Sample tax accounting policy regarding VAT

Organizational provisions

1. For the purpose of generating information on tax accounting, the company discloses within the specified section data that allows it to more accurately generate the necessary information both in general and for each of the taxes for which it is a payer.
2. Information about whether the company is newly created or not is necessary to establish whether the tax accounting policy of the organization is completely new or represents a modification of the old one. We note that the accounting policy is formed no later than 90 days from the date of establishment of the company and is applied consistently from year to year.
3. Next, the company must indicate the types of business activities it carries out. This information, in addition to stating a fact, carries an additional burden. Depending on the specific type of activity, the organization forms the features of its accounting tax policy (primarily in terms of income tax).
4. For the same purposes - to characterize the characteristics of the company’s activities, taken into account when generating data on tax accounting for income tax - the organization must indicate information about whether it carries out transactions with securities and whether it incurs R&D expenses in the course of its activities.
5. For the purpose of generating information on the procedure for maintaining property tax records, an organization must indicate whether it has property subject to taxation on its balance sheet.
6. For structural characteristics, it is necessary to indicate in the accounting policy the presence (absence) of separate structural divisions, including those located on the territory of one subject of the Federation.
7. What follows is a block of questions, the answers to which characterize the procedure for organizing tax accounting. The company has the right to keep records of data both with the involvement of a third-party organization or a specially authorized person (in this case, their name should be indicated in the text of the accounting policy), and on its own. If tax accounting is carried out in-house, then it is necessary to indicate who is doing this - an individual employee or a specialized service. In both cases, specification is required, that is, an exact indication of the employee’s position according to the staffing table or the name of the department in accordance with the company structure.
8. An essential point is to indicate the method of tax accounting (automated or non-automated). When choosing an automated method, you must additionally specify the specialized program with which tax accounting is maintained.

What is an accounting policy?

An accounting policy is an internal document of an organization or individual entrepreneur, which regulates the procedure for organizing accounting and tax accounting. The requirements for the development of accounting policies are given in Article 8 of the Law dated December 6, 2011 N 402-FZ and in PBU 1/2008, approved by Order of the Ministry of Finance of Russia dated October 6, 2008 No. 106n.

As for the accounting policy for tax accounting , there are only scattered requirements for it. Thus, Article 167 of the Tax Code of the Russian Federation contains general instructions for accounting policies for VAT, and Articles 313 and 314 of the Tax Code of the Russian Federation - for income tax. The code does not contain requirements for the procedure for drawing up and processing tax accounting policies.

The accounting policy establishes the choice of accounting method from those allowed by law, but if there is only one method of accounting for any transaction, then it is not necessary to indicate it. In cases where the method of accounting for a business transaction is not provided for by law, it must be developed independently and prescribed in the accounting policy.

To be sure that your accounting policies are correct, we recommend that you periodically review all necessary documents or involve professionals who will check your accounting and be able to identify all shortcomings and financial risks in a timely manner.

Free business audit

Typically, an accounting policy is formed every year, but if it is not approved for the new year, then last year’s policy continues to apply. During the year, the document can only be supplemented if a new type of activity has appeared in the taxpayer’s activities (for example, a trade organization has also begun to provide maintenance services for these goods) or the law has made changes to the provisions on accounting or taxes. As for the provisions already enshrined in the annual accounting policy, they can only be changed starting from the new year.

A newly created organization must approve its accounting policy no later than 90 days from the date of registration (clause 9 of PBU 1/2008), and for the purposes of calculating VAT - before the end of the quarter in which it was registered. It is recognized that the organization applies accounting policies from the moment of state registration.

The accounting policy is developed by the chief accountant or other person responsible for accounting, and approved by the manager or individual entrepreneur.

Individual entrepreneurs, who may not keep accounting, develop accounting policies only for taxation, and organizations - for accounting and tax accounting. Individual entrepreneurs must formulate an accounting policy for tax purposes:

• are VAT payers;
• working on the simplified tax system Income minus expenses;
• agricultural tax payers;
• when combining simplified taxation system and UTII.

To avoid disputes with tax authorities, we also recommend that all other individual entrepreneurs create an accounting policy for tax accounting.

How to approve the UE

Each organization independently determines the form in which its accounting policy is drawn up for tax accounting purposes. There is no single approved template. The main principle is to list all taxes and the principles for calculating them. The manager approves the document by his order. The order looks like this:

The document itself can be both detailed and concise. A typical sample accounting policy for tax accounting purposes for 2021 (OSNO) looks like this:

Change mid-tax period

The letter of the Ministry of Finance of Russia No. 03-03-06/1/45756 dated 07/03/2018 states that Article 313 of the Tax Code of the Russian Federation defines the possibility of making adjustments to the tax accounting policy of an organization only in two cases:

• when legislation on taxes and fees changes;
• when changing the accounting methods used.

Changing accounting methods is allowed only from the beginning of a new tax period, that is, from the beginning of the year. But if the legislation changes, it is allowed to change the accounting policy from the moment the new rules come into force. It depends on the organization on what principle to formulate its tax accounting policy. When new activities appear, changes must be made to it. In the middle of the tax period, the taxpayer has the right to change the accounting policy in two cases:

• the legislation has changed and these changes have entered into legal force;
• The company began to carry out a new type of activity.

Change in accounting policy

The accounting policies adopted by the company are applied consistently from one year to the next. However, this does not mean that it cannot be changed.

Thus, Article 313 of the Tax Code directly states that “changes in the accounting procedure for individual business transactions and (or) objects for tax purposes are carried out by the taxpayer in the event of changes in the legislation on taxes and fees or the accounting methods used.”

The company must make changes to its accounting policy for tax purposes: either from the beginning of a new tax period (year), if the applied accounting methods have changed, or from the moment new changes to the legislation on taxes and fees come into force. The policy change must be justified. It is drawn up in the same manner as the accounting policy itself, that is, by order or instruction of the head of the company.

If a company does not have an accounting policy for tax purposes, tax inspectors can fine it 200 rubles (clause 1 of Article 126 of the Tax Code of the Russian Federation). In addition, the head of the organization may be fined. The amount of the fine will be from 300 to 500 rubles (Article 15.6 of the Code of Administrative Offenses of the Russian Federation).

Neither tax nor accounting legislation contains rules that oblige “simplified” companies to submit their accounting policies to the tax authorities. This is an internal document of the company.

At the same time, during a tax audit, the inspector may request the documents necessary for the audit (Article 93 of the Tax Code of the Russian Federation).

And the accounting policy is precisely one of these “necessary” documents (letter of the Department of Tax Administration of the Russian Federation for Moscow dated February 26, 2004 No. 21-09/12333). Therefore, the “simplified” ones should adopt an accounting policy.

Firstly, in order to avoid a fine. After all, inspectors can punish a company for failure to provide information necessary for tax control.

Secondly, with the help of accounting policies, it is possible to prove the legality of accounting for property and transactions in the order established by the company.

Value added tax (VAT)

This section must be completed only by organizations that are VAT payers.

Periodicity

As part of the general provisions on the procedure for maintaining VAT tax accounting, the organization must indicate the frequency of renewal of the numbering of invoices. There are no strict restrictions in regulatory and legislative acts on this issue, so the organization has the right to indicate any of the proposed options - monthly, quarterly, annually, or with other frequency.

Enterprises engaged in the manufacture (production) of goods, works and services with a long production cycle (more than 6 months, according to the list approved by the Government of the Russian Federation), must provide in their accounting policies for determining the tax base upon receipt of an advance payment on account of upcoming deliveries of goods (performance of work, to provide the method, the organization fixes in its accounting policy one of the proposed dates - either on the day of shipment or on the day of receipt of payment (full or partial). If the organization provides for the use of a “separate” method, then it has the right to use both of the above dates to determine the tax base. In The text of the accounting policy must indicate for which transactions the tax base is determined on the date of shipment, and for which - on the date of payment.

Separate VAT accounting

Further points disclosed in the accounting policy regarding the procedure for maintaining tax accounting for VAT are related to the organization of separate VAT accounting for organizations that carry out transactions subject to and non-taxable with VAT, and types of activities for which different rates of this tax are applied. Accordingly, only organizations that have the above operations in their business practice should disclose in their accounting policies the specifics of tax accounting. The first point in the disclosure in the accounting policy of information on the procedure for maintaining separate accounting for VAT is an indication of the fact that the organization has business transactions that are not subject to VAT (if there is taxable turnover) and transactions taxed at a rate of 0% (if there are transactions taxed by other means). rates other than 0%).

Next, the organization needs to decide for itself whether it applies the so-called “5% rule” for the purposes of separate accounting (separate accounting of “input” VAT is allowed not to be carried out in those tax periods in which the share of total expenses on transactions not subject to VAT is less or equal to 5% of the total total production costs). Accordingly, ignoring this rule means that separate accounting is carried out regardless of the proportion of the ratio between taxable and non-taxable transactions. The “5% rule” is used by those organizations whose share of non-VAT-taxable transactions is insignificant.

If an organization applies the 5% rule, then it needs to disclose some additional information in its accounting policies. The first point related to this concerns the expense register for the purpose of applying this rule. At the choice of the organization, this is either a special sub-account allocated in the working chart of accounts, a separate accounting register, or another independently developed method. The choice of one of the options depends on the general order of organization of the accounting process.

Next, the base is determined in proportion to which the distribution of general business expenses is made. This indicator is determined in proportion to the share of revenue from non-taxable transactions in the total volume of sales, in proportion to the share of direct expenses in the total amount of expenses, or in any other way adopted by the organization. The choice of method is made solely on the basis of the professional judgment of officials of the organization.

When choosing the “share of expenses” as a base indicator, the organization provides for the creation of a special form (tax accounting register) in its accounting policy. Let's consider an example of accounting policy for tax purposes for 2021 with VAT:

The next point related to maintaining separate accounting for VAT is determining the period for calculating the proportion of VAT to be deducted on fixed assets and intangible assets (intangible assets) accepted for accounting in the first or second month of the quarter. The organization can choose to determine the specified ratio between taxable and non-taxable turnover under VAT either on the basis of monthly data or based on quarterly results. The choice of option depends on whether the organization generates data on sales of goods, works, and services on a monthly basis or not. If not, then you should choose the option based on the “quarterly” proportion.

An organization has the right to maintain separate accounting of “input” VAT either in a special subaccount to balance sheet account 19 “VAT on acquired values,” or in a separate register, or in another independently determined order. The choice of this procedure depends on the organization’s accounting process.

The procedure for maintaining separate accounting of transactions for the sale of goods, works and services, subject to and non-taxable with VAT, is provided for in the accounting policy. By analogy with the above, such accounting is electively kept either in a special sub-account, or in a separate register, or in any other way. The choice of option is at the discretion of the company.

To quickly and correctly draw up a document, use the free accounting policy designer for 2021 from ConsultantPlus experts.

Accounting Policy Production Tax Accounting

ORDER No.

on approval of accounting policies for tax purposes

for accounting purposes - Here

___________ 12/31/20 ____

I ORDER:

1. Approve the accounting policy for tax purposes for the year 20 in accordance with the appendix.

2. Entrust control over the execution of this order to chief accountant I.I. Ivanov

General Director P.P.
Petrov Appendix 1 to Order No. ___ dated December 31, 20__

Accounting policies for tax purposes

Corporate income tax

Procedure for maintaining tax records

1. Tax accounting is carried out by the accounting service of LLC "XXXXXX"

2. Tax accounting is maintained separately from accounting in tax accounting registers. The list of tax accounting registers is given in Appendix 1.

Reason: Article 313 of the Tax Code of the Russian Federation.

3. Accounting for income and expenses is carried out using the accrual method. Reason: Articles 271, 272 of the Tax Code of the Russian Federation.

Accounting for depreciable property

4. The useful life of fixed assets is determined by the minimum value of the interval of periods established for the depreciation group in which the fixed asset is included in accordance with the classification approved by the Government of the Russian Federation.

In the case of reconstruction, modernization or technical re-equipment, the useful life of a fixed asset increases to the limit value established for the depreciation group in which the modernized fixed asset was included.

Reason: Decree of the Government of the Russian Federation of January 1, 2002 No. 1 “On the Classification of fixed assets included in depreciation groups”, paragraph 1 of Article 258 of the Tax Code of the Russian Federation.

5. The useful life of used fixed assets is determined equal to the period established by the previous owner, reduced by the number of years (months) of operation of these fixed assets by the previous owner.

The depreciation rate for used fixed assets is determined taking into account the useful life reduced by the number of years (months) of operation by the previous owner.

Reason: clause 7 of article 258 of the Tax Code of the Russian Federation.

6. The useful life of an intangible asset is determined based on the validity period of the patent, certificate and on the basis of the useful life in accordance with the relevant agreement.

For intangible assets for which it is impossible to determine the useful life, a period of 10 years is applied.

Reason: paragraph 2 of Article 258 of the Tax Code of the Russian Federation.

7. Depreciation for all objects of depreciable property (fixed assets and intangible assets) is calculated using the straight-line method.

Reason: paragraphs 1 and 3 of Article 259 of the Tax Code of the Russian Federation.

8. Depreciation bonus is not applied. Depreciation is calculated in accordance with the general procedure.

Reason: clause 9 of article 258 of the Tax Code of the Russian Federation.

9. The basic depreciation rate for fixed assets used for work in conditions of an aggressive environment and (or) increased shifts is determined taking into account a special coefficient of 2. A specific list of fixed assets for which a special coefficient is applied is determined by a separate order.

Reason: subparagraph 1 of paragraph 1 of Article 259.3 of the Tax Code of the Russian Federation.

10. A reserve for repairs of fixed assets is not created. Expenses for the repair of fixed assets are recognized for tax purposes as part of other expenses in the reporting period in which they were incurred, in the amount of actual expenses.

Reason: Article 260 of the Tax Code of the Russian Federation.

11. Tax accounting of transactions with depreciable property is carried out using a tax register, the form of which is established in Appendix 2.

Reason: Article 313 of the Tax Code of the Russian Federation.

Accounting for raw materials and supplies

12. The cost of inventories purchased for a fee includes:

— the price of their acquisition (excluding VAT and excise taxes),

— commissions paid to intermediary organizations,

— import customs duties and taxes,

- transportation costs,

— amounts paid to organizations for information and consulting services related to the acquisition of inventories;

— costs of bringing inventories to a state in which they are suitable for use for the planned purposes.

Reason: clause 4 of article 252, clause 2 of article 254 of the Tax Code of the Russian Federation.

13. When writing off raw materials and materials used in production, valuation is carried out using the average cost method.

Reason: paragraph 8 of Article 254 of the Tax Code of the Russian Federation.

14. Tax accounting of transactions for the acquisition and write-off of raw materials and materials for production is carried out in the manner determined for accounting purposes, in the appropriate sub-accounts to account 10 “Materials”.

Reason: Article 313 of the Tax Code of the Russian Federation.

Cost accounting

15. Tax accounting of labor costs should be kept in tax accounting registers, the form of which is established in Appendix 3.

Reason: Article 313 of the Tax Code of the Russian Federation.

16. A reserve for future expenses for vacation pay is not created.

Reason: Article 324.1 of the Tax Code of the Russian Federation.

17. A reserve for future expenses for the payment of annual remunerations for length of service and based on the results of work for the year is not created.

Reason: Article 324.1 of the Tax Code of the Russian Federation.

18. Deductions to the reserve for doubtful debts are made quarterly. The inventory of accounts receivable for the purpose of creating a reserve is carried out as of the last day of the reporting quarter.

The maximum reserve for doubtful debts is 10% of revenue excluding VAT. Accounting for transactions involving the accrual and use of reserves is carried out in the tax accounting register, the form of which is established in Appendix 4.

Reason: Article 266 of the Tax Code of the Russian Federation.

19. A reserve for warranty repairs and warranty service is created in an amount determined as the product of sales revenue for the reporting period and the share of actual expenses for warranty repairs and service in the volume of revenue from sales of goods for the previous three years.

Accounting for expenses for the reserve for warranty repairs and warranty service is carried out in the tax accounting register, the form of which is established in Appendix 5.

Reason: paragraph 3 of Article 267 of the Tax Code of the Russian Federation.

20. A reserve for future expenses for scientific research and (or) development is not created.

Expenses on scientific research and (or) experimental development are taken into account for tax purposes as part of other expenses in the reporting period in which they were incurred, in the amount of actual expenses.

Reason: Article 267.2 of the Tax Code of the Russian Federation.

21. All types of R&D costs are included in other expenses without applying a multiplying factor.

Reason: Article 262 of the Tax Code of the Russian Federation.

22. Interest on borrowed funds is included in expenses within the refinancing rate of the Central Bank of the Russian Federation, increased by 1.1 times, for ruble obligations and 15 percent per annum for foreign currency obligations.

Reason: Article 269 of the Tax Code of the Russian Federation.

23. Direct costs of production include:

• all material costs for the purchase of raw materials and supplies used in the production of products, except for general business and general production material costs;

• expenses for remuneration of personnel of workshops and divisions of the main production;
• the amount of insurance contributions to extra-budgetary funds accrued on the wages of personnel involved in the production process;

• the amount of accrued depreciation on fixed assets directly used in production.

Reason: paragraph 1 of Article 318 of the Tax Code of the Russian Federation.

24. Accounting for direct costs of production is carried out in tax accounting registers.

Reason: Article 313 of the Tax Code of the Russian Federation.

25. If the direct costs specified in paragraph 23 of this Accounting Policy cannot be attributed to the production of a specific type of product, then they are subject to distribution in proportion to the direct costs directly related to the production of each type of product.

Reason: paragraph 5 of paragraph 1 of Article 319 of the Tax Code of the Russian Federation.

26. Direct costs are distributed between work in progress and finished products in proportion to the share of the main raw materials attributable to work in progress in the total amount of raw materials released into production during the month, taking into account balances at the beginning of the month (in physical terms).

Reason: paragraph 1 of Article 319 of the Tax Code of the Russian Federation.

27. The assessment of balances of finished products in the warehouse is carried out in a separate tax accounting register as the difference between the amount of direct costs attributable to the balances of finished products in the warehouse at the beginning of the current month, increased by the amount of direct costs allocated to products manufactured in the current month, and the amount of direct costs attributable to products shipped in the current month.

Direct costs attributable to products shipped in the current month are determined in proportion to the quantity of shipped finished products in the total quantity of finished products in physical terms.

Reason: paragraph 2 of Article 319 of the Tax Code of the Russian Federation.

28. Direct costs attributable to products shipped but not sold at the end of the current month are determined in proportion to the amount of finished products shipped but not sold in the total quantity of finished products shipped in physical terms.

Reason: paragraph 3 of Article 319 of the Tax Code of the Russian Federation.

29. Income and expenses relating to several reporting periods are distributed evenly during the term of the contract to which they relate.

If the completion date of work (provision of services) under the contract cannot be determined, the period for distribution of income and expenses is established by order of the head of the organization.

Reason: paragraph 1 of article 272, paragraph 2 of article 271, article 316 of the Tax Code of the Russian Federation.

Procedure for calculating advance payments

30. Payment of monthly advance payments for income tax is made based on 1/3 of the actually paid quarterly advance payment for the quarter preceding the quarter in which the monthly advance payments are made.

Reason: paragraph 2 of Article 286 of the Tax Code of the Russian Federation.

31. To determine the amounts of advance payments and tax payable at the location of separate divisions, indicators of the share of the residual value of depreciable property and the average number of employees are used.

Reason: paragraph 2 of Article 288 of the Tax Code of the Russian Federation.

Value added tax

32. Separate divisions number invoices within the range of numbers allocated by the parent organization.

Reason: subparagraph “a” of paragraph 1 of Appendix 1 to the Decree of the Government of the Russian Federation dated December 26, 2011. No. 1137.

33. Accounting for VAT-exempt transactions for the sale of _____________ is carried out separately in accounting subaccounts.

Direct costs for carrying out this type of activity are taken into account in the subaccount “Costs of sales _________” to account 20 “Main production”.

Indirect costs are accounted for in the subaccount “Costs __________ for distribution” to account 25 “General production expenses” and in account 26 “General expenses”.

The total costs of implementing ________ for the purpose of calculating the 5 percent barrier of costs for non-taxable activities are determined as the sum of direct and the corresponding share of indirect costs.

Reason: subclause 25 of clause 2 of article 149, clause 4 of article 170 of the Tax Code of the Russian Federation.

34. The share of indirect costs related to non-taxable operations is determined in proportion to the revenue from non-taxable activities in the total amount of revenue from all types of activities. The distribution of indirect costs and the calculation of total costs for activities exempt from VAT are carried out in the tax accounting register, the form of which is established in Appendix 6.

Reason: paragraph 4 of Article 170 of the Tax Code of the Russian Federation.

35. In order to maintain separate accounting of transactions subject to VAT and transactions exempt from taxation, sub-accounts are opened to account 19:

• 19-1 “Transactions subject to VAT”;
• 19-2 “Transactions exempt from taxation”;
• 19-3 “Transactions subject to VAT and exempt from taxation.”

Reason: paragraph 4 of article 149, paragraph 4 of article 170 of the Tax Code of the Russian Federation.

36. Subaccount 19-1 “Transactions subject to VAT” takes into account the tax amounts presented by suppliers for goods (works, services) used in activities subject to VAT.

Tax amounts recorded in subaccount 19-1 are accepted for deduction in the manner established by Article 172 of the Tax Code of the Russian Federation, without restrictions.

Reason: paragraph 3 of paragraph 4 of Article 170, Article 172 of the Tax Code of the Russian Federation.

37. Subaccount 19-2 “Transactions exempt from taxation” takes into account the amounts of tax presented by suppliers for goods (work, services) used in activities not subject to VAT.

Tax amounts accounted for in subaccount 19-2 are accepted for deduction only if for the reporting quarter the share of total expenses for the sale of scrap metal in total expenses does not exceed 5 percent.

Reason: paragraphs 2 and 9 of paragraph 4 of Article 170 of the Tax Code of the Russian Federation.

38. Subaccount 19-3 “Transactions subject to VAT and exempt from taxation” takes into account the amount of tax on goods (work, services) used in activities subject to VAT and at the same time exempt from taxation.

Tax amounts reflected in subaccount 19-3 are accepted for deduction during the quarter in the manner established by Article 172 of the Tax Code of the Russian Federation.

The amount of deductions under account 19-3 can be adjusted only if, at the end of the tax period (quarter), the share of total expenses for carrying out VAT-exempt transactions in total expenses exceeds 5 percent.

Reason: paragraph 4 of article 149, paragraph 4 of paragraph 4 of article 170 of the Tax Code of the Russian Federation.

39. VAT amounts accepted for accounting in subaccount 19-2 are not accepted for deduction during the quarter.

If, based on the results of the quarter, the total expenses for non-taxable activities did not exceed 5 percent, the application of the deduction from subaccount 19-2 is recorded in the purchase book for the current quarter.

If the 5 percent expense barrier is exceeded, then the tax amounts are written off from subaccount 19-2 to increase the value of assets.

Reason: paragraph 4 of Article 170 of the Tax Code of the Russian Federation.

40. Adjustment of the amount of deductions applied from subaccount 19-3 “Transactions subject to VAT and exempt from taxation” in case of exceeding the 5 percent barrier of expenses for non-taxable activities is carried out in proportion to the revenue from non-taxable activities in the total revenue of the organization for the quarter.

This adjustment is made for each invoice as of the last day of the tax period (quarter).

Amounts of tax subject to restoration at the end of the quarter in subaccount 19-3 are not included in the cost of goods (work, services), including fixed assets, and are taken into account as part of other expenses in accordance with Article 264 of the Tax Code of the Russian Federation.

Reason: subparagraph 2 of paragraph 3 of Article 170, paragraph 4 of Article 170 of the Tax Code of the Russian Federation.

41. The moment of determining the tax base for VAT upon receipt of an advance payment on ______________ with a production cycle duration of more than six months is considered to be the day of shipment of goods.

Reason: Decree of the Government of the Russian Federation of July 28, 2006 No. 468, paragraphs 1, 13 of Article 167 of the Tax Code of the Russian Federation.

42. Accounting for production operations of ____________ with a long production cycle is carried out in separate tax accounting registers, the form of which is established in Appendix 7.

Reason: Article 313 of the Tax Code of the Russian Federation.

43. For the purpose of separate accounting of transactions taxed at a rate of 0% from other taxable transactions, accounting data is applied to subaccount 19-4 “VAT on export costs” and subaccount to account 90 “Revenue from export sales”.

Amounts recorded in subaccount 19-4 “VAT on export costs” related to transactions for which the right to apply a zero rate has been confirmed are written off at the end of the quarter to the debit of account 68 and recorded in the purchase book.

Reason: paragraph 1 of Article 153 and paragraph 10 of Article 165 of the Tax Code of the Russian Federation.

44. Amounts of tax on goods (works, services) partially used in export transactions taxed at a rate of 0% are taken into account in subaccount 19-1 “Operations subject to VAT” or 19-3 “Operations subject to VAT and exempt from taxation” » depending on the use of assets in VAT-exempt activities.

VAT amounts reflected in subaccounts 19-1 and 19-3 and partially related to transactions taxed at a rate of 0% are written off monthly by invoice to subaccount 19-4 in proportion to the share of export revenue in total sales revenue for all taxable types activities.

Reason: clause 10 of article 165 of the Tax Code of the Russian Federation.

Chief accountant I.I. Ivanova

Income tax

The profit section in the accounting policy is filled out only by organizations that are payers of income tax. First, you need to indicate how information is generated for the purposes of calculating the taxable base for income tax:

• by filling out specially designed tax accounting registers;
• by filling out accounting registers, supplemented, if necessary, with relevant details.

The choice of one of the options depends on the organization itself, taking into account how its accounting procedures are organized and document flow is structured.

Next, the organization must indicate which reporting period it applies for income tax - monthly or quarterly. The choice depends solely on the organization itself and its desire to generate income tax indicators in one way or another.

Tax accounting policies should reflect the payment of monthly advance payments. There are no choice options, since those who are exempt from making advance payments of income tax are directly named in paragraph 3 of Article 286 of the Tax Code of the Russian Federation. This moment is purely ascertaining in nature.

Organizations that have separate structural divisions located on the territory of different subjects of the Federation must disclose in their accounting policies information about the basic indicator in proportion to which (in addition to the residual value of depreciable property) the share of profit attributable to the separate division is distributed. The organization chooses either a share of the average number of employees of the department, or a share of the costs of paying for their labor. The choice of one of the options depends solely on the organization itself, depending on the professional judgment of its officials.

VAT: accounting policy segment

As a general rule, VAT amounts presented upon the acquisition (import) of goods (work, services), including fixed assets and intangible assets, are accepted for deduction. However, there are exceptions. Thus, in accordance with paragraph 2 of Article 170 of the Tax Code of the Russian Federation, VAT amounts are taken into account in the cost of goods (work, services) in the following cases:

• when using goods (work, services) in transactions that are not subject to taxation (exempt from taxation) in accordance with Article 149 of the Tax Code of the Russian Federation;
• when using goods (works, services) in operations the place of sale of which is not the territory of the Russian Federation (Articles 147, 148 of the Tax Code of the Russian Federation);
• in cases of acquisition of goods (work, services) by persons who are not VAT payers or are exempt from paying it in accordance with Article 145 of the Tax Code of the Russian Federation;
• when using goods (work, services) in transactions that are not subject to taxation on the basis of paragraph 2 of Article 146 of the Tax Code of the Russian Federation.

In addition, operations listed in paragraph 3 of Article 39 of the Tax Code of the Russian Federation (subclause 1, paragraph 2, Article 146 of the Tax Code of the Russian Federation) are not subject to VAT (are not recognized as sales).

Taxpayers should also pay attention: Article 167 of the Tax Code of the Russian Federation allows the taxpayer, in case of receipt of payment, partial payment on account of upcoming supplies of goods (performance of work, provision of services), the duration of the production cycle of which exceeds six months (according to the list determined by the Government of the Russian Federation), to accept the moment of determining the tax base as the day of shipment (transfer) of the specified goods (performance of work, provision of services). This right can be applied only if separate records are kept of transactions performed and tax amounts for purchased goods (works, services), including fixed assets, intangible assets, property rights used as part of a long production cycle and other operations.

Let us recall that according to paragraph 5 of Article 149 of the Tax Code of the Russian Federation, transactions that are not subject to taxation are divided into transactions:

• mandatory exemption from VAT (clauses 1, 2 of Article 149 of the Tax Code of the Russian Federation);
• benefits which the taxpayer can refuse (clause 3 of Article 149 of the Tax Code of the Russian Federation).

Please note: paragraph 4 of Article 149 of the Tax Code of the Russian Federation obliges taxpayers to keep separate records of transactions subject to VAT and exempt from taxation. In addition, taxpayers transferred to pay a single tax on imputed income for certain types of activities must also maintain separate accounting (paragraph 6, clause 4, article 170 of the Tax Code of the Russian Federation). In this case, the procedure for separate accounting should be reflected in the company's accounting policy.

Accounting for income and expenses

What follows is a large block of questions related to accounting for the organization’s income and expenses. The first and most significant issue in this block is the method of recognizing income and expenses. Only organizations whose average revenue from the sale of goods (work, services) excluding VAT over the previous four quarters did not exceed 1 million rubles for each quarter can afford to freely choose one of the two methods. That is, those who have the right to use the cash method, but want to use the accrual method. Other organizations are required to indicate the “accrual method” in their accounting policies on a non-alternative basis. The accounting policy of the organization for tax purposes does not reflect other features of accounting; there is a separate document for this.

The next question concerns only enterprises with a long technological cycle (production, the start and end dates of which fall on different tax periods, regardless of the number of days of production), for which stage-by-stage delivery of work (services) is not provided. Such organizations have the right to establish in their accounting policies the procedure for recognizing income by distributing it between reporting periods either in equal shares based on the number of periods, or in proportion to the costs incurred, or in another reasonable way. The choice of one of the options depends on the principles of tax planning determined by the organization independently.

Next, the point related to the procedure for recognizing losses from the assignment of the right to claim a debt before the maturity date is revealed. The indicator on the basis of which the normalization of the amount of loss is calculated is calculated at the choice of the organization:

• based on the maximum interest rate established by type of currency;
• based on rates on debt obligations confirmed by the methods provided for in paragraph 1 of Article 105.7 of the Tax Code of the Russian Federation (methods used in determining for tax purposes profit in transactions to which the parties are interdependent persons).

If an organization uses the comparable market prices method for these purposes, then it needs to establish comparability criteria (for example, the same currency, the same period, another similar indicator at the discretion of the organization).

For R&D expenses, an organization needs to specify how these expenses will be accounted for. There are two options:

1. These expenses will form the cost of intangible assets (in this case, inclusion in expenses is made through depreciation over a certain useful life).
2. As part of other expenses (in this case, inclusion in expenses is carried out within two years).

An organization has the right to apply a coefficient of 1.5 to actual R&D expenses for the purpose of including them in expenses that reduce the taxable base for income tax. An appropriate indication of this fact should be made in the accounting policy. It must be remembered that if an organization chooses to use this coefficient, it is additionally charged with the obligation to provide to the tax authority at its location a report on R&D performed, the costs of which are recognized in the amount of actual costs using a coefficient of 1.5. The report is submitted to the tax authority simultaneously with the tax return based on the results of the tax period in which the relevant R&D was completed. A progress report is provided for each R&D project.

The next question concerns the accounting treatment of rental income. At the choice of the organization, they are taken into account either as part of sales income or as part of non-operating income. The choice of option depends on how the specified income was recognized in accounting.

Accounting policy for tax purposes (fragment). Separate accounting for VAT

When needed:

for the correct distribution of input VAT amounts between different types of activities.

Completed sample

Limited Liability Company "Proizvodstvennaya"

Accounting policies for tax purposes

LLC "Proizvodstvennaya" for 2021

……………………….

4. Separate accounting for VAT

To correctly distribute input VAT amounts between different types of activities, the organization maintains separate accounting:

• transactions subject to VAT;

• transactions exempt from taxation (including transactions that are not subject to VAT) in accordance with Articles 146 and 149 of the Tax Code of the Russian Federation.

As part of accounting for transactions subject to VAT, the organization maintains separate accounting:

• transactions subject to VAT at a rate of 18 (10) percent;

• transactions subject to VAT at a rate of 0 percent (clause 10 of Article 165 of the Tax Code of the Russian Federation).

4.1. Separate accounting of transactions subject to VAT and transactions exempt from taxation

4.1.2. Separate accounting of revenue and expenses for transactions subject to VAT and transactions exempt from taxation is maintained on accounts 90 and 91. To ensure separate accounting, subaccounts are opened for these accounts:

• “Transactions subject to VAT”;

• “Tax-exempt transactions”;

• “Transactions subject to VAT at a rate of 0 percent.”

4.1.2. Sub-accounts are opened for account 19:

• “VAT deductible”;

• “VAT for distribution”;

• “VAT, the deduction of which is deferred until the tax base is determined at a rate of 0 percent.”

4.1.3. Amounts of input VAT on assets acquired for activities exempt from taxation are included in the value of the assets (accounted for in the appropriate accounts under the subaccount “Activities exempt from taxation”) without being reflected in account 19.

4.1.4. Amounts of input VAT on assets acquired for activities subject to VAT and recorded in the corresponding accounts under the sub-account “Activities subject to VAT” are reflected in account 19 of the sub-account “VAT deductible”.

4.1.5. Amounts of input VAT on assets acquired for activities subject to VAT and for activities exempt from taxation are reflected in account 19 subaccount “VAT for distribution”.

4.1.6. At the end of the quarter, input VAT amounts reflected in account 19 of the “VAT for distribution” subaccount are distributed as follows:

4.1.6.1. The amount of VAT to be deducted is determined by the formula:

When calculating the proportion, the cost of goods (work, services) is taken into account without VAT.

The amount of VAT determined in this way is distributed between accounts 19 subaccount “VAT deductible” and 19 subaccount “VAT, the deduction of which is deferred until the tax base is determined at a rate of 0 percent” in the manner specified in section 4.2 of this accounting policy.

4.1.6.2. The amount of VAT to be included in the value of assets is determined by the formula:

4.1.7. If, at the end of the quarter, materials (account 10), the cost of which should include the amount of distributed VAT, are written off to cost accounts, VAT is written off to these accounts in proportion to the share of the cost of written-off materials in the total cost of materials accounted for in the quarter. In this case, the total cost of materials accounted for in the quarter is determined by the formula:

4.1.8. If, at the end of the quarter, goods (account 41), the cost of which should include the amount of distributed VAT, are written off due to sales, VAT increases the cost of sales.

4.1.9. For analytical accounting of input VAT amounts related to both transactions subject to VAT and transactions exempt from taxation, an analytical register is used (according to the form given in Appendix 1 to this accounting policy). The register is filled out based on accounting data.

4.10. In quarters in which the share of total expenses on transactions exempt from taxation does not exceed 5 percent of the total value of total expenses, all amounts of input VAT are distributed between accounts 19 subaccount “VAT to be deducted” and 19 subaccount “VAT, the deduction of which is deferred until determined.” tax base at a rate of 0 percent" in the manner specified in section 4.2 of this accounting policy.

4.11. The share of total expenses for transactions exempt from taxation is calculated in the analytical register (according to the form given in Appendix 1 to this accounting policy).

.…

4.2. Separate accounting of transactions subject to VAT at a rate of 18 (10) percent and transactions subject to VAT at a rate of 0 percent

4.2.1. The amount of VAT determined in accordance with clause 4.1.6.1 of this accounting policy is written off from the credit of account 19 subaccount “VAT for distribution”:

• or to the debit of account 19 sub-account “VAT for deduction” with subsequent assignment to account 68 sub-account “VAT calculations”;

• or in the debit of account 19 subaccount “VAT, the deduction of which is deferred until the tax base is determined at a rate of 0 percent.”

In this case, the VAT amounts attributed to different subaccounts are determined using the formulas:

4.2.2. At the end of the quarter, the amounts of input VAT recorded on account 19 subaccount “VAT, the deduction of which is deferred until the tax base is determined at a rate of 0 percent” and related to transactions for which the right to apply a zero tax rate is confirmed, are written off to the debit of account 19 subaccount “VAT for deduction" with subsequent assignment to account 68 subaccount "VAT Calculations".

….

Chief accountant of Proizvodstvennaya LLC __________ A.S. Glebova

Accounting for direct and indirect costs

What follows is a block of questions regarding the specifics of accounting for direct and indirect costs. To begin, the organization should approve the list of direct expenses, selecting them from the proposed list. At the request of the organization, this list can be either shortened or expanded as much as possible. Typically, the list of direct expenses for tax accounting purposes for income tax corresponds to a similar list accepted for accounting purposes.

With regard to direct costs associated with the provision of services, the organization has the right to provide for either their distribution to work in progress (WIP) balances, or to take them into account in full as part of current expenses. The choice of one of the options remains entirely at the discretion of the organization itself, based on its existing tax planning principles.

The organization also needs to disclose in its accounting policies the principles for the distribution of direct costs for work in progress. Depending on the characteristics of the production process and based on the professional judgment of officials, the organization has the right to choose any of the methods proposed in the list, or to approve its own method. It is allowed to use different methods for distributing direct costs depending on the type of product produced.

If an organization has direct costs that cannot be unambiguously attributed to the production of specific products, this fact should be indicated in the accounting policy. An indicator should be provided on the basis of which such costs will be distributed between types of products. This indicator is:

• wages of employees engaged in primary production;
• material costs;
• revenue;
• another indicator chosen by the organization.

What should be in the VAT accounting policy

VAT accounting policies may include:

• description of synthetic and analytical VAT accounts used in the company;
• document flow technology for VAT accounting;
• a list of documents confirming the legality of VAT deductions and requirements for their execution, including forms (invoice, UPD, UKD, etc.);
• forms of used accounting certificates and calculations (for calculating tax deductions, VAT amounts to be restored, etc.);
• the order of numbering of invoices in the presence of separate divisions;
• formulas and algorithms for separate VAT accounting;

ConsultantPlus experts explained in detail how to describe the methodology for maintaining separate VAT accounting in the accounting policy. If you do not have access to the K+ system, get a trial online access for free.

• algorithm for confirming the legality of applying the zero VAT rate (responsible persons, list of documents submitted to tax authorities, etc.);
• list of persons authorized to sign invoices (UPD, UKD);
• list of responsible persons for processing and sending VAT returns via TCS;
• algorithms for preparing and signing documents related to VAT calculations (purchase books, sales books, etc.);
• other aspects (the procedure for filing and storing invoices and other documents related to the calculation of VAT).

Inventory accounting

Let's move on to the block within which issues related to accounting for inventory items (TMV) are considered. First, let's look at the accounting of goods.

In relation to purchased goods, an organization has the right to establish the formation of their value in tax accounting both without taking into account additional costs for their acquisition, and taking them into account. The organization decides whether all additional costs are included in the cost of purchased goods or only certain types of them. The list of additional expenses included in the cost of purchasing goods is established in the accounting policy. Typically, the choice in favor of one or another method of forming the value of goods depends on how their value was formed in accounting.

The next point is an indication of the method of evaluating the product during its sale. One of three methods is selected: unit cost, average cost, FIFO method. It is possible to use a single method for all types of goods, or to select an individual method for each group.

In relation to raw materials and materials, the organization indicates the method of their valuation when written off. The same methods that were used to evaluate goods are offered to choose from. Similarly, it is possible to use different assessment methods for different groups of raw materials and supplies.

In relation to low-value property (tangible assets of durable use that do not fall into the category of depreciable property), the organization must indicate how its value is included in current expenses: at a time (by analogy with raw materials) or in equal shares over more than one reporting transition (based on useful life or other economically justified indicator).

Depreciation

Now let's turn to the procedure for accounting for depreciable property (fixed assets and intangible assets). The first question concerns the procedure for forming the initial cost of fixed assets. The organization has the right to establish a list of expenses for the creation of fixed assets that are not included in their initial cost. Refusal to include any type of expense in the initial cost of fixed assets will lead to disagreements with regulatory authorities. Disclosure of this information in accounting policies is associated with additional risks.

If an organization operates in the field of IT technologies and meets the criteria established by paragraph 6 of Article 259 of the Tax Code of the Russian Federation, then it has the right to choose the option of accounting for the cost of electronic computer equipment as expenses: either as part of material expenses or in the form of depreciation. If the option of accounting as part of material expenses is chosen, then inclusion in current expenses occurs electively either at a time or in certain shares over more than one reporting period, based on the service life or other economically justified indicator.

If an organization leases or plans to lease fixed assets, it needs to indicate how depreciation of non-recoverable capital investments in leased fixed assets (inseparable improvements) is carried out. Such depreciation is based on either the useful life of the leased asset or the useful life of the permanent improvement itself. The choice of one of the options is made by the organization independently.

The organization has the right to provide for a review of the useful life of an object of depreciable property based on the results of its reconstruction, modernization or technical re-equipment, as well as not to carry out such a review.

In relation to fixed assets that were previously operated by previous owners in the same capacity, the organization establishes a special procedure for determining the useful life - taking into account the service life of the previous owner. This option is optional. The organization has the right to determine the general procedure for determining such a period (that is, without taking into account the period of previous operation).

In the next block, we will consider the information that needs to be disclosed regarding the procedure for calculating depreciation. To begin with, one of two methods is selected: linear (even distribution over the useful life) or non-linear (accelerated write-off in the first years of operation). With the non-linear method, depreciation is calculated not individually for each fixed asset object, but in groups.

Accordingly, when choosing a non-linear method, the organization faces the need to disclose additional information. In particular, it may provide for the liquidation of a depreciation group with a total balance of less than 20,000 rubles (with a one-time transfer of the under-depreciated balance to non-operating expenses) or not to do this (in this case, depreciation is charged until the cost is fully repaid). The choice of option is entirely at the discretion of the organization.

The organization has the right to provide for the use of a “depreciation bonus” (one-time inclusion in expenses of part of the cost of depreciable property). Its use (subject to the restrictions imposed by the Tax Code of the Russian Federation) is permitted both in relation to the initial cost and the costs of increasing it. It is possible to apply a depreciation bonus only in one of the two indicated areas.

With regard to the depreciation bonus, it is possible to either establish a lower threshold for the initial cost of fixed assets and expenses for its increase to which it applies, or waive such a limitation. In the latter case, it is applied to all fixed assets (except for those for which the Tax Code of the Russian Federation directly prohibits its use).

Organizations that have fixed assets that meet the criteria given in paragraphs 1–3 of Article 259.3 of the Tax Code of the Russian Federation have the right to apply appropriate increasing factors to depreciation rates.

If several increasing factors are applied to a fixed asset for different reasons, the organization must choose only one. This is the maximum, minimum or other intermediate coefficient.

In relation to absolutely any fixed depreciable assets, the organization establishes the use of coefficients that reduce the depreciation rate. The accounting policy should indicate a list of groups of depreciable property for which such coefficients are applied, and a link to the document containing this list.

Expense reserve

The next block of this section concerns the formation of expense reserves. The organization has the right to create the reserves listed in the list or not to form them. When choosing to “form” in the accounting policy, additional information must be disclosed.

Organizations that form a reserve for the repair of fixed assets must additionally indicate whether they accumulate funds for particularly complex and expensive repairs of fixed assets over more than one reporting period or not.

Organizations that form a reserve for warranty repairs and warranty service are required to indicate the period during which they sold goods (work) with a warranty period. The size of this period, depending on the characteristics of the organization, is:

• 3 or more years;
• less than 3 years.

This information is necessary to calculate the maximum percentage of deductions to the reserve for warranty repairs and warranty service.

Also, with regard to the reserve for warranty repairs and warranty service, it is necessary to indicate the direction of use of the unspent part of the reserve, that is, whether its balance is transferred to the next year or not. The choice is up to the organization.

Organizations that create a vacation reserve must disclose the methodology for its formation: is it formed in a uniform manner throughout the organization or is it carried out individually for each employee. You can freely choose any of the proposed options, based on the organization’s accepted accounting process scheme.

Organizations that form a reserve for the payment of remuneration for long service must provide a criterion for clarifying its unspent balance carried over to the next reporting year. This criterion is the amount of remuneration per employee, or some other method justified by the organization. The choice of criterion is at the discretion of the organization.

The question regarding the criterion for clarifying the unspent balance of the reserve that is carried over to the next reporting year must also be answered by organizations that form a reserve for the payment of remunerations based on the results of work for the year. Such criteria are:

• amount per employee;
• percentage of the profit received;
• another economically feasible indicator.

The choice of criterion is at the discretion of the organization.

Accounting policy of the organization for tax purposes

APPROVED by Order___________________________ (position of the head of the organization) _________"_________________________" (full name of the organization) ____________________________________ (full name of the head of the organization) dated "__"_________ ____ <*> N ______ Accounting policy of the organization for tax purposes

1. General Provisions

1.1. For the purposes of these Regulations, the accounting policy of _____________ “_________________________________________” is understood as a set of methods (manager position) (name of organization) of accounting - primary observation, cost measurement, current grouping and final generalization of the facts of economic activity, approved by order __________________________ "___________________________".

1.2. This provision has been developed in accordance with the requirements of regulations on tax accounting, taking into account certain requirements of accounting and civil legislation in the Russian Federation, as well as the main provisions of the Accounting Policy of ______________________ (name of organization).

1.3. Adopted _____"___________" (name of organization) Accounting policy developed in order to generate complete and reliable information on the accounting procedure for tax purposes of business transactions carried out by the taxpayer during the reporting (tax) period, as well as providing information to internal and external users to monitor the correctness calculation, completeness and timeliness of calculation and payment of income tax to the budget, taking into account organizational and industry characteristics (name of organization).

1.4. The tax accounting system is organized by ________"____________________" (name of organization) based on the principle of consistency in the application of tax accounting norms and rules, that is, it is applied consistently from one tax period to another.

1.5. Tax accounting data is formed based on the continuity of reflection in chronological order of accounting objects for tax purposes (including transactions, the results of which are taken into account in several reporting periods or are postponed for a number of years).

1.6. The methods of maintaining tax accounting chosen by ______________________ (name of organization) when forming this Accounting Policy are approved by order of the Head of the organization and are consistently applied from “__” _________ ______.

2. Methods for assessing certain types of assets

and obligations of the organization

2.1. The sales date for calculating VAT is the date of receipt of funds for shipped products (goods, works, services).

2.2. Recognition of income for the purposes of calculating income tax and _______________ is carried out using the accrual method at the time of presentation of payment documents for shipped products (goods, work, services).

2.3. Depreciation of fixed assets and intangible assets is calculated for objects using the straight-line method without using reducing factors. Fixed assets costing no more than _______________ rubles are written off as expenses as they are accepted for accounting.

2.4. The assessment of the cost of raw materials and materials used in the production (manufacturing) of products (goods, works, services) is determined by the average price method.

2.5. The assessment of the cost of purchased goods during their sale is carried out using the ____________________ method <**>.

2.6. The valuation of securities upon disposal is carried out using the ____________________ method.

2.7. Delivery costs to warehouses are included in the purchase price of the product.

2.8. A provision for doubtful debts is not created.

2.9. There is no provision for warranty repairs.

2.10. A reserve for future expenses for vacation pay is not created.

2.11. A reserve for future expenses for the payment of annual benefits for long service is not created.

2.12. A reserve for future expenses for the payment of performance-based remuneration is not created.

3. Organizational and technical aspects:

3.1. The procedure for maintaining tax accounting: a list of analytical registers, persons (positions) responsible for their maintenance, the procedure for document flow - are approved in Appendix N __.

3.2. The procedure and frequency of submitting tax reporting, the method of calculating advance payments for income tax, the procedure for paying taxes in the part attributable to separate divisions are approved in Appendix N __.

4. Procedure for applying the Regulations

4.1. It is assumed that the selected tax accounting methods will be applied consistently from year to year.

4.2. Changes in the accounting policies, documented in the relevant organizational and administrative documentation of the organization, may take place from the beginning of the reporting year, unless otherwise determined by the reason for such a change, in the following cases:

— changes in legislation in the Russian Federation;

— changes in accounting methods used;

— significant changes in business conditions. A significant change in the business conditions of an organization may be associated with reorganization, change in types of activities, etc.

4.3. Make additions to the adopted accounting policy of the organization during the tax period in the following cases:

— implementation of new types of activities.

———————————

<*> The accounting methods chosen by the organization when forming its accounting policies are applied from the first January of the year following the year of approval of the relevant organizational and administrative document. (Clause 9 of the Accounting Regulations “Accounting Policy of the Organization” (PBU 1/2008), approved by Order No. 106n dated October 6, 2008 “On approval of accounting regulations”).

<**> In accordance with subparagraph 3 of paragraph 1 of Art. 268 of the Tax Code of the Russian Federation, part two.

Accounting for transactions with securities

Next comes the block related to accounting for securities transactions.

If a transaction with securities meets the criteria for a transaction with financial instruments of futures transactions, then the organization independently classifies the specified transaction for tax purposes as a transaction with securities or a transaction with financial instruments of futures transactions and makes an appropriate note about this in its accounting policy. The selection is based on the professional judgment of authorized personnel within the organization.

In relation to securities that are not traded on the organized securities market, the organization must indicate in its accounting policies the methods for determining their settlement prices. The selection options are presented in the attached list. The organization has the right to choose absolutely any option. It is allowed to use different methods for determining the settlement price depending on the type of securities.

For securities being disposed of, the entity must indicate the method of write-off: either the FIFO method or the unit cost method. It is advisable to apply the unit value valuation method to non-equity securities that assign an individual volume of rights to their owner (check, bill, bill of lading, etc.). On the contrary, the FIFO method is more suitable for equity securities (stocks, bonds, options). They are placed in issues, within each issue they all have the same denomination and provide the same set of rights. The FIFO method is preferably used when the prices of securities being sold are expected to decline.

If an organization carries out transactions for the sale of securities with the opening of short positions on them (that is, the taxpayer sells a security in the presence of obligations to return securities received under the first part of the repo), then the organization must indicate the sequence of closing these positions (purchase of securities of the same issue (additional issue) for which a short position is opened). Closing short positions is done either using the FIFO method or at the cost of the securities for a specific open short position. The organization chooses independently.

If an organization has transactions with non-negotiable securities for which it is impossible to determine the place of conclusion of the transaction, then it has the right to pre-fix in its accounting policies the place of conclusion of the transaction. This is the territory of the Russian Federation, the location of the buyer, seller or another agreed place. If it is still possible to determine the place of the transaction, then the right to choose the organization is not granted.