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Calculation of corporate property tax

The property tax of organizations is a regional tax, which means that the tax rates are established by regional regulations within the limits regulated by the Tax code of the Russian Federation.
The property tax of organizations is a regional tax, which means that the tax rates are established by regional regulations within the limits regulated by the Tax code of the Russian Federation. Taxpayers of property tax are legal entities that own movable and immovable property related to the object of taxation and accounted for as fixed assets on the balance sheet of the enterprise.

Property tax is calculated according to the formula:

Property tax = tax base * tax rate / 100%

Tax base
In accordance with article 375 of the Tax code of the Russian Federation, the average annual value of property is recognized as the tax base. For the purposes of determining the tax base, the property is recorded at its residual value. If, for some reason, depreciation is not provided, the value of the property is calculated as the difference between the original cost of the fixed asset and the amount of depreciation, in accordance with the adopted rules of depreciation.

The tax base should be determined separately for each object of fixed assets.

Average annual value of property
The average annual value of property is calculated as the private of the division of the amount received as a result of addition of sizes of residual value of the fixed asset on the 1st number of each period and the last number of the tax period, on the number of months in the tax period increased by unit (article 376 of the Tax code of the Russian Federation).

For example, on December 25, 2012 the organization received an object of fixed assets worth 650,000 rubles, which was immediately put into operation and put on the balance sheet. The accounting policy States that depreciation is charged on a straight-line basis. The useful life for the fixed asset is provided – 40 months.

Thus, the first depreciation will occur in January 2013. Property tax will need to be paid only for 2013 with the payment of advance payments in the prescribed mode, because the fixed asset entered the organization after the 15th. The monthly amount of depreciation, in accordance with the stated condition, will be 1 354 rubles.

In order to determine the tax base, it is necessary to make an analytical table 1.
Commentary on the calculation of the residual value of property:

The residual value of the property on the 1st day of the month is calculated as the difference between the residual value of the property on the 1st day of the previous month and the depreciation accrued for that month. To calculate the residual value of the property as of 31.12.2013, it is necessary to subtract from the residual value as of 01.11.2013 the depreciation amounts accrued for November and December 2013.

Based on the data obtained, the tax base for 2013 can be calculated.

Average annual value of property = (650 000 + 648 646 + 647 292 + 645 938 + 644 584 + 643 230 + 641 876 + 640 522 + 639 168 + 637 814 + 636 460 + 633 752) / 13 = 593 021 ruble.

Tax base = average annual value of property = 593 021 rubles.

Calculation of corporate property tax
To calculate the property tax, it is necessary to correctly determine the tax rate established in the region of the organization’s location. The Tax code of the Russian Federation stipulates that the property tax rate may not exceed 2.2 per cent.

For example, regional legislation establishes a tax rate on property tax of 1.5 percent.

Thus, the amount of tax will be equal to 8 895 rubles ((593 021 * 1,5) / 100).

Payment of corporate property tax
Article 382 of the Tax code of the Russian Federation provides for the payment of advance payments for each reporting period and the payment of tax for the tax period.

The tax amount is calculated as the difference between the defined tax amount and the calculated advance payments.

The amount of advance payment is calculated as one fourth of the tax rate and the average value of the property for the reporting period. The average cost of property, plant and equipment is defined as the private division of the amount received as a result of the addition of values: the residual value of property on the 1st day of each month of the reporting period and the 1st day of the month following the reporting period, the number of months in the reporting period, increased by one.

For example, on December 25, 2012 the organization received an object of fixed assets worth 650,000 rubles, which was immediately put into operation and put on the balance sheet. The accounting policy States that depreciation is charged on a straight-line basis. The useful life for the fixed asset is provided – 40 months.
For the calculation of amounts of advance payments for tax on property of organizations should take advantage of the already made table 1.
The average cost of property for the first quarter = 647 969 rubles ((650 000 + 648 646 + 647 292 + 645 938) / 4).

The amount of advance payment for the first quarter = 2,430 rubles ((647 969 * 1,5 / 100) * 1/4)

The average cost of property for the second quarter = 643 907 rubles ((645 938 + 644 584 + 643 230 + 641 876) / 4).

The amount of advance payment for the second quarter = 2 415 rubles ((643 907 * 1,5 / 100) / 4)

The average cost of property for the third quarter = 639 845 rubles ((641 876 + 640 522 + 639 168 + 637 814) / 4).

The amount of advance payment for the third quarter = 2 399 rubles ((643 907 * 1,5 / 100) / 4)

The amount of tax for 2013 = 1 651 rubles (8 895 – 2 430 – 2 415 – 2 399)

Terms of payment of the property tax of the organizations and advance payments on it, are established by the regional tax legislation.

In accordance with the data of the considered example, the organization must transfer for the 1st quarter – an advance payment of 2,430 rubles, for the 2nd quarter – an advance payment of 2,415 rubles, for the 3rd quarter – an advance payment of 2,399 rubles, for 2013 – a tax of 1,651 rubles.

We hope that with the help of world Councils you can easily and accurately calculate the tax on the property of your organization.

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