On April 2, 2012, within the framework of the training program "Accounting and taxation of leasing activities", a round table was held on the topic "Actual problems of accounting of leasing operations for the lessee".
Target round table– discussion of the most complex and controversial issues and development of recommendations for accounting for leasing operations in lessee. The topics of formation of the initial cost and determination of the term were touched upon. beneficial use the subject of leasing, replacement of the lessee, insured events.
During the preparation of the round table, a survey of leasing companies and lessees was conducted on the most pressing issues of accounting for leasing operations for lessees and lessors. The responses and proposals received were presented to the participants for discussion and final decision on the relevant issues.
The participants of the round table were divided into three groups. The groups were moderated by: Elena Emmus (CEO, leasing broker Optimum Finance), Liya Chepurovskaya (Chief Accountant, Baltic Leasing Group of Companies), Tatyana Smirnova (Audit Director, KopolAudit, Chairman of the Arbitration Court at the OLA).
At the end of the discussion, the moderators of the round tables made comments and suggestions on the issues that were submitted for discussion.
On a number of issues, the opinions of the participants of the round tables coincided. However, there were topics on which members of the working groups did not come to an agreement. consensus. One of such topics that requires further discussion and elaboration is, for example, insurance of the leased asset and the reflection of insured events.
We present to your attention the issues that were discussed during the preliminary survey and at round tables, as well as comments, opinions of participants and recommendations based on the results of discussions in working groups.
Topic 1. The initial cost of the subject of leasing.
There are two positions for determining the initial cost of the leased asset when reflected on the lessee's balance sheet: excluding leasing interest and taking into account leasing interest. Also, the formation of the initial cost of the property may be affected by expenses incurred by the Lessee on his own - for example, transportation, loading, unloading, installation and assembly of equipment, etc. In addition, sometimes the LP makes inseparable improvements in relation to the leased property.
Question 1. How should it be formed initial cost of the subject of leasing when accounting for property on the balance sheet of the lessee for the purposes of accounting (BU) and tax accounting (NU)?
According to the unanimous opinion of the participants in the discussion, the initial cost of property in tax accounting should be determined based on the amount of expenses of the lessor for the acquisition of property.
With regard to the formation of the value of the subject of leasing in accounting opinions were divided. During the discussion, two options for the formation of the initial cost of the leased asset in accounting were proposed;
1 option:
The initial cost of the leased asset is determined as the amount of the lease agreement without VAT
Rationale:
Order No. 15 of the Ministry of Finance of the Russian Federation, clause 8 - the cost of the received property is equal to the cost of the costs associated with receiving the property, the costs also include interest. PBU 6/01 p. 8 - the initial cost of a fixed asset includes all the actual costs of the organization for the acquisition, construction, manufacture of a fixed asset, with the exception of VAT.
Option 2.
The initial cost of the property is determined without taking into account interest on leasing.
Rationale.
analogy with bank interest when, when acquiring property at the expense of a loan, the initial cost does not include interest on a loan agreement. The cost of the same type of property acquired from different sources should not differ significantly. If interest is included in the initial cost, there is a difference in the value of the property when reflected on the balance sheet of the lessor and the lessee, i.e. the value of the property depends on the balance holder. Lease interest is a cost that the lessee will incur in the future and which may change significantly during the course of the lease agreement. According to PBU 6/01 clause 8, the value of property should be determined based on actually incurred costs. However, according to some participants in the discussion, in this case, there are risks in calculating property tax.
Question 2. If leasing interest is included in the initial cost of the leased asset, how are changes in the value of the property reflected when the amount of the contract changes (for example, an increase / decrease in interest on leasing)? How, in this case, is the contradiction with PBU 6/01 resolved, according to which the initial cost of fixed assets is not subject to change?
In a relationship tax accounting The participants in the discussion were unanimous: changing the amount of the leasing agreement does not affect the initial value of the property in tax accounting.
On the issue accounting changes in the amount of the leasing agreement, the opinions of the participants were divided.
1 option.
When changing the amount of the lease agreement, the difference with the initial amount of the agreement is reflected as other income/expenses and the entire remaining term of the agreement is equally written off to expenses/profit.
Option 2.
Because clause 14 of PBU 6/01 applies to assets that the organization not only owns and uses, but also disposes of, and the lessee does not dispose of the leased property (for example, cannot sell it), then the initial cost of the property can be changed when the amount of the leasing agreement changes .
The lessee can choose one of the two proposed accounting options, while the corresponding position must be reflected in accounting policy companies.
Question 3. How to take into account the Lessee's expenses incurred in relation to the leased property, aimed at bringing the property to a state suitable for operation for the purposes of accounting and tax accounting?
Accounting.
If the property is recorded on the lessee's balance sheet, the initial cost of the leased asset includes the costs associated with bringing the property to a condition suitable for operation (PBU 6/01, clauses 7 and 8).
If the property is taken into account on the balance sheet of the LD, then the expenses are classified depending on their type:
- the cost of acquiring an asset can be accounted for as a separate item within property, plant and equipment;
- works and services are written off as expenses, classified as expenses incurred for the purpose of generating income.
In the letter of the Ministry of Finance dated February 3, 2012 N 03-03-06 / 1/64, it is proposed to write off these costs during the term of the leasing agreement. The opinion was expressed that it is possible to take into account the costs of the lessee in accounting with appropriate documentation, i.e. if the lessee re-charges the costs to the lessor with documentary evidence of the costs incurred (i.e., gives copies of documents from the direct executor).
Tax accounting.
Because the initial cost of the property is formed by the lessor (clause 1, article 257 of the Tax Code of the Russian Federation), the expenses of the lessee are not included in the initial cost of the property. They can be taken into account for income tax purposes, subject to the criteria of Art. 252 of the Tax Code of the Russian Federation (Letter of the Ministry of Finance dated 01.20.2011 N 03-03-06 / 1/19). Expenses are accounted for as a separate item of property, plant and equipment or deferred and written off over the term of the lease agreement.
Question 4. How to account for inseparable property improvements if they are not reimbursed by the Lessor?
Accounting.
Inseparable improvements are included by the lessee in the composition of their own fixed assets in the amount of actually incurred costs (clause 47 of the Regulations on Accounting and Accounting in Russian Federation, approved by Order of the Ministry of Finance of Russia dated July 29, 1998 N 34n, para. 2 p. 5 of the Accounting Regulation "Accounting for Fixed Assets" PBU 6/01). A separate inventory card is opened for the specified amount or adjustments are made to the inventory card of the upgraded OS object. Depreciation is charged on the specified object on a monthly basis. (clauses 17, 18, paragraphs 2, 5 clause 19, clause 21 PBU 6/01). At the same time, the accelerated depreciation coefficient cannot be applied to the specified item of fixed assets.
Tax accounting.
Inseparable improvements to the subject of leasing are recognized as depreciable property (paragraph 4, clause 1, article 256 of the Tax Code of the Russian Federation), depreciated during the term of the lease agreement according to the norms established by the fixed assets classification.
Topic 2. Useful life of the leased asset in accounting and tax accounting when accounting for property on the balance sheet of the lessee.
Currently, there are differences in determining the useful life of a leased asset in accounting and tax accounting. In accordance with PBU 6/01, the useful life of an item of fixed assets is determined by the organization independently, based on the terms of use of the item, incl. based on the lease term. In accordance with the Tax Code, the useful life is determined in accordance with the classification of fixed assets, it is possible to apply an accelerated depreciation factor of up to 3. In letters from the Ministry of Finance and the tax inspectorate on this issue, it is said that the useful life of an object in both accounting and tax accounting should be determined based on the classification of fixed assets, without taking into account the accelerated depreciation coefficient with the linear depreciation method. The same position is supported by the courts.
Question 1. How to determine the useful life of a leased asset in accounting?When property is returned to the lessor at the end of the lease agreement, the useful life may be determined based on the term of the lease agreement. When the ownership of the property is transferred at the end of the lease agreement to the lessee, the useful life is determined in accordance with the classification of fixed assets (Resolutions of the FAS VVO dated 03.06. ). It is recommended to indicate the procedure for determining the useful life in the accounting policy. If there is no relevant information in the Accounting Policy, the useful life can be determined by the Classifier of fixed assets. The accounting policy may also establish a useful life equal to the term of the lease agreement, but even in this case, disputes with the tax office are possible.
Question 2. Can the Lessee use the accelerated depreciation rate under the straight-line depreciation method for tax accounting purposes?
It can use a coefficient not higher than 3. In this case, the specified coefficient is not applied to property belonging to the first or third depreciation groups (clause 1, clause 2, article 259.3 of the Tax Code of the Russian Federation). The established special coefficient cannot be changed during the entire period of depreciation (Letter of the Ministry of Finance dated 11.02.2011 N 03-03-06 / 1/93).
Topic 3. Agreement for the replacement of a party (change of the lessee)
Question 1. What should be the form of the agreement on the replacement of the lessee?
A leasing agreement is considered a type of lease agreement (Article 625 of the Civil Code of the Russian Federation), the tenant (lessee) has the right to transfer his rights and obligations under the lease (leasing) agreement to another person (transfer) (clause 2 of Article 615, Article 625 of the Civil Code of the Russian Federation). In this case, the lessee, with the consent of the lessor (clause 2, article 615, clause 1, article 389, clauses 1, 2, article 391 of the Civil Code of the Russian Federation), concludes an agreement with a third party on the lease of property. At the same time, the lease must be carried out in compliance with the norms of the legislation on the assignment of the right to claim and the transfer of debt (Chapter 24 "Change of persons in obligation" of the Civil Code of the Russian Federation). At the same time, both cession agreements and tripartite agreements are possible.
Question 2. How is the contract of replacement of the party reflected in the accounting of the old / new lessee if the amount of the transferred obligation is less / greater than / equal to the debt under the lease agreement?
For the old lessee, mutual settlements are reflected in the accounting for items of non-operating income / expenses. The old lessee must pay VAT and income tax on the amount of income. The loss is recognized in tax accounting in accordance with the Tax Code. It remains unclear what to do if residual value property in the accounting of the old lessee is more/less than the amount of monetary obligations transferred to the new lessee. In the agreement on the replacement of the party, it is necessary to describe in detail the relationship between the old and new lessees.
Question 3. In accordance with the terms of the agreement, the Lessee transferred an advance payment, which will be credited in accordance with the lease payment schedule during the term of the lease agreement. As of the date of conclusion of the contract for the replacement of the party, the Lessor has the amount of the outstanding advance payment in its accounting records. How to formalize the relationship between the old and new lessees in relation to the unrecorded advance? How to reflect in accounting the amount of the uncredited advance payment from the old / new Lessee?
In the process of questioning and discussion, three accounting options were proposed:
1 option:
The amount of the uncredited advance is returned by the lessor to the old lessee after the receipt of a similar amount from the new lessee.
Accounting:
The old lessee has a debit of 51 credits of 76
The new lessee has a debit 76 credit 51
The position of lawyers: the lessee has an obligation to transfer the advance payment in accordance with the terms of the contract, which he fulfilled. The fact that invoices are not issued for the entire amount of the advance does not change the amount of monetary obligations of the old and new lessees. At the same time, from an accounting point of view, when replacing a lessee, the lessor will have to issue invoices for lease payments in accordance with the schedule, taking into account the uncredited advance. In this regard, two proposals:
Option 2:
the old and new lessees independently decide between themselves the issue of the uncredited advance, and the lessor continues to issue invoices in accordance with the lease payment schedule. In the accounting of the lessee, the advance is reflected in the framework of the assignment agreement;
3 option:
in the leasing agreement, prescribe the condition that the amount of the uncredited advance is credited to income before the operation to replace the party. The invoice is issued to the old lessee. For a new lessee, the schedule is recalculated for the amount of his real monetary obligations. The accounting of the old lessee will reflect the accrual of the lease payment for the amount of the uncredited advance. The new lessee will not have any additional advance postings.
At the same time, a number of participants noted that the first and second accounting options are possible, the third option is not desirable and is not always acceptable for the parties to the transaction.
Topic 4. Reflection of an insured event
In the event of an insured event at the risk of "complete loss or theft", the insurance indemnity, as a rule, is received by the Lessor. Various situations may arise:
- with the transfer of suitable balances to the insurance company;
- without transferring good balances to the insurance company;
- amounts insurance compensation enough to cover the monetary obligations of the LP;
- the amount of insurance compensation is not enough to cover the monetary obligations of the LP;
- the leased property was accounted for on the balance sheet of the Lessor;
- the leased property was accounted for on the balance sheet of the Lessee.
The lessor directs the insurance compensation received to pay off the balance of the value of the property, the lessee's debt on accrued payments, interest for use, penalties, etc., and transfers the remaining amount (if any) to the lessee.
There is a position of the Ministry of Finance, according to which the insurance compensation received by the lessor must be reflected as non-operating income, and only the residual value of the leased property should be included in expenses.
When receiving insurance compensation from the lessor, the lessee must reflect it in income.
When discussing the issues of insurance of the leased asset, accounting for insured events and receiving insurance compensation, the round table participants came to the unanimous opinion that the optimal scheme for accounting and interaction between the lessor, the lessee and the insurance company is to conclude an insurance contract for the leased asset with the indication of the lessee as the beneficiary in terms of damage risks , and in terms of the risks of theft and complete death - to a leasing company.
Question 1. How should the insurance indemnity received by the lessor be reflected in the above situations?
In leasing and insurance contracts, it is recommended to indicate the lessee as the beneficiary in cases of damage to property (with the possibility of restoration), and in cases of loss and complete destruction (if it is impossible to restore) - the lessor.
Taxation:
VAT- the amount of insurance compensation received upon the occurrence of an insured event is not included in the VAT base, because not related to payments for goods.
income tax– the amount of insurance compensation received by the lessor should be taken into account as part of non-operating income. The amounts of insurance compensation received under insurance contracts are not included in the composition of income that is not taken into account when determining the income tax base under Article 251 of the Tax Code. Therefore, guided by paragraph 3 of Article 250 of the Tax Code, the insurance compensation received must be accounted for as other non-operating income.
Date of income recognition: when using the accrual method in tax accounting, it is recommended to recognize such income on the date the insurance company makes a decision on the payment of insurance compensation (clause 4 clause 4 article 271 of the Tax Code of the Russian Federation). But due to the fact that the information received from insurance companies is too heterogeneous and the amount of insurance compensation may not be indicated, there are problems with the reflection of this information in accounting.
Consumption: according to the latest clarifications of the Ministry of Finance (Letter No. 03-03-06/1/21 dated 01/19/2012), the amounts transferred to the lessee in the form of the difference between the insurance compensation received by the lessor and the amount retained under the leasing agreement can be recognized as an expense. But this issue has not been fully resolved, because. the list of expenses for the tax code is closed, and the expense in the form of payment in favor of the lessee is not named.
An insured event with the transfer of good balances to the insurance company and without transfer.The lessor renounces the remaining property in favor of the insurance company in exchange for receiving insurance compensation for the value of the leased asset in full. At the same time, most leasing companies transfer to the insurance company suitable balances without documentation, issuing only a power of attorney for their sale.
In some cases, the remaining property remains with the lessee, Insurance Company pays the insurance indemnity to the lessor, the lessee compensates for the missing amount.
In both cases, the lessor must first take into account good balances at market value and reflect them as non-operating income (clause 13, article 250 of the Tax Code of the Russian Federation), and then reflect in accounting transactions for the sale of property. From 01.01.2010, when selling property, its value in the amount of previously recorded income can be fully written off as expenses for income tax purposes. However, in practice, far from all leasing companies carry out reflection in the accounting of good balances at market value.
The amount of insurance compensation is enough to cover the financial obligations of the lessee
The source of the refund should be the amount of the undeducted advance, but if there is none and the refund is made from the funds of the received insurance indemnity, then the lessor has an expense that cannot be taken into account for income tax. Therefore, in order to avoid losses, it is advisable to fix in the agreement that the return to the lessee of the specified amount is carried out minus income tax.
This situation is regulated by the terms of the leasing agreement and actually occurs in practice, but very rarely, because. lessees do not agree to reduce the amount of the return by the amount of income tax.
Also, the option of transferring the amount of excessively received insurance compensation as compensation for damage to the lessee was proposed. In this case, the specified amount is not subject to income tax.
The amount of insurance compensation is not enough to cover the financial obligations of the lessee
The lessee must reimburse the lessor for all expenses and losses under the leasing agreement.
Losses not reimbursed by the insurance company (for example, due to the establishment of the policyholder's fault in the insured event) the lessor has the right to recover from the lessee (Article 669 of the Civil Code of the Russian Federation, clause 1 of Article 22 of Law N 164-FZ and Resolution of the Federal Antimonopoly Service of the North-Western District of 03.12. 2007 N A21-7140/2006). The amount of insurance compensation and additional amounts to be received from the lessee in repayment of losses from loss are recognized in accounting as other income, and in tax accounting - as part of non-operating income in the form of compensation for losses (clause 3 of article 250 of the Tax Code of the Russian Federation)
In the event of theft (hijacking) of the leased asset, losses can be recognized as expenses only if there is documentary evidence of the absence of the perpetrators. According to the explanations of the Ministry of Finance (letters No. 03-03-04/1/412 of 05/02/06, No. 03-03-06/1/365 of 06/20/2011, No. 03-03-06/4/81 of 08/27/2010) Such a document may be a copy of the decision to suspend the criminal case in connection with the failure to identify the person to be charged as an accused. In this case, these losses are taken into account as expenses of the reporting (tax) period in which the decision to suspend was issued.
Leased property was accounted for on the balance sheet of the lessor
In case of loss of the subject of leasing, the inventory commission records the fact of shortage, on the basis of which the property is written off from the balance sheet. For the purposes of tax accounting, losses from theft, natural disasters, fires, accidents and other emergencies can be taken into account as part of non-operating expenses (subclauses 5 and 6, clause 2, article 265 of the Tax Code of the Russian Federation). The presence of a loss must be in without fail confirmed by documents of the relevant authorities and inventory acts.
Disposal of the object of leasing in connection with the occurrence of an insured event is reflected with the lessor in the debit of account 91 (in the amount of the residual value of the object of leasing). The amount of insurance compensation received is reflected in the debit of account 51 "Settlement accounts" and the credit of account 91.
Leased property was accounted for on the balance sheet of the lessee
In case of loss of the subject of leasing, it is written off from the balance of the lessee with the reflection of the results of disposal on account 94 “Shortages and losses from damage to valuables”. The amount of the shortfall must be charged to the debit of sub-account 2 "Calculations on claims" of account 76. In addition, the lessee must compensate for the difference between the amount of outstanding lease payments and the shortage identified, recorded on the sub-account "Calculations on claims" to account 76 in accordance with the schedule for compensation for damage . The lessor writes off the object of leasing from off-balance sheet accounting.
Restoration of VAT amounts previously accepted for deduction on lost property based on its residual value: clause 3 of Art. 170 of the Tax Code of the Russian Federation contains a closed list of cases when VAT is subject to recovery, and the loss of property is not named in it. That is, formally, the leasing company has no obligation to restore VAT, which is confirmed by numerous arbitration practice and the practice of leasing companies. However, the Ministry of Finance of Russia takes the opposite position on this matter, pointing to the need to restore VAT and arguing that the property is no longer used for taxable transactions (letter No. 03-07-11/22 dated 29.01.2009).
Question 2. How should the received insurance indemnity be reflected in the lessee?
The amount of insurance compensation received is accounted for by the lessee as part of non-operating income.
The lessee takes into account the costs of repairing the leased asset when calculating income tax as part of expenses (clause 2 of article 260TC). The corresponding costs must be economically justified, documented, and under the terms of the leasing agreement, the obligation to restore (repair) the leased asset was assigned to the lessee.
In the event of the loss of the leased asset as a result of an insured event, the lessee writes off its value from the accounting records.
The residual value of the leased asset is included in the debit of account 91 in correspondence with the credit of account 01 "Fixed assets";
The amount of insurance compensation received by the organization from the insurance company is reflected in the debit of account 51 "Settlement accounts" and the credit of account 91.
The tax accounting of the lessee must also reflect non-operating income in the amount of insurance compensation.
In the case when the lessee receives from the lessor the amount of insurance compensation remaining after the closing of all monetary obligations under the leasing agreement, then this, theoretically, is his income, which should fall into the income tax base. At the same time, this amount is already subject to income tax, since all insurance compensation received is the income of the lessor. But double taxation of the same Money not logical. As a solution to the problem of double taxation, the participants in the discussion proposed the option of reflecting the amounts received from the lessee as compensation for damage.
Question 3. If the property is reflected on the balance sheet of the lessee, the cost of the leased asset in accounting can be formed taking into account interest on leasing for the entire period of the contract. How, in this case, is the fixed asset written off and how is this linked to the receipt of insurance compensation?
According to paragraph 14 of PBU 6/01, the value of fixed assets is not subject to change. If the destruction of the fixed asset has occurred, its residual value is fully written off as expenses on the basis of the write-off certificate in the form of OS-4, OS-4a and a mark in the fixed asset accounting card (OS-6). However, when reflecting the value of the leased asset, taking into account interest, the issue of writing off the residual value remains open and the participants in the discussion did not come to a consensus and develop specific recommendations.
Question 4. When reflecting the subject of leasing on the balance sheet of the lessor, part of the advance may not be credited. How is the lessee's accounts receivable under the leasing agreement and the uncredited advance payment written off upon receipt of insurance compensation?
The procedure for offsetting the advance depends on the terms of the lease agreement. Two options may apply.
1 option /p>
The advance payment is credited against the existing accounts receivable
Option 2
After full settlement with the lessee for monetary obligations under the leasing agreement and the appearance of the lessor's obligation to return part of the insurance compensation to the lessee, the undeducted advance can be used as a source of payment. In this case, the lessee will not be required to charge income tax on the amount received
Question 5. How does the lessee reflect the sale of good balances?
In the process of discussing this issue, the participants noted that suitable residues are not the property of the lessee, therefore, in order to sell them, they must first be purchased. The question was also discussed whether the suitable balances are the subject of leasing, or is it a separate object of accounting.
Within the framework of the round table, it was not possible to develop a unified position and specific recommendations, and it was noted that this issue requires further discussion and elaboration.
Additional questions.
Question 1. Can the Lessee attribute to expenses payments in terms of reimbursement to the Lessor of expenses for property insurance, taxes (transport and property)? If LD imposes VAT on these payments, can it be presented on the basis of invoices?
During the discussion, the participants noted that in order to include insurance reimbursement amounts, taxes, etc. in the composition of expenses, it is necessary that these amounts be designated as lease payments. At the same time, the amounts of reimbursement of expenses are part of the price of the contract, and therefore are included in the base subject to VAT.
Sometimes in the practice of leasing companies there are schemes when the lessee reimburses the lessor for the costs of insuring the leased asset on the basis of an agency agreement.
Question 2. How can the lessee take into account the amount of traffic police fines issued by the Lessor to the Lessee for leasing cars, in cases where:
- The lessor has set fines in full;
- The lessor has set fines plus an additional payment.
Expenses in the form of a fine are not taken into account when taxing the profits of organizations (Letter of the Ministry of Finance of Russia dated March 12, 2010 N 03-03-06 / 1/127).
Debit 99 Credit 76 - fined
Debit 76 Credit 51 - payment made
The amount of the additional payment, the lessee reflects as expenses for ordinary activities on the relevant expense accounts.
Often, companies resort to financial lease of property - in other words, to leasing. What is it, what are the features of accounting and tax accounting for leasing by the lessee, what are the leasing transactions, we will describe below. We will also analyze, using the example of property leasing transactions on the balance sheet of the lessee and the lessor.
Essence of leasing
A lease agreement is concluded between the two interested parties. The subject of the contract is buildings, equipment, vehicles and other types of property. The lessee can become the legal owner of the leased property by redeeming it.
On the subject of leasing, you need to draw up an act of acceptance and transfer. Depreciation is charged by the party whose property is recorded on the balance sheet.
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Accounting and tax accounting of leasing from the lessee
In order to correctly reflect the subject of leasing on the accounting accounts, you need to know on whose balance sheet it is listed.
Accounting for leased property on the balance sheet of the lessor
If the object is recorded on the lessor's balance sheet, the lessee uses accounting account 001. It is from this account that all leasing operations begin. Using the example of Technik LLC and Spusk LLC, we will analyze all the nuances of accounting. You will find not only wiring, but also detailed calculations.
Technik LLC received from Spusk LLC under contract No. 25 dated 01/01/2019 on lease the A187 hydroelectric power station worth 1,296,000 rubles, including VAT 216,000 rubles. The total lease term is 36 months. The monthly payment is 36,000 rubles, including VAT (20%) 6,000 rubles. Three years later, the equipment is redeemed by Tekhnik LLC, the redemption value 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 - the equipment was put on off-balance sheet
Debit (20, 26, 44 - depending on the purposes for which the subject of leasing is used) Credit 76 - 30,000 - a monthly lease payment has been accrued (the accountant of Tekhnik LLC will make this entry monthly for three years)
Debit 19 Credit 76 - 6,000 - VAT is reflected on the lease payment (Technik LLC will make this posting once a month)
Debit 76 Credit 51 - 36,000 - the leasing payment was transferred to the account of Spusk LLC (Technik LLC will make this posting monthly)
Credit 001 - 1,296,000 - the equipment was written off from the accounting of Tekhnik LLC, since all obligations under contract 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 A187 hydroelectric power plant is reflected in the fixed assets of Tekhnik LLC
Redemption value of leased property: transactions with the lessee
If Technik LLC bought the equipment for a separate fee, the following entries would be made in the accounting:
Credit 001 - the equipment was written off from the account of Tekhnik LLC due to the expiration of the contract No. 25 dated 01/01/2019
Debit 60 Credit 51 - the redemption value for the hydroelectric power station A187 was transferred
Debit 08 Credit 76 - leasing equipment (A187 hydroelectric power plant) was purchased by the Technik company
Debit 19 Credit 76 - VAT included
Debit 01 Credit 08 - the accountant of Tekhnik LLC included the A187 hydroelectric power plant in fixed assets
Debit 68 Credit 19 - VAT on hydroelectric power station A187 is deductible
Early redemption of leasing property: transactions with the lessee
Debit 97 Credit 76 - the amount of the remaining lease payments without VAT
Debit 19 Credit 76 - VAT allocated
Debit 68 Credit 19 - VAT deductible.
Debit 76 Credit 51 - the remaining lease payments are listed
Debit 20 Credit 97 - the accrued amount of payments was written off ahead of schedule (monthly for the remaining term under the agreement)
Accounting for leased property on the balance sheet of the lessee: postings
Technik LLC received from Spusk LLC under contract No. 25 dated 01/01/2019 on lease the A187 hydroelectric power station worth 1,296,000 rubles, including VAT 216,000 rubles. The total lease term is 36 months. The monthly payment is 36,000 rubles, including VAT 6,000 rubles. Three years later, the equipment is redeemed by the lessee for 20,000 rubles.
- "Lease obligations";
- "Debt on lease payments".
The following entries under the leasing agreement will be made in the accounting of Tekhnik LLC:
Debit 08 Credit 76 (sub-account "Lease obligations") - 1,096,666.67 (1,296,000 + 20,000) / 1.20) - hydroelectric power station A187 was taken into account
Debit 19 Credit 76 (sub-account "Lease obligations") - 219,333.33 - allocated VAT
Debit 01 Credit 08 - 1,096,666.67 - equipment is classified as fixed assets for further accounting
Debit 76 Credit 51 - 36,000 - the leasing payment was transferred to the account of Spusk LLC (Technik LLC will make this posting monthly for three years)
Debit 76 (sub-account "Lease obligations") Credit 76 (sub-account "Debt on lease payments") - 30,000 - a monthly lease payment has been accrued (the accountant of Technik LLC will make this entry monthly for three years)
Debit 68 Credit 19 - 6,000 - VAT deductible (this entry will be made by Tekhnik LLC on a monthly basis)
Debit 20 (26, 44 - depending on the purposes for which the subject of leasing is used) Credit 02 - 30,462.96 (1,096,666.67 / 36) - depreciation has been charged (Technik LLC will make this entry monthly)
Debit 76 (sub-account "Lease obligations") Credit 76 (sub-account "Debt on lease payments") - 20,000 - reflects the debt at the redemption value of the leased property (the accountant of Tekhnik LLC will make this entry monthly for three years)
Debit 76 Credit 51 - 20,000 - the redemption value was transferred to the account of Spusk LLC
Debit 01 Credit 01 - 1,096,666.67 - hydroelectric power station A187 was transferred to the category of own funds after three years
Debit 02 Credit 02 - 1,096,666.67 - reflected depreciation
Lessor's account
Let's take a closer look at leasing in transactions with the lessor.
Spusk LLC leased the A187 hydroelectric power plant to LLC Technik dated 01/01/2019 under contract No. 25 dated January 1, 2019, with an initial cost of 1,296,000 rubles, including VAT of 216,000 rubles. The total lease term is 36 months. The monthly payment is 36,000 rubles, including VAT 6,000 rubles. Three years later, the equipment is redeemed by the lessee for 20,000 rubles. The redemption value is included in the monthly payments of Tekhnik LLC.
Hydroelectric power station A187 is on the balance sheet of the lessor, the useful life is 46 months. Depreciation for hydroelectric power plant A187 is charged on a straight-line basis. For a month, depreciation is 23,478.26 rubles (1,080,000 / 46).
Debit 08 Credit 60 - 1,080,000 - equipment was received by Spusk LLC
Debit 19 Credit 60 - 216,000 - allocated VAT
Debit 03 Credit 08 - 1,080,000 - A187 hydroelectric power plant accepted for accounting
Debit 68 Credit 19 - 216,000 - VAT deductible
Debit 03 sub-account "MCs provided for temporary use" Credit 03 sub-account "MCs in the organization" - 1,080,000 - the equipment was transferred to Technik LLC
Debit 20 Credit 02 - 23,478.26 - the accountant of Sputnik LLC calculated depreciation (Sputnik LLC will make this posting monthly)
Debit 51 Credit 62 - 36,000 - payment received from Technik LLC
Debit 62 Credit 90 - 36,000 - the accountant of Tekhnik LLC reflected the proceeds from the payment for use industrial equipment(this posting will be done by Sputnik LLC on a monthly basis)
Debit 90.03 Credit 68 - 6,000 - VAT charged (this posting will be done by Sputnik LLC on a monthly basis)
Debit 01 Credit 03 sub-account "MCs 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 for hydroelectric power station A187 was written off
Debit 91.02 Credit 01 - 234,782.64 (1,080,000 - 845,217.36) - written off the residual value of the A187 hydroelectric power plant
Debit 62 Credit 91.01 - 20,000 - income (redemption value) is taken into account
Debit 91.02 Credit 68 - 3,333.34 - VAT charged on the purchase price of the A187 hydroelectric power plant
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 the redemption of property, the ownership of the leased asset. Use these examples as a cheat sheet, and your accounting will comply with all the canons of the law.
income tax
The leased asset accounted for on the balance sheet of the lessee (subleasing recipient) is recognized by him as depreciable property, the initial cost of which is determined as the amount of the lessor's expenses for the acquisition of this leased asset (clause 10, article 258, paragraph 3, clause 1, article 257 of the Tax Code of the Russian Federation). This price must be specified in the lease agreement. If you yourself paid for the delivery of the property, then do not include these costs in its initial cost. They must be taken into account in other expenses - evenly, during the term of the leasing agreement (Letter of the Ministry of Finance dated 03.02.2012 N 03-03-06 / 1/64);
VAT on invoices of the lessor, you can fully deduct in the periods when they are received. This applies to invoices (clause 2, article 171, clause 1, article 172 of the Tax Code of the Russian Federation, Letter of the Ministry of Finance dated 07.07.2006 N 03-04-15 / 131):
- for all payments under the leasing agreement, including payments that include the redemption value;
- on the redemption value of the property, which is paid under a separate contract of sale.
You can also deduct VAT from the advance payment. However, this VAT will have to be restored in the period when the advance payment is credited against periodic payments (clause 3, clause 3, article 170, clause 12, article 171, clause 9, article 172 of the Tax Code of the Russian Federation).
In accounting property received under a leasing agreement, you take into account as an asset. Its initial cost is equal to the sum of all payments under the leasing agreement (for OSN - without VAT, for USN - with VAT), incl. redemption value. The useful life is equal to the term of the contract (clause 20 PBU 6/01, clause 8 of the Instructions on the reflection in accounting of operations under a leasing agreement, Letter of the Ministry of Finance of December 25, 2015 N 07-01-06 / 76484).
If you accrue depreciation on leased property using the straight-line method, then multiplying factors cannot be applied. This can only be done using the reducing balance method (clause 19 PBU 6/01, Letter of the Ministry of Finance dated 08.22.2006 N 07-05-06/220).
If at the end of the term of the lease agreement you redeem the property under a separate sale and purchase agreement, then account for this operation as the acquisition of a new fixed asset or inventory, depending on the amount of the redemption value.
To account for transactions under a leasing agreement, open sub-accounts to accounts 76 “Settlements with various debtors and creditors”, 01 “Fixed assets”, 02 “Depreciation of fixed assets” to account for:
- advance payment, for example 76-leasing / advance payment;
- the total amount of debt under the agreement, for example, 76-leasing / lease obligations;
- current payments, eg 76-leasing/current payments;
- redemption value paid on the basis of a separate agreement, for example, 76-leasing / redemption value;
- leasing property, for example 01-leasing;
- depreciation on leased property, for example, 02-leasing.
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D 76-leasing / advance payment - K 51 |
Advance payment posted |
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D 19 - K 76-leasing / advance payment |
Reflected VAT from advance payment |
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Accepted for VAT deduction from advance payment |
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D 01-leasing - K 08 |
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Leasing payment accrued |
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Leasing payment paid |
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D 76-leasing / advance payment - K 68 |
Recovered VAT from advance payment |
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D 20 (26, 44) - K 02-leasing |
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D 02-leasing - K 01-leasing |
At the end of the contract, the cost of the fully depreciated leased property is written off |
Example. Accounting for leased property by the lessee on the OSN on his balance sheet (the redemption value is paid under a separate agreement, accelerated depreciation is applied in tax accounting)
Alfa LLC (lessee) in May 2016 enters into a leasing agreement under which the lessor purchases a dump truck for him for 3,717,000 rubles. (including VAT - 567,000 rubles, cost without VAT - 3,150,000 rubles). In the same month, Alfa LLC transfers to the lessor an advance payment in the amount of 743,400 rubles. (including VAT - 113,400 rubles, payment without VAT - 630,000 rubles) and receives a car.
The total amount of all payments under the leasing agreement is 4,646,250 rubles. (including VAT - 708,750 rubles, payments without VAT - 3,937,500 rubles). The advance payment is fully credited against the payment accrued in June 2016. The procedure for accruing and paying lease payments (excluding the advance payment) is established by schedules - annexes to the leasing agreement.
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Leasing payment schedule |
Leasing payment schedule |
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Amount, rub. |
Amount, rub. |
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The redemption value of the property is paid on May 15, 2019 on the basis of a separate sale and purchase agreement and amounts to 1,180 rubles. (including VAT - 180 rubles, cost without VAT - 1,000 rubles). The dump truck belongs to the fourth depreciation group and, according to the terms of the contract, is accounted for on the balance sheet of the lessee. Alpha LLC in accounting and tax accounting accrues depreciation on a straight-line basis.
Alpha LLC does not accept VAT deductible on the advance invoice of the lessor, since this VAT will have to be recovered in the same quarter. VAT on lease payments is deductible:
- in June 2016 - in the amount of 129,937.5 rubles. (851,812.5 rubles - 721,875 rubles);
- from July 2016 to May 2019 - in the amount of 16,537.5 rubles. (108,412.5 rubles - 91,875 rubles).
In addition, in May 2019, VAT is deductible on the redemption value of the dump truck in the amount of 180 rubles.
tax accounting
Alfa LLC sets the useful life of the dump truck at 72 months and decides to accrue depreciation with a multiplier of 2.
On a monthly basis from June 2016 to May 2019, depreciation in the amount of 87,500 (RUB 3,150,000 / 72 months x 2) is recognized as an expense. The total amount of depreciation accrued for the entire term of the leasing agreement will be 3,150,000 rubles. (87,500 rubles x 36 months), i.e. property will be fully depreciated.
Lease payments are recognized as an expense in the amount of:
- in June 2016 - 634,375 rubles. (721,875 rubles - 87,500 rubles);
- monthly from July 2016 to May 2019 - 4,375 rubles. (91,875 rubles - 87,500 rubles).
Thus, the total amount of expenses under the leasing agreement will be 3,937,500 rubles. (3,150,000 rubles + 634,375 rubles + 4,375 rubles x 35 months), which corresponds to the total amount of payments under the contract.
The redemption value is taken into account in material costs in May 2019 in the amount of 1,000 rubles.
Accounting
The amount of monthly depreciation for leased property will be 109,375 rubles in accounting. (3,937,500 rubles / 36 months). Operations under a leasing agreement are reflected as follows (postings related to the application of PBU 18/02 are not shown):
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Wiring |
Operation |
Amount, rub. |
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May 2016 |
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D 76-leasing / advance payment - K 51 |
Advance payment posted |
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D 08 - K 76-leasing / lease obligations |
Received property from the lessor |
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D 19 - K 76-leasing / lease obligations |
Reflected the total amount of VAT under the contract |
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D 01-leasing - K 08 |
Leased property included in fixed assets |
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June 2016 |
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D 76-leasing / current payments - K 51 |
Leasing payment paid |
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D 76-leasing / lease obligations - K 76-leasing / current payments |
Leasing payment accrued |
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D 76-leasing / current payments - K 76-leasing / advance payment |
Advance payment offset against lease payment |
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Accepted for VAT deduction on leasing payment |
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D 20 - K 02-leasing |
Depreciation accrued on leased property |
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Monthly from July 2016 to April 2019 |
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D 76-leasing / current payments - K 51 |
Leasing payment paid |
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D 76-leasing / lease obligations - K 76-leasing / current payments |
Leasing payment accrued |
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Accepted for VAT deduction on leasing payment |
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D 20 - K 02-leasing |
Depreciation accrued on leased property |
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May 2019 |
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D 76-leasing / current payments - K 51 |
Leasing payment paid |
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D 76-leasing / lease obligations - K 76-leasing / current payments |
Leasing payment accrued |
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Accepted for VAT deduction on leasing payment |
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D 20 - K 02-leasing |
Depreciation accrued on leased property |
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D 02-leasing - K 01-leasing |
The cost of fully depreciated leased property has been written off |
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D 76-leasing / redemption value - K 51 |
Purchase price paid |
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D 10 - K 76-leasing / redemption value |
The property is accepted for accounting at the redemption value |
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D 19 - K 76-leasing / redemption value |
Reflected VAT on the purchase price |
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VAT on the purchase price is deductible |
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The purchase price has been expensed |
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The topic of the article was proposed by an accountant Maria Vitalievna Malyshkina, Kirov.
Major changes have not been made to the regulations governing the accounting of fixed assets for a long time. However, they are planned and everyone knows about it - more than 3 years ago, the PBU projects for accounting for fixed assets, as well as the PBU projects for rent accounting, saw the light. We will not discuss why these documents still have the status of projects. Let's talk about something else: how the lessee, who takes into account the subject of leasing on his balance sheet, should determine its initial cost. After all, the amount of property tax on property may depend on this value. paragraph 1 of 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”, sub-account “Acquisition of certain fixed assets under a leasing agreement”. The cost includes all payments under the leasing agreement for the entire period of its validity (of course, minus input VAT) pp. 7, 8 PBU 6/01; clause 8 of the Directives, approved. Order of the Ministry of Finance dated February 17, 1997 No. 15; Letter of the Ministry of Finance of November 11, 2008 No. 03-05-05-01/66.
Upon the readiness of the leased asset for operation, its value is debited from the credit of account 08 “Investments in non-current assets” to the debit of account 01 “Fixed assets”, subaccount “Leased property” par. 2 p. 8 Directives, approved. 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 redemption price;
- additional expenses associated with obtaining the leased asset and bringing it to a state suitable for operation. For example, the cost of delivery of equipment, its setup and adjustment.
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 the paid current payments under the leasing agreement go to pay off accounts payable to the lessor.
After the expiration of the leasing agreement and the redemption of property in accounting, it is not required 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. Determination of the initial cost of the leased asset from the lessee with a conservative approach
/ condition / The total amount of payments under the leasing agreement is 500,000 rubles. excluding VAT, including the redemption value in the amount of 50,000 rubles. The term of the lease agreement is 3 years.
The lessee's expenses for the delivery of leasing equipment amounted to 20,000 rubles. excluding VAT.
The established useful life of the leased asset is 6 years.
/ solution / In accounting, the equipment is reflected at the initial cost of 520,000 rubles. Its cost is written off to expenses through depreciation, which is accrued starting from the month following the month of acceptance for accounting.
The amount of monthly depreciation - 7222.22 rubles. (520,000 rubles / 6 years / 12 months).
The amount of monthly lease payments is 12,500 rubles. excluding VAT ((500,000 rubles - 50,000 rubles) / 3 years / 12 months) are not taken into account as independent expenses in accounting.
Discounted Approach
However, let's not forget that a buyout lease involves the acquisition of the leased asset by the tenant (lessee) with the money that 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 in debt accounting with deferred payments:The PBU drafts proposed on the website of the Ministry of Finance also make us think about what could 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 when purchased in installments 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 defined as the amount that the lessee would pay for a similar property, plant and equipment if he were to purchase it on an immediate payment basis. Clause 7 of the draft PBU "Lease Accounting" (Attention! PDF-format). When buying 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 banking fees, insurance and other payments and pp. 6- 8 of the draft PBU "Lease Accounting" (Attention! PDF-format).
Next, the effective interest rate for the subsequent accrual of interest expense is determined. 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 the repayment of both the interest and part of the principal debt. As a result, not only depreciation deductions 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 enshrined in the PBU drafts resembles the rules for tax accounting for expenses under a leasing agreement with the lessee, although there are still differences. paragraph 1 of Art. 257, sub. 10 p. 1 art. 264 Tax Code of the Russian Federation.
Example. Determination of the initial cost of the leased asset from the lessee by an alternative method
/ condition / Let's use the conditions of the previous example, supplementing them. The subject of leasing was purchased by the lessor for 380,000 rubles. 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 of 500,000 rubles and the purchase price of the leased asset of 380,000 rubles) is interest expenses. They will be gradually taken into account in accounting during the term of the leasing agreement.
The redemption value does not appear as an independent expense in accounting.
What approach to apply
PBU projects today remain projects. A PBU 6/01 and Instructions on the reflection in accounting of transactions under a leasing agreement remained unchanged and should be applied to the extent that does not contradict later regulations by bookkeeping. Here is how the specialist of the Ministry of Finance commented on the current situation.
FROM AUTHENTIC SOURCES
Head of the Accounting and Reporting Methodology Section of the Accounting, Financial Reporting and Auditing Regulation Department of the Ministry of Finance of Russia
“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 sum of all lease payments under the contract.
But there is a subtle point here: in practice, we have the word " all" is interpreted incorrectly - it is concluded 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 lease payments, it is necessary 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 well as the amount of money, and an integral condition of the contract. Terms are also prescribed in the contract and should be taken from the contract. And taking into account the timing, the amount of payment accepted for accounting now should be less than the nominal amount payable in the future. The difference is the interest expense 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 amounts already paid in advance). In practice, this is just the cost of acquiring the object from the supplier by the lessor. In most cases, it is known to the lessee. This amount should 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.
And the accounts payable in their 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 paying the last payment (often the last payment is the surrender value), the accounts payable should be equal to zero.
If you took a conservative approach, then you should not rush to admit mistakes, recalculate the initial cost and current expenses. The second approach, which involves the reflection of the subject of leasing in accounting at present value, is not clearly stated anywhere. The Ministry of Finance did not issue official letters on this account.
In addition, the initial cost of the first (conservative) approach is higher. Consequently, the base for property tax is larger - if the subject of leasing is subject to this tax. Therefore, it is highly likely that by going the progressive route and showing a lower initial value of the leased asset than the conservative option, you will get into trouble with the property tax check. 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, a 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 PBU, then the lessees will be forced to take into account the costs of leasing in a new way. And even then, for sure, only for those leased items that will be purchased after the entry into force of the new accounting regulations. Then there will be no claims to lessees from the tax authorities regarding the underestimation of the property tax base.
According to the law on leasing, property can be accounted for both on the balance sheet of the lessee and the lessor. At the same time, the very fact that the property is on a particular balance sheet does not fundamentally affect the formation of the financial result of the transaction or the financial attractiveness of leasing as a tool for tax optimization. Accounting on the balance sheet of the lessee is associated with the need for the lessee to pay property tax. However, when the property is on the balance sheet of the leasing company, the property tax is still paid by the client, only it is reimbursed as part of the lease payments by the client. Since 2013, the tax has been abolished for most groups of movable property. Therefore, there is now no difference in terms of accounting for the parties to the transaction. However, the accounting and reflection of leased property on the balance sheet of the lessee is somewhat more complicated, since the accounting approach in this matter is not fully standardized. At the same time, for real estate, then it should be noted that the leased property is recorded on the balance sheet of the lessee not by the amount of the acquisition, but by the amount of the entire leasing agreement without VAT, thus, all interest on the transaction, remuneration of the leasing company, additional expenses are subject to property tax , conversions, commissions on letters of credit, etc., which reduces the efficiency of the transaction. The real economic feasibility of accounting for property on the balance sheet of the lessee is present only if the client of the leasing company himself has property tax benefits, which allows him not to pay or significantly save in this case. Accounting on the lessee's balance sheet may also be of interest in cases where it is beneficial for a company to show an increase in assets or an increase in book value for its own internal reasons, which usually have nothing to do with economic feasibility.
On the balance sheet of the lessor
The most common situation is the reflection of the subject of leasing on the balance sheet of the leasing company. If the leasing agreement provides for the reflection of the leased asset on the balance sheet of the lessor, the lessee shall reflect the leased property on the off-balance sheet account 001 “Leased fixed assets”.
The accrual of lease payments is reflected in the credit of account 76 “Settlements with various debtors and creditors” in correspondence with cost accounting accounts: usually account 20.
Postings upon receipt of the leased asset:
Dt 001- the object of leasing is accepted for accounting at a cost without VAT;
Postings on current lease payments:
Dt 60 - Kt 51- advance payment under the leasing agreement is paid;
Dt 76 - Kt 68- offset of VAT from the amount of the advance payment;
The lessee has the right to deduct VAT immediately from the entire amount of the advance payment.
Attribution to expenses of an advance payment under a leasing agreement can be made in the first month or over several months (depending on the structure of the payment schedule).
At the same time, if the advance payment is offset during the entire leasing period or within several months, the lessee is obliged to recover the amount of VAT from the advance payment in the current month every month.
Dt 68 - Kt 76- VAT was restored from a part of the leasing payment for offsetting the advance.
Dt 20 - Kt 76- the leasing payment for the entire amount, including the advance payment, has been accrued.
Dt 19 - Kt 76- VAT has been charged on the lease payment for the entire amount, including the offset of the advance.
Dt 68 - Kt 19- VAT is presented to the budget from the amount of the lease payment.
Dt 76 - Kt 51- transferred lease payment.
Postings for the repurchase of the subject of leasing
If there is a redemption price in the leasing agreement (this amount is absent in the given lease payment schedule, for example, let's take it equal to 1,180 rubles with VAT), the following entries are made in accounting:
Dt 08 - Kt 76- reflects the costs of repurchasing the leased asset upon transfer of ownership to the lessee (repurchase price).
Dt 19 - Kt 76- VAT is charged on the redemption of the leased asset for the redemption value.
Dt 68 - Kt 19- submitted VAT to the budget.
Dt 76 - Kt 51- the amount of the repurchase of the leased asset has been paid.
Dt 01 - Ct 08- the object of leasing is accepted for accounting as part of own fixed assets, if the value of the object of leasing upon redemption is more than 40 thousand rubles.
Dt 20 - Ct 08- the cost of acquiring the subject of leasing is written off as expenses (when the repurchase is carried out at a conditional or formal price of 1000 or 100 rubles).
On the balance sheet of the lessee
The reflection of the subject of leasing on the balance sheet of the lessee has not been finally regulated, therefore it has several accounting methods with its own characteristics.
The disadvantages of some accounting methods is the fact that there is no possibility of accounting for changes in a leasing transaction, the disadvantages of other methods are, for example, the need to adjust accounting information systems. However, some accounting methods are still associated with tax risks. Let us single out the main methodological problems of accounting for leasing operations by the lessee when accounting for property (the subject of leasing) on its balance sheet.
1) The initial value of the property on the lessee's balance sheet differs from the initial value of the property on the lessor's balance sheet (20-50% difference depending on the terms of the leasing agreement). This means that the lessee's property tax will be 20-50% higher than it would be if it were recorded on the lessor's balance sheet. 122
2) The initial value of the property of the lessee differs significantly in its value according to accounting and tax accounting.
3) If the lease agreement does not specify the useful life of the leased asset and the depreciation method, then they may differ significantly from the lessor, as the main parameters for calculating lease payments, from the lessee, as actually accepted depreciation conditions under the lease agreement. This leads to great difficulties in interrupting and ending the transaction.
4) In accounting, the lessee charges only depreciation to expenses, usually using the straight-line method of accrual. If the schedule of lease payments is uneven, then there is an excess of depreciation over lease payments.
5) When the transaction is interrupted, the lessee has difficulties with the reflection in the accounting of the disposal of property. This applies to both accounting and tax accounting.
6) The tax burden on property tax is much higher than when accounting for property on the balance sheet of a leasing company.
If, under the terms of the lease agreement, the leased property is accounted for on the balance sheet of the lessee, then its cost (clause 8 of the Instructions for the reflection in accounting of transactions under the lease agreement, approved by order of the Ministry of Finance of the Russian Federation dated February 17, 1997 No. 15), is reflected in the debit of account 08 “Investments in non-current assets" in correspondence with account 76 "Settlements with various debtors and creditors" excluding VAT In accordance with common practice accounting, the initial cost of the leased asset includes all the amounts that the lessee pays to the lessor, that is, the initial cost of the fixed asset is equal to the amount of lease payments (paragraph 8 of PBU 6/01).
The Tax Code of the Russian Federation does not define the procedure for determining by the lessee the initial cost of the leased asset that is on the balance sheet of the lessee and the leased asset included by him in the depreciable property. The procedure for the formation of the initial cost of the subject of leasing, defined in paragraph 1 of Art. 257 of the Tax Code of the Russian Federation takes into account only the expenses of the lessor related to the acquisition of the leased asset, which implies the formation of the initial cost of the leased asset from the lessor and does not take into account the situation when the leased asset is recorded on the balance sheet of the lessee. From this norm and the absence of special norms regarding the determination of the initial cost of the leased asset by the lessee at the time of accepting the property on the balance sheet, it follows that the lessee also accepts the leased asset for tax accounting in the amount of the lessor's expenses associated with the acquisition of the leased asset. Thus, for the purposes of tax accounting, the lessee must have data on the initial cost of the leased object provided by the lessor. The amount of the lessor's expenses for the acquisition of the leased asset must be confirmed by the documents provided by the lessor when transferring the leased asset to the lessee's balance sheet. Such documents are: Act of transfer of property to leasing and Act of acceptance and transfer of fixed assets OS-1.
For more information on the reflection of the subject of leasing in accounting, see the attached reference material prepared by the Leasing Territory agency. The book “Accounting for Leasing Operations” covers in detail the issues of organizing primary documentation for both the lessee and the lessor, considers the features of accounting for the subject of leasing depending on the balance holder, and reveals the differences in accounting for leasing under RAS and IFRS.
