Fiscal officials reminded: in tax accounting, interest on loans received for the acquisition (construction, completion, additional equipment, reconstruction) of fixed assets, its initial cost do not increase. Such expenses are classified as non-operating expenses (Letter of the Federal Tax Service of Russia dated September 29, 2014 No. GD-4-3/19855).

Tax accounting

The position of officials is not new. True, the Federal Tax Service of Russia has not previously expressed its opinion on this issue, but the Ministry of Finance of Russia has issued quite a lot of clarifications. An example of this is the letters dated June 28, 2013 No. 03-03-06/1/24671, dated April 26, 2013 No. 03-03-06/1/14650, dated December 6, 2011 No. 03-03- 06/1/808, dated July 5, 2011 No. 03-03-06/1/398.

Thus, in letter dated December 23, 2009 No. 03-03-06/1/682, the Russian Ministry of Finance noted that interest on bank loans (loans) is not included in the initial cost of modernized depreciated property; they are taken into account as part of non-operating expenses. On the one hand, this approach allows you to quickly write off amounts as expenses, on the other hand, discrepancies with accounting may arise.

Income tax

Expenses in the form of interest on debt obligations of any type are included in non-operating expenses (subclause 2, clause 1, article 265 Tax Code RF). The specifics of attributing interest to expenses are determined by Article 269 of the Tax Code of the Russian Federation.

Interest on a loan can be taken into account in full as expenses if the rate on it does not exceed the maximum (clause 1, 1.1 of Article 269 of the Tax Code of the Russian Federation). If the bank's rate exceeds the marginal rate, expenses include interest calculated at the marginal rate.

The marginal rate is determined in one of two ways, which is fixed in accounting policy(Clause 1, 1.1 of Article 269 of the Tax Code of the Russian Federation):

• based on the refinancing rate of the Central Bank of the Russian Federation (in 2014, for ruble loans it is multiplied by 1.8, and for loans in foreign currency - by 0.8);
• based on the average rate on comparable loans (issued in the same quarter (month)).

If there are no comparable ones for any loan, the marginal rate for it is determined based on the rate of the Central Bank of the Russian Federation, even if the accounting policy establishes a comparability criterion (letter of the Ministry of Finance of Russia dated May 5, 2010 No. 03-03-06/2/83) . Let us recall that from September 13, 2012 to the present day, the refinancing rate is 8.25 percent (Instruction of the Bank of Russia dated September 13, 2012 No. 2873-U). Thus, in 2014 size limit interest for loans received in rubles is 14.85 percent (8.25% x 1.8), and for loans in foreign currency - 6.6 percent (8.25% x 0.8).

Interest on loans received for more than one year is included in expenses on the last day of each month of using the loan, regardless of the date of their actual payment (clause 8 of Article 272 of the Tax Code of the Russian Federation, letter of the Ministry of Finance of Russia dated April 10, 2014 No. 03-03 -06/1/16339).

Unified simplified

Interest paid for the provision of loans and borrowings, as well as expenses associated with payment for services provided by banks, can be recognized as expenses when applying the “simplified tax” (subclause 9, clause 1, article 346.16 of the Tax Code of the Russian Federation). The amount of interest taken into account for tax purposes is determined by analogy with income tax. Moreover, they are taken into account on the date of their payment (clause 2 of Article 346.16, subclause 1 of clause 2 of Article 346.17 of the Tax Code of the Russian Federation).

Accounting

Reflection of interest on loans and borrowings in accounting is regulated by PBU 15/2008 “Accounting for expenses on loans and credits.” According to paragraphs 6-8 of PBU 15/2008, in accounting, interest on a loan or loan received for the acquisition of a fixed asset includes:

• or at its original cost;
• or monthly for other expenses.

The first accounting option is provided for cases when a fixed asset is recognized as an investment asset.

An investment asset is an object of property, the preparation of which for its intended use requires a long time and significant costs for acquisition, construction, and production (clause 7 of PBU 15/2008). The company decides for itself which period of time is long and the expenses are significant, having consolidated these criteria in its accounting policies for accounting purposes.

In this case, interest on a loan (credit) received for the acquisition (creation) of an investment asset is included in its cost only after the start of work on its acquisition, construction, production (clause 9 of PBU 15/2008).

Let's say a company took out a loan to build a building.

In this case, before the start of design or construction work Interest on this loan is taken into account monthly in other expenses. But after the work begins, interest on this loan accrued from the 1st day of the month following the month the work began is already included in the initial cost of the building.

The accrual of interest on a loan or credit for the acquisition of an item of fixed assets, which is an investment asset, is reflected in the debit of the “Investments in” account and the credit of the “Settlements for short-term loans and loans" (or 67 "Calculations for long-term loans and borrowings").

When calculating interest on a loan or credit for the purchase of an item of fixed assets that is not an investment asset, entries are made to the debit of the “Other income and expenses” account and the credit of the account (account).

At the same time, if the company is a small enterprise, it can include all interest on loans and borrowings as other expenses. This procedure also applies to interest on those loans and borrowings that were raised for the purchase, construction or creation of investment assets (clause 7 of PBU 15/2008).

Important to remember

Expenses associated with the acquisition of fixed assets are included in their initial cost. However, interest on loans received for the purchase of property is reflected in tax accounting as part of non-operating expenses.

Fixed assets of an organization can be acquired not only at the expense of own funds, but also borrowed. Let's look at the features of reflecting in 1C the acquisition of an OS at the expense of credit funds.

You will learn:

• How is the receipt of credit funds reflected?
• in what cases is interest included in the initial cost of the operating system;
• How is the accrual of interest on the loan received reflected?
• what document is used to document the acquisition of fixed assets using loan funds?
• at what point is VAT deductible?

Step-by-step instruction

Let's consider step by step instructions example design.

Depreciation is not considered in this example.

Consider depreciation calculation (business expenses) using an example

Getting a loan from a bank

Receipt Money By loan agreement issued document Receipt to current account type of operation Receiving a loan from a bank In chapter Bank and cash desk – Bank – Bank statements— Admission.

• Sum- the amount received under the loan agreement, according to the bank statement.
• Agreement- loan agreement Type of agreement - Other.

In our example, payments under the loan agreement are carried out in rubles and the agreement term is no more than a year. As a result of selecting such a contract in the document Receipt to the current account automatically installed:

• Settlement account - 66.01 “Short-term loans”.

Postings according to the document

The document generates the posting:

• Dt Kt 66.01 - receipt of funds under a short-term loan agreement.

Transfer of advance payment to the supplier

The advance payment to the supplier is reflected document Write-off from current account transaction type Payment to supplier In chapter Bank and cash desk – Bank – Bank statements – Write-offs.

In our example, settlements under the agreement are carried out in rubles. As a result of selecting such a contract in the document Debiting from current account The following subaccounts are automatically established for settlements with the supplier:

• Settlement account - 60.01 “Settlements with suppliers and contractors”;
• Advance account - 60.02 “Settlements for advances issued.”

Please pay attention to filling out the fields:

• Sum- payment amount in rubles, according to the bank statement.

Postings according to the document

The document generates transactions:

• Dt 60.02 Kt - advance payment transferred to the supplier.

If the supplier has issued an advance invoice for prepayment, then the Organization can exercise the right to deduct VAT.

Reflection in accounting of accrued interest on a loan

Interest accrual is reflected document Operation entered manually operation type Operation In chapter Transactions – Accounting – Manual Transactions.

In our example, the fixed asset is not an investment asset, therefore interest is taken into account:

• in accounting as part of other expenses in account 91.02 “Other expenses”;
• in NU as part of non-operating expenses.

Control

The bank calculates interest on the loan, so the accountant only needs to enter a transaction with an already known amount of interest. But it is still advisable to control the amount of interest calculated by the bank.

Similarly, you can control the calculation of the interest amount in the following months.

Reporting

In the income tax return, the amount of accrued interest is reflected as part of non-operating expenses in Sheet 02 Appendix No. 2:

• p. 200 “Non-operating expenses - total” incl.
  • p. 201 “expenses in the form of interest on debt obligations...”.

Purchasing an OS

In 1C there are two options for registering the acquisition and accounting of fixed assets:

Standard option, which uses two documents:

• capitalization of OS - document Receipt (act, invoice) type of operation Equipment ;
• OS commissioning - document Acceptance of fixed assets for accounting .

Simplified version, which uses a single document:

• capitalization and commissioning of OS - document Receipt (act, invoice) type of operation Fixed assets .

When accounting for fixed assets acquired using credit funds, you can choose any method, but you need to take others into account restrictions provided for the simplified version.

In our example, there are no restrictions on the use of the simplified version, so we will formalize the acceptance of fixed assets for accounting using a singledocument Receipt (act, invoice) transaction type Fixed assets In chapter Fixed assets and intangible assets – Receipt of fixed assets – Receipt of fixed assets.

The header of the document states:

• Method of reflecting depreciation expenses - method of accounting for the cost of depreciation of fixed assets, selected from directory Method of reflecting expenses.

In our example, depreciation costs will be taken into account as part of business expenses, since the fixed assets will be used for marketing purposes. Due to the fact that the Organization is engaged in production, account 44.02 “Business expenses in organizations engaged in industrial and other production activities” will be used for this purpose.

• OS accounting group - cars and equipment.
• OS location - place of operation of the OS, selected from the Division directory.
• The checkbox is not checked: in our example, the purchased object will be used for our own needs.

The tabular section indicates:

• The main thing - acquired OS object that must be created in directory Fixed assets.
• Life time- term beneficial use(SPI) for the object. IN this document Only one SPI can be installed - the same for NU and CU.

Automatic invoicing in columns Account And Depreciation account depends on the checkbox Objects are intended for rent . Since this checkbox is not checked, then:

• Account 01.01 “Fixed assets in the organization” will be installed;
• Depreciation account 02.01 “Depreciation of fixed assets accounted for in account 01” will be set.

When posting a document, a fixed asset card in the directory Fixed assets will be filled in as follows. Wherein Depreciation group will be determined automatically depending on the service life specified in the document.

The remaining data in the OS card must be filled in manually.

Postings according to the document

The document generates transactions:

• Dt 08.04.2 Kt 60.01 - formation of the initial cost of the asset;
• Dt 01.01 Kt 08.04.2 - acceptance of the asset into the OS.

Documenting

The organization must approve the forms primary documents, including a document on commissioning of the OS and an inventory card form for further accounting of the OS. In 1C, the Certificate of Acceptance and Transfer of OS (OS-1) is used and Inventory card OS (OS-6).

The OS-1 acceptance certificate form can be printed using the button Stamp – Certificate of acceptance and transfer of OS (OS-1) document Receipt (act, invoice) .

The OS Inventory Card form in the OS-6 form can be printed using the button OS inventory card (OS-6) in the fixed asset card: section Directories – OS and intangible assets – Fixed assets.

ACCOUNTING 2015: reflection of basic and additional costs.

Interest on the loan is included in the cost of the purchased fixed asset. This is provided for in paragraph 7 of PBU 15/2008. This procedure for accounting for them is used until the cost of the OS is formed and it is put into operation. From the 1st day of the month following the month the OS was put into operation, interest on borrowed funds taken into account as other expenses. On cost of fixed asset they have no effect. Let us note that small businesses have the right to reflect interest on loans accrued before the value of this property is formed and its commissioning as part of other expenses. Additional costs associated with raising borrowed funds are taken into account as part of other expenses and are not included in the initial cost of fixed assets.

Note that the stated procedure for accounting for interest is provided only for those fixed assets that are investment assets (letter of the Ministry of Finance of Russia dated 02/08/2011 N 03-05-05-01/08). They mean those that require a long time and significant expenses for acquisition, construction or manufacturing. PBU 15/2008 does not contain information about what time can be considered long and what expenses can be considered significant. In this regard, the company can provide definitions of these concepts in its accounting policies. In this case, interest on a loan received for the purchase of fixed assets, which does not fall under the definition of an investment asset, will be taken into account as part of the company’s other expenses. They will not affect the value of the fixed asset.

An example of a loan account for expenses

The company purchases real estate (building). Its cost is 9,440,000 rubles (including VAT - 1,440,000 rubles). To purchase real estate, the company received a short-term Bank loan in the amount of 7,000,000 rubles. According to the terms of the agreement, the company must pay interest on the loan at the rate of 17% per annum. Additional loan costs ( legal analysis agreement) amounted to 11,800 rubles (including VAT - 1,800 rubles). These expenses were paid in January. The loan was received in February. Funds to pay for the property were transferred to the seller in March. In April, the building was received under an acceptance certificate, put into operation, and ownership of it passed state registration. Registration costs amounted to 11,000 rubles. According to the company's accounting policy, this object is an investment asset. These transactions were reflected in the accounting records as follows.

In January:
- debit 19 credit 60: 1800 rubles - VAT on expenses associated with obtaining a loan is taken into account;
- debit 91-2 credit 60: 10,000 rubles (11,800 - 1800) - taken into account additional expenses to receive a loan;
- debit 68 credit 19: 1800 rubles - accepted for deduction of VAT on expenses for obtaining a loan.

In February:
- debit 51 credit 66: 7,000,000 rubles - the loan amount was credited to the current account;
- debit 08-4 credit 66: 94,290 rubles (7,000,000 rubles x 17%: 366 days x 29 days) - interest accrued on the loan for February.

In March:
- debit 60 subaccount "Settlements for advances issued" credit 51: 9,440,000 rubles - funds were transferred to the real estate seller;
- debit 68 credit 76: 1,440,000 rubles - listed as part of the advance;
- debit 08-4 credit 66: 100,792 rubles (7,000,000 rubles x 17%: 366 days x 31 days) - interest accrued on the loan.

In April:
- debit 19 credit 60 subaccount "Settlements with suppliers": 1,440,000 rubles - VAT on the building is taken into account;
- debit 08-4 credit 60 subaccount "Settlements with suppliers": 8,000,000 rubles (9,440,000 - 1,440,000) - expenses for the purchase of the building are taken into account;
- debit 08-4 credit 76: 11,000 rubles - expenses for state registration of ownership of the building are taken into account;
- debit 68 credit 19: 1,440,000 rubles - accepted for deduction of VAT on the building;
- debit 76 credit 68: 1,440,000 rubles - VAT, previously accepted for deduction from the advance payment, has been restored;
- debit 60 subaccount "Settlements with suppliers" credit 60 subaccount "Settlements for advances issued": 9,440,000 rubles - the advance amount is credited;
- debit 08-4 credit 66: 97,541 rubles (7,000,000 rubles x 17%: 366 days x 30 days) - interest accrued on the loan;
- debit 01 credit 08-4: 8,303,623 rubles (94,290 + 100,792 + 8,000,000 + 11,000 + 97,541) - the cost of the building is reflected in the operating system.

In May:
- debit 91-2 credit 66: 100,792 rubles (7,000,000 rubles x 17%: 366 days x 31 days) - interest accrued on the loan.

According to the rules tax accounting interest on any borrowed funds (including those received for the purchase of fixed assets) is taken into account as part of non-operating expenses. Therefore, when purchasing fixed assets using borrowed funds, their value in accounting and tax accounting may vary.

Having considered the issue, we came to the following conclusion:
In accounting, interest is included in the initial cost of fixed assets only if the created (acquired) fixed assets are recognized as investment assets (based on the criteria established by the organization). IN otherwise interest is reflected in other expenses, including reporting period to which they belong.
In tax accounting, non-operating expenses in the form of interest on debt obligations are taken into account in the reporting (tax) period to which they relate (they are not taken into account in the initial cost of depreciable property).

Rationale for the conclusion:

Accounting

Features of formation in accounting and financial statements information on expenses related to the fulfillment of obligations under received loans and credits (including commodity and commercial ones) is established by “Accounting for expenses on loans and credits” (hereinafter -).
Interest payable to the lender (creditor) is the cost associated with fulfilling obligations on loans and credits received (hereinafter referred to as loan costs) (PBU 15/2008).
Loan costs are reflected in accounting and reporting in the reporting period to which they relate (PBU 15/2008).
In accordance with PBU 15/2008, borrowing costs are recognized as other expenses, with the exception of that part of them that is subject to inclusion in the cost of an investment asset, unless otherwise established by PBU 15/2008.
The cost of an investment asset includes interest payable to the lender (creditor) directly related to the acquisition, construction and (or) production of the investment asset.
For the purposes of this, an investment asset is understood as an object of property, the preparation of which for its intended use requires a long time and significant expenses for acquisition, construction and (or) production. Investment assets include objects of unfinished production and construction in progress, which will subsequently be accepted for accounting borrower and (or) customer (investor, buyer) as fixed assets (including land), intangible assets or other non-current assets.
An increase in the value of an object of fixed assets by the amount of interest on loans (credits) received in accounting is provided only if this object is classified as an investment asset. Specific criteria for “long time” and “significant expenses” are fixed in the accounting policy.
Thus, in accounting, interest is included in the initial cost of fixed assets only if the created (acquired) fixed assets are recognized as investment assets (based on the criteria established by the organization). Otherwise, interest is reflected as part of other expenses in the reporting period to which they relate, as expressly provided for by PBU 15/2008 (in our opinion, the organization has no reason to take such interest into account as part of deferred expenses).

Tax accounting

According to the Tax Code of the Russian Federation, the taxpayer reduces the income received by the amount of expenses incurred (with the exception of expenses specified in the Tax Code of the Russian Federation), which means justified (economically justified) and documented expenses (and in cases provided for by the Tax Code of the Russian Federation, losses) incurred (incurred) ) taxpayer. Any expenses are recognized as expenses, provided that they are incurred to carry out activities aimed at generating income.
Expenses, depending on their nature, as well as the conditions for implementation and areas of activity of the taxpayer, are divided into expenses associated with production and sales, and non-operating expenses (Tax Code of the Russian Federation). Costs associated with production and (or) sales are divided into material costs, labor costs, amounts of accrued depreciation and other expenses (Tax Code of the Russian Federation).
In accordance with the Tax Code of the Russian Federation, the initial cost of a fixed asset is determined as the amount of expenses for its acquisition (and if the fixed asset was received by the taxpayer free of charge, or identified as a result of an inventory, as the amount at which such property is valued in accordance with the Tax Code of the Russian Federation) , construction, production, delivery and bringing it to a state in which it is suitable for use, with the exception of VAT and excise taxes, except for cases provided for by the Tax Code of the Russian Federation.
At the same time, the Tax Code of the Russian Federation stipulates that expenses in the form of interest on debt obligations of any type, regardless of the nature of the granted credit or loan (current and (or) investment), taking into account the features provided for by the Tax Code of the Russian Federation, are considered non-operating expenses.
Earlier, the Ministry of Finance of Russia dated 04/02/2007 N 03-03-06/1/204, dated 03/01/2007 N provided clarifications, from which it followed that interest on loans (credits) used to create fixed assets paid during the creation period these fixed assets are included in their initial cost.
However, in other clarifications (including those that are currently relevant), the Russian Ministry of Finance proceeds from the fact that interest on debt obligations is not taken into account for profit tax purposes in the initial cost of depreciable property, since the Tax Code of the Russian Federation provides for the specifics of accounting for expenses in the form of interest on credits and borrowings and other debt obligations (see, for example, the Ministry of Finance of Russia dated 03/10/2015 N 03-03-10/12339 (sent to the Federal Tax Service of Russia dated 03/23/2015 N ГД-4-3/4568@), dated 06/28/2013 N 03-03 -06/1/24671, dated 06/11/2013 N 03-03-06/1/21757, dated 04/26/2013 N 03-03-06/1/14650, dated 12/06/2011 N 03-03-06/1/ 808, dated 05/07/2007 N 03-03-06/1/262, Federal Tax Service of Russia dated 09/29/2014 N ГД-4-3/19855@).
At the same time, the Ministry of Finance of Russia does not support the possibility of applying the Tax Code of the Russian Federation, which stipulates that if some costs with equal grounds can be attributed simultaneously to several groups of expenses, the taxpayer has the right to independently determine which group he will attribute such costs to (Ministry of Finance of Russia dated 07/05/2011 N 03-03-06/1/398).
Judicial practice also proceeds from the fact that interest on debt obligations should be taken into account not in the initial cost of fixed assets, but as an independent non-operating expense (see, for example, FAS North-Western District dated May 13, 2014 N F07-2575/14 in case N A26 -3816/2013, dated November 14, 2013 N in case N A26-7196/2011, Fifteenth Arbitration Court of Appeal dated June 29, 2015 N).
Thus, in the situation under consideration, interest on loans should not be included in the initial cost of acquired (constructed) fixed assets (in the future this may lead to claims from the tax authority related to overestimation of depreciation amounts).
Recognition of expenses in the form of interest on debt obligations is carried out by the taxpayer, who determines income (expenses) on an accrual basis, on a monthly basis, regardless of the deadline for their payment stipulated by the agreement, under which its validity period falls on more than one reporting (tax) period. In analytical accounting, on the basis of certificates from the responsible person entrusted with keeping records of expenses on debt obligations, the taxpayer is obliged to reflect as expenses the amount of interest determined in the manner established by the Tax Code of the Russian Federation (Tax Code of the Russian Federation, Ministry of Finance of Russia dated March 26, 2018 N 03-03-06 /1/18847, dated 10/19/2017 N, dated 08/28/2017 N).
There are no grounds for later recognition of interest as expenses in the situation under consideration - non-operating expenses are fully included in the expenses of the current reporting (tax) period (Tax Code of the Russian Federation). Accordingly, these expenses cannot be recognized from the moment of receipt of revenue from the sale of products (see also the Ministry of Finance of Russia dated September 20, 2011 N 03-03-06/1/578).
If in the situation under consideration the organization meets the tax authority halfway and does not recognize interest in the expenses of the current reporting (tax) period, then this will be an error (distortion) in the calculation tax base. Since the period of such an error (distortion) is known, it is possible to recalculate the tax base and tax amount in the next tax period only if the errors (distortions) led to overpayment tax (Tax Code of the Russian Federation).
If there is no tax payment in the corresponding previous tax period, the tax base and tax amount are recalculated for the period in which errors (distortions) were made (Ministry of Finance of Russia dated 08/11/2011 N 03-03-06/1/476). If errors (distortions) occurred in the period in which the organization incurred a loss or the tax amount was zero, then the tax base and tax amount are recalculated for the period in which the errors (distortions) were made (see also the Ministry of Finance of Russia dated 05/07/2010 N 03-02-07/1-225, dated 04/27/2010 N, dated 04/23/2010 N, dated 03/15/2010 N, Arbitration Court Ural District dated June 11, 2015 N F09-2899/15 in case N A60-44340/2014).
In this case, the organization has the right to include in the tax base of the current reporting (tax) period the amount of the identified error (distortion), which led to the excessive payment of corporate income tax in the previous reporting (tax) period, only if in the current reporting (tax) period a profit was made. If, based on the results of the current reporting (tax) period, a loss is received, the tax base is recalculated for the period in which the error occurred (see, for example, the Ministry of Finance of Russia dated 02/16/2018 N 03-02-07/1/9766, dated 05/16/2016 N , dated July 22, 2015 N).
Accordingly, in order to recalculate the tax base in the current reporting (tax) period, it is necessary that the organization make a profit during the period of the error (distortion) and in the period of its detection. In the absence of profit, the tax base and tax amount are recalculated according to general rule, provided for by the Tax Code of the Russian Federation, i.e. for the period in which errors (distortions) were made.
In the situation under consideration, even if interest is not recognized as expenses of the current reporting (tax) period, the organization will receive a loss. Therefore, if you make a mistake now (not recognizing interest in expenses), then in the future, in order to recognize expenses, you will still have to recalculate the tax base for the period in which the errors were made.
When conducting cameral tax audit tax return(calculation), which states the amount of loss received in the corresponding reporting (tax) period, the tax authority has the right to require the taxpayer to submit within five days the necessary explanations justifying the amount of loss received (Tax Code of the Russian Federation).
We believe that an organization can justify the inclusion of interest in expenses to the tax authority with the following arguments:
- the loss is reflected in the reporting due to the fact that the organization does not yet carry out production activities (fixed assets are being created (acquired)), the production and sale of products and, accordingly, the receipt of income are expected in the future;
- non-operating expenses in the form of interest on debt obligations must be taken into account for tax purposes in the reporting (tax) period to which they relate;
- clarifications from the Russian Ministry of Finance (including those directed tax authorities) indicate that interest on debt obligations is not taken into account for profit tax purposes in the initial cost of depreciable property;
- if the expenses incurred by the organization comply with the criteria of the Tax Code of the Russian Federation, such expenses are taken into account when determining the tax base for income tax in the manner established by the Tax Code of the Russian Federation, regardless of the presence or absence of income from sales in the corresponding tax period (Ministry of Finance of Russia dated 09/05/2012 N 03- 03-06/4/96);
- the economic justification of the expenses incurred by the taxpayer is determined not by the actual receipt of income in a specific reporting (tax) period, but by the focus of such expenses on generating income, that is, their conditionality economic activity taxpayer; acceptance of expenses for tax purposes is not excluded even if the taxpayer receives a loss as a result financial activities for the reporting (tax) period (Tax Code of the Russian Federation) (see, for example, the Ministry of Finance of Russia dated October 27, 2005 N 03-03-04/4/69, the Nineteenth Arbitration Court of Appeal dated July 27, 2016 N 19AP-2448/16).

Prepared answer:
Expert of the Legal Consulting Service GARANT
Arykov Stepan

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According to paragraph 8 of PBU 6/01, interest on borrowed funds accrued before accepting an object of fixed assets for accounting, if they were raised for the acquisition, construction or production of this object, are the actual costs of the acquisition, construction and production of fixed assets.

On January 1, 2002, PBU 15/01 “Accounting for loans and credits and the costs of servicing them” was put into effect, which also establishes the procedure for recognizing the costs of paying interest on borrowed funds. According to paragraph 11 of PBU 15/01, costs associated with obtaining and using loans and credits include, in particular, interest payable to lenders and creditors on loans and credits received from them. The specified interest is either recognized as expenses for the period in which they are incurred (current expenses) or is included in the cost of the investment asset (clause 12 of PBU 15/01).

It should be noted that PBU 15/01 introduces the concept of “investment asset”, which for the purposes of the Regulations is defined as “an object of property, the preparation of which for its intended use requires significant time.” According to paragraph 13 of PBU 15/01, investment assets include fixed assets, property complexes and other similar assets that require a lot of time and costs for acquisition and (or) construction. Similar objects purchased directly for resale are accounted for as goods and are not classified as investment assets.

In accordance with paragraph 23 of PBU 15/01, the costs of received loans and credits directly related to the acquisition and (or) construction of an investment asset must be included in the cost of this asset and repaid through depreciation, except in cases where depreciation of the asset is not provided. The inclusion of costs for received loans and credits in the initial cost of an investment asset is carried out if the following conditions are met: a) the occurrence of costs for the acquisition and (or) construction of an investment asset; b) the actual start of work related to the formation of an investment asset; c) the presence of actual costs of loans and credits or obligations for their implementation.

Thus, PBU 15/01 introduces additional restrictions regarding the possibility of including interest on borrowed funds in the initial cost of future fixed assets that are not provided for by PBU 6/01. Therefore, when deciding on the formation of the initial cost of fixed assets, it is necessary to be guided by the following provisions.

Interest on borrowed funds accrued before accepting an object of fixed assets for accounting, if they were raised for the acquisition, construction or manufacture of this object, is included in the capital costs that form the initial cost of fixed assets.

The Federal Law “On Accounting” and PBU 6/01 do not contain any restrictions on the inclusion in the initial cost of fixed assets of costs associated with their acquisition, construction and production, including interest on borrowed funds, except that these costs must be directly related to the fixed asset item.

Interest accrual is reflected by the following entries:

1) Interest is accrued until the fixed asset item is accepted for accounting:

Debit 08 Credit 66;

2) The fixed asset item has been accepted for accounting:

Debit 01 Credit 08.

Interest accrued after the object is accepted for accounting is recognized as operating expenses in accordance with paragraph 11 of PBU 10/99:

Debit 91 Credit 66.

A.A. answered the question. Lutskaya,
accountant-consultant