All fixed assets that have an assessed tax type code entered in the fixed assets book are included in the calculation of property tax, with the exception of fixed assets that are in the Planned Fixed Asset category. The calculation includes all fixed assets that were written off or sold during the accounting period. If a fixed asset is written off or sold in the middle of the accounting period, the property tax calculation will include the month in which the write-off or sale was completed.

The tax base for property tax is determined as the annual average value of the taxable property for the tax accounting period, which is considered to be a full calendar year. Accounting periods are one quarter, six months, and nine months of the calendar year.

The annual average value of the property in a tax accounting period is calculated as the sum of net book values on day 01 of each month of the tax accounting period and day 01 of the month following the tax accounting period, divided by the number of months in the tax accounting period, plus one.

You can calculate the property tax registers using these periodic tax registers:

  • Cost calculation– Calculates the net book value of owned fixed assets, as of day one of each month, in the accounting period individually for each fixed asset. For each fixed asset, specify whether it belongs to Real property, Tax-exempt property, or Distributed (dispersed) property.

  • Total of net book value calculation– Calculates the totals on the basis of the net book value calculation register. The totals for the net book value of Real property and Tax-exempt property are calculated separately.

  • Assessed tax– Calculates the average value of property (both taxable and tax-exempt), the distributed shares for extended assets, the tax base, the advance payment total for the accounting period, or the tax total for the year using the data from the Total of net book value calculationregister.

Every register is created on the basis of the National Classifier of Administrative and Territorial Subdivisions (RCOAD) and the Budgetary Classification Code (BCC) tax codes, and contains information pertinent to property tax declaration (Order of the RF Ministry of Taxes and Levies of 23.03.2004 No. SAE-3-21/244).

  1. Click Fixed assets> Common Forms> Tax register journal.

  2. Press CTRL+N to create a new journal.

  3. In the Journal numberfield, enter the unique tax register journal number.

    Note Note

    By default, this field displays the number from the number sequence set up in the Fixed Asset Parametersform.

  4. In the Period type, Period number, and Yearsfields, specify the period for which the journal will be created.

  5. Click Linesto create the periodic register journal lines.

  6. Click Yesin the Register journal generationdialog box to create register lines with the Not Calculatedstatus.

  7. Select the Cost calculationregister line, and then click Register calculation> Calculate current.

  8. Select the Total of net book value calculationregister line, and then click Register calculation> Calculate current.

  9. Select the Assessed taxregister line, and then click Register calculation> Calculate current.

    Note Note

    After calculation, the status of the registers is displayed as Calculatedin the Statusfield.

  10. Select the Approvedcheck box to approve the register.

  11. In the Employeefield, view or modify the code of the employee who approved the register.

    Note Note

    Click Register linesto open the Register linesform to view the register lines after calculation.

  12. Press CTRL+S or close the form.

    Note Note

    When you create the journal for a year in the Assessed taxregister, the total of the advance payments that were paid for the previous accounting periods is calculated. If the journals for these periods were not created, the advance payments total for the previous accounting periods can be entered manually.

See Also