LEASING AS A WAY TO OPTIMIZE TAXATION WHEN BUYING FIXED ASSETS

 

LEASING AS AWAY TO OPTIMIZE TAXATION WHEN BUYING FIXED ASSETS

1.   lease payments are recognized as expenses for income tax (subparagraph 10, clause 1 of article 264 of the Tax Code of the Accountants in WalsallFederation);

2.   depreciation is calculated using a special coefficient (subparagraph 1 of clause 2 of article 259.3 of the Tax Code of the Accountants in Walsall Federation);

3.   accrual of depreciation in an accelerated mode in accounting allows you to save on property tax (clause 19 PBU 6/01 "Accounting for fixed assets");

4.   The lessee does not pay transport tax, provided that the vehicle is registered to the lessor (according to Article 357 of the Tax Code of the Accountants in Walsall Federation, the person for whom the vehicle is registered and recognized as an object of taxation is recognized as a payer of transport tax).

The Federal Tax Service of Russia pointed out the specifics of paying transport tax under a lease agreement back in 2015:

§  if a vehicle owned by the lessor (but not registered to it) is transferred to the lessee and at the same time is temporarily registered to it (to the lessee), then the lessee is the payer of the transport tax (a similar opinion is contained in the letter of the Ministry of Finance of Russia dated 03.07.2019 No. 03 -05-05-04 / 48956);

§  if the vehicle is registered to the lessor, but temporarily transferred at the location of the lessee and temporarily registered at the place of its location, then the lessor must pay the tax;

  lease payments may be uneven, which means that VAT in some month will be less, in some more (it all depends on the payment schedule established by the lease agreement).

Comments

Post a Comment

Popular posts from this blog

LEASING AND TAX RISKS

  LEASING AND TAX RISKS Acquisition of a building, equipment, or vehicles carries certain prospects for the company's activities, but at the same time requires significant investments. The budget of even a very successful legal entity cannot always afford such expenses, so the management is forced to look for additional sources of financing or to choose other options, such as loans, rent or leasing. If the first two are not always ideal in terms of conditions, then leasing not only allows you to redeem the subject of the agreement, but also,  save on taxes from  Accountants in Walsall . Leasing, like any operation that is beneficial from the point of view of tax the legislation is checked by specialists from the Federal Tax Service Inspectorate with special care, therefore it is important to know and remember about the tax risks that accompany such a transaction. THE ESSENCE OF LEASING Leasing operations are regulated by the provisions of the Federal ...
Read more

TAX RISKS SLOVE BY GREYSTONE-UK

  TAX RISKS Let's consider what situations the lessor and lessee may face, as well as analyze the tax risks. 1 - THE ORIGINAL COST OF THE OBJECT IS INDICATED INCORRECTLY The initial cost of the leased object is established by the lessor in accordance with the requirements of paragraph 1 of Art. 257 of the Tax Code of the Russian Federation. This means that the lessor  has theright to include in the initial cost  of the leased asset the number of expenses for its acquisition, delivery, manufacture, and bring to a condition suitable for use. An exception is taxes reimbursed from the budget or recognized as expenses in accordance with the Tax Code of the Russian Federation (Letter of the Ministry of Finance of Russia dated 20.04.2016 No. 03-03-06 / 1/22656). The procedure for the formation of the initial cost of the leased asset, if it is recorded on the balance sheet of the lessee, is not defined. Depreciation is calculated on the basis of the in...
Read more

DISTORTED THE INCOME TAX BASE AND DID NOT CORRECT THE ERROR

  4 - DISTORTED THE INCOME TAX BASE AND DID NOT CORRECT THE ERROR If an error is found in the calculation of the tax base relating to the previous tax (reporting) period, in the current tax (reporting) period, the  Small Business Accountants in Walsall  tax base and the tax amount is recalculated for the period in which the specified error was made. If it is impossible to determine the period of the error, the recalculation of the tax base and the amount of tax is performed for the tax (reporting) period in which the error was detected. The taxpayer has the right to recalculate the tax base and the amount of tax for the tax (reporting) period, in which an error related to the previous tax (reporting) period was detected, also in cases where the mistake led to the excessive payment of tax (clause 1 of article 54 Tax Code of the UK  Federation, Letter of the Ministry of Finance of UK dated 08/10/2017 No. 07-01-09 / 51246). 5 - VAT DEDUCTION BY THE LESSOR IN CAS...
Read more