Issues of improving tax accounting of fixed assets and their depreciation

UDC 657

Authors

Getman V.G.,
Doctor of Economics, Professor, Professor, Department of Accounting, Analysis and Audit, Financial University under the Government of Russia, Moscow, Russia

Abstract

The subject and main topic of the study are the current provisions on tax accounting of fixed assets and their depreciation. The content of these documents and their interpretation, as well as their application, cause numerous problems. The article outlines the problematic issues in the regulatory framework of the area under consideration and suggests ways to improve it. The methods of comparative analysis, systematization, induction, deduction are used.
The article discusses a set of issues related to property tax. The main stages in which fundamental changes were made to the procedure for its collection from taxpayers were analyzed. Disclosed are the discussion points of the current provisions regarding the composition of property subject to this tax; the procedure for allocating VAT from the cadastral value of real estate; the established dates for the beginning and end of the calculation of property tax on the facility; providing benefits for this tax on real estate with high energy efficiency. A number of current rules on the depreciation of fixed assets were also critically evaluated. Assumptions have been made to improve the regulations in force in this area.

Keywords

property tax, movable and immovable property, cadastral value of real estate, depreciation of fixed assets.