplify the example, let us assume that the amount of accrued interest does not exceed the maximum amount limited by the requirements of Art. 269 of the Tax Code of the Russian Federation.
In the accounting records of organization “A” the data 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 different amounts of the initial cost of the fixed assets: in accounting - 2,070,432.87 rubles, and in tax accounting - 2,000,000 rubles.
The amount of depreciation in accounting is 33,941.52 rubles, in tax accounting - 32,786.89 rubles. A subtracted time difference arises, leading to the formation of a deferred tax asset(SHE) (33,941.52 - 32,786.89) × 24% = 277.11 rubles. An entry should be made in accounting: Debit 09 Credit 68. However, using this option leads to a reduction in the company’s tax payments.
| Account correspondence | Amount, rubles | Contents of operation | |
|---|---|---|---|
| Debit | Credit | ||
| April | |||
| 51 | 66 | 2 000 000 | Received a targeted loan for the purchase of equipment |
| 60 | 51 | 2 000 000 | Payment made to supplier |
| 08 | 60 | 2 000 000 | The cost of equipment is reflected as part of investments in non-current assets |
| 19 | 60 | 360 000 | VAT presented for payment by the supplier is reflected |
| 08 | 66 | 20 367,12 | Interest accrued for using the loan in April 15% / (365 / 100) × 2,360,000 × 21 days |
| May | |||
| 66 | 51 | 20 367,12 | Interest paid to the bank for April |
| 08 | 76 | 20 000 | The cost of equipment delivery is included in the original cost |
| 19 | 76 | 3 600 | VAT presented by the carrier is reflected |
| 08 | 66 | 30 065,75 | Interest accrued on the loan for May 15% / (365 / 100) × 2,360,000 × 31 days |
| 01 | 08 | 2 070 432,87 | Equipment is accepted for accounting as a fixed asset |
| 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 for May |
| 91-2 | 66 | 29 095,89 | Interest accrued for using the loan in June 15% / (365 / 100) × 2,360,000 × 30 days |
| 20 | 02 | 33 941,52 | Depreciation accrued for June |
Simplified tax system: acquisition of fixed assets using borrowed funds (Sukhanova E.)
Date of article publication: 09.14.2013
When calculating the single tax, “simplified” people who have chosen the appropriate object of taxation have the right to take into account only a limited list of expenses. But it contains both interest on received loans and borrowings, as well as the costs of acquiring fixed assets. Meanwhile, the initial cost of OS on the simplified tax system is formed according to the rules accounting, according to which it may also include interest on the loan...
“Simplers” with the object of taxation “income minus expenses” recognize in tax accounting the expenses listed in clause 1 of Art. 346.16 Tax Code. Under paragraphs. 1 it includes expenses for the acquisition of fixed assets, and under paragraphs. 9 - interest paid for provision for use Money(credits, loans). But to what type of expenses should the corresponding interest be attributed if the loan was received specifically for the purpose of purchasing fixed assets?
OS acquisition costs
Under the simplified tax system, fixed assets are understood as fixed assets that are recognized as depreciable property in accordance with the provisions of Chapter. 25 of the Tax Code (clause 4 of article 346.16 of the Tax Code). Therefore, firstly, we are talking about part of the property used as means of labor for the production and sale of goods (performing work, providing services) or for managing an organization, with an initial cost of more than 40,000 rubles. (Clause 1 of Article 257 of the Tax Code). Secondly, it must belong to the taxpayer by right of ownership, be used to generate income and have a useful life of at least 12 months (clause 1 of Article 256 of the Tax Code).
When purchasing an OS directly during the period application of the simplified tax system their cost is included in expenses from the moment the facility is put into operation (submission of documents for registration of property rights, if required) and is taken into account during tax period, that is, a year, in equal shares for reporting periods(Clause 3 of Article 346.16 of the Tax Code). The procedure for recognizing such expenses assumes that they are taken into account on the last day of the reporting (tax) period in the amount of the amounts paid. Thus, as representatives of the Ministry of Finance explain, the taxpayer has the right to begin writing off the cost of fixed assets acquired during the period of application of the simplified tax system from the reporting period when the last of two conditions is met: commissioning or payment of the fixed asset. At the same time, if we are talking about real estate, you will have to wait for the third condition to be fulfilled, namely the submission of documents for state registration of rights to the object real estate(Letters of the Ministry of Finance of Russia dated April 15, 2009 N 03-11-06/2/65, dated June 6, 2008 N 03-11-05/142, Federal Tax Service of Russia dated March 31, 2011 N KE-3-3 /1003).
Interest on the use of funds
Clause 2 of Art. 346.16 of the Tax Code provides that expenses in the form of interest on loans and credits are accepted for accounting on the simplified tax system in the manner prescribed for income tax payers. In other words, “simplified people” in this case must be guided by Art. 269 of the Code, and therefore, for the purpose of calculating the single tax, interest paid on loans and borrowings is subject to normalization.
Article 269 of the Tax Code offers taxpayers a choice of two ways to determine the limit on the recognition of interest in expenses.
The first assumes that the calculation limit amount interest taken into account for tax purposes is based on the average level of interest on comparable loans for one quarter (the deviation should not exceed 20% in one direction or another).
The second prescribes focusing on the Bank of Russia refinancing rate, increased by a certain coefficient. Thus, if we are talking about interest on a debt obligation expressed in rubles, then the limit on recognizing their amount in expenses until 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 rates of the Bank of Russia, multiplied by a coefficient of 0.8 (clause 1.1 of Article 269 of the Tax Code).
Any taxpayer has the right to choose from the proposed methods, the main thing is to consolidate it in the accounting policy. Another thing is that in the absence of comparable loans, willy-nilly you will have to focus on the refinancing rate of the Bank of Russia.
In the book of income and expenses, expenses in the form of interest on loans and borrowings are reflected on the date of their payment, if, of course, by that moment they can be considered completed. In other words, two conditions must be met: billing period, for which interest has been accrued, must be completed and the debt on it must be repaid.
Loan interest and investment asset
The initial cost of a fixed asset created or acquired after the transition to the simplified system is formed according to the accounting rules (clause 3 of Article 346.16 of the Tax Code, clause 3.10 of the Procedure for filling out the book of income and expenses on the simplified tax system, approved by Order of the Ministry of Finance of Russia dated October 22 2012 N 135n). According to clause 8 of PBU 6/01 “Accounting for fixed assets”, it consists of the actual costs of acquisition, construction and production, with the exception of value added tax and other refundable taxes. At the same time, loan interest is not mentioned among these, but it is mentioned that the cost of an asset can include “other costs” directly related to its purchase or production.
In turn, PBU 15/2008 “Accounting for expenses on loans and credits” (approved by Order of the Ministry of Finance of Russia dated October 6, 2008 N 107n) directly stipulates that interest payable to the lender directly related to the acquisition of an investment asset is included at its original cost (clause 7 of PBU 15/2008). An object in respect of which two conditions are simultaneously met is recognized as such:
- preparing an object for use requires a long time;
- the acquisition, construction and (or) production of an object requires significant expenses.
Note! Small businesses are allowed to independently choose the procedure for accounting for borrowing costs: either in the cost of an investment asset or as part of other expenses (clause 7 of PBU 15/2008).
What terms should be considered “long” and expenses “significant” are not deciphered in the PBU. The corresponding criteria must be developed independently by a business entity and consolidated in its accounting policies. Thus, a fixed asset can also be recognized as an investment asset. And interest on a loan or credit spent on the acquisition of fixed assets is included in the cost if the following conditions are met:
- expenses for the acquisition, construction and (or) production of an investment asset are subject to recognition in accounting;
- borrowing costs associated with the acquisition, construction and (or) production of an investment asset are subject to recognition in accounting;
- work has begun on the acquisition, construction and (or) production of an investment asset (clause 9 of PBU 15/2008).
Among other things, this means that the cost of an asset can only include interest that was paid before its commissioning or the start of actual use in business. Interest amounts that are not transferred to the cost of the fixed asset are written off as other expenses.
Between two options
In a Letter dated June 11, 2013, representatives of the Russian Ministry of Finance indicated that interest on loans and borrowings, even if received and spent on the acquisition of fixed assets, should still be taken into account in the simplified tax system in accordance with paragraphs. 9 clause 1 art. 346.16 of the Internal Revenue Code. Among other things, this means that they can be taken into account only within the limits established by Art. 269 of the Code.
At the same time, speaking about the interest paid by the “simplified” in connection with the acquisition of fixed assets in installments, specialists from the financial department order that they be included in the cost of the fixed assets and written off in accordance with paragraphs 1 and 3 of Art. 346.16 of the Tax Code (Letters of the Ministry of Finance of Russia dated June 30, 2011 N 03-11-06/2/101, dated July 2, 2010 N 03-11-11/182). Let us recall that installment payment is a type of commercial loan (clause 1 of Article 823 of the Civil Code). Meanwhile, as officials point out, according to clause 23 of the Regulations on accounting and reporting (approved by Order of the Ministry of Finance of Russia dated July 29, 1998 N 34n), the actually incurred costs when assessing property include, in particular, the costs of its acquisition , including interest paid on a commercial loan provided upon acquisition of fixed assets. Similar conclusions are contained in the Letter of the Federal Tax Service of Russia dated February 6, 2012 No. ED-4-3/1818.
Such a different approach to purchasing fixed assets in installments and using borrowed funds can be explained, perhaps, only by the fact that, on the basis of paragraphs. 9 clause 1 art. 346.16 of the Tax Code takes into account interest paid for the provision of funds for use (credits, borrowings). Meanwhile, with a commercial loan, in particular with an installment plan, the taxpayer does not directly receive funds for use. Consequently, the specified norm of the Tax Code is not applicable in this case.
Tax accounting of interest
Officials indicated (letter dated March 23, 2015 No. GD-4-3/4568) that interest on loans received for the purchase of fixed assets are included in non-operating expenses (subclause 2, clause 1, article 265 of the Tax Code of the Russian Federation). In other words, such costs are not included in the initial cost of the object.
Officials expressed the same position earlier (letters dated 06/11/13 No. 03-03-06/1/21757, dated 04/26/13 No. 03-03-06/1/14650, Federal Tax Service of Russia for the city dated 09/02/08 No. 20 -12/083116).
Thus, additional expenses related to the acquisition of fixed assets may lead to discrepancies between accounting and tax accounting data.
Interest accounting
In accounting, costs associated with obtaining and using loans are reflected in accordance with the rules of PBU 15/2008 “Accounting for expenses on loans and credits.” Companies can either write off such expenses as other expenses or include them in the initial cost of a fixed asset, but only on the condition that such property is an investment asset (clause 7 of PBU 15/2008).
An investment asset is considered to be property the preparation of which for use requires a long time and significant expenses for acquisition, construction, and production. These are, for example, objects of unfinished production and unfinished construction.
At the same time, the department identifies the concepts of “investment asset” and “fixed asset” (letter of the Ministry of Finance of Russia dated November 29, 2010 No. 03-03-06/4/114).
Courts usually proceed from long term use of an investment asset (resolution of the Federal Antimonopoly Service of the West Siberian District dated September 3, 2012 No. A27-20613/2011).
1. Accounting for interest if the object is not an investment asset.
Interest on loans for the purchase of fixed assets is reflected in accounting as part of other expenses (debit of account 91). In this case, the accounting and tax accounting data will match.
2. Accounting for interest if the object is an investment asset.
Interest on borrowed funds used for the acquisition (construction, production) of an investment asset should be included in its initial cost (debit of account 08). And here discrepancies arise between accounting and tax accounting data.
If interest is not reflected in the initial cost of objects that are investment assets, the company will underestimate tax base on property tax.
Denis Savin,
Tax practice law firm"Bazarov, Golikov and partners"