Company, leading its activities with taxation or VAT, should implement separate accounting of VAT.It turns out that the operations for the division of taxes, relating to the deductible or be included in the costs deductible - not an easy task.However, the common cases in which the evidence of separate accounting at the legislative level are simply not available.
Tax Code lists the cases where companies are exempted from paying VAT and have to perform separate accounting of costs.The most common of these are the receipt of interest and dividends on deposits, lending at interest.In addition, without VAT enroll interest on the current account for the use of customer funds by banks.
There are situations where, for example, at the same time the company trades in products that are subject to VAT and the goods that are exempt from this tax.In such a case she needed to carry out separate accounting for VAT.
According to the rules, at discounted goods input VAT included in their cost for the rest of the operations of this tax should be deducted.If the accountant is not reflected, or not noticed preferential tax not included it in the cost of goods, this fact can be interpreted as an offense of tax.
Companies implementing the distribution of VAT indirect costs required to keep the mixed records.To perform the lending company must have the appropriate license and for the issuance of the loan no special permissions are required.Also, loans could be given to all, and these transactions are not subject to VAT.But it is difficult to find a company that deals only with the issue of loans.
It turns out that in such a situation would have to do separate accounting of VAT.To do this, an accountant must first determine which goods, services, work, property rights will be used it is subject to tax.VAT in such assets are carried at their cost.Keeping the accounting for the projects, which have been acquired for operations as the release and taxable, the input VAT shall be distributed: the amount of his deductible and some are expensed.
certain criteria to determine the assets that are used in the exempt and taxable activities, the law does not provide.The Tax Code provides only the requirement to maintain separate accounting of VAT and gives instructions on how to divide.The company independently establishes and consolidates its accounting policy procedure of separate accounting of costs.
Thus the development of this policy should be guided by the tax legislation.
Keeping undivided account
income in the form of interest on deposits and dividends not subject to VAT.However, the reason for this act are not entitlements referred to in Article 149 of the Tax Code, and the absence of the mentioned operations in the article 146 of the same document.It should be noted that many of the controller determines interest rates obtained as a cash income from the provision of services provided by the bank loans.In this case, you can bet.
turns out that the customer pays the money of the credit institution is not based on an agreement on the loan.The client receives interest for the use of funds to a bank account under the contract, regulated by the Civil Code.In addition, interest on the deposit amount charged in accordance with the conditions specified in the contract of bank deposit.Consequently, interest income from bank deposits not covered by the provisions of the Tax Code, so you can not worry about the separate account.
