Hello, Vasily Zhdanov is here, in this article we will look at calculating future income. A frequent situation is the receipt of income that relates not to the current period of activity, but to future years. Such revenue is also subject to accounting in the current period, since the income has already been received and requires recording in the statements, and other income for the reporting period that is not credited to the profit and loss account must be disclosed separately in the financial statements. Further actions of the accountant are regulated by the Accounting Rules. Thus, future income is reflected on line 1530.
What are deferred income (line 1530)
Deferred income is income (including other income) of the enterprise in question that was received (accrued) in the reporting period, but relates to future reporting periods. As such, regulatory documents consider:
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- budget funds received by an enterprise to finance its capital or current expenses (depreciation accrued when using property purchased with budget funds is included in other income);
- the initial (market) value of non-current assets that were received free of charge, determined as of the date of their acceptance for accounting, in the part not included in other income as of the reporting date;
- the balance of budget funds that was not used at the end of the reporting period, which the enterprise received as targeted financing and was taken into account on the account. 86 (also – grants, technical assistance (assistance));
- the difference between the cost of the leased property and the total amount of payments under the lease agreement
Important! Application of account 98 since 2011 is limited to situations directly provided for by regulatory documents on accounting.
Important! Advances received by the company from customers are not included in deferred income and are not shown on account 62.
DBP accounting: account 98
Accounting for DBP is reflected in account 98 , which is passive. The opening account balance shows the total amount of income at the beginning of the analyzed period of time. The loan shows those types of income that should be attributed to future periods. The debit account turnover reflects exactly what amount was written off to other accounting accounts for a given period.
The ending balance shows the amount of unwritten off income at the end of the established interval.
In addition to advance receipts from clients, it is advisable to reflect on this account such types of income as:
- payment for rent stipulated by the contract, received in advance ahead of the deadline specified in the contract;
- subscription fee for the operation of telephone landline and mobile communications and the Internet, paid by counterparties before the onset of the periods specified in the contracts;
- property and assets that the organization has capitalized under donation documents;
- planned receipts for shortages that occurred in previous periods, but are documented in the current period.
Account 98 in the standard chart of accounts has 4 subaccounts , and accounting for all regulated subaccounts must be kept in strict analytics of a certain type of acquired benefit.
So, subaccount 1 shows payment of rent, monthly utilities, subscription fees for communications services and revenue for the transportation of goods.
Subaccount 2 shows the amounts of assets that were received by the enterprise under gift agreements. Accounting is carried out for each type of such assets and shows their market value reflected by the date of actual acceptance for accounting.
Subaccount 3 takes into account future receipts of those amounts of shortages of materials and funds that were identified in past intervals. This subaccount also shows amounts recovered during legal proceedings.
Subaccount 4 displays the amounts of the actual cost of missing or damaged goods and materials, the residual value of missing or broken fixed assets and the amount of established losses of partially damaged materials.
If a commercial enterprise on a state-targeted basis was provided with financing in the form of material assistance, grants or subsidies during the reporting period, its accounting must be reflected in subaccount 2 of account 98.
This account subsequently corresponds with account 86 “Targeted financing” . This aspect is important for subsequent reporting.
Line 1530 “Deferred income”: data, filling
Important! In general, the indicators on line 1530 as of December 31 of the previous and previous previous periods are subject to transfer from the balance sheet to the previous year.
The purpose of the article is to display information about income that was taken into account in the current period, but at the same time relates to a future period, as well as information about the balance of unspent funds of targeted funding from the budget. It can be:
- the revenue the company received from freight transportation;
- payment for subscriber communication services under contracts;
- utility payments;
- rental payments for premises temporarily or permanently unused in carrying out the main activity.
On balance sheet line 1530 “deferred income” it is necessary to reflect the credit balance of account 98 “Deferred income”. Information used when filling out this line:
- credit balance on account 98;
- credit balance of account 86 (in terms of targeted financing from the budget, as well as grants and technical assistance (assistance) as of the reporting date).
Line 1530 of the balance sheet is completed in accordance with the following formula:
The formula below is also used:
As for the “Explanations” column, it is necessary to provide instructions on the disclosure of the indicator of income for future periods. Table 9 “State aid” is indicated here, disclosing the indicators of line 1530, if:
- the enterprise receives funding from the budget in the form of subsidies;
- draws up Explanations to the balance sheet and the financial statements using the forms from the Example of the Explanations (contained in Appendix No. 3 to Order No. 66n of the Ministry of Finance of the Russian Federation).
Difficulties in recognizing costs and the algorithm for writing them off
The following expenses can be safely recognized as future expenses (since this is directly stated in the legislation):
- For preparatory work - carried out in connection with upcoming projects. They are written off as revenue under the contract is recognized (clause 16 of PBU 2/2008 “Accounting for construction contracts”, approved by order of the Ministry of Finance of Russia dated October 24, 2008 No. 116n).
- In the form of a one-time (fixed) payment - for the right obtained by the company to use the results of intellectual activity (or means of individualization). It is recognized as expenses during the period of validity of the agreement (clause 39 of PBU 14/2007 “Accounting for intangible assets”, approved by order of the Ministry of Finance of Russia dated December 27, 2007 No. 153n).
In relation to other costs, which are written off evenly, their classification as part of the BPR requires a serious analytical approach from the accountant.
The main difficulty with this classification is whether to consider incurred costs as an asset or to recognize an expense? The following algorithm can help you figure this out, helping to classify costs as an asset:
- find out whether this asset will bring economic benefits to the company in the future;
- determine the degree of its control (whether the company has the right to receive cash inflows from its use in the future, as well as limiting access to such benefits for other persons).
At the same time, the company is likely to have future economic benefits if it has the opportunity to:
- use the asset in the activities of the company;
- repay their obligation or exchange;
- distribute the asset among the owners of the company.
If costs do not meet the criteria of an asset, they are recognized as expenses.
Correct classification will help to avoid errors in the reflection of RBP in financial statements, as well as to apply the necessary method for their write-off.
To clarify this difficult task, officials of the Russian Ministry of Finance gave the following explanations (letter dated January 12, 2012 No. 07-02-06/5):
- if the costs incurred by the company comply with the conditions for recognizing a certain asset established by accounting standards, these costs are reflected in the balance sheet as part of this asset (fixed assets, intangible assets, inventories) and are written off in the manner established for writing off the value of this asset;
- in other cases, costs are reflected in the balance sheet as BPR and written off by their reasonable distribution between reporting periods in accordance with the algorithm established in the accounting policy.
Get acquainted with international approaches to asset valuation using the materials on our website:
- “IFRS No. 38 Intangible assets - application features”;
- “IFRS No. 16 Fixed assets - application features”.
Accounting for deferred income
Important! The list of accounting sub-accounts that must be opened for account 98 “Deferred Income” is open - companies have the right to open any number of clarifying sub-accounts to reflect future income.
Reflection of transactions with deferred income in accounting is as follows:
| Operation | DEBIT | CREDIT |
| Income of future periods is reflected. [An accrual of deferred income (received from the budget to finance the enterprise’s expenses)]. | 86 “Targeted financing” | 98-1 “Income received for deferred periods” |
| The cost of fixed assets received free of charge is reflected. | 08 | 98-2 “Gratuitous receipts” |
| The cost of inventories received free of charge is reflected | 10 “Materials” 41 “Products” | 98-2 “Gratuitous receipts” |
| The amount of upcoming debt receipts for shortfalls identified in previous years is reflected. | 98-3 “Upcoming debt receipts for shortfalls identified in previous years” | |
| The difference between the amount to be recovered from the guilty parties and the book value for shortages of valuables is reflected. | 98-4 “The difference between the amount to be recovered from the guilty parties and the book value for shortages of valuables” | |
| Other income (revenue) is recognized for: – fixed assets received free of charge (as depreciation is calculated); – other MC received free of charge (as sales expenses are written off to the accounts (accounting for production costs)). | 98 | 91 (90) |
| Write-off of deferred income to the financial results of the enterprise in the period to which the revenue relates: | ||
| Included in income from ordinary activities | 98.1 | 90.1 |
| Included in other income of the enterprise | 98.1 | 91.1 |
| Write-off of accrued depreciation on equipment received free of charge and its inclusion in other income | 98.2 | 91.1 |
Important! Accrued depreciation on fixed assets received free of charge is written off to the financial result of the enterprise in Credit account 91.
Where are deferred income reflected?
Special account 98, which is called “Deferred Income,” is designed to reflect all types of deferred profits. The instructions for the Chart of Accounts allow you to open a number of sub-accounts for this account, specified by DBP objects:
- “income that will be received in future accounting periods”;
- “gratuitous receipts” – gifts, sponsorship, etc.;
- “future receipts for past shortfalls identified in earlier periods”;
- “the difference between the cost of recovery according to the balance sheet and the amount payable by the guilty party”, etc.
In the balance sheet, a special line 1530 is intended to account for this type of profit.
ATTENTION! It can reflect only those incomes that are recognized by the DBP in the regulatory documents of this organization.
What accounting data is used when filling out line 1530 “Deferred income” ?
Active or passive?
Are deferred receipts an asset or a liability when reflected on the balance sheet? Line 1530 reflects the item “DBP” as a balance sheet liability, despite the fact that it takes into account income.
The reason is that this line has a direct connection with another line, also related to the liability “Retained earnings (uncovered loss)”. It records the profit that the organization “owes” to its owners. But in practice, there are often situations when the debt to the owners has not yet arisen, but the money has already arrived on the balance sheet. For example, money was received as funding from the budget. They should be classified as “cash” assets. How to balance a liability? These are not retained earnings, because the organization has not yet done anything of what they were intended for, which means they have not yet become a profit. The profit from them is only in the future, so it is appropriate to include them in the liability line “Future income”. As this money is spent, that is, expenses are recognized, the amounts from the DBP liability will be transferred in parts to the Retained Earnings liability.
We carry out accounting
To reflect the DBP, the credit of account 98 “Deferred Income” and correspondent accounts are intended for accounting for finances and settlements with counterparties.
To write off amounts of income from future periods when this very “future” occurs, the debit of this account (98) is used, as well as the correspondence of the account in which the income was recorded (90 or 91, this determines the type of receipt).
Subaccounts that define a specific DBP object also provide for the corresponding correspondence:
- “Gratuitous receipts” – 08 “Investments in non-current assets”, 86 “Targeted financing” (loan 91 “Other income and expenses”);
- “Forthcoming receipts of debt for shortfalls for past periods” - 94 “Shortfalls from loss and damage to valuables”, 73 “Settlements with personnel for other operations”, subaccount “Reimbursement of material damage” (credit 91 “Other expenses”);
- “The difference in the amount of recovery from the perpetrator and the book value” - 73 “Settlements with personnel for other operations” (credit 91 “Other expenses”).
Example of accounting for deferred income
In October 2021, First Track LLC accepted a donation of production equipment from its regular client (free of charge), the market value of which is 550,000 rubles:
| Operation | Amount (rubles) | DEBIT | CREDIT |
| Equipment received free of charge has been capitalized (it is reflected at market value) | 550 000 | 08 | 98.2 |
| Commissioning of new equipment | 550 000 | 01 | 08 |
| Depreciation on equipment (as it is used) | n | 20 (44) | 02 |
| Write-off of equipment cost (gradually) | m | 98.2 | 91.1 |
LLC “First Track” on page 1530 “Deferred income” at the end of the period (2016) will display an indicator equal to the market value of the equipment received free of charge minus the depreciation accrued on it.
Receiving free materials
Example
Alina LLC, a confectionery factory, received 800 kg of granulated sugar free of charge. The goods are capitalized at a cost of 20 rubles/kg, the total amount is 16,000 rubles. The next month, 400 kg of granulated sugar were written off for production, and in the next two months - 200 kg per month.
Assets received free of charge are included in non-operating income. In accounting they are reflected at market value determined as of the date of acceptance for accounting. Market value is determined on the basis of prices prevailing for a given type of asset as of the current date, or on the basis of an examination.
Postings
| Dt | CT | Operation description | Sum | Document |
| 10 | 98 | Sugar is capitalized at market value | 16000 | Transfer and acceptance certificate, Receipt order |
| 20 | 10 | 400 kg of sugar written off for production | 8000 | Withdrawal slip |
| 98 | 91.1 | Used sugar is written off as income for the current period | 8000 | Accounting information |
Example of filling out line 1530 “Deferred income”
Here is an example of filling out line 1530 of the balance sheet:
| Indicators by account 98 and count. 86 in terms of targeted budget financing (no other targeted financing): rubles | |
| Index | At the reporting date (31 December 2021) |
| 1 | 2 |
| 1 996 757 |
| 799 800 |
Fragment of the Balance Sheet for 2021:
| Explanations | Indicator name | Code | As of December 31, 2021 | As of December 31, 2015 | As of December 31, 2014 |
| 1 | 2 | 3 | 4 | 5 | 6 |
| 9 | revenue of the future periods | 1476 | 2645 | 2653 | – |
Solution:
| Revenue of the future periods: | |
| as of December 31, 2021 | 1,996,757 + 799,800 = 2,796,557 rubles |
| as of December 31, 2015 | 2,645,000 rubles |
| as of December 31, 2014 | 2,710,000 rubles |
We enter the data into the balance sheet:
| Explanations | Indicator name | Code | As of December 31, 2021 | As of December 31, 2015 | As of December 31, 2014 |
| 1 | 2 | 3 | 4 | 5 | 6 |
| 9 | revenue of the future periods | 1476 | 2 796 | 2 645 | 2 653 |
Postings for writing off deferred expenses
After the procedure for classifying RBP, their value is reflected in accounting and is gradually written off using the following correspondence of accounts:
- Dt 97 Kt 60 (76) - costs are taken into account as part of the RBP;
- Dt 20 (25, 26, 44) Kt 97 - partial write-off of RBP.
An important nuance in this regard is the period for writing off the RBP. If it is not specified in the contract, it is determined independently, taking into account the method of writing off the RBP fixed by the accounting policy. This method can be used:
- algorithm for uniform write-off of RBP over the time established by order of the head of the company;
- the method of writing off RBP in proportion to sales income;
- other ways to write off RBP.
Legislative and regulatory acts on the topic “Deferred income”
| Instructions for using the Chart of Accounts (approved by Order of the Ministry of Finance of Russia dated October 31, 2000 No. 94n) | About maintaining account 98 and subaccounts to it |
| Order of the Ministry of Finance of Russia dated July 2, 2010 No. 66n | On the need to reflect future income in Section V “Current liabilities” |
| Chart of accounts for accounting financial and economic activities of an enterprise | About what's on the account. 98 it is necessary to take into account future income, as well as: - gratuitous receipts, – receipts of debts for shortfalls of previous years; – detected differences between the amount to be recovered from the guilty parties and the book value of the assets that were accepted for accounting when shortages/damage were identified. |
| clause 4 of the Instructions on the reflection in accounting of transactions under a leasing agreement | On reflecting in deferred income the difference between the cost of the leased property and the total amount of payments under the leasing agreement. |
| clause 29 of the Guidelines for accounting of fixed assets | About reflection according to CT count. 98 cost of free OS received |
| clause 9 of the Accounting Regulations “Accounting for State Aid” PBU 13/2000 | On accounting for target financing as deferred income |
Account characteristics
Introduction p. 98 was due to rent recognition problems. When they were solved, the accountants realized that using the approach they had found it was possible to regulate financial income. As a result, a large number of sub-accounts emerged into which future income is allocated. This:
- Profit received for future years.
- Free receipts.
- Upcoming amounts owed for shortfalls identified in previous years.
- The difference between the amount of recovery from the perpetrators and the book price for shortages.
Let's consider them separately.
The contract does not provide for stages
If the terms of the concluded contracts do not provide for the phased delivery of work (services) and the technological cycle falls under the definition of long-term, then the income will be included in the taxable base even before the signing of the work completion certificate.
What is production with a long technological cycle? As the Ministry of Finance points out, this is a production whose start and end dates fall on different tax periods, regardless of the number of its days (Letters dated 02/05/2010 N 03-03-06/1/50, dated 10/13/2006 N 03-03-04/ 4/160).
According to this logic, a long cycle, for example, will be considered work (services) that can be completed in a few days if they started in December of one year and finished in January of the next. You can argue as much as you like about the legality of this approach, nevertheless, the tax authorities are in solidarity with the Ministry of Finance on this issue (see Letters of the Ministry of Taxes of Russia dated September 15, 2004 N 02-5-10/54, Federal Tax Service of St. Petersburg dated December 09, 2004 N 02-05/26961).
Now let’s assume another situation: an organization performs work under a contract from January to December within one year. Stage-by-stage delivery of work is not provided; the work completion certificate for the entire amount was signed on December 31. Should income be distributed at the end of each reporting period in this case, since the term of the contract falls within one tax period? According to the author, it should. After all, in para. 1 item 2 art. 271 of the Tax Code of the Russian Federation establishes that for income relating to several reporting (tax) periods, income is distributed by the taxpayer independently, taking into account the principle of uniform recognition of income and expenses.
So, under “no-stage” “long-term” contracts, income is subject to distribution. How can this be done?
According to the Ministry of Finance (Letters dated 06/09/2009 N 03-03-06/1/384, dated 10/13/2006 N 03-03-04/4/160), the price of the contract can be distributed by the taxpayer between reporting (note, the Ministry of Finance wrote - “reporting”) periods during which the contract is executed, in one of the following ways:
- evenly;
- in proportion to the share of actual expenses of the reporting period in the total amount of expenses provided for in the estimate.
The Tax Code does not limit the taxpayer in the method of income distribution. In addition to these two listed methods, we can recommend distribution in proportion to the volume of work performed in the reporting period in the total volume of work under the contract.
Let's look at examples of the methods recommended by the Ministry of Finance.
Method one - the organization evenly includes the income received during the contract period.
Example 2. An organization entered into an agreement to perform work on the installation of a building’s ventilation system in the amount of 15,000,000 rubles. (without VAT). The contract is valid from November 12, 2009 to April 10, 2010. However, the contract does not provide for phased delivery of work.
The accounting policy of the organization establishes:
— income from long-term contracts is recognized evenly over the term of these contracts;
— monthly advance payments are calculated based on the actual profit received. The reporting period for income tax is one month, two months, three months, etc.
We calculate the duration of work under the contract in calendar days. It will be 150 days (19 + 31 + 31 + 28 + 31 + 10).
For each day of work performed, an income of 100,000 rubles is generated. (RUB 15,000,000 / 150 days). Multiplying the amount of 100,000 rubles. by the number of days the contract is valid in a given month, we get the monthly amount of “deferred income”. It will be: in November 2009 - 1,900,000 rubles. (RUB 100,000 x 19 days), in December 2009 - RUB 3,100,000. (RUB 100,000 x 31 days), etc.
From arbitration practice. When choosing a temporary criterion that assumes an even distribution of income during the period of execution of the contract, it is necessary to take into account the following circumstance: established in paragraph 2 of Art. 271 of the Tax Code of the Russian Federation, the requirements will be fulfilled only if the performance of work under the contract involves the equal bearing of expenses. In the absence of this circumstance, it is more correct to apply the method of distributing income in proportion to the share of actual expenses of the reporting period in the total amount of expenses provided for in the estimate, which corresponds to clause 2 of Art. 271 of the Tax Code of the Russian Federation (this conclusion follows from the Resolution of the Federal Antimonopoly Service NWO dated April 10, 2009 N A42-4798/2007).
The second method is proportional to the share of actual expenses of the reporting period in the total amount of expenses provided for in the estimate. With this method, it is necessary to determine the method for estimating the total amount of expenses under the contract. It can be determined by estimated cost, by direct costs (in this case, both all direct costs and only labor costs can be used in the calculation), etc. The chosen method of distributing income relating to several reporting periods must be fixed in the accounting policy of the organization for tax purposes (Article 316 of the Tax Code of the Russian Federation).
Example 3. Let's use the data from example 2.
Option 1. The accounting policy of the organization establishes that income under long-term contracts that do not provide for phased delivery of work is recognized in proportion to actual expenses in the total amount of expenses under these contracts.
The volume of total expenses according to the estimate is 12,000,000 rubles.
The organization's actual expenses were: in November 2009 - 1,200,000 rubles, in December 2009 - 2,600,000 rubles, in January 2010 - 950,000 rubles. etc.
Let's calculate the amount that needs to be included in income:
- in November 2009 - 1,500,000 rubles. (1,200,000 x 15,000,000 / 12,000,000);
— in December 2009 — RUB 3,250,000. (2,600,000 x 15,000,000 / 12,000,000);
— in January 2010 — 1,125,000 rubles. (900,000 x 15,000,000 / 12,000,000) etc.
Option 2. The organization’s accounting policy establishes that income under long-term contracts that do not provide for phased delivery of work is recognized in proportion to the share of direct labor costs in the total estimated cost of work.
The cost of remuneration of the main workers according to the estimate is 5,000,000 rubles.
Actual expenses for paying them: in November 2009 - 400,000 rubles, in December 2009 - 800,000 rubles, in January 2010 - 300,000 rubles. etc.
Let's calculate the amount that needs to be included in income:
— in November 2009 — RUB 1,200,000. (400,000 x 15,000,000 / 5,000,000);
— in December 2009 — RUB 2,400,000. (800,000 x 15,000,000 / 5,000,000);
— in January 2010 — 900,000 rubles. (300,000 x 15,000,000 / 5,000,000) etc.
Note! The taxpayer's income from work and services with a long cycle is distributed in the manner chosen by the taxpayer and set forth in the accounting policy regulations. In this case, the attribution of incurred expenses to expenses of the reporting (tax) period is carried out by the taxpayer in the generally established manner. This is indicated by the Ministry of Finance in Letter dated 06/09/2009 N 03-03-06/1/384.
This means that taxpayers whose production is related to the performance of work (rendering services) take into account expenses as follows:
— the amount of indirect expenses incurred in the reporting (tax) period is included in full as expenses of the current reporting (tax) period;
— the amount of direct costs is distributed to the balances of work in progress in proportion to the share of unfinished orders in the total volume of orders for work (provision of services) completed during the month.
The procedure for distributing direct costs when performing “long-term” work under contracts that do not provide for phased delivery of work is reflected in Letter of the Ministry of Finance of Russia dated 02/04/2005 N 03-03-01-04/1/52. It is similar to the procedure outlined in example 1.
Let us recall the formula for calculating work in progress balances at the end of the month:
NZPkm = (NZPnm + PRmes) x DSRkm / DSR
In addition, the volume of work, services, income for which was taken into account in the reporting (tax) period, when calculating work in progress should be considered as work performed, services provided (see Letters of the Ministry of Finance of Russia dated July 30, 2004 N 03-03-05/1/88 , Ministry of Taxes and Taxes of Russia dated September 15, 2004 N 02-5-10/54). In example 3 (option 1), income includes the following amounts: in November 2009 - 1,500,000 rubles, in December 2009 - 3,250,000 rubles, in January 2010 - 1,125,000 rubles, and when calculating work in progress these amounts will be recorded as work completed.
Thus, when calculating the work in progress indicator, the specified volumes will not be included in the composition of unfinished (or completed, but not accepted at the end of the current month) orders for work, provision of services (DSRkm).
Let's explain this with an example.
Example 4. Let's use the data from example 3 (option 1).
Direct expenses amounted to: in November 2009 - 600,000 rubles, in December 2009 - 1,700,000 rubles, in January 2010 - 480,000 rubles. etc.
In November, the organization reflected income in the amount of RUB 1,500,000, so
Thus, the DSRkm indicator will be 13,500,000 rubles. (15,000,000 -1,500,000).
WIP at the end of November will be 540,000 rubles. ((0 + 600,000) x 13,500,000 / 15,000,000).
Direct expenses that reduce profit in November will amount to 60,000 rubles. (0 + 600,000 – 540,000).
Indicators for the following months are calculated in a similar way.
In December, the organization reflected income in the amount of 3,250,000 rubles, the DSRkm indicator will be 10,250,000 rubles. (15,000,000 - 1,500,000 - 3,250,000).
WIP at the end of December will be 1,530,667 rubles. ((540,000 + 1,700,000) x 10,250,000 / 15,000,000).
Direct expenses that reduce profit in December will amount to RUB 709,333. (540,000 + 1,700,000 – 1,530,667).
In January, the organization recorded income in the amount of RUB 1,125,000,
the DSRkm indicator will be 9,125,000 rubles. (15,000,000 - 1,500,000 - 3,250,000 - 1,125,000).
WIP at the end of January will be 1,223,156 rubles. ((1,530,667 + 480,000) x 9,125,000 / 15,000,000).
Direct expenses that reduce profit in January will amount to RUB 787,511. (1,530,667 + 480,000 – 1,223,156).
Indicators for the following months are calculated in a similar way - February, March, April.
Let's summarize the above: if the taxpayer does not want to argue with tax inspectors and at the same time does not want to pay income tax before signing the work completion certificate, it is better to draw up an agreement broken down into stages. Please note that it is not the payment under the contract that is “split” (for example, some contracts indicate that payment is made in two stages), but rather the work. Depending on the specifics of the work performed (services provided), the breakdown into stages can be made as a percentage of the total volume of work under the contract or by type of work.
By the way, the Tax Code does not establish restrictions on the number of stages, or on their duration, or on the comparability of volumes. It is also not necessary to link the delivery date of a particular stage to the payment deadlines.
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| All materials of the issue |
Biography
