How to get an interest-free loan from the founder of an organization

Relations that arise in the provision of a loan are regulated by Chapter 42 of the Civil Code of the Russian Federation. In accordance with Article 807 of the Civil Code of the Russian Federation, a loan agreement means that one party (the lender) transfers funds or other property into the ownership of the other party (the borrower). The borrower undertakes to return to the lender after a specified period of time in full, if it is cash, and if other property, then in full and in the amount of the property that was transferred under the agreement.

Typical accounting entries for loans

The organization can issue itself or receive borrowed funds.
According to the terms of loans, short-term and long-term are distinguished. Another nuance that affects accounting is whether the loan is provided without payment for the use of funds (interest-free) or whether interest must be paid (interest-bearing). In this article we will look at examples of postings for loans issued and received. A legal entity, individual entrepreneur and individual can receive a loan. In turn, the organization can temporarily issue funds and property for use, both to other companies and to individuals (its employees, founders, strangers).

Accounting for borrowed funds

Each organization has the right to provide a loan to another organization; entries reflecting borrowed funds for individuals and legal entities have a number of differences. First of all, the condition is taken into account whether the loan provided is interest-bearing or is it issued without interest.

The provision of a loan is regulated; the entries are given in the article by the Civil and Tax Codes of the Russian Federation, 402-FZ of December 6, 2011 “On Accounting” and PBU 19/02.

According to the current civil legislation, the loan agreement (postings - below) is drawn up in such a way that the lender provides the borrower with tangible or intangible assets, united by generic characteristics, under the conditions of mandatory return of the funds received (clause 1 of Article 807 of the Civil Code of the Russian Federation).

The operation of issuing a loan (posting) is documented with appropriate primary accounting documents. The type of primary documentation depends on the type of assets loaned (clause 1 of Article 9 402-FZ).

Loans issued, transactions for which are formed as part of financial investments, must meet the following requirements (clause.

Postings for obtaining a loan

The period for issuing short-term loans does not exceed 1 year. When an organization receives funds from a credit institution, founder, etc. they are accounted for in account 66. The loan can be received in cash, by transfer to an account, or in foreign currency. The following entries will be made accordingly:

• Debit 50 (51, 52) Credit 66 - entries for receiving a loan.

When repaying the debt, the posting is reversed:

• Debit 66 Credit 50 (51.52).

The payment amount and frequency are specified in the terms of the contract.

When a company incurs additional costs when obtaining a loan, they are recorded in 91 accounts:

• Debit 91.2 Credit 66.

Long-term loans are provided for a period of more than a year. Accounting account – 67. The loan can be accounted for in this account, or after the repayment period becomes less than 12 months, transfer it to account 66:

• Debit 67 Credit 66.

Example of loan receipt transactions:

The organization received two loans: one for 6 months in the amount of 150,000 rubles, and the second for 36 months in the amount of 680,000 rubles. When applying for a long-term loan, the lawyer’s services were paid - 5,000 rubles.

Postings:

We receive an interest-free loan

Regardless of the type of loan (interest-bearing or interest-free), payments under the loan agreement with the borrower are recorded in the accounts (Order of the Ministry of Finance dated October 31, 2000 No. 94n):

• 66 “Settlements for short-term loans and borrowings”;
• 67 “Calculations for long-term loans and borrowings.”

Account 66 is used if the loan is received for a period of up to 12 months inclusive, and account 67 is used if the loan is granted for a period of more than a year.

An organization usually receives an interest-free loan from its founders. However, the type of lender does not affect the accounting procedure for settlements on an interest-free loan.

Let's imagine typical transactions for receiving and repaying an interest-free loan.

Accounting for loans from the lender - entries for issuing loans

If a company issues a loan to another organization, then the transactions will be as follows:

• Debit 58 Credit 51 (50, 52, 40 ...) – entry for the loan issued.

As can be seen from the posting, a loan can be provided not only in the form of a sum of money, but also in the form of property (materials, fixed assets, etc.). The amount that will be taken into account in this case is the value of goods/materials, etc.

When issuing an interest-free loan to a legal entity, the amount is taken into account in the debit of account 76 and the credit of the account for issuing funds or property (50, 51,10, 40, etc.).

Loan repayment is documented by posting:

• Debit 51 (50, 40...) Credit 58 (76).

Regarding the taxation of loans with VAT, there are two opposing points of view. The first is based on the fact that there is a transfer of ownership, which is an implementation (Article 39 of the Tax Code of the Russian Federation). Sales are subject to VAT. The opposite point of view: when receiving and returning a loan in the form of goods, there is no object of VAT taxation.

Entries for VAT accounting on loans in kind:

• Debit 91.2 Credit 68 VAT – when issuing a loan
• Debit 19 Credit 58 (76) – accounting for input VAT when repaying the loan.

The issuance of a loan to an employee of an organization is documented by posting:

• Debit 73 Credit 50 (51).

The return is processed by return posting.

Example:

The organization issued an interest-free loan to a legal entity in the amount of 320,000 rubles.

Postings for issuing a loan:

Loans issued transactions

I.I. Petrov received a loan at 10% per annum, A.A. Lebedev - at 5%. The refinancing rate of the Central Bank of the Russian Federation is 12% per annum.

First, the organization’s accountant needs to determine how much 3/4 of the refinancing rate of the Central Bank of the Russian Federation will be. This figure is 9% (12% x 3/4).

Next, we compare the resulting figure with the interest on loans issued.

In Golubev I.I.

no material benefit arises, since he pays 10% under the loan agreement, that is, more than 3/4 of the refinancing rate.

The interest rate on the loan provided to A.A. Lebedeva is below 3/4 of the refinancing rate of the Central Bank of the Russian Federation. Therefore, it is necessary to determine the amount of material benefit.

The amount of interest under the agreement amounted to 410.96 rubles. (RUB 50,000 x 5% / 365 days x 60 days).

The amount of interest based on 3/4 of the refinancing rate is equal to 739.73 rubles. (RUB 50,000 x 9% / 365 days x 60 days).

The amount of material benefit is 328.77 rubles. (739.73 - 410.96).

Based on the statement of Lebedeva A.A. the organization represents its interests in relations with the budget, being an authorized representative. The amount of personal income tax that the organization will withhold and transfer to the budget amounted to 115 rubles. (RUB 328.77 x 35%).

A.E. Krasotkina

Journal expert

"Salary:

Accounting

and taxation"

Accounting for interest on loans

Expenses for paying interest on loans are recorded as other expenses in account 91. In tax accounting, they are written off every month, regardless of their payment according to the terms of the agreement.

By posting Debit 66 (67) Credit 51, interest on loans is paid, and by recording Debit 91.2 Credit 66 (67), they are taken into account as expenses.

For organizations that provide loans, interest is taken into account in other income: Debit 76 Credit 51 (50). Receipt: Debit 50 (51) Credit 76.

Example:

The organization received a loan in the amount of 120,000 rubles, which is taxed at a rate of 10% per annum. For the first month of using borrowed funds (17 days), the amount of interest amounted to 567 rubles, for the second month 1000 rubles, for the third (12 days) 400 rubles, after which the loan was repaid.

Postings:

Personal income tax

When an employee receives a loan from an organization, he may receive material benefits from savings on interest, which is subject to personal income tax in a special manner. If the amount of interest is expressed in rubles, then the material benefit is defined as the excess of the amount of interest calculated from 3/4 of the current refinancing rate of the Central Bank of the Russian Federation established on the date of receipt of the loan over the amount of interest calculated based on the terms of the agreement.

The calculated material benefit is taxed at a rate of 35% (clause 2 of Article 224 of the Tax Code of the Russian Federation) except for cases where the loan is actually spent by the employee:

• for new construction on the territory of the Russian Federation;
• for the acquisition of a residential building, apartment or share(s) in them on the territory of the Russian Federation.

When confirming targeted expenses with relevant documents, material benefits are taxed at a rate of 13%.

The issue of documentary confirmation of the intended use of borrowed funds is considered in Letter of the Federal Tax Service of Russia dated December 24, 2004 N 04-3-01/928: documents confirming the intended use by the taxpayer of borrowed funds received after January 1, 2005 may be, firstly, the the agreement on the basis of which the taxpayer received borrowed funds, as well as those documents that the taxpayer must submit to confirm his right to receive a property tax deduction provided for in paragraphs.

2 p. 1 art. 220 of the Code in connection with new construction or acquisition on the territory of the Russian Federation of a residential building, apartment or share(s) in them.

Documents confirming the right to a property tax deduction, in particular, are:

during the construction or acquisition of a residential building (including unfinished construction) or a share(s) in it - documents confirming ownership of the residential building or share(s) in it;

when purchasing an apartment, share(s) in it or rights to an apartment in a house under construction - an agreement on the acquisition of an apartment, share(s) in it or rights to an apartment in a house under construction, an act of transfer of the apartment (share(s) in it) to the taxpayer or documents confirming ownership of the apartment or share(s) in it;

payment documents drawn up in the prescribed manner and confirming the fact of payment of funds by the taxpayer for expenses incurred (receipts for receipt orders, bank statements on the transfer of funds from the buyer’s account to the seller’s account, sales and cash receipts, acts on the purchase of materials from individuals indicating they contain the address and passport details of the seller and other documents).

The tax base when receiving a material benefit is formed by the taxpayer on the date of actual payment of interest. However, the organization is not a tax agent. She can become an authorized representative of the taxpayer if he issues a notarized power of attorney for her (Article 29 of the Tax Code of the Russian Federation). In this case, the organization will perform the functions of a tax agent, that is, calculate and withhold the amount of tax from the taxpayer’s income and transfer it to the budget.

Example 2 . In March 2006, the organization issued loans for housing improvement to its employees I.I. Golubev and A.A. Lebedeva - 50,000 rubles each. each for a period of 60 days. Both must repay the loan and repay interest at the end of the contract.

Providing a loan to another organization - postings

Tax-tax November 16, 2021 625 When providing a loan to another organization, the postings may be different. Read about what this is connected with and what kind of accounting entries arise for the party lending funds in our material.

Conditions for issuing money in debt, affecting the accounting of transactions on this debt

Providing a loan to a legal entity from a legal entity at interest

An interest-free loan was issued - how to reflect this in transactions

Results

Loan and interest forgiveness: accounting entries

The parent organization forgave its daughter the obligation to repay the loan and interest. Will the subsidiary have taxable income, and the founder - an expense? What transactions are used to record transactions in the accounting records of the founder and subsidiary?

The most common way to redistribute money in a group of companies is to forgive debt obligations. Let's consider what entries both parties to the transaction must make if the main founder has released the company from repaying the loan and interest.

Conditions for issuing money in debt, affecting the accounting of transactions on this debt

Borrowing operations between legal entities other than credit institutions are not uncommon. In a simpler way than in a bank (without collecting a large number of documents), they allow you to obtain the necessary funds for the required period, and the interest rate may be lower than that set by the bank for the loan (up to its absence). Another positive aspect is that the recipient of the loan does not have to regularly report to his lender about his current financial situation, as is the case when receiving a loan.

Transactions for the provision of a loan to a legal entity and transactions for calculating interest on it, if they are provided for in the borrowing agreement, from the transferring party are directly dependent on two conditions:

1. Will interest be accrued for the use of borrowed funds, or have the parties agreed that there will be no interest?
2. Is the issuance of loans included in the list of its usual types of activities or such operations take place occasionally.

The first of the conditions determines the very essence of the debt arising from the receiving party to the lender: whether it turns out to be income-generating or not. That is, it should be considered a financial investment (placement of funds with the aim of extracting financial benefits from this process) or regarded simply as a receivable.

The second condition determines in which transactions the organization’s loan from the organization will be reflected when calculating interest (i.e., income on it).

Providing a loan to a legal entity from a legal entity at interest

In accounting entries, the issuance of a loan to a legal entity at interest will be reflected with the appearance in the debit part of account 58, one of the subaccounts of which is allocated by the Chart of Accounts of the Accounting (approved by order of the Ministry of Finance of the Russian Federation dated October 31, 2000 No. 94n) to reflect the funds issued as a loan. Analytics on it are organized by recipients of borrowings and each of the concluded agreements. Debts secured by bills of exchange should be reflected separately.

In the credit part of the transaction, a cash account will appear corresponding to its type:

• 51 - for non-cash transfers in rubles;
• 52 - when transferring funds in foreign currency.

Thus, the entry for accounting for a loan issued with interest will look like: Dt 58 Kt 51 (52).

Interest accrued monthly on the loan is not shown on account 58. Another account is intended for their accounting - 76, the debit of which will record the amount of income calculated at the rate stipulated by the agreement. The linking of entries for accounting for a loan issued by an organization and entries for reflecting interest accrued on it to different accounts is due to the different nature of the debt arising: on account 58 this is the amount of income-generating investments, and on account 76 - current settlements on payments associated with these investments.

In the credit part of the record reflecting the accrual of interest, a financial result account will appear:

• 90, if the issuance of loans in the accounting policy of a legal entity is designated as one of its usual types of activities;
• 91, if the provision of borrowed funds is not one of the usual activities.

That is, the fact of accrual of interest will be recorded as Dt 76 Kt 91 (90). The receipt of payment for them will be reflected by the entry Dt 51 (52) Kt 76.

When repaying the principal amount of the loan, a posting will occur Dt 51 (52) Kt 58.

An interest-free loan was issued - how to reflect this in transactions

However, a loan issued in cash may also be interest-free (Articles 809, 810 of the Civil Code of the Russian Federation). In such a situation, it loses the main feature (the ability to generate income), which allows it to be included in financial investments. How to show the borrower's debt in this case? It should be reflected as a regular debt of the counterparty for settlements not related to sales to him, i.e. using account 76.

Depending on whether the transfer of funds issued as a loan is made in rubles or in foreign currency, the entry - a loan was issued to another organization - without interest will take the form Dt 76 Kt 51 or Dt 76 Kt 52.

Since accrual of income is not provided, records of transactions for recording interest and for their payment will not appear. That is, until the debt is repaid, its amount will be listed in the debit of account 76. The return will be reflected by the reverse entry to the one with which the debt was registered: Dt 51 (52) Kt 76.

Thus, in a situation where another organization has been issued an interest-free loan, the entries for it will only reflect its occurrence in accounting and write-off when the funds are returned.

Accounting for loans received by the organization from employees and issued to them

In the process of economic activity, organizations attract borrowed funds. Their source is often credit structures, business partners, and sometimes their own employees. By receiving an interest-bearing loan from an employee, the organization pays him income.

On the other hand, employees often receive a loan from the organization to pay for training, purchase an apartment, goods and other purposes. Depending on the amount of interest and the targeted nature of the loan, the employee may receive material benefits from savings on interest for the use of borrowed funds, subject to personal income tax at an increased rate.

The article discusses the accounting issues of loans issued in cash and interest, as well as the taxation of the latter with personal income tax and unified social tax.

To receive a loan from an employee and issue borrowed funds to him, the organization enters into a loan agreement with him. Civil legal regulation of the relations arising in this case is carried out in § 1 “Loan” Ch. 42 “Loan and Credit” of the Civil Code of the Russian Federation. According to Art. 807 of the Civil Code of the Russian Federation, under a loan agreement, the lender transfers ownership of money or other things determined by generic characteristics to the borrower, who undertakes to return the same amount (loan amount) or an equal number of other things received by him of the same kind and quality.

Results

The provision of funds in debt by agreement between legal entities can be carried out both on the terms of payment of interest for this, and without additional payments. For the lender, the loan in the first case takes on the character of a financial investment (i.e., it generates income), and in the second it is simply a receivable. Accordingly, the amount of funds issued as a loan must be taken into account in account either 58 or 76, reflecting this by posting either Dt 58 Kt 51 (52) or Dt 76 Kt 51 (52). Postings for interest accrued on the loan reflected in account 58 will be linked to account 76: Dt 76 Kt 91 (90) - accrual; Dt 51 (52) Kt 76 - payment.

Accounting for issued and received interest-free loans from individuals

Accounting. Taxes. Audit On the topic Read all materials (127) on the topic “Interest-free loan (loan)” subscribe. There is an update (+103), including:

• Personal income tax from interest savings has a chance to be seen in the tax notice
• About personal income tax and benefits from savings on interest on an interest-free loan provided to an employee

February 09, 2010 16:09 E-mail Archive GARANT Company

How is accounting carried out for issued and received interest-free loans from individuals who are not employees of the organization?

Relations under the loan agreement are regulated by Chapter 42 “Loan and Credit” of the Civil Code of the Russian Federation.

In accordance with paragraph 1 of Art. 807 of the Civil Code of the Russian Federation, under a money loan agreement, one party (the lender) transfers money into the ownership of the other party (borrower), and the borrower undertakes to return the same amount of money (loan amount) to the lender. The loan agreement is considered concluded from the moment the money is transferred.

According to paragraphs. 1 clause 1 art. 161 of the Civil Code of the Russian Federation, transactions of legal entities between themselves and with citizens must be concluded in writing.

In accordance with paragraph 1 of Art. 162 of the Civil Code of the Russian Federation, failure to comply with the simple written form of a transaction deprives the parties of the right in the event of a dispute to refer to witness testimony to confirm the transaction and its terms, but does not deprive them of the right to provide written and other evidence. Therefore, a written loan agreement should be concluded between an individual and an organization.

The norm enshrined in Art. 809 of the Civil Code of the Russian Federation, the loan agreement is compensated, which is expressed in the payment by the borrower of interest on the loan amount. The condition that the contract is free of charge must be specified in the text of the contract itself.

Therefore, if the agreement does not contain a reference to the type of loan - interest-free or interest-bearing, then the loan will automatically be considered interest-bearing. Consequently, the lender will have to charge the borrower interest at the refinancing rate.

Based on Art. 814 of the Civil Code of the Russian Federation, a loan agreement can be concluded with the condition that the funds received are used for certain purposes (for example, for the purchase of fixed assets). In this case, the borrower is obliged to ensure that the lender can control the intended use of the loan amount.

At the same time, establishing in the agreement a specific purpose for using the loan is not a mandatory condition for the parties. The agreement may also provide for a broader use of funds received (for example, replenishment of working capital).

In addition, the agreement can provide for other terms of the relationship that arise between the parties to the loan agreement (for example, the procedure for repaying the loan, repaying the debt in parts, etc.)

1. Loans received

From January 1, 2009, the features of accounting for expenses associated with obtaining loans and credits are determined by the new PBU 15/2008 “Accounting for expenses on loans and credits,” approved by Order of the Ministry of Finance of Russia dated October 6, 2008 N 107n.

According to clause 2 of PBU 15/2008, the principal amount of the obligation for the loan received is reflected in the accounting records of the borrowing organization as accounts payable in accordance with the terms of the loan agreement in the amount specified in the agreement. And the repayment of the principal amount of the obligation on the loan received is reflected by the borrower organization as a reduction (repayment) of accounts payable (clause 5 of PBU 15/2008).

According to the Chart of Accounts, approved by Order of the Ministry of Finance of Russia dated October 31, 2000 N 94n (hereinafter referred to as the Chart of Accounts), settlements under short-term loan agreements (for a period of 12 months or less) received by the organization are reflected in account 66 “Settlements on short-term loans and loans”, for settlements on long-term loans, account 67 “Settlements on long-term loans and borrowings” is intended. It does not matter from whom the funds were taken - from another organization, an employee or a third-party individual. At the same time, analytical accounting of short-term and long-term credits and borrowings is carried out by type of credits and loans, credit institutions and other lenders who provided them.

When you receive a loan, you must make the following entries:

Debit 50 (51) Credit 66 (67) - a loan was received from an individual.

At the time of debt repayment:

Debit 66 (67) Credit 50 (51) - partial or full repayment of debt in accordance with the terms of the agreement.

For your information:

If an individual provides funds to a legal entity under an interest-free loan agreement, then the material benefit determined in accordance with Art. 212 of the Tax Code of the Russian Federation does not arise for an individual.

Funds received by an organization under a loan agreement are not taken into account either for profit tax purposes or for VAT purposes on the following grounds.

An individual who is not an individual entrepreneur does not become a VAT payer. Therefore, the individual providing the loan (reimbursable or gratuitous) does not calculate VAT. The organization in this case, on the basis of the provisions of Art. 161 of the Tax Code of the Russian Federation is not a tax agent and also does not calculate VAT.

According to paragraphs. 10 p. 1 art. 251 of the Tax Code of the Russian Federation, when calculating income tax, income in the form of funds or other property received under credit or loan agreements (other similar funds or other property, regardless of the method of registration of borrowings, including securities under debt obligations), as well as funds or other property received to repay such borrowings.

The return of an interest-free loan is not reflected by the organization as part of the expenses taken into account when taxing profits, in accordance with clause 12 of Art. 270 Tax Code of the Russian Federation.

Saving on interest under interest-free loan agreements does not entail the emergence of an object of taxation for profit tax for the borrower (letters of the Ministry of Finance of Russia dated 03/14/2007 N 03-02-07/2-44, dated 02/20/2006 N 03-03-04/1/ 128).

2. Loans issued

In accordance with the Chart of Accounts, amounts of cash and other loans provided by the organization to individuals who are not employees of the organization should be reflected in account 76 “Settlements with various debtors and creditors”, subaccount “Settlements on loans provided”.

Operations for issuing and repaying a loan will be reflected in the following transactions:

Debit 76 Credit 50 (51) - reflects the issuance of a loan to an individual (basis - loan agreement);

Debit 50 (51) Credit 76 - reflects the repayment of the loan (part of the loan) in accordance with the terms of the agreement.

Let us note that the amount of material benefit received by an individual from savings on interest for the use of borrowed funds received from an organization is not subject to reflection in the accounting accounts of the lending organization. Let's explain why.

In accordance with paragraph 5 of Art. 8 of the Federal Law of November 21, 1996 N 129-FZ “On Accounting” (hereinafter referred to as Law N 129-FZ), all business transactions are subject to timely registration in accounting accounts without any omissions or exceptions.

In this case, a business transaction is considered an event that characterizes individual business actions (facts) that cause changes in the composition of property (for example, the outflow of funds as a result of a transfer from the organization’s current account to the employee’s account) and liabilities, their placement and the sources of their formation.

A business transaction is reflected in accounting by an accounting entry indicating the debited and credited account and the amount of the transaction.

Thus, only a certain operation can be reflected on the relevant accounting accounts, as a result of which, first of all, a quantitative change in the composition of the organization’s property and liabilities will occur.

In the situation under consideration, the calculation of the material benefit of an individual borrower does not entail any changes in the composition of the property or obligations of the lending organization, except for the obligation of the tax agent, which consists in the need to calculate, withhold and pay to the budget the amount of personal income tax on the income generated by the borrower .

Moreover, the calculation of the amount of material benefit and the amount of tax subject to withholding should be documented in an accounting certificate in accordance with clause 2 of Art. 9 of Law No. 129-FZ.

Thus, for accounting purposes, a business transaction is not the calculation of the amount of material benefit, but the calculation of the amount of personal income tax to be withheld from the borrower.

It should be taken into account that material benefit is a separate type of income of an individual, which recognizes economic benefit in monetary or in-kind form, taken into account if it can be assessed and to the extent that such benefit can be assessed. In the case under consideration, income is associated with savings on interest for the use of borrowed funds and is determined in accordance with Art. 212 of the Tax Code of the Russian Federation.

Since the organization does not have the ability to withhold personal income tax from individuals who are not its employees, it should be guided by clause 5 of Art. 226 Tax Code of the Russian Federation. According to this paragraph, if it is impossible to withhold the calculated amount of tax from the taxpayer, the tax agent is obliged, no later than one month from the end of the tax period in which the relevant circumstances arose, to notify the taxpayer and the tax authority at the place of his registration in writing about the impossibility of withholding the tax and the amount of tax.

The form of notification of the impossibility of withholding tax and the amount of tax and the procedure for submitting it to the tax authority are approved by the federal executive body authorized for control and supervision in the field of taxes and fees.

Today, by order of the Federal Tax Service dated October 13, 2006 N SAE-3-04 / [email protected], tax agents are recommended to report the impossibility of withholding tax in Form N 2-NDFL.

Answer prepared by: Expert of the Legal Consulting Service GARANT Member of the Chamber of Tax Consultants Ananyeva Larisa

The answer was checked by: Reviewer of the Legal Consulting Service GARANT auditor Vyacheslav Gornostaev

January 15, 2010

The material was prepared on the basis of individual written consultation provided as part of the Legal Consulting service. For detailed information about the service, contact your service manager.

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Founder's postings

On the date of loan issuance, March 20, the accountant of Jupiter LLC will make the following entry:

DEBIT 58 subaccount “Granted loans” CREDIT 51

• 300,000 rub. — reflects the amount of the loan provided.

The interest that the lender must receive is recognized as other income in accounting. They must be reflected monthly on the last day of the reporting month. And also on the loan repayment date. This procedure follows from paragraphs 7, 10.1, 16 of PBU 9/99.

On March 31, 2014, the accountant of Jupiter LLC reflected the following transaction in accounting:

DEBIT 76 subaccount “Interest payments” CREDIT 91 subaccount “Other income”

• RUB 813.70 (RUB 300,000 x 9%: 365 days x 11 days) - reflects the borrower’s debt to pay interest on the loan.

Note! In accounting, income in the form of interest on loans issued must be reflected on the last day of each month.

On April 30, May 31 and June 20, the accountant will reflect the same transactions. But the amount of interest for April will be equal to 2219.18 rubles, for May - 2293.15 rubles, and for June - 1479.45 rubles.

On the date of debt forgiveness, June 20, the accountant made the following entries:

DEBIT 91 subaccount “Other expenses” CREDIT 58 subaccount “Loans provided”

• 300,000 rub. — the amount of the forgiven debt to repay the principal amount of the loan is recognized as part of other expenses;

DEBIT 91 subaccount “Other expenses” CREDIT 76 subaccount “Interest payments”

• 6805.48 rub. (813.70 + 2219.18 + 2293.15 + 1479.45) - the amount of the forgiven debt to pay interest on the loan is recognized as part of other expenses.

Since the amount of the forgiven debt along with interest is not taken into account in expenses when calculating income tax, a permanent difference and a permanent tax liability arise in accounting (clauses 4, 7 of PBU 18/02):

DEBIT 99 subaccount “Fixed tax liabilities” CREDIT 68 subaccount “Calculations for income tax”

• RUB 61,361.10 ((RUB 300,000 RUB 6,805.48) x 20%) - reflects a permanent tax liability.

The company took into account the amount of interest as part of non-operating income. After the debt is forgiven, Jupiter LLC will not have to recalculate taxes.

June 2014

Question: Are there tax risks when applying for an interest-free loan between legal entities? What entries need to be made in accounting if an interest-free long-term loan is issued?

Answer: Accounting To reflect the issued interest-free loan, is it correct to use account 76 “Settlements with various debtors and creditors”, opening a separate sub-account for it, for example, “Provided interest-free loans” according to the chart of accounts approved by order of the Ministry of Finance of the Russian Federation dated October 31, 2000? 94n.

In the reporting, these long-term receivables are reflected in line 230 “Accounts receivable (payments for which are expected more than 12 months after the reporting date)” of the balance sheet in accordance with clause 73 of the Regulations on Accounting and Accounting Reports in the Russian Federation, approved.