What is currency revaluation and what are its consequences?

Types of securities In accounting, for the purposes of revaluation, securities are divided into: - financial investments for which the current market value can be determined (securities listed (admitted for circulation) on the organized securities market); — financial investments for which the current market value is not determined (securities that are not quoted (not admitted to circulation) on the organized securities market). Depending on what type of security the security is, the rules for current revaluation and the reflection of its results will be different (revaluation (increase in value), markdown (decrease in value) or the formation of an impairment reserve). This procedure follows from paragraphs 18–22 and section VI of PBU 19/02.

Quoted securities Quoted securities are accepted for accounting at historical cost.

Rules for accounting for shares in accounting (nuances)

If, as of the reporting date, the organizer of trading on the securities market does not calculate the market price of securities in the prescribed manner, then for the purposes of financial statements as of that date, it is advisable to take the latest market price at the time of calculation as the current market value of these securities. The procedure for calculating the market price of issue-grade securities and investment shares of mutual investment funds admitted for circulation through trade organizers, and establishing the maximum limit for market price fluctuations, is established in Resolution of the Federal Securities Commission of Russia dated 01.01.2001 N 03-52/ps.

Revaluation and “transfer” of shares

The provisions of the order include financial investments for which their current market value is not determined. The current market value of securities, according to paragraph 13 of PBU 19/02, means their market price, calculated in the prescribed manner by the organizer of trading on the securities market. When determining the current market value of financial investments in accounting and financial statements, information on the market price of financial investments not only of Russian organizers of trading on the securities market, but also of foreign organized markets or organizers of trade that have the appropriate license from a national authorized body (Letter Ministry of Finance of the Russian Federation dated May 15, 2003 N 16-00-14/162).

How does currency revaluation affect profitability?

Taking into account the currency revaluation rule is necessary if you want to keep the profitability of your portfolio under control. In most cases, this significantly reduces the profitability of the investment. The diagram of the influence of this factor on the tax amount is shown below.

This hits especially hard for those who plan to spend capital earned on the stock exchange in dollars rather than rubles. For example, you bought a stock for $100 and when it went up by $10, you sold it. If the American currency increased from 60 to 78 rubles during this time, then in ruble equivalent you owe the Federal Tax Service not $1.3, which is 13% of actual income, but $4.3. The amount is determined by the following formula:

0,13 ( 110*78 – 100*60 ) / 78

As was already shown in the previous section, the tax that you will have to pay on the income received from a foreign currency asset can be dramatically reduced. To do this, you will have to buy not corporate securities, but Eurobonds of the Ministry of Finance. However, not every investor can invest in such bonds directly. This is due to their large denomination of tens of thousands of dollars. Only 2 government Eurobonds are available to the average Russian.

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Another way to avoid the costs associated with currency revaluation is to hold securities for more than three years. In this case, you will receive a tax deduction of up to 3 million rubles for each year of ownership of the instrument. It must be remembered that it is available only to those who trade through Russian brokers. In addition, this option is not suitable for those who seek to maximize profits by selling assets when prices rise or when the ruble falls, and then reopen the position after a correction.

Therefore, the best way to save on currency revaluation would be to open an individual investment account of the second type. This makes it possible to exempt from taxation all profits received from transactions with securities.

You can suffer from revaluation even if you invest exclusively in ruble securities. This is because companies calculate their paper profit or loss each year. For example, one of the currency hedging instruments is preferred shares of Surgutneftegaz. However, this issuer is expected to pay dividends of only RUB 1.8 for 2021. This is solely due to the fact that the dollar weakened towards the end of 2021, and not due to operating losses.

This example shows how you can save on currency revaluation. However, this can only be done by those who are interested in receiving income in dollars. In this case, it is better to close positions at the moment when the ruble has strengthened. This will reduce the tax base.

Accounting and tax accounting for the revaluation and sale of shares traded on the securities market

Check for impairment At least once a year (as of December 31 of the current year) in accounting, check for impairment of securities (i.e., for current liquidity - saleability) if there are signs of a decrease in their price. Such signs, in particular, include: - the issuer is declared bankrupt or has signs of bankruptcy; — making a significant number of transactions in the securities market with similar securities at a price significantly lower than their book value; — absence or significant reduction in income payments on securities (for example, dividends, interest, coupons, etc.) with a high probability of their further reduction. To conduct the audit, determine the estimated value of a particular security and compare it with the book value of the security.

Revaluation theory

For example, add an item to the accounting policy with the following content: “...Financial investments of an organization that are subject to revaluation for the purpose of reflecting income tax calculations in accounting are divided into the following groups: a) financial investments acquired by the company for the purpose of generating income from their retention ( in the form of dividends, etc.) and the disposal of which is not expected. The revaluation of this group of assets is recognized as a permanent difference and is reflected in accounting as a permanent tax liability; b) financial investments acquired by the company with the aim of generating income from an increase in their value, and other short-term financial investments.

Legislative framework of the Russian Federation

not valid Edition from 12.12.2008

detailed information

“REGULATIONS ON THE RULES OF ACCOUNTING IN CREDIT INSTITUTIONS LOCATED IN THE TERRITORY OF THE RUSSIAN FEDERATION” (approved by the Central Bank of the Russian Federation on March 26, 2007 N 302-P) (Rules, Appendices 1 - 8, 10 - 14) (as amended on 12.12.2 008)

Chapter 5. Accounting for the valuation (revaluation) of securities “measured at fair value through profit or loss” and “available for sale”

5.1. Accounting for the revaluation of securities is carried out in the currency of the Russian Federation according to state registration numbers or identification numbers of issues of equity securities or according to international securities identification codes (ISIN). For securities that are not issued securities or do not have an international security identification code (ISIN), revaluation is carried out by issuer.

5.2. Positive revaluation is defined as the excess of the current (fair) value of securities of a given issue (issuer) over their book value.

Negative revaluation is defined as the excess of the book value of securities of a given issue (issuer) over their current (fair) value.

Book value means the value of securities determined in accordance with clause 1.6 of this Procedure.

For securities accounted for in foreign currency, the carrying amount is the ruble equivalent of the value at the official exchange rate on the date of revaluation.

5.3. On the last business day of the month, all securities “measured at fair value through profit or loss”, as well as securities “available for sale”, the current (fair) value of which can be reliably determined, are valued (revalued) at their current (fair) value. ) cost.

When transactions with securities of the relevant issue (issuer) are carried out within a month, all “measured at fair value through profit or loss” and “available for sale” securities of this issue (issuer) are subject to revaluation.

In the event of a significant change during the month in the current (fair) value of securities of the relevant issue (issuer), all “measured at fair value through profit or loss” and “available for sale” securities of this issue (issuer) are subject to revaluation. Materiality criteria are determined by the credit institution and established in the accounting policies.

5.4. When carrying out a revaluation in accordance with clauses 5.1 - 5.3 of this Procedure, the balance of securities that has formed at the end of the day after transactions on the acquisition and disposal of securities are reflected in the accounting records is subject to revaluation.

5.5. For securities “measured at fair value through profit or loss,” revaluation is reflected in accounting in the following order.

5.5.1. When purchasing the first securities of the corresponding issue (issuer), accounting entries are made:

a) positive revaluation

Debit - balance sheet accounts NN 50121, 50621

Credit - balance sheet account for accounting for income from the revaluation of securities;

b) negative revaluation

Debit - balance sheet account for accounting for expenses from revaluation of securities

Credit - balance sheet accounts NN50120, 50620.

5.5.2. Changes between the current (fair) value of securities and their book value during subsequent revaluations are reflected in the following accounting entries:

a) negative revaluation within positive

Debit - balance sheet account for recording income or expenses from the revaluation of securities

Credit - balance sheet accounts NN 50121, 50621;

b) positive revaluation within the negative

Debit - balance sheet accounts NN 50120, 50620

Credit - a balance sheet account for accounting for income or expenses from the revaluation of securities;

c) the amount of excess of negative (positive) revaluation over positive (negative), as well as the amount of increase in positive (negative) revaluation are reflected in accordance with subclause 5.5.1 of this paragraph.

5.6. For “available-for-sale” securities, revaluation is reflected in accounting in the following order.

5.6.1. When purchasing the first securities of the corresponding issue (issuer), accounting entries are made:

a) positive revaluation

Debit - balance sheet accounts NN 50221, 50721

Credit - balance sheet account N 10603;

b) negative revaluation

Debit - balance sheet account N 10605

Credit - balance sheet accounts NN 50220, 50720.

5.6.2. Changes between the current (fair) value of securities and their book value during subsequent revaluations are reflected in the following accounting entries:

a) negative within positive

Debit - balance sheet account N 10603

Credit - balance sheet accounts NN 50221, 50721;

b) positive revaluation within the negative

Debit - balance sheet accounts NN 50220, 50720

Credit - balance sheet account N 10605;

c) the amount of excess of positive revaluation over negative, as well as the amount of increase in positive revaluation are reflected in accordance with subclause “a” of subclause 5.6.1 of this clause;

d) the amount of excess of negative revaluation over positive, as well as the amount of increase in negative revaluation are reflected in accordance with subclause “b” of subclause 5.6.1 of this clause.

5.6.3. Upon disposal (sale) of securities, revaluation amounts attributable to the disposed (sold) securities (in accordance with the chosen method of valuation) are written off in accordance with clause 4.6 of this Procedure.

5.7. If during the month the securities “measured at fair value through profit or loss” of the corresponding issue (issuer) were completely written off from the second-tier balance sheet account, then the amounts of their revaluation are subject to mandatory write-off in the following order:

a) positive revaluation

Debit - balance sheet account for recording income or expenses from the revaluation of securities

Credit - balance sheet accounts NN 50121, 50621;

b) negative revaluation

Debit - balance sheet accounts NN 50120, 50620

Credit - a balance sheet account for recording income or expenses from the revaluation of securities.

5.8. If for “available-for-sale” securities assessed after initial recognition at current (fair) value, its further reliable determination is not possible or if there are signs of impairment, the amounts of revaluation of such securities are charged to the expense account as accounting entries specified in subclause 4.6.4 of clause 4.6 of this Procedure.

In the future, reserves for possible losses are created for investments in such securities.

Annual revaluation of other people's shares on the balance sheet of the enterprise

According to supporters of this position, when revaluing financial investments, leading to the formation of income in accounting, taxable temporary differences are formed and, accordingly, deferred tax liabilities. Upon further revaluation or disposal of the asset, the deferred tax liability is adjusted. Let's return to our example.

In this case, the accountant makes the following entries: Debit 58, Credit 91 - 1000 rubles. ((2 rubles - 1 ruble) x 1000 pcs.) - reflects the difference formed as a result of the revaluation of financial investments; Debit 91, Credit 99 - 1000 rub. — accounting profit is reflected as a result of revaluation; Debit 99, Credit 68 - 240 rub. (RUB 1,000 x 24%) - reflects the conditional income tax expense; Get the full text Debit 68, Credit 77 - 240 rub. (RUB 1,000 x 24%) - deferred tax liabilities are reflected; Debit 99, Credit 84 - 760 rub. (1000 rub.

Date: 01.04.2011 13:33Author: didal Registration: 10.08.2006Messages: 1306 As far as I understand, the question was about the possibility of increasing the value (according to accounting data) of the organization’s long-term financial investments (possibly to increase the value of net assets without payment of additional property tax), and not about increasing the authorized capital of this organization or another legal entity - the issuer of securities on the balance sheet of this very organization. In addition, I do not agree that it is impossible to convert shares into shares of the same category (type) with a higher par value using additional capital formed as a result of the revaluation of fixed assets carried out by the joint-stock company on its own initiative. In this case, you will have to pay a state fee for registering the issue of securities and the shareholders will supposedly have taxable income.

With uv. lexander Date: 03/31/2011 11:03 Author: AL1 Registration: 03/15/2010 Messages: 24 Hey, corporate people... Does anyone know anything on this issue, huh? Is it really possible that “nobody here has ever overvalued the shares?” Date: 03/31/2011 18:02 Author: didal Registration: 08/10/2006 Messages: 1306 The last time I encountered something like this was at the end of 2006. The PA hired an auditor to give an opinion (they decided to take insurance) and, of course, an appraiser. As a result, the LLC increased the book value (according to accounting data) of the shares several times in accordance with the appraiser’s report.

The difference, if my memory serves me correctly, was attributed to profit after taxation. That is, according to accounting data. However, the value of shares on the LLC’s balance sheet increased, but for tax purposes remained the same.

Consequently, transactions for the sale of shares and shares should be reflected in the following entries: D 91 K 58 - for the amount of the book value of the shares; D 62 K 91 - for the amount of the contractual value of the financial investments being sold; D 51 K 62 - for the amount of funds actually received If a reserve was previously created for the depreciation of investments in securities for the shares or shares being sold, it must also be written off. Example 2. An organization purchased shares with a total value of 100,000 rubles in August.

Which assets are subject to revaluation?

At first glance, it seems that only those investors who invest in securities of foreign companies can face currency revaluation. However, it is not. Tax is calculated in the same way on assets such as:

• ETF shares;
• BPIF units;
• Eurobonds.

Let's take a closer look at these tools. An ETF is a fund for collective investment in an underlying asset managed by a foreign company. However, despite the fact that the securities were issued by a foreign issuer, only part of them will be subject to currency revaluation.

For example, FXIT is a fund that invests in securities of American companies from the technology sector, or FXGD is a fund that makes money on rising gold prices. The nominal value of their shares is calculated on the Moscow Exchange in dollars. Even if an investor sees the cost of buying and selling in rubles in the trading terminal, this is already the result of revaluation. Moreover, some securities of the same issuer are initially quoted in our currency. For example, FXRB is a fund that invests in Eurobonds, but uses a ruble hedge.

The situation is the same with BPIFs, which are an analogue of ETFs, but managed by a Russian company. Any asset denominated in a foreign currency is subject to revaluation, even if the issuer is registered in our country. Below are two graphs showing how BPIF quotes changed during the 2021 crisis in rubles and dollars.

When selling shares, the investor receives a dollar loss. At the same time, he has a profit in rubles and, therefore, an obligation to pay tax.

Government Eurobonds issued by the Ministry of Finance are the only exception to the currency revaluation rule described in the previous section. For them, when determining the tax base, the dollar exchange rate in effect at the time of purchase of the asset is not taken into account. The calculation is made using the following formula:

NB = Tsa*Rate – Tsa1*Rate

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For example, you bought a Eurobond with a par value of $1000 for 160% of the base price and sold it for 165%. As in the previous example, the cost of the dollar was 60 and 78 rubles. respectively. Then, according to the Ministry of Finance’s securities, the tax base will be calculated using the following formula:

NB = 1650*78 – 1600*78 = 3900 rub.

This rule does not apply to Eurobonds issued by Russian companies. They are subject to currency revaluation using the same formula that is used for shares and shares. Therefore, if instead of the Ministry of Finance paper you bought a corporate bond, the tax base would be 32,700 rubles, i.e. it would be 8.4 times more.

Revaluation of securities in tax accounting

There is no need to revalue shares on the date of sale. The financial result from the sale of shares is determined by the following formula: ┌───────────── ┌────────────── ┌────── ──── ────── ┌─────────── Accounting Sales price Cost of shares Expenses profit = shares, - according to the last one - for sale (loss) established valuation (accounting value of shares in the contract) └─── ────────── └────────────── └────────────── ── └─────── ──── Tax accounting for the sale of shares Let us say right away that the sale of securities (shares) is not subject to VAT. Therefore, input VAT on expenses associated with the sale of securities is not deductible, but is included separately in expenses.

Types of securities In accounting, for the purposes of revaluation, securities are divided into : - financial investments for which the current market value can be determined (securities listed (admitted for circulation) on the organized securities market); — financial investments for which the current market value is not determined (securities that are not quoted (not admitted to circulation) on the organized securities market). Depending on what type of security the security is, the rules for current revaluation and the reflection of its results will be different (revaluation (increase in value), markdown (decrease in value) or the formation of an impairment reserve). This procedure follows from paragraphs 18–22 and section VI of PBU 19/02. Quoted securities Quoted securities are accepted for accounting at historical cost. This follows from paragraph 4 of paragraph 38, paragraph 2 of paragraph 39 of PBU 19/02, paragraph 7 of PBU 9/99, paragraph 11 of PBU 10/99 and the Instructions for the chart of accounts (accounts 59 and 91). When taxing, do not create a reserve for the depreciation of securities, regardless of the tax regime that the organization applies. This is due to the fact that when calculating income tax, such a reserve is created only by professional participants in the securities market engaged in dealer activities for the depreciation of quoted securities. Unlike most other types of property of an organization (fixed assets, inventories, etc.), the revaluation of which is carried out only in exceptional cases, PBU 19/02 provides for changes in the initial value of certain categories of financial investments.

Revaluation of securities for which the current market value is determined is carried out at the time of change in quotations on the securities market. At the same time, income received from such revaluation (positive difference) is not taken into account when determining the tax base for income tax (subclause 24, clause 1, article 251 of the Tax Code of the Russian Federation). [12] Equally, loss from the revaluation of securities (negative difference) is not accepted for tax purposes (clause 46 of Art.

270 of the Tax Code of the Russian Federation). As for the taxation of such transactions, in the situation under consideration the organization does not bring financial investments (securities) to their market value, but receives coupon (that is, fixed) or interest income. Therefore, such amounts are subject to inclusion in the tax base for income tax, regardless of the actual receipt of funds (for organizations accounting for income and expenses on an accrual basis) (clause 1 of Art.

271 of the Tax Code of the Russian Federation). Moreover, for tax purposes, such income is recognized as received and is included in the corresponding income at the end of the corresponding reporting period, regardless of the terms of the agreements (clause. After all, according to clause 2 of Article 280 of the Tax Code of the Russian Federation, upon the sale (other disposal) of a security, it is taken into account as expenses the purchase price of a security, which in this case does not exist (the security was received free of charge) (letter of the Ministry of Finance of Russia dated 06/07/2006 N 03-03-04/2/157).

Revaluation of securities In accounting, the original cost of securities may change. Securities traded on the securities market must be revalued monthly or quarterly to the current market value with the difference allocated to other income (expenses) (clause 20 of PBU 19/02).

In the financial statements, securities for which an impairment reserve has been formed are shown at their estimated value, which is equal to the difference between the book value (account 58) and the amount of the reserve (account 59). The balance of account 59 is not shown separately in the balance sheet (clause 38 of PBU 19/02). When retiring securities for which a reserve was created, the amount of the reserve is included in the organization’s other income at the end of the year or the reporting period when their disposal occurred (Debit 59 - Credit 91). For profit tax purposes, securities, including those traded on the securities market, are not subject to revaluation. Reflect the results of the revaluation as a decrease or increase in the initial (book) value of securities and other expenses or income of the organization.

To do this, reflect the difference between the new valuation of securities as of the reporting date and their previous valuation on account 58 “Financial investments in correspondence with account 91 “Other income and expenses”. Make the following entries: DEBIT 58 CREDIT 91-1 – reflects the revaluation of securities; DEBIT 91-2 CREDIT 58 – reflects the markdown (impairment) of securities. This procedure follows from paragraph 20 of PBU 19/02, paragraphs 7, 10. 5 and 16 of PBU 9/99, paragraphs 11 and 14. 4 of PBU 10/99 and the Instructions for the chart of accounts (accounts 58 and 91). When calculating taxes, do not take into account the revaluation of listed securities, regardless of the tax regime that the organization applies. For the general taxation regime, this is explained as follows. Check for impairment At least once a year (as of December 31 of the current year) in accounting, check for impairment of securities (i.e., for current liquidity - saleability) if there are signs of a decrease in their price.

Such signs, in particular, include: - the issuer is declared bankrupt or has signs of bankruptcy; — making a significant number of transactions in the securities market with similar securities at a price significantly lower than their book value; - absence or significant reduction in payments of income on securities (for example, dividends, interest, coupons, etc. This procedure follows from paragraph 22 and section VI of PBU 19/02. If the initial cost of unquoted debt securities (for example, bills or unquoted bonds) differs from their face value, the organization can attribute this difference to financial results (other income or expenses). This must be done evenly throughout the circulation period of the security, according to the income due on it, provided for when it was issued.

This procedure is provided for in paragraph 22 and section V of PBU 19/02. At the same time, make accounting entries similar to entries for the revaluation of quoted securities. In particular, an organization can use this procedure to take into account the discount on a bill or the discount on a bond. For tax purposes, adjustment of the value of debt securities towards par value according to rules similar to accounting is not provided for (letter of the Ministry of Finance of Russia dated April 8, 2005. When creating a reserve in accounting, reflect the occurrence of a permanent difference and the corresponding permanent tax liability arising due to , that during taxation such a reserve is not created.

If the amount of the reserve decreases (including from the disposal of securities or an increase in their estimated value), reflect the occurrence of a permanent difference and the corresponding permanent tax asset. Form it through financial results. That is, include its amount in other expenses of the organization.

The amount of the provision may change in cases where: - during subsequent impairment tests, the estimated price of the security changes (decreases or increases); — subsequent audits revealed that the securities no longer meet the criteria for impairment; — a depreciating security is retired.

Quoted securities are accepted for accounting at their original cost. However, at the end of each year, the value of quoted shares must be reflected in accounting and financial statements at the current market value. To do this, you should adjust their assessment as of the previous reporting date, decreasing or increasing it.

Revaluations can be done monthly or quarterly. The frequency of revaluation is fixed in the accounting policy of the organization (clause 7 of PBU 1/2008). If the original cost of unquoted debt securities (for example, bills or unquoted bonds) differs from their par value, the entity may charge the difference to financial results (other income or expenses). This must be done evenly during the circulation period of the security, according to the income due on it, provided for when it was issued. This procedure is provided for in paragraph 22 and section V of PBU 19/02. If the amount of the reserve decreases (including from the disposal of securities or an increase in their estimated value), reflect the occurrence of a permanent difference and the corresponding permanent tax asset. They arise due to the fact that the amount of the reserve created for the depreciation of these financial investments in accounting increases the organization’s income, but is not taken into account when calculating income tax (subclause 25, clause 1, art.

251 of the Tax Code of the Russian Federation). The decision to revaluate securities is formalized by order of the manager. Reflect the results of the revaluation of securities in an act drawn up in any form. Confirm the conclusions about revaluation, depreciation, and depreciation of securities made in the report with documents (for example, reports on securities quotations based on trading results on the date of revaluation, the conclusion of an independent appraiser, etc.).

This procedure follows from Article 9 of the Law of December 6, 2011 No. 402-FZ. To conduct the audit, determine the estimated value of a particular security and compare it with the book value of the security. Select (develop) the methodology by which the settlement price is determined yourself and establish it in the organization’s accounting policy (clause 7 of PBU 1/2008). For example, for this you can attract an independent appraiser or (for

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What is currency revaluation

The Tax Code of the Russian Federation provides that any profit from transactions with securities must be subject to personal income tax (except for the exceptions provided by law). The same applies to income received in foreign currency. However, all payments to the budget are made in rubles. Therefore, the question arises: how and at what point should a recalculation be made?

The answer to this is provided by the rules of currency revaluation. According to them, the tax base is determined by the following formula:

NB = Tsa*Rate – Tsa1*Rate1, where

NB – the amount from which tax will be withheld;

Tsa and Tsa1 – the price of the asset at the time of sale and purchase;

Rate and Rate1 – the value of the currency in which the asset is denominated on the day the transaction is concluded (determined according to the official exchange rate of the Central Bank).

There is one exception, more about it in the next section.

The currency revaluation rule means that even if a loss is recorded, the investor may have to pay tax. Let's say you bought a share of an American company for $50. This happened at a time when $1 was worth 60 rubles. After the price fell, you decided to sell the asset for $40. On that day the exchange rate was 78 rubles. Substituting the numbers, we get:

NB = 40*78 – 50*60 = 120.

From these 120 rubles. you will have to pay a tax of 13%, that is, 15.6 rubles.

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