Accounting financial accounting. Organizational property tax (most important)

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Accounting financial accounting. Organizational property tax (most important)

Lecture notes, cheat sheets

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20. TAX ON PROPERTY OF ORGANIZATIONS

The property tax is established by Chapter 30 of the Tax Code of the Russian Federation. It is put into effect on the territory of a particular region by the law of the subject of the Russian Federation. In accordance with Chapter 30 of the Tax Code of the Russian Federation payers property tax are Russian enterprises and foreign organizations operating in the Russian Federation through permanent representative offices and (or) owning real estate.

The tax base for the property tax of Russian enterprises is determined based on the value of fixed assets recognized as such in accordance with the established accounting procedure (including property transferred for temporary possession, use, disposal or trust management, contributed to joint activities, accounted for on the balance sheet as objects fixed assets in accordance with the established accounting procedure).

Not recognized as objects taxation:

▪ land plots and other environmental management facilities (water bodies and other natural resources);

▪ property owned by the right of economic management or operational management to federal executive authorities, in which military and (or) equivalent service is legally provided for, used by these authorities for the needs of defense, civil defense, security and law enforcement in the Russian Federation.

For the purposes of taxation, the average annual value of the property of an enterprise recognized as an object of taxation is determined.

Article 381 of the Tax Code of the Russian Federation provides tax exemptions for certain types of organizations. The maximum tax rate on the property of an enterprise cannot exceed 2,2% of the taxable base. Specific tax rates on the property of enterprises, determined depending on the categories of enterprises or property, are established by the legislative (representative) bodies of the constituent entities of the Russian Federation. The tax amount is calculated and paid to the budget on a quarterly basis, and recalculated at the end of the year. By decision of the constituent entities of the Russian Federation, reporting periods may not be established, in which case the tax is paid annually.

The amount of the advance tax payment is calculated at the end of each reporting period in the amount of ¹/4 of the product of the relevant tax rate and the average value of the property determined for the reporting period. For foreign organizations, the tax advance is calculated as ¹/4 of the inventory value of the real estate object as of January 1 of the year that is the tax period, multiplied by the corresponding tax rate.

Accounting for the settlements of organizations with a budget for the property tax of enterprises is kept on the balance sheet account 68 "Calculations on taxes and fees" on a separate sub-account "Calculations on property tax".

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