After your company has issued its own promissory note, you need to monitor the amount of promissory interest or promissory discount every month (this depends on the type of your promissory note). Indeed, for the purposes of taxation of profits, there are certain restrictions on accounting for interest in expenses. And these restrictions also apply to promissory notes and discounts.

How to calculate interest on a bill for a month

The text of an interest-bearing bill must indicate the rate for calculating the interest that the drawer will be required to pay in excess of the face value when redeeming the bill.

Attention

Interest accrual stops after the maximum term for presenting a bill for payment.

As a general rule, interest begins to accrue from the day following the day the bill was drawn up. But if the bill itself indicates a different date for the start of interest accrual, then this will be the first day for interest accrual in pp. 5 , , 77 Regulations on transfer and promissory notes, approved. Decree of the CEC of the USSR and the Council of People's Commissars of the USSR dated 07.08.37 No. 104/1341 (hereinafter referred to as the Regulation); Letter of the Ministry of Finance dated November 6, 2008 No. 03-03-06/2/150. An exception is a bill of exchange with a payment term "at sight, but not earlier." If it is not specified from which date to accrue interest, then they can be accrued from the date "not earlier" paragraph 19 of the Resolution of the Plenum of the Supreme Court No. 33, the Plenum of the Supreme Arbitration Court No. 14 of 04.12.2000.

Interest is accrued on the day the bill is presented for payment, but in general not more than 365 (366) days, unless a longer period is specified in the bill itself.

If the drawer has limited the term for presentation of the bill by the clause "on presentation, but not earlier", then 365 days begin to flow from the date "not earlier".

For example, interest on a promissory note with a maturity date of “at sight, but not earlier than 03/12/2013” ​​is accrued until 03/11/2014. If the bill is presented earlier, for example, 05/24/2013, then the last day for interest calculation is 05/24/2013.

The amount of interest accrued for the current month is calculated as follows:

• in the first month of interest accrual - from the date of commencement of interest accrual until the last day of the month;
• in the month of presentation of the bill for redemption - from the 1st day of the month and until the day of presentation;

How to calculate the discount on a promissory note for a month

In order for expenses in the form of a discount (which, as we have already said, is interest on a loan) to be taken into account in the period for which they are accrued, the amount of the discount, both in accounting and in tax accounting, must be evenly distributed over the entire period of circulation of the promissory note. clause 16 PBU 15/2008; clause 18 PBU 10/99; pp. 1, 8 art. 272 Tax Code of the Russian Federation.

You can distribute the discount in two ways.

METHOD 1. In proportion to the number of days for which the discount is due. The number of days for which the discount is due is the period from the day following the day the bill was drawn up to the day on which the bill must be presented for redemption (maturity).

The number of days of circulation of a bill in a month is determined by:

• in the month of issue of the bill - from the day following the day of issue of the bill, and until the last day of the month;
• in the month of presenting a bill for redemption - from the 1st day of the month and until the day the bill is presented for redemption;
• in other months - as a calendar number of days in a month.

How to take into account interest and discount on the "correct" bills

income tax

For income tax both discount and interest on a promissory note are recognized as expenses within the limits paragraph 3 of Art. 43, sub. 2 p. 1 art. 265 of the Tax Code of the Russian Federation;. The standard is the maximum rate for calculating interest. It can be defined:

• <или>based on the refinancing rate of the Central Bank of the Russian Federation;
• <или>based on the average rate for comparable loans.

If your company receives a lot of loans and credits, it makes sense to prescribe the criteria for comparability of debt obligations in the accounting policy, since the marginal rate determined on the basis of comparable liabilities is higher than the marginal rate determined on the basis of the refinancing rate. In general, loans are comparable if:

• they were issued in the same reporting period;
• they are issued in the same currency;
• loan terms differ by no more than 20%;
• loan amounts differ by no more than 20%.

In addition, the Russian Ministry of Finance considers that loans issued by an individual and loans issued by an organization are not considered to be issued on comparable terms x Letter of the Ministry of Finance dated 02.06.2010 No. 03-03-06/2/104.

The issue of comparability of promissory notes and non-promissory notes is disputable. From the letters of the Ministry of Finance, it can be concluded that bill and non-bill debts are not comparable Letter of the Ministry of Finance of July 21, 2010 No. 03-03-06/2/129.

FROM AUTHENTIC SOURCES

Consultant of the Department of Tax and Customs Tariff Policy of the Ministry of Finance of Russia

“Indeed, to determine the comparability of debt obligations, it is impossible to use the conditions under the loan agreement and the loan issued by a promissory note. In order for the conditions on obligations to be recognized as comparable, such obligations must be of the same type. Moreover, it is necessary that loans on identical terms be issued to two or more organizations.

To calculate the average rate for comparable loans, you must first determine the interest rate on the bill. Everything is clear with an interest-bearing bill - its rate is indicated in the text of the bill. And for discount bills, the interest rate will need to be determined independently according to the formula that we have given above. We substitute the resulting interest rate into the formula for calculating the average level of interest:

The maximum amount of interest is calculated based on the average level of interest increased by 1.2 times. As expenses, we take the smaller of the two amounts:

• <или>this maximum amount of interest;
• <или>the amount of interest actually accrued.

If you issue bills of exchange from time to time, you have not set comparability criteria in your accounting policy, or you simply do not have comparable debts, then use the rationing method at an increased refinancing rate clause 1.1 of Art. 269 ​​of the Tax Code of the Russian Federation. Since the rate on a bill cannot change a priori, to calculate the standard, we take the refinancing rate on the date of issue of the bill. Then you determine the maximum amount of discount or interest that you can take into account in expenses, according to the formula:

• <если>discount bill:

• <если>interest-bearing bill:

After comparing the maximum and actually accrued amounts of interest (discount) for the month, we recognize in expenses at the end of the month the amount that is less paragraph 8 of Art. 272, paragraph 1.1 of Art. 269, paragraph 8 of Art. 270 Tax Code of the Russian Federation.

Accounting

In accounting, the accrued amount of discount or interest is not standardized. The discount amount is evenly distributed over the entire term of the promissory note. Interest and discount are monthly recognized in other expenses x clause 15 PBU 15/2008:

• before the month of presenting the bill for redemption - on the last day of the month;
• in the month of presentation of the bill for redemption - on the date of presentation.

Accounts payable on interest or discount should be accounted separately from the principal amount of the debt, for example, on the sub-account "Interest on a bill" to account 60 "Settlements with suppliers and contractors". In the balance sheet, interest should be reflected in the same way as the amount of the debt on the bill, that is, as borrowed funds:

• <если>the date of payment on the promissory note does not come within 12 months after the reporting date, then on line 1410 "Borrowed funds" in section IV "Long-term liabilities";
• <если>the date of payment on the promissory note will come within 12 months after the reporting date, and also if the payment term on the promissory note is set "at sight", then on line 1510 "Borrowed funds" in section V "Current liabilities".

In the income statement, interest or discount is shown on line 2330 "Interest payable".

How to discount the "wrong" bills

As we have already said, it is not advisable to issue a discount bill with a maturity of "at sight". And, as a rule, such bills are not issued. In practice, a discount bill is often issued with a maturity date “at sight, but not earlier”. It is impossible to evenly distribute the discount on the "wrong" bill, since the maturity date for it is not known in advance. There are two ways to get out of this situation.

METHOD 1. When calculating the amount of the discount for the month, as well as the maximum amount of the discount for recognition for tax purposes, you can use in the formula instead of the "Maturity" indicator the "Estimated (estimated) term of the bill of exchange" indicator. It can be determined by the formula:

The resulting discount amount should be compared with the maximum discount amount and the lesser of these amounts should be recognized as an expense. When the bill is presented for redemption and the actual period of use of the money becomes known, it will be necessary to recalculate.

STEP 1. Calculate the maximum amount of the discount for tax purposes for the actual time of using the money.

STEP 2. Compare the total discount on the promissory note and the amount received in step 1.

STEP 3. From the lower amount, subtract the discount that was recognized in expenses in previous reporting periods.

STEP 4. Take into account the amount received in step 3 as expenses in the reporting period when the bill is presented for redemption.

In accounting, the discount amount is evenly distributed, but not normalized. The entire discount that has not been accrued by the time the bill is presented is recognized as other expenses as of the date the bill is presented. clause 6 PBU 15/2008; pp. 11, 18 PBU 10/99.

METHOD 2. Do not distribute the discount between the reporting periods, since the interim payment of interest (discount) on the promissory note is not provided. The entire discount is recognized as an expense in the reporting period when the promissory note is presented for redemption. Art. 54, sub. 2 p. 1 art. 265 of the Tax Code of the Russian Federation; Decision of the Presidium of the Supreme Arbitration Court dated November 24, 2009 No. 11200/09.

In accounting, the discount is recognized in full in other expenses as of the date the promissory note is presented for redemption. clause 15 PBU 15/2008.

We pay (repay) our own bill

income tax

The redemption of a promissory note does not entail any consequences for income tax. sub. 12 st. 270 Tax Code of the Russian Federation.

Accounting

A bill of exchange during its "life" could change many owners, but you make a payment on a bill to the person who presented it for payment pp. 14, 16 Provisions. And in accounting it is necessary to show the repayment of a bill transferred to the supplier for goods (works, services).

Consider accounting for the "wrong" own bill - this often causes difficulties.

Example. Accounting when issuing own bills

/ condition / On March 15, 2013, Buratino LLC shipped oak boards for Zolotoy Klyuchik LLC in the amount of 3,300,000 rubles, including 18% VAT. On the same day, Golden Key LLC issued its own bill of exchange in the amount of 3,335,000 rubles as security for payment. with a payment term "at sight, but not earlier than April 1, 2013". The bill was presented for redemption on 04/01/2013, the money was received on the current account on the same day. The reporting period for income tax is a quarter.

/ decision / On the date of receipt of the bill of income and expenses for tax purposes does not arise. In calculations, we will proceed from the fact that the bill can be presented for payment no later than 03/31/2014. Discount 35,000 rubles. (3,335,000 rubles - 3,300,000 rubles) is due to the bill holder for 381 days (16 days from 03/16/2013 to 03/31/2013 and plus 365 days). Calculate the monthly discount:

• as of March 31, 2013 - 1469.82 rubles. (35,000 rubles / 381 days x 16 days);
• as of 04/01/2013 - 33,530.18 rubles. (35,000 rubles - 1469.82 rubles).

In tax accounting, the maximum amount of the discount in March will be 21,481.64 rubles. (3,300,000 rubles x 8.25% x 1.8 / 100% / 365 days x 16 days). Since the standard is not exceeded, then in March the actual amount of the discount will be recognized - 1469.82 rubles.

The maximum amount of the discount as a whole on the promissory note for the entire term is 22,824.25 rubles. (3,300,000 rubles x 8.25% x 1.8 / 100% / 365 days x 17 days). This is less than the total discount on the promissory note - 35,000 rubles, so the "missing" 21,354.43 rubles will be recognized as expenses in April. (22,824.25 rubles - 1,469.82 rubles).

Such entries will be made in the accounting records of Zolotoy Klyuchik LLC.

Contents of operation	Dt	ct	Amount, rub.
As of the date of receipt of materials (15.03.2013)
Received materials	10 "Materials"	60 "Settlements with suppliers and contractors", sub-account "Settlements"	2 796 610,17
Reflected the amount of VAT on purchased materials	19 "VAT"	60, sub-account "Settlements"	503 389,83
VAT accepted for deduction	68 "Calculations on taxes and fees", subaccount "VAT"	19 "VAT"	503 389,83
Own bill issued	60, sub-account "Settlements"		3 300 000,00
As of the last day of the month (03/31/2013)
March discount recognized	91 “Other income and expenses”, sub-account “Other expenses”		1 469,82
As of the promissory note redemption date (04/01/2013)
April discount recognized	91, sub-account "Other expenses"	60, sub-account "Interest on a bill"	33 530,18
PNO recognized ((33,530.18 rubles - 21,354.43 rubles) x 20%)	99 "Profit and loss", sub-account "PNO"	68, sub-account "Income tax"	2 435,15
Money transferred by bill	60, sub-account "Promissory notes issued"	51 "Settlement account"	3 300 000,00
	60, sub-account "Interest on a bill"	51 "Settlement account"	35 000,00

But what if the due date has come and the bill has not been returned to you? Nothing special, do the same as with ordinary accounts payable: after the statute of limitations expires, write off the debt on the bill, along with interest, into income. paragraph 18 of Art. 250 Tax Code of the Russian Federation. At the same time, the limitation period - 3 years - is considered not from the date of drawing up the bill, but from the latest date when the bill can be presented for payment from pp. 70, 77 Regulations; Decree of the FAS MO dated 05.09.2011 No. КА-А40/9381-11.

A bill of exchange is called a bill of interest, the text of which contains a condition on the payment of interest on the bill amount. In order to avoid litigation, it is more correct to write the following terms on interest:
"Interest at the rate of 10% per annum (year - 365 (366) days)" (promissory note at sight).
If the promissory note has a term of "so much time from drawing up" or "on a certain date", then the total amount to be repaid (nominal value + amount of interest due) is indicated:
"I undertake to pay the amount of the bill of exchange (the total amount is indicated: face value +%)".
The discount bill does not contain interest terms in the text, it is sold at a price below face value (with a discount). Discount - the difference between the face value of the bill and its purchase price.
The main division of bills of exchange into simple and transferable. The difference between them in the most general form is manifested in the fact that:
- a promissory note (or "solo bill") is drawn up and signed by the debtor and contains his unconditional obligation to pay the creditor a certain amount at a specified time and place;
- A bill of exchange (or "draft") is drawn up and signed by the creditor (drawer) and contains an "order" to the debtor (drawee) to pay within the specified time the sum of money indicated in the bill to a third party (remittent).
In addition, if a promissory note must contain a simple and unconditional promise (obligation), then a bill of exchange is a simple and unconditional offer (request) to pay a certain amount of money.
Thus, if under a promissory note the drawer himself undertakes (promises) to make a payment, then under a bill of exchange he proposes to do this to a third party (payer) indicated in the bill. This is the main difference between a promissory note and a bill of exchange. The previously existing point of view, according to which a bill of exchange differs from a simple one by the possibility of its transfer to third parties, is not justified, since in accordance with the current legislation, by making an endorsement (endorsement), rights can be transferred both under a bill of exchange and under a promissory note.
The legislator traditionally distinguishes only two types of bills. As we have already noted, this is a bill of exchange and a promissory note.
In the theory of bill of exchange law, other types of bills are also distinguished. In particular: treasury, bronze, friendly, counter; - depending on the collateral: secured and unsecured; bearer and warrant.
A bill of exchange is widely used in banking practice - raising funds, collateral for loans, in the form of a loan, a settlement document, etc.
In international banking, various types of negotiable documents are widely used, mainly used in the settlement and deposit operations of banks.
The term "transferable documents" originated and is widely used in English legal literature and legislation.

A promissory note is a written obligation of a bank, possibly a company, to pay a sum of money within a certain period of time to a person specified in the promissory note. Bills of exchange are issued in paper form, since they are issued in a specific name. Debt paper has no time limit and amount. After the promissory note is repaid, income and a fixed interest are paid. Now, basically, everyone on the market issues discount bills, which are redeemed at the amount indicated in the paper, but initially they pay a lower price for it - a discount.

The bill market is not as developed as the stock market, but nevertheless, investments can bring quite a large income compared to income from bonds or bank deposits. I must say that this investment will be profitable only if you are going to put into circulation from 1 million rubles.

Pros of bills

What is the advantage of these securities? Why is it profitable to do business with them? Investors who do not expect large returns in a short time with the probability of being left with nothing prefer a fixed return on invested amounts. Their choice falls on government bonds, road certificates, deposits. Bills are rarely used, although they can bring a good income. As a rule, banks offer interest and discount bills.

Often the yield on bills is equal to the income received on deposits or bonds. Of course, this refers to reliable promissory notes of large banks with state participation - Sberbank, Gazprombank, VTB.

Approximate mathematics

The bill of Sberbank in six months gives a yield of 5% per annum, in a year - 6%. Annual deposits at the same time have an income of about 9%. Bonds of VTB, "Gazprombank" yield about 6% per annum. By the way, Sberbank also offers a discount bill as a profitable product.

Only bills of low reliability can compete with deposits and bonds of state-owned banks. But this is a big risk, here the investor himself decides whether to invest in banks and financial companies or not.

Another important point

But there is one very important advantage of a bill: you can pay with this debt paper, for example, for an apartment or a car, it is also accepted as collateral when making a loan application.

Debt paper can be transferred to another person, as well as simply sold.

A sample discount bill, as well as other types of written bank obligations, can be viewed on the Internet.

Cons of bills

Debt securities are not very popular among private investors, because they have a number of shortcomings that are quite capable of making a person not pay attention to such investments.

The biggest downside is the amount of investment. The investor must be a very wealthy person, ready to invest at least 1 million rubles in debt securities.

Bank bills are not protected in the event of a bank failure. Knowing how often licenses are revoked in Russia even from apparently trustworthy banks, people refuse to take risks by buying debt paper. Some banks continue to operate, but may default on promissory notes. In this case, the investor also does not receive money.

Individuals who have money on deposit are first of all creditors in the bankruptcy procedure, and bill holders are referred to the 5th queue of creditors.

In non-credit institutions, there may also be defaults on promissory notes.

Difficulties of early return

For promissory notes it is much more difficult to return the money before the end of the term than for deposits, even which are concluded on the basis of the impossibility of early withdrawal of funds. That is, if an investor urgently needs his money invested in a promissory note, he will have to sell debt paper on the secondary market and, most likely, at a price even lower than the purchase price.

Where and how to buy a bill?

If, nevertheless, all the shortcomings of promissory notes did not stop the investor, you can find out in this part of the article how to purchase paper and where.

Companies that want to place a bill usually entrust this procedure to banks, investment companies that are financial agents. This also applies to simple discount bills from Sberbank, for example. The first owner of the bill is a financial agent, other market participants are already buying from him. So private investors buy all bills already in the secondary market.

Although the bill has a cash equivalent, it is not traded on stock exchanges, so the average prices can be viewed in the Russian bill of exchange system (RVS), as well as on the official websites of news agencies - Finmarket, Interfax.

Even if you liked a certain bill, it is impossible to buy it on the secondary market on your own, you will need to contact a professional intermediary. Usually these are banks and investment companies (IC "Veles-Capital", IC "Region", for example).

The procedure for buying a debt obligation is extremely simple. An investor signs a regular paper purchase and sale agreement with a financial agent or a professional market participant. Pays for the transaction from his account plus interest for the transaction.

The amount of commission for agents is from 0.3-2.5% of the transaction amount. In any case, you must have at least $100 ready. An individual can apply to the same intermediary or financial agent again if he does not want to or for some reason cannot wait for the maturity of the bill. But the commission will have to be paid again in the same amount. Accounting for discount bills due to these nuances is not something simple.

Impossibility of speculation

It will not be possible to trade bills on the sites, so you should not expect speculative demand for them. Since each time you will have to pay a commission to intermediaries, all these operations will be unprofitable. You also need to remember about 13%, which will have to be paid to the tax authorities if the transaction is profitable. It is extremely rare for private investors to sell bills ahead of maturity.

Sberbank bills

Sberbank offers an interest-bearing ruble bill and a currency bill. Income on them is accrued in the form of interest.

Also on sale is a discount bill, also in rubles and foreign currency. The difference between the redemption amount and the purchase amount will be the income, the amount (face value) and the selling price of the bill to the first bill holder.

An interest-bearing debt obligation to the bearer is issued with a predetermined maturity and with any term, but not earlier than a certain date. This is the difference between discount bill and interest bill. But this is only a superficial view. There are a few more nuances.

Discount bills have a slightly different repayment system: on a certain date or on any day, but not earlier than the date indicated in the bill.

There are also convertible bills of Sberbank. The cost in the paper is written in US dollars or euros, but they necessarily indicate that the payment will be made in rubles on the date of repayment. Such a bill is also purchased for rubles.

Note to the investor

Currently, bills of more than 200 companies and banks are traded on the market, many of them also offer discount bills. Specialists of the stock market and investment companies recommend that private investors invest in bank bills, since the Central Bank maintains strict financial control of all banks and forces them to disclose their financial situation on official websites. Here, even the investor himself, having minimal knowledge, will be able to assess the reliability of a particular bank.

In the risk group there are always bills on which they offer inflated interest, and they are traded by little-known companies with closed financial statements. Very often, such companies are ordinary financial pyramids. It will be extremely difficult or impossible to return the money.

The promissory note usually has strict maturity dates. It is advisable to receive money on this day or, as a maximum, in the next two banking days. The repayment of the discount bill occurs clearly at face value at the end of the term. Of course, no one takes any fines and additional interest, they usually meet the investor halfway, but they have the right not to pay the overdue bill. You can get money yourself, and entrust it to a financial agent or broker who made the deal. But you still have to pay interest. So it is more profitable to repay privately. By the way, Sberbank also offers a simple discount bill.

The importance of proper formatting

The Geneva Bill of Exchange Convention of 1930 sets out very strict rules for issuing bills of exchange and maturity dates. If at least one of the requirements is violated, this will allow not to consider the document as a bill of exchange, so you need to carefully buy a promissory note in the secondary market, there are many fakes. Banks or companies that issue bills have the right to refuse to cancel a bill drawn up with violations.

The most forged promissory notes on the secondary market are securities of Sberbank and Gazprombank, since they are the only ones that are mainly traded on the market.

Even if an investor works on the market through an intermediary, you should not fully rely on his decency and professionalism. In any case, you will need to request additional expertise from the drawer for the authenticity of the paper.

Many financial professionals believe that a promissory note is not an investment for individuals. Those who do not agree with them, have calculated everything, analyzed it and are ready to take risks, it is better to buy bills closer to the end of a quarter, half a year or a year. Then the ruble supply on the market decreases, and financial agents give more favorable interest on repayment.

Conclusion

So, the private person himself needs to decide whether he is ready to invest in a bill of exchange or not. Now on the market these debt securities are represented by a discount bill. That is, income is the difference between the purchase price and the redemption amount. It is desirable to repay the bill strictly on the date, otherwise they may refuse to pay. In order to profitably invest in bills, you must have at least 1 million rubles to complete a transaction, otherwise it will be unprofitable. For semi-annual bills, on average, they give from 5-7% per annum. There are, of course, higher interest rates, but here the risk of losing everything is huge. Even if you decide to invest in a bill, you will not be able to buy it yourself, you will need an intermediary - a broker, banks, investment companies. When making a transaction, they take a commission from 0.3-2.1%, depending on the amount of the transaction and the drawer. It is better to buy bills in banks, because the Central Bank pursues a tough policy, and the financial results of any bank can be viewed on its official website and make a decision to purchase.

Usually, the drawer, when redeeming a bill, pays an amount greater than the amount of money received under this bill or the cost of goods, works or services purchased for it. In fact, this is the payment of the bill debtor for the use of money during the circulation of the bill. And often it is expressed as a discount - the difference between the face value of the bill and the funds raised under the bill. Tax accounting for such a discount is not easy. Therefore, let's deal with it together using the example of a promissory note, which had only one holder.

Discount = income / expense on debt obligations

In tax accounting, the discount on a promissory note is taken into account in the same manner as income / expenses on any other debt obligation. As you remember, special rules are established for their recognition:

• income or expense must be taken into account based on the established profitability and the duration of the debt obligation;
• for debt obligations, the validity of which falls on more than one reporting period, income or expense must be reflected at the end of each month. If a debt obligation is settled before the end of the reporting period, income or expense must be recognized at the maturity date.

Accounting at the drawer

General conditions for recognizing a discount in expenses The drawer, when accounting for a discount in expenses, must remember two more conditions: the equivalent for a bill (money or goods, work, services, for which it was issued) must be received and the bill must be kept by the holder of the bill. For example, if a loan is issued by a bill of exchange and it is issued later than the receipt of money, then the drawer until the bill is issued, the costs of it are not entitled to recognize. The same principle applies to the redemption of a bill. The drawer, from the moment he returned the loan or received a bill of exchange from the holder of the bill, must stop taking into account the costs of the bill. In order to avoid disputes with the tax authorities regarding the period the bill of exchange was held by the holder of the bill, the date of issue of the bill and its presentation to the drawer must be recorded in the acts of acceptance and transfer of the bill. And we must not forget that the discount is exactly the same normalized expense as the interest on loans. Therefore, if the total expense on a bill exceeds the standard expense, the difference cannot be taken into account for tax purposes. Let's explain this with an example. Example. Rationing of bill discount CONDITION On February 21, 2011, the organization issued a promissory note in the amount of 550,000 rubles. with a payment date of 06/01/2011, having received 525,000 rubles for it. Interest is included in tax expenses according to the standard based on the refinancing rate increased by 1.8 times. The refinancing rate for the period from February 21, 2011 to June 1, 2011 is 7.75% (conditionally). DECISION The discount accounting period for a bill is 100 days (from 02/22/2011 to 06/01/2011). The maximum discount that can be taken into account for tax purposes is 20,065 rubles. (525,000 rubles x 7.75% x 1.8 / 365 days x 100 days), which is less than the discount on the bill of 25,000 rubles. (550,000 rubles - 525,000 rubles). This means that the drawer can take into account the discount in expenses only within the limit - 20,065 rubles. Deciding whether we will distribute the discount by months On the one hand, the answer directly follows from the Tax Code of the Russian Federation, which links the inclusion of interest on debt obligations in expenses not with the actual fact of their payment, but with the end of the month. With this approach, the discount amount must be distributed by months based on the number of days in each of them and the number of days of the total circulation period of the bill. On the other hand, for loans, there was one Resolution of the Presidium of the Supreme Arbitration Court of the Russian Federation, in which he indicated that the borrower should take into account interest in expenses only in the period when he has an obligation to pay them. And the tax authorities during the audit may well, referring to this Decree, consider that the obligation to pay the discount from the drawer arises only when the bill is presented for payment. This means that the discount can be recognized as an expense not earlier than the period of its payment. In this case, you can show them the explanations of the Ministry of Finance and the Federal Tax Service of Russia, insisting on the distribution of the discount by month. How to allocate the discount It is necessary to proceed from the fact that when you pay a bill, you will pay an amount equal to its face value, and the date of payment will be the deadline for presenting the bill for payment. How to determine this date? SITUATION 1. A bill of exchange with an exact date. The date of presentation of such a bill is indicated in it itself in the requisite "Maturity date". SITUATION 2. Promissory note "at sight". Everything is more complicated here, because it is not known exactly when the bill will be presented for payment. However, based on the fact that this should happen no later than a year from the moment the bill was drawn up, it is quite convenient and logical to take the term of its circulation as 365 (366) days. What is the Ministry of Finance of Russia talking about. SITUATION 3. Promissory note "at sight, but not before". Its accounting is fraught with the most difficulties. In this case, the drawer in this case can only say very approximately when the bill will be presented for payment, which means that it is impossible to accurately calculate the expense taken into account for taxation. The Ministry of Finance of Russia solves this problem in the following way: the term of circulation of bills "upon presentation, but not earlier" should be defined as 365 (366) days plus the period from the date of drawing up the bill to the first possible date of presentation for payment - that same date "not earlier". However, the Federal Antimonopoly Service of the Urals, the Federal Antimonopoly Service of the North-Western and the Federal Antimonopoly Service of the Volga districts do not agree with this position. In their opinion, the costs of bills of exchange "at sight, but not earlier" should be distributed within a period calculated from the date of drawing up the bill to the minimum date of its presentation for payment. After all, the possible presentation of a bill later than the date "not earlier" does not entail an increase in the costs of the drawer. Which option to choose is up to you. It is clear that the Ministry of Finance option is safer; there will be no claims against it during verification. Well, if a promissory note with a maturity date "at sight, but not earlier" is presented for payment before the deadline for payment, you can take into account the remaining part of the discount in non-operating expenses at a time. True, only within the limits of the norm, calculated on the basis of the actual period of circulation of the bill.

Accounting at the bill holder

For the holder of the bill, the discount is non-operating income. And it must also be distributed by months in the same way as the drawer does. If the discount accounted for exceeded the discount paid It also happens that the income or expense recorded for tax purposes in the form of a discount exceeds the discount actually paid on the promissory note. For example, by agreement of the parties, a bill of exchange is paid ahead of schedule in an amount less than the amount of the equivalent received at the time for the bill and the already accrued discount. In the period when the bill is repaid, the drawer needs to increase non-operating income by the part of the discount accounted for in expenses, but not paid. It is not necessary to submit revised declarations for past periods, since the expenses of past periods were not overestimated. The holder of the bill, in the period of repayment of the bill, the amount of the discount, previously taken into account in profit, must be included in non-operating expenses. This is the opinion of the Ministry of Finance of Russia. Consider how to take into account the discount for early repayment of a bill, using an example. Example. Tax accounting of the discount in case of early redemption of the bill CONDITION Let's use the conditions of the previous example, supplementing it. On 20.04.2011 the drawer and the holder agreed that the bill would be paid ahead of schedule - 30.04.2011 in the amount of 527,000 rubles. RESOLUTION 68 days have passed from the moment of issuance of the bill to its redemption (from 22.02.2011 to 30.04.2011). During this time, the drawer will take into account the discount in the amount of 13,644 rubles. (20,065 rubles / 100 days x 68 days), and the holder of the bill - in income in the amount of 17,000 rubles. (25,000 rubles / 100 days x 68 days). Since the bill was paid in less than the nominal amount, in April 2011 the drawer must take into account 11,644 rubles in non-operating income. (525,000 rubles + 13,644 rubles - 527,000 rubles), and the bill holder in non-operating expenses - 15,000 rubles. (525,000 rubles + 17,000 rubles - 527,000 rubles). *** In conclusion, the advice to the holders of the bill - without special need, do not ask to pay off the bill ahead of schedule. The tax inspectors may regard the amount of the discount that you did not receive as a forgiven debt and forbid it to be taken into account in expenses. You will most likely fight off the claims. But why unnecessary conflicts? First published in the journal "Glavnaya kniga" 2011, N 6 Kononenko A.V.

It is a bank bill that is issued or sold at a discount.

In some cases, the discount amount may be zero.

At zero discount, the holder of the bill will not receive a profit, since the price for acquiring the security does not differ.

Also, the maturity of the promissory note has a direct impact on the size of the discount.

Some features when working with discount bills

• The bank will repay the value of the bill clearly at its face value

• During the purchase of a discount bill, the bank concludes an agreement. The contract must contain the following clauses:

1. - The face value of the bill.
2. - The selling price of the bill.
3. - Maturity of the bill.

• When buying, the bill holder needs to transfer the payment for the discount bill to the bank (the face value and the sale price are different).

• After the client has paid the bill, the bank transfers the security to him. The client can either keep the discount bill with him or use it to pay for the services of counterparties.

• The client who has received the bill can use it as a means of paying payments. In this case, you need to understand what is taken into account.

• A bill of exchange can be transferred to several holders. The last holder of the bill must present the security to the bank when it matures.

A bank discount bill is an almost universal tool that allows you to leave the amount under, make payments with counterparties, or simply use it in settlements.

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