Enterprises engaged in export activities are obliged to maintain separate accounting records for foreign trade operations, the taxation of which has its own characteristics. Below are the main provisions of the legislation of the Russian Federation governing the accounting for the export of goods, as well as answers to frequently asked questions related to it.
To obtain reliable information, accounting for the export of goods is carried out on separate subaccounts, which allows us to divide in the account ordinary and foreign economic activities. The features of accounting and tax accounting for the export of goods include:
1. Calculations under the export contract are most often carried out in foreign currency. For this you need:
open currency accounts for each currency separately, and use account 52 for settlements with the counterparty: Dt 52 Ct 62;
master the currency purchase and sale operations and reflect them in the report using the account 57 for this purpose (or the account 91 depending on the adopted accounting policy)
2. Accounting for the export of goods is carried out by the company separately from the rest of the accounting, which is due, on the one hand, to the requirements of legislation, and on the other, the need to achieve the following objectives, which include:
separation of data on accounting for the export of goods from information on activities subject to VAT at other rates or exempt from this tax;
control over the completeness of receipt of payment from foreign contractors;
use the opportunity not to charge VAT on advances received from foreign buyers;
monitoring compliance with the time required to confirm the right to use the zero rate
The most time-consuming in the accounting of exports of goods – is the VAT posting. The correctness of VAT accounting allows you to receive a tax deduction, in case of confirmation of the right to apply a zero VAT rate. In this regard, special attention should be paid to:
tax accounting for direct export costs;
distribution of VAT on indirect costs to determine its part attributable to exports;
correctness of paperwork regarding VAT;
meeting deadlines for the preparation of documents confirming the right to tax deductions;
recovery of VAT, taken to the deduction, and then attributed to export operations;
compliance with the established deadlines for tax accounting for the export of goods for unconfirmed as well as later confirmed shipments;
there is a high probability of mismatch between the periods of accounting for export shipment for the purposes of income tax and confirmation of the right to deduct VAT on it, which leads to a mismatch of the tax bases for profits and VAT in the same tax period.
Features of tax clearance
When the goods cross the border, the exporter charges and pays the VAT at the usual rate. The basis for calculating the VAT is the sum of the value of the goods according to the declaration, as well as duties and excise. If VAT is not paid, the goods will not be able to leave the temporary storage area at customs. If a payment is delayed, an amount of interest will be charged on the unpaid amount. Upon subsequent confirmation of export, the amount of the paid “unconfirmed” VAT exporter may take a deduction if the following conditions are met:
This product is registered.
Revenue from transactions with goods subject to VAT.
All primary documents are collected for the goods and their transportation.
Customs VAT paid in full.
If a simplified taxation scheme is used, when accounting for the export of goods, VAT is not applied to the deduction. In this case, the actions with VAT depend on what object of taxation is used. If “income” is used as an object of taxation, then VAT is included in the price of the goods or fixed asset. When applying the “income minus expenses” scheme, the tax amount is included in the expenses reducing the taxable base.