Accounting for assets on the lessee's balance sheet. Tax and accounting of leasing. Accounting: leasing payments
L.A. answered questions. Elina, economist-accountant
Leasing: specific difficulties
Questions related to accounting for transactions under a leasing agreement come to our editorial office with enviable regularity. Moreover, both from lessors and lessees. We decided to publish the answers to the most interesting of them.
The lessee has different values of the leased asset in tax and accounting records
L.E. Zakirova, St. Petersburg
The leased car is recorded on our (lessee's) balance sheet. The total amount of leasing payments including VAT is RUB 1,180,000. (including VAT RUB 180,000). The leasing payment includes the cost of the leased item - 800,000 rubles. without VAT. And the last payment is highlighted as its redemption value - 9,500 rubles. At what cost should we capitalize the leased asset in accounting and tax accounting?
: In accounting, the initial cost is defined as the sum of all payments under the leasing agreement excluding VAT. In your case, it is equal to 1,000,000 rubles. (RUB 1,180,000 – RUB 180,000). This amount also includes the redemption price (9,500 rubles) clause 8 PBU 6/01.
In tax accounting, a completely different rule applies: the initial cost is equal to the amount of the lessor’s expenses for the acquisition of the leased item. clause 1 art. 257 Tax Code of the Russian Federation. In your case - 800,000 rubles. But do not forget to obtain from the lessor copies of documents confirming his expenses.
Payment to an intermediary for finding a lessor is an expense
A.V. Ostapenko, Moscow region.
We entered into a leasing agreement for a period of 10 years through an agent. The property is recorded on the lessee's balance sheet. Can we write off the costs of paying for an agent's services as a lump sum in the month of signing the report on services rendered? Or should they be taken into account when forming the initial cost of the leased asset?
: As you understand, it is safest to spread out these costs over the entire term of the leasing agreement:
- in accounting the fee to the intermediary must be recognized as expenses associated with the acquisition of fixed assets and included in the initial cost clause 8 PBU 6/01. Otherwise, you will underestimate the property tax base;
- in tax accounting You cannot include payment for the services of an intermediary into the initial cost of the leased item. Indeed, in tax accounting, the lessee must take into account the amount of expenses as the initial cost lessor for the purchase of a leased item clause 1 art. 257 Tax Code of the Russian Federation.
Thus, in tax accounting, the costs of paying for an agent’s services must be taken into account as an independent expense. The Tax Code does not have a strict requirement to distribute such expenses over the entire term of the leasing agreement. Therefore, some companies immediately write off payment for services related to concluding a contract as current expenses. And the courts support them see, for example, Resolution of the Federal Antimonopoly Service dated April 27, 2012 No. A55-17325/2011.
However, the inspectors, citing the need to comply with the principle of uniform recognition of income and expenses in clause 1 art. 272 Tax Code of the Russian Federation, they may well think otherwise. Thus, in one of the latest letters, the Ministry of Finance expressed the following position: the lessee’s expenses for bringing the leased asset to a state in which it is suitable for use should be included in the tax “profitable” base during the term of the leasing agreement. Letter of the Ministry of Finance dated July 27, 2012 No. 03-03-06/1/363.
As experts from the Ministry of Finance assured us, agency services are not an expense that must be extended over the entire term of the leasing agreement.
FROM AUTHENTIC SOURCES
Consultant of the Department of Tax and Customs Tariff Policy of the Ministry of Finance of Russia
“ The initial cost of the leased asset does not include the lessee’s expenses for paying for the services of a third-party organization for conducting negotiations with the leasing company. The Tax Code establishes that the initial cost of the leased asset is formed based on the cost of the property itself and additional expenses incurred by the lessor (and not the lessee). The lessee's costs in question may be included in income tax expenses as an independent expense. Moreover, there is no need to write off such expenses gradually - during the term of the leasing agreement. After all, we are not talking about commissioning and installation of equipment.
Thus, the costs of paying for the services of an agent for concluding a leasing agreement can be taken into account at a time on the date of signing the act of provision of services. Moreover, such costs must meet the conditions of Art. 252 of the Tax Code of the Russian Federation, that is, they must be economically justified and.”
SPI of the leased asset depends not only on the duration of the agreement
IN. Sidorov, Leningrad region.
Is it possible in accounting and tax accounting to establish the useful life (USI) of the leased asset based on the validity period of the leasing agreement (for example, 2 years)?
: In accounting, you must set the useful life based on the expected period of time during which you will use the leased asset. If, after completion of the leasing agreement, you do not repurchase the leased asset or, after repurchase, immediately plan to sell it, then the useful life of the leased property may be equal to the term of the leasing agreement.
But in tax accounting you should focus on the deadlines established by the OS Classification approved Government Decree No. 1 dated 01.01.2002. SPI cannot be less than the minimum period established for the depreciation group. And it doesn’t matter how long you plan to use your OS.
Paid the old lessee to take his place? Payment is an expense
I.V. Marchenkov, Orel
The leased asset is recorded on the lessor's balance sheet. The lessee assigned his rights and obligations under the agreement to our company (to the new lessee). We paid him a remuneration of 767,000 rubles. How to take this amount into account in tax accounting?
: The remuneration paid by your organization to the old lessee is nothing more than a payment for the transfer of property rights under the leasing agreement. It can be taken into account as part of other expenses associated with production and sales. But it is safer to write it off not immediately, but evenly on the last day of each month during the remaining term of the leasing agreement, together with current leasing payments and subp. 49 clause 1 art. 264, paragraph 1, sub. 3 paragraph 7 art. 272 Tax Code of the Russian Federation; Letter of the Department of Tax Administration of Russia for Moscow dated January 27, 2004 No. 26-12/5331.
Such fees must be subject to VAT subp. 1 clause 1 art. 146, paragraph 8 of Art. 167 Tax Code of the Russian Federation; clause 1 art. 389 Civil Code of the Russian Federation. Therefore, the amount you paid is RUB 767,000. certainly includes VAT. If this is so, then you should write off only the amount cleared of VAT as expenses in tax accounting - that is, 650,000 rubles. And the input tax presented by the previous lessee (RUB 117,000) according to his invoice can be immediately deducted from subp. 1 item 2 art. 171, paragraph 1, art. 172 Tax Code of the Russian Federation.
Changing the lessee does not cancel the increased depreciation
I.V. Marchenkov, Orel
After signing the assignment of rights under the leasing agreement with the old lessee and receiving the leased property, can we, as a new lessee, use an increasing depreciation factor of 3?
: Yes, you can, but only if a number of conditions are met. It is necessary that the possibility of applying this increased coefficient is provided for both by the leasing agreement itself and by your accounting policy Letters of the Ministry of Finance dated 02/11/2011 No. 03-03-06/1/93, dated 07/14/2009 No. 03-03-06/1/463.
In tax accounting, it is also important that the leased asset belongs to depreciation groups 4-10 (that is, its useful life must be more than 5 years) subp. 1 item 2 art. 259.3 Tax Code of the Russian Federation.
And in accounting, the method of calculating depreciation is important. The acceleration factor can only be used if you are depreciating using the reducing balance method. clause 19 PBU 6/01; clause 54 of the Methodological Instructions, approved. By Order of the Ministry of Finance dated October 13, 2003 No. 91n; Resolution of the Presidium of the Supreme Arbitration Court of July 5, 2011 No. 2346/11. If you calculate depreciation using the linear method, then you cannot use increasing factors in accounting. But there is no special meaning in the coefficients, because you set the SPI as you need.
Sublease does not affect the validity of lease payments
DI. Knyazev, Moscow
We took the car under a leasing agreement with subsequent purchase. The balance holder is the lessor. We (the lessee) pay for car insurance and its registration with the traffic police. We have now rented this car to a third party.
Can we now attribute to tax expenses leasing payments, insurance payments and depreciation?
: Lease payments and car insurance fees are your reasonable expenses. The fact that you subleased this property does not matter.
But you cannot take depreciation into account as an expense either in tax or accounting. After all, the leased asset is taken into account on the balance sheet of the lessor clause 10 art. 258, sub. 1 item 2 art. 259.3 Tax Code of the Russian Federation.
We determine the accounting value of the purchased leased property
I.E. Shemyakina, Murmansk
The car was purchased under a leasing agreement, it was on our balance sheet. On the date of receipt of ownership, the residual value, according to accounting data, amounted to 200,000 rubles. The leasing agreement fixed the redemption price - 70,000 rubles. (it was not included in the total amount of lease payments and was not taken into account in the initial cost of the car). At what residual value should the car be recorded on the balance sheet after its redemption: 70,000 rubles. or 200,000 rubles?
WE WARN THE MANAGER
Better in a leasing agreement highlight the redemption price as an independent payment, payable at the end of the contract. Then there will be no problems taking into account current leasing payments Letter of the Federal Tax Service dated May 26, 2010 No. ШС-37-3/2514@. If the redemption value is not allocated, inspectors can completely exclude leasing payments from expenses and, accordingly, charge additional income tax, penalties and fines. After all, according to tax authorities, payments regarding the redemption price cannot be written off as current expenses.
: None of the amounts you specify can be the residual value of the leased vehicle purchased. After all, you initially incorrectly determined the initial cost, not including the redemption value. While in accounting the initial cost of the leased asset must be equal to the price of the leasing agreement clause 8 PBU 6/01. Moreover, this cost must include the redemption price of the leased asset, regardless of whether it is highlighted separately in the agreement or not. clause 3 PBU 10/99. Therefore, to determine the correct residual value, it is necessary to recalculate the original cost, as well as all accrued depreciation on the car.
Do not forget also that the residual value of fixed assets affects the amount of property tax. Therefore, you will have to recalculate this tax, pay it along with penalties and submit updated tax returns.
IN AND. Khikerov, Ekaterinburg
We bought it for less than 40,000 rubles. a leased car that was recorded on the lessor’s balance sheet. Is accounting allowed? of this car on the debit of account 10 as part of inventories in accounting and a one-time write-off in tax accounting?
: Yes, in accounting you can record the purchased car in account 10 “Materials” pp. 4, 5 PBU 6/01.
And in tax accounting you can immediately write off the cost of the purchased property as an expense subp. 3 p. 1 art. 254, paragraph 1, art. 256 Tax Code of the Russian Federation; Letter of the Ministry of Finance dated June 10, 2009 No. 03-03-06/1/391.
The leased item will be sold - consider it as a product
M.V. Neschikova, Kostroma
The cars we purchased on lease were recorded on the lessor's balance sheet. The last lease payment that our organization transferred is considered as the redemption value. We plan to sell these cars immediately. Can we: ignore cars in account 01; do not register them with the traffic police; not pay transport tax on them?
: You must accept the cars on your balance sheet, because you must show that you received the assets. However, since you plan to sell these cars immediately, they need to be reflected in account 41 “Goods”. If you do not operate the cars yourself after receiving ownership and immediately sell them, then you do not need to register them with the traffic police. clause 3 of Government Decree No. 938 dated 12.08.94. Therefore, you won’t have to pay transport tax either. Art. 358 Tax Code of the Russian Federation; Letter of the Ministry of Finance dated 08/01/2011 No. 03-05-05-04/18.
E.V. Vedernikova, Tver
Our organization purchased a car on lease (it was on our balance sheet). After 3 years of the leasing agreement, we bought this car ahead of schedule and then decided to sell it. It turned out that the sale price is lower than the residual value of the car according to tax records. Can we recognize a one-time loss from the sale of a car in tax accounting?
: It depends on how you account for the car after you buy it back.
OPTION 1. If you took into account the purchased car in tax accounting as a fixed asset, then the following situation has developed. You purchased an asset and determined its initial cost as the sum of the costs of repurchasing the leased asset. Then you sell this asset (regardless of whether you have depreciated it at least once or not). If the sale price is less than the residual value of the car, then you have a loss. It must be taken into account for tax purposes evenly over the time remaining until the expiration of its useful life. clause 3 art. 268, Art. 323 Tax Code of the Russian Federation.
OPTION 2. If on the redemption date you have already decided that you will sell the purchased car, you immediately receive it as a product. In this case (regardless of the redemption value of the car), you are no longer selling the OS, but the purchased product. And the loss from the sale of such purchased goods can be fully taken into account when calculating income tax. There are no restrictions in the Tax Code: income from the sale of goods is reduced by the costs associated with its acquisition. subp. 3 p. 1 art. 268 Tax Code of the Russian Federation.
Further expenses for repairs of the leased item do not increase its value
I.K. Agafyeva, Sochi
The purchase price of the leased asset is 35,000 rubles; previously it was taken into account on the lessor’s balance sheet. If in the future we (the former lessee) have expenses for repairing the car, purchasing spare parts and tires, will we have to increase the cost of the car or can such expenses be immediately written off (both in tax and accounting)?
: The costs of car repairs, the purchase of spare parts and tires can be immediately taken into account as independent expenses, regardless of whether the car itself is listed as OS or not. There is no need to increase the initial cost by their amount. Moreover, this rule applies both in accounting and tax accounting. pp. 4, 6 PBU 6/01; clause 1 art. 257, Art. 260 Tax Code of the Russian Federation.
Tax accounting of purchased property
Yu.V. Krasikova, Zheleznodorozhny
We purchased the leased asset, the purchase price was 100,000 rubles. without VAT. In tax accounting, its residual value on the date of redemption is 780,000 rubles. What value should be taken to calculate tax depreciation after redemption?
: In tax accounting, this property is taken into account differently in different periods:
- during the period of validity of the leasing agreement - as the subject of leasing. Its initial cost is the sum of the lessor's costs for its acquisition. clause 1 art. 257 Tax Code of the Russian Federation. Expenses for tax accounting purposes include monthly depreciation of the leased asset and the part of the lease payment that exceeds the amount of accrued depreciation. Thus, the residual value of the leased property on the date of its redemption (in your case - 780,000 rubles) does not matter in tax accounting. You can simply forget about it. After all, everything that you paid to the lessor as current payments, you have already recognized as expenses;
- after repurchase of the leased asset - as your own fixed assets or low-value property. Its initial cost is the redemption price plus additional costs associated with the redemption of property clause 1 art. 257 Tax Code of the Russian Federation. Your initial cost is equal to the redemption price (RUB 100,000), therefore, you receive the purchased property as a fixed asset.
L.E. Semenova, Rostov
Our organization entered into a non-purchase lease agreement for equipment. It was listed on the lessor's balance sheet. After the end of the lease agreement, we did not return the leased item, but kept it, having concluded a purchase and sale agreement with the lessor. Equipment price - 250,000 rubles. When transferring the equipment, the lessor executed a transfer and acceptance certificate OS-1, where he indicated the residual value of 900,000 rubles. We capitalized the equipment in both accounting and tax accounting at a negotiated price of 250,000 rubles.
The inspectorate accepted its residual value from the lessor (900,000 rubles) as the initial cost of the equipment and assessed additional property tax to us. Is our inspection correct?
: Your inspection is wrong. After all, to calculate property tax, the value of fixed assets must be taken into account according to your accounting data, and not according to the accounting data of the seller of this fixed asset. And in your accounting, the initial cost is 250,000 rubles.
After the buyout, the leasing coefficient cannot be applied
S.A. Zaitseva, Moscow
The fixed asset was acquired on the basis of a leasing agreement. After its redemption, is it possible to continue to charge depreciation on it with an increasing leasing coefficient?
: No you can not. Despite the fact that you received the fixed asset under a leasing agreement, after redemption this agreement is no longer valid. Consequently, such a fixed asset can no longer be considered as leased property. Therefore, increasing leasing depreciation rates cannot be applied. pp. 1, 2 tbsp. 31 of the Law of October 29, 1998 No. 164-FZ; clause 10 art. 258, sub. 1 item 2 art. 259.3 Tax Code of the Russian Federation.
S.Ya. Likrichi, Zheleznogorsk
We are the lessor, the leasing agreement is concluded for 5 years. In tax accounting, we calculated depreciation on leased property with a coefficient of 3. Only 1 year has passed since the date of the agreement, but the lessee wants to buy out the leased asset ahead of schedule. Will we have to recalculate depreciation (without taking into account factor 3) due to such an early redemption?
: No, you will not have to recalculate previously accrued depreciation. After all, you had the right to apply a special coefficient to the depreciation rate during the term of the leasing agreement. ; Government Decree No. 19 dated January 17, 2002. In the leasing agreement, we indicated that the entire amount of the leasing agreement consists only of the redemption value of the leased asset - 3,000,000 rubles. There is no division of the amount into the redemption price and payments for leasing services. Is this transaction subject to VAT? If yes, in what part?
: Since in your case all payments under the agreement are equal to the purchase price, this is essentially not a leasing agreement, but a purchase and sale agreement. In theory this means you can apply the VAT exemption subp. 1 item 2 art. 149 Tax Code of the Russian Federation. But since you called your agreement a leasing agreement, you may have problems. After all, inspectors believe that there is no exemption from VAT for leasing operations with such medical equipment in the Tax Code Letter from the Federal Tax Service for Moscow dated September 14, 2005 No. 19-11/65367.
Leasing operations are currently becoming increasingly widespread due to the fact that they provide the parties to the contract with many economic benefits, including from the point of view of the taxation regime. The subject of this article is the procedure for reflecting leasing transactions in tax accounting from the point of view of the lessee in the case when the leased property, in accordance with the terms of the agreement, is subject to accounting on the balance sheet of the lessee.
When reflecting leasing transactions in tax accounting, it is necessary to be guided by the provisions of Chapter 25 of the Tax Code of the Russian Federation. At the same time, neither the Instructions approved by Order of the Ministry of Finance of the Russian Federation dated February 17, 1997 N 15, nor the provisions of PBU 6/01 “Accounting for Fixed Assets” apply to the lessee’s tax accounting procedure. So the order accounting This transaction does not affect the recognition of income and expenses for tax accounting purposes.
1. The procedure for forming the initial value of the property that is the subject of leasing when accounting for it on the balance sheet of the lessee
The special procedure for determining the initial cost of the leased asset for profit tax purposes is defined in paragraph 1 of Art. 257 Tax Code of the Russian Federation.
As follows from paragraph 1 of Art. 257 of the Tax Code of the Russian Federation, the initial cost of the property that is the subject of leasing is recognized as the amount of expenses of the lessor for its acquisition, construction, delivery, production and bringing it to the state in which it is suitable for use, with the exception of amounts of taxes subject to deduction or taken into account as part of expenses in in accordance with the Tax Code of the Russian Federation.
This provision applies both when accounting for leased property in accordance with the agreement on the balance sheet of the lessor, and on the balance sheet of the lessee. This means that for the purpose of reflecting leasing transactions in tax accounting, the lessee must have data on the initial cost of the leased asset provided by the lessor. At the same time, the leasing value of the property, defined as the amount of leasing payments under the contract, constituting the initial cost of the leased asset in accounting, is not applicable for tax accounting purposes.
2. The procedure for calculating depreciation on leased property
As follows from the provisions of paragraph 1 of Art. 256 of the Tax Code of the Russian Federation, the main condition for classifying property as depreciable is that this property belongs to the taxpayer on the right of ownership, acquired in the manner prescribed by law. There is an exception to this rule: leased property listed on the balance sheet of the lessee.
In accordance with clause 7 of Article 258 of the Tax Code of the Russian Federation, property received (transferred) for financial lease under a financial lease agreement (leasing agreement) is included in the appropriate depreciation group by the party from whom this property should be accounted for in accordance with the terms of the financial lease agreement (leasing agreements).
In this case, to determine the depreciation group of leasing objects, the Classification of fixed assets included in depreciation groups (approved by Decree of the Government of the Russian Federation of January 1, 2002 N 1) should be used.
Article 259 of the Tax Code of the Russian Federation establishes that special coefficients may be applied to depreciation rates for property that is the subject of leasing. The procedure for applying the coefficients should be established by the accounting tax policy approved by the organization.
In particular, clause 7 of Article 259 of the Tax Code of the Russian Federation establishes that in relation to depreciable fixed assets used for work in conditions of an aggressive environment and (or) increased shifts, the taxpayer has the right to apply a special coefficient to the basic depreciation rate, but not higher than 2. For depreciable fixed assets that are the subject of a financial lease agreement (leasing agreement), the taxpayer, for whom this fixed asset must be taken into account in accordance with the terms of the financial lease agreement (leasing agreement), has the right to apply a special coefficient, but not higher than 3, to the basic depreciation rate. These provisions do not apply to fixed assets belonging to the first, second and third depreciation groups, if depreciation on these fixed assets is calculated using a non-linear method.
For the purposes of Chapter 25 of the Tax Code of the Russian Federation, an aggressive environment is understood as a set of natural and (or) artificial factors, the influence of which causes increased wear (aging) of fixed assets during their operation. Working in an aggressive environment also equates to the presence of fixed assets in contact with an explosive, fire-hazardous, toxic or other aggressive technological environment, which can serve as the cause (source) of initiating an emergency.
The tax authorities explained their position regarding the use of these coefficients in relation to leased items operating in conditions of increased shifts or an aggressive environment, the essence of which is as follows: the taxpayer can apply either the coefficients provided for under the leasing agreement, or increasing coefficients according to the operating conditions of the object; This approach is determined by the requirement of the specified norm for applying coefficients for leasing and operating conditions only to the basic depreciation rate (see clause 5.3 of the Methodological recommendations for the application of Chapter 25 “corporate income tax”).
In accordance with paragraph 9 of Art. 259 of the Tax Code of the Russian Federation for cars and passenger minibuses with an initial cost of more than 300 thousand rubles and 400 thousand rubles, respectively, the basic depreciation rate is applied with a special coefficient of 0.5. Organizations that received (transferred) the specified cars and passenger minibuses on lease include this property in the corresponding depreciation group and apply the basic depreciation rate (taking into account the coefficient applied by the taxpayer for such property) with a special coefficient of 0.5.
In accordance with clause 5.3 of the Methodological Recommendations for the application of Chapter 25 “Organizational Income Tax” for the parties to a vehicle leasing agreement (passenger cars and passenger minibuses with an initial cost of more than 300 thousand rubles and 400 thousand rubles, respectively) , which increases the coefficient in an amount not exceeding 3, is applied simultaneously with the coefficient of 0.5.
Thus, if the parties to a vehicle leasing agreement provide for the use of an increasing factor in an amount not exceeding 3, then the coefficient applied to the basic depreciation rate is calculated as the product of the coefficient used by the parties to the leasing agreement (no more than 3) by 0.5.
Example. A passenger car purchased on lease, the initial cost of which is 330,000 rubles, is taken into account on the balance sheet of the lessee. This fixed asset item belongs to the third depreciation group and has a useful life of 4 years and 6 months (54 months).
The lessee applies linear method depreciation and sets for this fixed asset an increasing factor of 2.5 (based on clause 7 of Article 259 of the Tax Code of the Russian Federation) and a decreasing factor of 0.5 (based on clause 9 of Article 259 of the Tax Code of the Russian Federation).
The coefficient applied to the basic depreciation rate is 2.5 x 0.5 = 1.25.
Monthly depreciation rate – (1: 54 months) x 100% x 1.25 = 2.31%.
The amount of monthly depreciation deductions taken into account when taxing profits is 330,000 rubles. x 2.31%: 100% = 7623 rub.
3. Accounting for leasing payments
The lessee, in addition to depreciation, reflects the amount of lease payments paid as part of other expenses taken into account for tax purposes. At the same time, according to paragraph 10, paragraph 1, Article 264 of the Tax Code of the Russian Federation, if the property received under a leasing agreement is taken into account by the lessee, rental (leasing) payments are recognized as an expense minus the amounts accrued in accordance with Article 259 of the Tax Code of the Russian Federation for this property depreciation.
Thus, if the amount of depreciation on leased property exceeds the amount of the lease payment determined for the corresponding month, lease payments paid to the lessor are not taken into account as expenses for tax purposes. And vice versa, if the amount of the lease payment exceeds the amount of accrued depreciation, the lessee has the right to additionally take this difference into account as part of other expenses of the reporting period.
If, according to the terms of the leasing agreement, payments are made unevenly during the leasing term (for example, one payment per year or every six months), you should pay attention to the procedure for recognizing leasing payments as expenses for tax purposes.
The rules for recognizing expenses in tax accounting are established by Art. 272 of the Tax Code of the Russian Federation. Clause 1 of Art. 272 of the Tax Code of the Russian Federation establishes a general principle for recognizing expenses based on the terms of transactions. In particular, it is provided that for transactions lasting more than one reporting (tax) period, expenses of the reporting period are recognized based on the principle of uniform and proportional formation of expenses.
Within the reporting period, the date of reflection of expenses in tax accounting for leasing payments is determined in accordance with clause 7 of Article 272 of the Tax Code of the Russian Federation:
- or the date of settlement in accordance with the terms of the concluded agreements;
- or the date of presentation to the taxpayer of documents serving as the basis for making calculations;
- or the last day of the reporting (tax) period.
The date of recognition of expenses adopted for tax accounting purposes by the organization, in accordance with paragraph 3 of paragraph 7 of Article 272 of the Tax Code of the Russian Federation, should be approved as an element of the organization’s tax policy.
The accounting policy provision can be formulated as follows: “Under contracts the execution of which is of a continuing nature, in particular under leasing agreements, expenses are recognized evenly and proportionally in each reporting period during which the contract is executed. In this case, the date of recognition of expenses is considered to be the last day of the reporting period.”
Thus, if the parties agree on an uneven schedule for making leasing payments during the leasing period, for the purposes of recognition as expenses, the amount of the monthly leasing payment should be calculated by dividing their total amount by the number of months of leasing.
4. Purchase by the lessee of the leased property under a leasing agreement and its subsequent use
The repurchase of property that is the subject of leasing can be accomplished using one of the following methods of legal registration. In this regard, when an organization buys out property that is the subject of a lease, it is advisable to analyze the indicated options for implementing the buyout operation from the point of view of the tax consequences that arise for specific conditions.
1. The repurchase of property is carried out as part of the leasing transaction.
In accordance with Article 2 of the Federal Law “On Financial Lease (Leasing)” dated October 29, 1998 N164-FZ, leasing is defined as a set of economic and legal relations arising in connection with the implementation of a leasing agreement, including the acquisition of the leased asset.
At the same time, a leasing transaction is a set of agreements necessary for the implementation of a leasing agreement between the lessor, the lessee and the seller (supplier) of the leased asset (paragraph 3 of article 2 of the Law).
Thus, leasing legal relations, as a rule, are formalized by several interrelated agreements:
- purchase and sale agreement concluded by the lessor and the seller;
- a financial lease agreement concluded by the lessor and the lessee;
- agreement for the sale and purchase of the leased asset between the lessor and the lessee.
Accordingly, the repurchase of leased property, formalized by an independent purchase and sale agreement, or carried out within the framework of a leasing agreement, is recognized as an integral part of the leasing transaction being implemented, which provides for the repurchase of the property by the lessee.
The specified legal features of the leasing transaction have a direct impact on the procedure for reflecting the costs of the purchased leased property in tax accounting.
Payments made by the lessee for the redemption of leased property are recognized as expenses not taken into account for profit tax purposes, on the basis of clause 5 of Article 270 of the Tax Code of the Russian Federation. In accordance with clause 5 of Article 270 of the Tax Code of the Russian Federation, when determining the tax base, the following expenses for the acquisition and (or) creation of depreciable property are not taken into account.
In this regard, despite the fact that upon redemption of the leased property it becomes the property of the lessor, it continues to remain the subject of leasing. Accordingly, when determining the initial cost of the leased asset, one should be guided by the provisions of paragraph 1 of Article 257 of the Tax Code of the Russian Federation. In other words, if, as part of a leasing transaction, the property is repurchased by the lessee, the initial cost of the property is determined as the amount of the lessor’s expenses for its acquisition, construction, delivery, production and bringing it to a state in which it is suitable for use, excluding amounts of taxes subject to deduction or taken into account as expenses in accordance with the Tax Code of the Russian Federation.
In case of redemption of the property by the lessee, the ownership of the leased items is transferred to the lessee. Accordingly, the lessee organization does not make lease payments. Thus, only depreciation accrued on the purchased property should be reflected as an expense in tax accounting.
As noted above, the calculation of the amount of depreciation is carried out based on the original cost, defined as the amount of the lessor's expenses for the acquisition of leased property, and the depreciation rate, taking into account the special coefficients established in clauses 7, 8, 9 for leased property. In other words, depreciation is calculated in the same manner that was in effect during the leasing period when the property belonged to the lessor, i.e. before the ransom.
2 . The purchase of property is carried out not as the implementation of a leasing transaction, but with the help of an independent purchase and sale agreement
Note that the repurchase of leased property can also be legally formalized as follows:
- termination of the leasing agreement by mutual agreement of the parties (as a result of which the leased asset must be returned to the owner-lessor);
- concluding an independent contract for the purchase and sale of property with the owner.
In this case, when calculating depreciation, the organization does not have the right to apply the special coefficient established by clauses 7, 8, 9 of Art. 259 of the Tax Code of the Russian Federation for leased assets, since the property is no longer recognized as leasing, leasing legal relations have ceased.
In this case, the useful life of the purchased equipment is determined according to clause 12 of Art. 259 of the Tax Code of the Russian Federation for objects that were in operation, i.e. the depreciation rate for this property is calculated taking into account the useful life reduced by the number of years (months) of operation of this property by the previous owners (before the property was bought out, the owner was the lessor).
3. The procedure for recording transactions for the sale of purchased leased property in tax accounting
In accordance with paragraph 1 of paragraph 1 of Article 268 of the Tax Code of the Russian Federation, when selling depreciable property, the taxpayer has the right to reduce income from such transactions by the residual value of the depreciable property, determined in accordance with paragraph 1 of Article 257 of the Tax Code of the Russian Federation.
Let us recall that the residual value is calculated as the difference between the original cost and the amount of accrued depreciation in accordance with the norms of the Tax Code of the Russian Federation. The initial cost is formed according to the lessor as the sum of costs for the acquisition of the leased asset (clause 1 of Article 257 of the Tax Code of the Russian Federation).
Under a leasing agreement, property can be recorded on the balance sheet of the lessor or lessee. The second option is the most complex and often raises questions among accountants, since accounting and tax accounting data do not coincide and differences arise. In the 1C:Accounting 8 program, edition 3.0, starting with release 3.0.40, basic operations with leased property are automated, which are recorded on the lessee’s balance sheet without taking into account the redemption value.
New accounts in 1C:Accounting 8 (rev. 3.0) to automate leasing accounting
Main regulatory legal acts that should be followed when concluding a leasing agreement are the federal law dated October 29, 1998 No. 164-FZ “On financial lease (leasing)” and part two Civil Code RF - in Chapter 34 “Rent”, paragraph 6 is devoted to leasing.
Under a leasing agreement, the lessee must accept the property purchased for him by the lessor from the seller, pay the lessor lease payments, the procedure and terms of payment of which are determined by the agreement, and at the end of the lease agreement, return this property or buy it back into his own ownership.
The agreement specifies the amount of lease payments, methods and frequency of their transfer to the lessor.
The tax consequences for the parties to the transaction depend on the terms of the agreement and the structure of the lease payment.
IS 1C:ITS
In the reference book “Agreements: conditions, forms, taxes” in the “Legal support” section, read more about what is important for the lessor and lessee to know when concluding a leasing agreement.
When reflecting leasing transactions in accounting, they are guided by the “Instructions for reflecting transactions under a leasing agreement in accounting,” approved. by order of the Ministry of Finance of Russia dated February 17, 1997 No. 15 (hereinafter referred to as Instructions No. 15).
The lessee, if the leasing object is accounted for on its balance sheet, upon receipt of the fixed asset (FPE), must generate transactions (paragraph 2, clause 8 of Instructions No. 15):
Debit 08 “Investments in fixed assets»
Credit 76 “Settlements with various debtors and creditors” subaccount “Rental obligations”
After accepting the leased property, the following entry is made into the OS:
Debit 01 “Fixed assets” subaccount “Leased property”
Loan 08 “Investments in non-current assets”
If the leased property is accounted for on the lessee’s balance sheet, then the accrual of lease payments to the lessor in the lessee’s accounting records is reflected in the following entries (paragraph 2, clause 9 of Instructions No. 15):
When accounting for the leased asset on the lessee's balance sheet, the property is accounted for as depreciable (clause 9 of Instructions No. 15, paragraph 3 of clause 50 of the Methodological Instructions for Accounting of Fixed Assets, approved by order of the Ministry of Finance of Russia dated October 13, 2003 No. 91n).
The amounts of depreciation charges are reflected in the debit of the accounts for recording production (circulation) costs in correspondence with account 02 “Depreciation of fixed assets,” subaccount “Depreciation of leased property.” In this case, it is allowed to use an accelerated depreciation mechanism by a factor not higher than 3 (paragraph 3, clause 9 of Instructions No. 15).
Leasing payments due to the lessor are reflected by the lessee by postings (paragraph 2, clause 9 of Instructions No. 15):
Debit 76 “Settlements with various debtors and creditors” subaccount “Rental obligations”
Credit 76 “Settlements with various debtors and creditors” subaccount “Debt on leasing payments”
At the end of the contract, the leased property must be returned by the lessee or acquired into ownership (Clause 5, Article 15 of Law No. 164-FZ).
In accordance with the Tax Code, the lessee has the right to deduct VAT on the entire amount of lease payments, which is indicated in the invoice (subclause 1, clause 2, article 171, paragraph 2, clause 1, article 172 of the Tax Code of the Russian Federation).
For the purpose of calculating income tax, the leased asset is taken into account as part of depreciable property at its original cost - the amount of the lessor's expenses for the acquisition, construction, delivery, production and bringing it to a state in which it is suitable for use, excluding the amount of taxes subject to deduction or taken into account in composition of expenses (clause 1 of article 257 of the Tax Code of the Russian Federation).
According to paragraph 10 of Article 258 of the Tax Code of the Russian Federation, property leased is included in the appropriate depreciation group (subgroup) by the party for whom this property should be accounted for in accordance with the terms of the leasing agreement.
Leasing payments for the use of leased property recorded on the balance sheet of the lessee are considered other expenses associated with production and (or) sales, less depreciation amounts accrued on this fixed asset (subclause 10, clause 1, article 264 of the Tax Code of the Russian Federation).
If the leased asset is taken into account on the balance sheet of the lessee as a fixed asset, then in respect of it it is necessary to pay corporate property tax (letter of the Ministry of Finance of Russia dated January 20, 2012 No. 03-05-05-01/04, clause 3 of the Information letter of the Presidium of the Supreme Arbitration Court of the Russian Federation dated 11/17/2011 No. 148).
The lessee must pay transport tax if the vehicles that are the subject of leasing are registered in his name (Article 357 of the Tax Code of the Russian Federation).
IS 1C:ITS
For more information about the tax consequences arising for the lessee, read the reference book “Agreements: conditions, forms, taxes” in the “Legal support” section.
Note that the initial cost of the leased asset, depreciation costs and the procedure for including lease payments in expenses are different in accounting and tax accounting, so temporary differences arise. They are accounted for in accordance with PBU 18/02 “Accounting for calculations of corporate income tax”, approved. by order of the Ministry of Finance of Russia dated November 19, 2002 No. 114n.
In the 1C: Accounting 8 program, starting with release 3.0.40, subaccounts have been added to account for transactions with leased property, including when accounting for transactions in foreign currency and in conventional units (cu) (see Table 1) .
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Subaccount in "1C: Accounting 8" (rev. 3.0) starting from version 3.0.40 |
What is it for? |
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76.07.1 “Rental obligations” |
To summarize information on long-term financial obligations under lease agreements in Russian currency |
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76.07.2 “Debt on leasing payments” |
To summarize information about current payments under a leasing agreement in Russian currency |
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76.27.1 “Rental obligations (in foreign currency)” |
To summarize information on long-term financial liabilities under lease agreements in foreign currencies |
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76.27.2 “Debt on leasing payments (in foreign currency)” |
To summarize information about current payments under a leasing agreement in foreign currencies |
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76.37.1 “Rental obligations (in monetary units)” |
To summarize information about long-term financial obligations under lease agreements, payments for which are actually carried out in rubles, but are accounted for in conventional units. Account balances and turnover are simultaneously formed in rubles and in cu. As conventional unit any currency from the directory can be used Currencies programs |
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76.37.2 “Debt on leasing payments (in cu)” |
To summarize information about current payments under a leasing agreement, payments for which are actually carried out in rubles, but are taken into account in conventional units. Account balances and turnover are simultaneously formed in rubles and in cu. Any currency from the directory can be used as a conventional unit Currencies programs |
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01.03 “Leased property” |
To summarize information about the availability and movement of fixed assets of an organization that are leased until their disposal |
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02.03 “Depreciation of leased property” |
To summarize information about depreciation of leased property |
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76.07.9 “VAT on rental obligations” |
The amounts of value added tax due to be paid by the organization related to the acquisition of fixed assets under lease agreements in Russian currency are taken into account. |
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76.37.9 “VAT on rental obligations in (cu)” |
The amounts of value added tax due to be paid by the organization related to the acquisition of fixed assets under lease agreements are taken into account, the calculations for which are actually carried out in rubles, but are accounted for in conventional units. Account balances and turnover are simultaneously formed in rubles and in cu. Any currency from the directory can be used as a conventional unit Currencies programs. |
Let's look at how "1C: Accounting 8" edition 3.0 reflects the main leasing accounting operations if the property is listed on the lessee's balance sheet without taking into account the redemption value.
Receipt of fixed assets for leasing and acceptance of the leased object for accounting by the lessee
The receipt of leased property is reflected in a new program document Entry into leasing(chapter OS and intangible assets group Receipt of fixed assets).
The document indicates the initial cost of leased fixed assets in accounting (AC) and tax accounting (TA).
To put a fixed asset object into operation, a document is created Acceptance of fixed assets for accounting(chapter OS and intangible assets group Receipt of fixed assets) - see Figure 1.
Bookmarks are filled in the document:
- Non-current asset;
- Fixed assets;
- Accounting;
- Tax accounting;
- Depreciation bonus.
To document Acceptance of fixed assets for accounting added new way receipts According to the leasing agreement, which allows you to specify the lessor and the method of reflecting the costs of leasing payments in tax accounting.
When choosing an admission method According to the leasing agreement additionally required fields are displayed:
- Counterparty and Agreement on the Non-current asset tab;
- The method of reflecting expenses in tax accounting on the Tax accounting tab in the Leasing payments group of details.
Since the property is listed on the balance sheet of the lessee, then on the tab Tax accounting in field The procedure for including costs in expenses indicated Depreciation calculation, and the flag is set Calculate depreciation.
In field Special coefficient the increasing or decreasing coefficient is indicated (if it is not equal to 1).
Reflection of the monthly lease payment
Starting from release 3.0.40 in 1C:Accounting 8, leasing payments are calculated using the document Receipt (act, invoice), to which the operation is added Leasing services(Fig. 2).
To accept VAT for deduction, you must register and post the document Invoice received.
A document has been added to the program Change in the reflection of expenses on lease payments of fixed assets. It is intended to change the method of reflecting expenses on lease payments after the leased property has been accepted for accounting (section OS and intangible assets group Depreciation of fixed assets hyperlink OS depreciation parameters).
Depreciation and recognition of lease payments in tax accounting
Since the property is accounted for on the lessee’s balance sheet, its value is repaid through depreciation charges over its useful life.
To perform operations to calculate the amount of depreciation for a month for accounting and tax accounting, recognize leasing payments in tax accounting, as well as to reflect taxable temporary differences (TDT) and recognize deferred tax liability (DTL), it is necessary to use processing Closing the month(chapter Operations group Closing the period hyperlink Closing the month), which contains a list of necessary regulatory operations.
Before processing Closing the month it is necessary to restore the sequence of documents.
To do this, click on the hyperlink Retransfer of documents per month, press the button Perform operation, then button Perform month end closing, after which all scheduled operations will be performed in a list, including:
- Depreciation and depreciation of fixed assets;
- Recognition of leasing payments in NU;
- Calculation of income tax.
In a program when performing a routine operation the difference between the lease payments reflected in the document is determined Receipt (act, invoice), and accrued depreciation in tax accounting. If the monthly lease payment exceeds the amount of accrued depreciation, the difference is reflected in tax accounting expenses. If the accrued depreciation exceeds the amount of the lease payment, then the depreciation amount is reversed by this difference.
Create a printed form Statement of depreciation of fixed assets maybe from the group Reports of the OS and intangible assets section.
In processing Closing the month from the document form Regular operation -> Recognition of leasing payments in NU or from the context menu you can generate a help calculation Recognition of expenses on fixed assets received under lease.
The report is intended to illustrate the reflection of the amounts of leasing payments in the accounting and tax accounting of the lessee.
The topic of the article was suggested by an accountant Maria Vitalievna Malyshkina, Kirov.
IN regulations regulating the accounting of fixed assets, no major changes have been made for a long time. However, they are planned and everyone knows about it - more than 3 years ago, projects of PBUs for accounting for fixed assets, as well as projects of PBUs for accounting for leases, were released. We will not discuss why these documents still have the status of projects. Let's talk about something else: how a lessee, who records the leased asset on his balance sheet, should determine its initial cost. After all, the amount of property tax may depend on this value. clause 1 art. 374 Tax Code of the Russian Federation.
Conservative approach
It is familiar to all accountants: the lessee collects all costs associated with obtaining the leased asset on account 08 “Investments in non-current assets”, subaccount “Purchase of individual fixed assets under a leasing agreement”. Costs include all payments under the leasing agreement for the entire term of its validity (of course, minus input VAT) pp. 7, 8 PBU 6/01; clause 8 of the Directives, approved. By Order of the Ministry of Finance dated February 17, 1997 No. 15; Letter of the Ministry of Finance dated November 11, 2008 No. 03-05-05-01/66.
When the leased asset is ready for operation, its value is written off from the credit of account 08 “Investments in non-current assets” to the debit of account 01 “Fixed assets”, subaccount “Leased property” para. 2 clause 8 of the Directives, approved. By Order of the Ministry of Finance dated February 17, 1997 No. 15.
Thus, most lessees include in the initial cost of the leased asset:
- the total amount of payments under the leasing agreement, including the purchase price;
- additional costs associated with receiving the leased asset and bringing it to a condition suitable for use. For example, the costs of delivering equipment, setting it up and setting it up.
With this approach, current lease payments (if there was no increase in their amount during the term of the contract) are not taken into account as independent expenses. Only accrued depreciation is included in expenses. And current payments made under the leasing agreement go towards repaying accounts payable to the lessor.
After the expiration of the lease agreement and the purchase of property in accounting, it is not necessary to determine the new initial cost of the fixed asset that has become its own, as it should be done in “profitable” tax accounting.
Example. Determining the initial cost of the leased asset from the lessee using a conservative approach
/ condition / The total amount of payments under the leasing agreement is RUB 500,000. excluding VAT, including the redemption price in the amount of 50,000 rubles. The lease agreement is valid for 3 years.
The lessee's expenses for delivery of leased equipment amounted to RUB 20,000. excluding VAT.
The established useful life of the leased asset is 6 years.
/ solution / In accounting, equipment is reflected at its original cost of 520,000 rubles. Its cost is written off as expenses through depreciation, which is accrued starting from the month following the month of acceptance for accounting.
The amount of monthly depreciation is 7222.22 rubles. (RUB 520,000 / 6 years / 12 months).
The amount of monthly leasing payments is 12,500 rubles. excluding VAT ((RUB 500,000 – RUB 50,000) / 3 years / 12 months) are not taken into account as independent expenses in accounting.
Discounting Approach
However, let’s not forget that buyout leasing involves the purchase of the leased asset by the lessee (lessee) with the money he borrowed from the lessor (that is, the lessor). Thus, the lessee must not only compensate the lessor for the cost of the fixed asset itself, but also pay him interest.
You can read about discounting debt in accounting when payments are deferred:The draft PBUs proposed on the Ministry of Finance’s website also make us think that there may be an alternative to the conservative approach described above: for accounting for fixed assets and for accounting for leases. They suggest that the initial cost of a fixed asset in an installment purchase should be determined on the basis of the market value of its acquisition, subject to immediate payment clause 17 of the draft PBU “Accounting for fixed assets” (Attention! PDF format).
In a buyout lease, the present value of the lease payments is determined as the amount that the lessee would pay for a similar fixed asset if he were to purchase it on an immediate payment basis. clause 7 of the draft PBU “Lease Accounting” (Attention! PDF format). When purchasing fixed assets on lease, as a rule, this amount is equal to the purchase price of the leased asset by the lessor (if there are no other expenses). Also, other payments stipulated by the contract must be taken into account in the initial cost. This includes taking into account bank commissions, insurance and other payments and pp. 6-8 of the draft PBU “Lease Accounting” (Attention! PDF format).
Next, the effective interest rate for subsequent calculation of interest expenses. That is, the cost of acquiring a fixed asset is the body of the loan, on which interest is charged. And each lease payment includes repayment of both the interest part and part of the principal debt. As a result, not only depreciation charges are recognized in current expenses, but also accrued interest. pp. 7, 8 of the draft PBU “Lease Accounting” (Attention! PDF format).
As you can see, the procedure established in draft PBUs resembles the rules for tax accounting of expenses under a leasing agreement from the lessee, although there are still differences clause 1 art. 257, sub. 10 p. 1 art. 264 Tax Code of the Russian Federation.
Example. Determining the initial cost of the leased asset from the lessee using an alternative method
/ condition / Let's use the conditions of the previous example and supplement them. The leased asset was purchased by the lessor for RUB 380,000. excluding VAT.
/ solution / The initial cost of the leased asset in accounting is determined in the amount of 400,000 rubles, which includes:
- the cost of its purchase is 380,000 rubles;
- delivery costs - 20,000 rubles.
Costs in the amount of 120,000 rubles. (the difference between the total amount of payments under the leasing agreement is 500,000 rubles and the purchase price of the leased asset is 380,000 rubles) - this is interest expenses. They will be gradually taken into account in accounting during the term of the leasing agreement.
The redemption price does not appear as an independent expense in accounting.
What approach to take?
PBU projects today remain projects. And PBU 6/01 and the Instructions for reflecting transactions under a leasing agreement in accounting remained unchanged and should be applied to the extent that does not contradict later regulatory acts on accounting. This is how a specialist from the Ministry of Finance commented on the current situation.
FROM AUTHENTIC SOURCES
Head of the Accounting and Reporting Methodology Department of the Department for Regulation of Accounting, Financial Reporting and Auditing Activities of the Ministry of Finance of Russia
“The Order of the Ministry of Finance dated February 17, 1997 No. 15 has not been canceled. Therefore, even now in accounting, the initial cost of the leased asset from the lessee should be determined by the amount of all lease payments under the agreement.
But there is a subtle point here: in practice we have the word “ everyone" is interpreted incorrectly - the conclusion is drawn that all lease payments should supposedly be added up in a nominal amount. It is not right. And such an interpretation does not follow from Order No. 15 at all.
When adding up lease payments, you need to take into account not only their nominal amount, but also the timing of their payment. The term is the same integral characteristic of financial and economic life as the amount of money, and an integral condition of the contract. Deadlines are also specified in the contract and must be taken from the contract. And taking into account the timing, the amount of payment accepted for accounting now must be less than the nominal amount payable in the future. The difference is interest expenses not yet accrued.
In practice, in order not to engage in complex mathematical exercises on discounting, it is appropriate to consider the current value of all lease payments equal to the market value of the leased object (adjusted for the amounts already actually paid in advance). In practice, this is precisely the cost of acquisition by the lessor of the object from the supplier. In most cases, it is known to the lessee. This amount must be included in the initial cost of the fixed asset in correspondence with accounts payable for lease payments. Then this amount should be increased in the usual manner by those capital investments that the lessee will make at his own expense, and you will get the cost at which the leased fixed asset should be taken into account.
A accounts payable in its own order will gradually increase by interest and decrease by the amounts actually paid. If the interest rate is initially calculated correctly, then at the end of the lease, after the last payment is made (often the last payment is the surrender price), the accounts payable should be zero.”
If you took a conservative approach, then you should not rush to admit mistakes or recalculate the initial cost and current expenses. The second approach, which involves reflecting the leased asset in accounting at present value, is not clearly stated anywhere. Official letters The Ministry of Finance did not issue any information on this matter.
In addition, the initial cost of the first (conservative) approach is higher. Consequently, the property tax base is larger if the leased item is subject to this tax. Therefore, it is very likely that if you take the progressive path and show a lower initial cost of the leased asset than with the conservative option, you will get into trouble when checking your property tax. If you dare to do this, we recommend that you individually send to the Ministry of Finance a question about the formation of the initial cost of the leased asset, and save the received answer.
In the meantime, the conservative approach is safe from a tax point of view, although it reduces the quality of accounting.
When the projects we mentioned acquire the status of full-fledged PBUs, then lessees will be forced to take into account leasing costs in a new way. And even then, most likely, only for those leased items that will be acquired after the new ones come into force accounting provisions. Then there will be no claims against lessees from tax authorities regarding understatement of the property tax base.
Companies often resort to financial lease of property - in other words, leasing. What it is, what are the features of accounting and tax accounting of leasing for the lessee, what leasing transactions exist, we will describe below. We will also look at the example of postings for leasing property on the balance sheet of the lessee and the lessor.
The essence of leasing
A leasing agreement is concluded between two interested parties. The subject of the contract is buildings, equipment, cars and other types of property. The lessee can become the legal owner of the leased property by purchasing it.
For the subject of leasing, you need to draw up a transfer and acceptance certificate. Depreciation is calculated by the party whose property is recorded on its balance sheet.
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Accounting and tax accounting of leasing from the lessee
In order to correctly reflect the leased item on the accounting accounts, you need to know on whose balance sheet it is listed.
Accounting for leased property on the lessor's balance sheet
If the object is accounted for on the lessor’s balance sheet, the lessee uses accounting account 001. It is from this account that everything begins leasing operations. Using the example of Tekhnik LLC and Spusk LLC, we will analyze all the nuances of accounting. You will find not only postings, but also detailed calculations.
Tekhnik LLC received from Spusk LLC under agreement No. 25 dated January 1, 2019, a lease of the A187 hydroelectric power station worth 1,296,000 rubles, including VAT 216,000 rubles. The total rental period is 36 months. The monthly payment is 36,000 rubles, including VAT (20%) 6,000 rubles. After three years, the equipment is purchased by Tekhnik LLC, the redemption price is already included in the monthly payments.
In the accounting of Tekhnik LLC, the accountant will make the following entries under the leasing agreement:
Debit 001 - 1,296,000 - equipment is put on off-balance sheet accounting
Debit (20, 26, 44 - depending on the purposes for which the leased asset is used) Credit 76 - 30,000 - monthly lease payment accrued (the accountant of Tekhnik LLC will make this entry monthly for three years)
Debit 19 Credit 76 - 6,000 - VAT on the lease payment is reflected (Tekhnik LLC will make this entry once a month)
Debit 76 Credit 51 - 36,000 - the lease payment was transferred to the account of Spusk LLC (Tekhnik LLC will make this posting monthly)
Loan 001 - 1,296,000 - equipment was written off from the register of Tekhnik LLC, since all obligations under agreement No. 25 dated 01/01/2019 were fulfilled
Debit 01 Credit 02 - 1,080,000 (1,296,000 - 216,000) - the cost of the purchased hydroelectric power station A187 is reflected in the fixed assets of Tekhnik LLC
Redemption value of leased property: transactions with the lessee
If Tekhnik LLC bought the equipment for a fee, the following entries would be made in accounting:
Credit 001 - equipment was written off from the register of Tekhnik LLC due to the expiration of contract No. 25 dated 01/01/2019
Debit 60 Credit 51 - redemption price for hydroelectric power station A187 is transferred
Debit 08 Credit 76 - leased equipment (hydroelectric power station A187) was purchased by the Tekhnik company
Debit 19 Credit 76 - VAT included
Debit 01 Credit 08 - the accountant of Tekhnik LLC included hydroelectric power station A187 in fixed assets
Debit 68 Credit 19 - VAT on hydroelectric power station A187 accepted for deduction
Early repurchase of leased property: postings from the lessee
Debit 97 Credit 76 - the amount of remaining lease payments excluding VAT
Debit 19 Credit 76 - VAT allocated
Debit 68 Credit 19 - VAT is accepted for deduction.
Debit 76 Credit 51 - the remaining lease payments are listed
Debit 20 Credit 97 - the accrued amount of payments is written off ahead of schedule (monthly for the remaining term under the agreement)
Accounting for leased property on the lessee's balance sheet: entries
Tekhnik LLC received from Spusk LLC under agreement No. 25 dated January 1, 2019, a lease of the A187 hydroelectric power station worth 1,296,000 rubles, including VAT 216,000 rubles. The total rental period is 36 months. The monthly payment is 36,000 rubles, including VAT of 6,000 rubles. After three years, the equipment is purchased by the lessee for 20,000 rubles.
- "Rental obligations";
- "Debt on leasing payments."
The following entries will be made in the accounting of Tekhnik LLC under the leasing agreement:
Debit 08 Credit 76 (sub-account “Rental obligations”) - 1,096,666.67 (1,296,000 + 20,000) / 1.20) - hydroelectric power station A187 accepted for accounting
Debit 19 Credit 76 (sub-account “Rental obligations”) - 219,333.33 - VAT allocated
Debit 01 Credit 08 - 1,096,666.67 - equipment classified as fixed assets for further accounting
Debit 76 Credit 51 - 36,000 - the lease payment was transferred to the account of Spusk LLC (Tekhnik LLC will make this entry monthly for three years)
Debit 76 (sub-account “Lease obligations”) Credit 76 (sub-account “Debt on leasing payments”) - 30,000 - monthly lease payment accrued (the accountant of Tekhnik LLC will make this entry monthly for three years)
Debit 68 Credit 19 - 6,000 - VAT accepted for deduction (Tekhnik LLC will make this entry monthly)
Debit 20 (26, 44 - depending on the purposes for which the leased asset is used) Credit 02 - 30,462.96 (1,096,666.67 / 36) - depreciation accrued (Tekhnik LLC will make this entry monthly)
Debit 76 (sub-account “Lease obligations”) Credit 76 (sub-account “Debt on leasing payments”) - 20,000 - the debt on the redemption value of the leased property is reflected (the accountant of Tekhnik LLC will make this entry monthly for three years)
Debit 76 Credit 51 - 20,000 - transferred to the account of Spusk LLC, redemption price
Debit 01 Credit 01 - 1,096,666.67 - hydroelectric power station A187 transferred to the category of own funds after three years
Debit 02 Credit 02 - 1,096,666.67 - depreciation reflected
Accounting with the lessor
Let's take a closer look at leasing in transactions with the lessor.
Spusk LLC leased hydroelectric power station A187 to Tekhnik LLC under agreement No. 25 dated January 1, 2019, with an initial cost of 1,296,000 rubles, including VAT of 216,000 rubles. The total rental period is 36 months. The monthly payment is 36,000 rubles, including VAT of 6,000 rubles. After three years, the equipment is purchased by the lessee for 20,000 rubles. The redemption price is included in the monthly payments of Tekhnik LLC.
Hydroelectric power station A187 is on the balance sheet of the lessor, its useful life is 46 months. Depreciation for hydroelectric power station A187 is calculated using the straight-line method. For the month, depreciation is equal to 23,478.26 rubles (1,080,000 / 46).
Debit 08 Credit 60 - 1,080,000 - equipment received at Spusk LLC
Debit 19 Credit 60 - 216,000 - VAT allocated
Debit 03 Credit 08 - 1,080,000 - hydroelectric power station A187 accepted for accounting
Debit 68 Credit 19 - 216,000 - VAT taken for deduction
Debit 03 subaccount “MC provided for temporary use” Credit 03 subaccount “MC in the organization” - 1,080,000 - equipment transferred to Tekhnik LLC
Debit 20 Credit 02 - 23,478.26 - the accountant of Sputnik LLC calculated depreciation (Sputnik LLC will make this entry monthly)
Debit 51 Credit 62 - 36,000 - payment received from Tekhnik LLC
Debit 62 Credit 90 - 36,000 - the accountant of Tekhnik LLC reflected revenue from payments for the use of industrial equipment (Sputnik LLC will make this entry monthly)
Debit 90.03 Credit 68 - 6,000 - VAT charged (Sputnik LLC will make this entry monthly)
Debit 01 Credit 03 subaccount “MC provided for temporary use” - 1,080,000 - the initial cost of the A187 hydroelectric power station was written off when it was transferred to the ownership of Tekhnik LLC
Debit 02 Credit 01 - 845,217.36 (23,478.26 x 36 months) - accrued depreciation on hydroelectric power station A187 is written off
Debit 91.02 Credit 01 - 234,782.64 (1,080,000 - 845,217.36) - the residual value of the A187 hydroelectric power station is written off
Debit 62 Credit 91.01 - 20,000 - income taken into account (redemption value)
Debit 91.02 Credit 68 - 3,333.34 - VAT charged on the redemption price of hydroelectric power station A187
As can be seen from the examples, postings depend on many nuances of the leasing agreement. Accounting is affected by the term of the contract, the procedure for repurchasing the property, and the ownership of the leased asset. Use these examples as a cheat sheet, and your accounting will comply with all legal requirements.