Agreement in foreign currency (dollars, euros), payment in rubles. The ruble exchange rate is fixed in the contract. VAT and income tax

When concluding a contract with a Russian organization, the director wants to tie the cost of the contract to the dollar or euro exchange rate, or even fix the exchange rate in order to insure himself against its fluctuations. In this case, the accountant must remember that this will require additional study of the legislation, because it is necessary to correctly reflect these transactions in accounting and tax accounting and correctly determine the base for VAT and income tax. Indeed, in some cases they will differ.

So, the terms of the contract may stipulate that the price of the contract is a conventional monetary unit, dollar or euro, subject to conversion into rubles on the date of payment and tied to the official exchange rate or another rate fixed in the contract. This allows us to do paragraph 2 of Article 317 of the Civil Code of the Russian Federation.

The ruble exchange rate is fixed in the contract

Let's consider a situation where the ruble exchange rate in the contract is not specified as the official rate of the Central Bank of the Russian Federation, but is fixed
somehow differently - with a certain value, or is set, for example, as the rate of the Central Bank of the Russian Federation + 2%. What will happen to the tax base for value added tax (VAT) and income tax?

VALUE ADDED TAX

In this case, everything depends on the date of payment and the date of fulfillment of obligations under the contract. Therefore, we will consider 3 options for the development of events. But first, let’s highlight the main legislative norms relating to VAT calculations in conventional units, dollars and euros.

Clause 1 of Article 167 of the Tax Code of the Russian Federation and clause 14 of Article 167 of the Tax Code of the Russian Federation.

Determines the moment of the tax base. It turns out that in our situation this is the earliest date: receipt of advance payment, or provision of a service (shipment of goods). Moreover, if the moment of determining the tax base is the date of payment, then on the date of shipment, on account of the previously received payment, the moment of determining the tax base also arises.

Clause 4 of Article 153 of the Tax Code of the Russian Federation.

Gives us the right to consider the moment of determining the tax base for VAT the day of shipment of goods, while when determining the tax base, the conventional monetary unit is recalculated into rubles at the rate of the Central Bank of the Russian Federation on the date of shipment of goods. Upon subsequent payment, the tax base will not be adjusted, and the resulting differences will have to be attributed to non-operating income or expenses.

These are the main legislative norms on which we rely. In addition, we mention the Letter of the Ministry of Finance dated 07/06/2012 No. 03-07-15/70, which should be used in the work and brought to the attention of taxpayers and tax authorities. The main essence of the letter: the received full prepayment (100%) gives the right not to recalculate the tax base for VAT at the rate of the Central Bank of the Russian Federation on the day of shipment of the goods.

All other letters from the Ministry of Finance and tax authorities devoted to this issue do not contain legal norms and are not addressed to a wide range of taxpayers, and therefore cannot be used in our conclusions.
1. We have received 100% prepayment to the settlement account for the future shipment of goods (performance of work, provision of services).
Using the Letter of the Ministry of Finance dated July 6, 2012 No. 03-07-15/70, we can conclude that upon receipt of 100% prepayment, we can use As a tax base for VAT, our fixed rate established by the agreement

, on the date of payment.
An example of VAT calculation with 100% prepayment.
A contract for the provision of services has been concluded. The cost of services is 1000 dollars, while the ruble exchange rate against the dollar is set at 54 rubles per 1 dollar. The contract provides for 100% prepayment. On the date of payment, the exchange rate of the Central Bank of the Russian Federation was 59 rubles per 1 dollar.

The customer pays 100% of the cost of the service in the amount of $1,000 at the rate of 54 rubles per $1.
The contractor receives 54,000 rubles into the account. VAT in the amount of 54,000*18/118=8,237 rubles will be charged on the prepayment amount. The cost of services provided after receiving full prepayment will no longer change for VAT purposes. The VAT amount will be fixed and on the date of service provision will remain at the level of 8,237 rubles. 2. Partial payment has been received to the bank account for the future shipment of goods (performance of work, provision of services).
If partial payment is received, then for the purposes of calculating VAT it is necessary to use only the official exchange rate of the Central Bank of the Russian Federation

and calculate VAT on the date of payment at the official rate, despite the fixed rate stipulated in the contract. At the time of provision of the service, the tax base will be determined for the unpaid part of the service at the rate on the date of provision of the service, and the prepaid part of the service, for the purpose of calculating VAT, has already been recorded as an advance payment.

Example of VAT calculation for partial payment

A contract for the provision of services has been concluded. The cost of services is $1,000, while the ruble/dollar exchange rate is fixed in the contract at 54 rubles per $1. The contract provides for 50% prepayment. On the date of prepayment, the official exchange rate of the Central Bank of the Russian Federation was 59 rubles per 1 dollar. On the date of service provision, the official exchange rate of the Central Bank of the Russian Federation is 60 rubles per dollar. On the date of subsequent payment for services, the official exchange rate of the Central Bank of the Russian Federation is 62 rubles per dollar.

The customer pays 50% of the cost of the service in the amount of 500 dollars at the rate of 54 rubles per 1 dollar (the rate fixed in the contract). The contractor receives 54*500=27,000 rubles into the account. But, for the purposes of calculating VAT, the tax base will be calculated from the cost of 500 dollars multiplied by the official exchange rate of the Central Bank of the Russian Federation

59 rubles/dollars, i.e. from the amount of 29,500 rubles. VAT in the amount of 4,500 rubles will be charged on the prepayment amount.

At the time of service provision, the official exchange rate of the Central Bank dollar is 60 rubles and the balance of our unpaid amount is 500 dollars. For the purposes of calculating VAT, it is necessary to take the official exchange rate of the Central Bank on the date of provision of the service

, therefore, the tax base for the purposes of calculating VAT will be 60*500=30,000 rubles and VAT on this cost will be 4,576 rubles.
The customer will pay at the rate fixed in the contract, i.e. 54 rubles per dollar, and an amount of 27,000 rubles will be credited to the current account. When paying after the service is provided, VAT will not be recalculated
on the date of payment 62 rubles/dollar, its amount is calculated
at the official exchange rate of the Central Bank of the Russian Federation on the date of service provision - 60 rubles ./Doll.
and will amount to 4576 rubles.
3. The goods are shipped in full (work completed, service provided) and only after that payment is received.
In this case, the rule of paragraph 4 of Article 153 of the Tax Code of the Russian Federation applies. VAT will be calculated on the date of sale of goods (rendering of services) at the official rate of the Central Bank of the Russian Federation

and its amount will not change in the future.
An example of VAT calculation for payment after shipment.
A contract for the provision of services has been concluded.
The cost of services is $1,000, while the ruble to dollar exchange rate is fixed in the contract at 54 rubles per $1. The contract provides for postpayment. On the date of service provision, the exchange rate of the Central Bank of the Russian Federation was 59 rubles per 1 dollar. On the date of subsequent payment for services, 62 rubles per dollar. At the time of provision of the service, VAT will be calculated on the amount of 59,000 rubles in the amount of 9,000 rubles, based precisely on the official exchange rate of the Central Bank, although the act in rubles will be issued in the amount of 54,000 rubles, precisely at a fixed rate. This tax amount will not change in the future, upon receipt of postpayment. INCOME TAX
Clause 8 of Article 271 of the Tax Code of the Russian Federation. We calculate income on the date of service provision

(shipment of goods, performance of work)
at the rate specified in the contract
.
If the company received an advance, then the amount of proceeds from the sale is determined at the official rate established by the Central Bank of the Russian Federation on the date of receipt of the advance
or the rate fixed in the contract, depending on which rate is linked to in the contract.

Sale of goods under a contract linked to currency equivalent or conventional monetary units

RECOGNITION OF AMOUNT DIFFERENCES IN ACCOUNTING

Often, trading organizations, trying to eliminate the adverse consequences of instability of the national currency, set the contract price in foreign currency (or conventional monetary units). This possibility is provided for in paragraph 2 of Article 317 of the Civil Code of the Russian Federation (hereinafter referred to as the Civil Code of the Russian Federation), according to which, a monetary obligation may stipulate that it is payable in rubles in an amount equivalent to a certain amount in foreign currency or in conventional monetary units. In this case, the amount payable in rubles is determined at the official exchange rate of the relevant currency or conventional monetary units on the day of payment, unless a different rate or the date of its determination is established by law or by agreement of the parties. In accordance with paragraph 1 of Article 140 of the Civil Code of the Russian Federation, the legal means of payment, obligatory for acceptance at face value throughout the Russian Federation, is the ruble. Consequently, all cash and non-cash payments on the territory of the Russian Federation must be carried out in rubles, except in cases specifically established by law.

The parties to the agreement independently determine on what day the price of the agreement is recalculated in ruble equivalent, therefore, the price of the agreement will be determined based on the foreign exchange rate valid on the date agreed upon by the parties to the agreement.

Usually, when concluding a contract, the seller and buyer set the following dates for recalculating the price in ruble equivalent:

· based on the foreign currency exchange rate on the day the buyer pays for the goods;

· based on the foreign currency exchange rate on the day of transfer of ownership of the goods to the buyer, otherwise, on the day of shipment.

Note that, as a rule, as the date of conversion into national currency of an obligation expressed in foreign currency, business entities set the date of payment for shipped goods; The following courses apply:

· official exchange rate of the Central Bank of the Russian Federation;

· rate (purchase or sale) of a certain currency exchange;

· exchange rate of the Central Bank of the Russian Federation or a currency exchange, increased (decreased) by a certain percentage;

· any other ratio of foreign currency and ruble agreed upon by the parties to the transaction.

When expressing a liability in foreign currency or conventional monetary units, it is necessary to distinguish between the currency of the debt and the currency of payment. The debt currency is the monetary units in which the economic value of the obligation is represented (foreign currency or conventional monetary units), and the payment currency is the monetary units in which the obligation is fulfilled (national currency - rubles).

Example 1.

If the rate of the Central Bank of the Russian Federation on the date of payment is 29.7 rubles per 1 US dollar, then the condition “payment at the rate of the Central Bank of the Russian Federation + 3%” means that the transaction should apply the rate of 30.59 rubles per 1 US dollar (29.7 / 100% x 103% = 30.59).

End of the example.

Note!

Since funds are credited to the settlement account of the recipient (seller) 1-2 days from the date of their transfer from the payer’s (buyer’s) settlement account, therefore, the agreement of the parties must specifically stipulate that the date of payment should be considered the day the funds are debited from the payer’s settlement account (buyer).

If the procedure for determining the payment date stipulates that the payment date is the day the bank credits funds to the recipient’s (seller’s) current account, then the situation will develop as follows: the payer (buyer) will not be able to pay the full amount of his obligations, since at the time of preparing the payment document, he will not know the day the counterparty to the transaction received the money and the foreign currency exchange rate at that point in time.

If the parties do not agree at all on the procedure for determining the payment date, then the following situation may arise: the payer (buyer) will determine the rate by the date the bank writes off money from his current account, and the recipient (seller) will determine the rate by the date the bank credits the money to his current account. check. As a result, in order to liquidate the outstanding portion of the debt to the seller, which was formed as a result of a temporary gap in the recalculation of funds, the buyer will be forced to make additional payments.

Example 2.

According to the terms of the purchase and sale agreement, the buyer must pay the seller for the goods an amount in rubles equivalent to 100,000 US dollars (including VAT - 18%), at the exchange rate of the Central Bank of the Russian Federation at the time of payment. The moment of transfer of ownership is the shipment of goods. Since the parties to the transaction did not specify the procedure for determining the moment of payment, the buyer determined the payment date at the time the bank withdraws money from his current account (February 3, 2005), and the seller determined the payment date at the time the money arrived in his current account (February 4, 2005) . The exchange rate of the Central Bank of the Russian Federation on February 3, 2005 was 28.5252 rubles per 1 US dollar, and on February 4, 2005 – 28.6205 rubles per 1 US dollar.

As a result, discrepancies arose in settlements between the seller and the buyer:

The seller used the day the money was received in his current account as the date of recalculation. According to him, the buyer should have received an amount of 2,862,050 rubles (28.6205 rubles x $100,000). The buyer transferred the amount of 2,852,520 rubles (28.5252 rubles x $100,000).

Thus, according to the seller, the buyer owed him an amount in rubles equivalent to 332.98 US dollars, which is 9,530 rubles as of February 4.

End of the example.

As can be seen from the example, the procedure for determining the payment date, fixed by the parties to the agreement, is of significant importance.

If the exchange rate of a foreign currency against the ruble on the established date of conversion increases compared to its value on the date of shipment of goods, the seller will receive additional income, since the buyer will transfer to the seller an amount exceeding the cost of the goods calculated at the time of their shipment.

If the exchange rate of a foreign currency against the ruble during the period between the shipment of goods and payment for them decreases, the buyer will pay less than he would have paid at the cost formed at the time of shipment of the goods.

If the contract stipulates that the goods are subject to payment under the terms of a currency clause, then for the buyer the purchase price of the goods will represent the amount actually paid to the supplier in rubles. Thus, the cost of goods determined at the time of their acceptance for accounting is (in the case of subsequent payment) the preliminary purchase value. The final purchase price of goods is formed only after full settlement with the supplier. This provision fully complies with the requirements of paragraph 1 of Article 11 of the Federal Law of November 21, 1996 No. 129-FZ “On Accounting”, which establishes that the assessment of property acquired for a fee is carried out by summing up the actual expenses incurred for its purchase. Consequently, any asset purchased for a fee must be accounted for at the actual cost of its purchase. The amount of payment (disposal of an asset) is determined from the price and conditions established by the agreement between the organization and its counterparty (clause 6.1 of PBU 10/99, approved by Order of the Ministry of Finance of the Russian Federation dated May 6, 1999 No. 33n “On approval of the Accounting Regulations “Expenses of the Organization” PBU 10/99″ (hereinafter referred to as PBU 10/99).

For the seller, sales turnover will be the total amount of funds received. The amount of receipts and (or) receivables is determined based on the price established by the agreement between the trade organization and the buyer (clause 6.1 of PBU 9/99, approved by Order of the Ministry of Finance of the Russian Federation dated May 6, 1999 No. 32n “On approval of the Accounting Regulations “Organization’s Income” "PBU 9/99" (hereinafter referred to as PBU 9/99)).

Thus, the peculiarity of a transaction concluded under a currency clause is that the final formation of the purchase (sale) price of goods occurs only after full settlement.

In their economic essence, amount differences represent a change in the purchasing power of the currency of payment between the dates of acceptance for balance sheet accounting (shipment) and payment for purchased (sold) values.

It should be noted that when establishing the contract price in conventional monetary units (foreign currency), amount differences in the accounting of the seller and the buyer do not always arise.

This occurs in cases where during the execution of the contract there was no change in the exchange rate of the ruble in relation to the conventional monetary unit (foreign currency). Or in a situation where payment and shipment of goods occur simultaneously.

At the same time, other options are possible when the contract price is expressed in conventional monetary units (foreign currency), but no amount differences arise for any of the parties to the contract.

The occurrence or absence of amount differences is related to the terms of the contract and depends on the following established by the parties to the contract:

· the date on which the ruble equivalent of the price of goods is determined;

· payment procedure (including the availability of advance payment);

· the moment of transfer of ownership of the goods sold;

· other terms of the contract that affect the recalculation of the ruble equivalent of the contract price (in particular, a complex algorithm for establishing the contract price, for example, taking into account discounts for sales volume).

The occurrence of amount differences for the seller depends on what happened first: the shipment of goods or their payment. When receiving advance payment for goods (this happens often in wholesale trade), the seller should be guided by paragraph 3 of PBU 9/99, according to which advance payment is not recognized as income (revenue). In the case of full prepayment in accordance with the terms of the agreement, in which the date for determining the foreign currency exchange rate is the day of payment, the price of the goods sold in ruble equivalent on the date of recognition of revenue in accounting (date of shipment) coincides with the ruble valuation of this product at the time of prepayment. Thus, the seller does not have any amount differences when receiving full advance payment for the goods sold.

If the advance payment is not received by the seller in full, or if the buyer pays for goods sold later than shipment, then the seller, depending on the increase or decrease in the exchange rate, experiences positive or negative amount differences. Positive amount differences increase the income of the seller (supplier), and negative ones decrease it (clause 6.6 of PBU 9/99).

Amount differences arising from the sale of goods related in accounting to income and expenses from ordinary activities, in accordance with Order of the Ministry of Finance of Russia dated October 31, 2000 No. 94n “On approval of the Chart of Accounts for accounting of financial and economic activities of enterprises and Instructions for its application” , are reflected in account 90 “Sales”. At the same time, the debt to the budget for value added tax is adjusted.

The sale of goods under the terms of a currency clause and the accrual of VAT payable to the budget is reflected by the entry:

If on the date of payment for previously shipped goods under a transaction under the terms of a currency clause, there was a change in the exchange rate of foreign currency or a conventional monetary unit, then the seller must adjust the proceeds and, accordingly, the amount of VAT previously calculated based on the sales price at the time of shipment of the goods.

Note!

These accounting entries are made in the usual way (if the payment currency rate in relation to foreign currency or conventional monetary units has decreased) or using the “red reversal” method (if the payment currency rate has increased).

This is reflected in accounting as follows:

Note!

The Letter of the Ministry of Finance of Russia dated July 8, 2004 No. 03-03-11/114 “On the taxation of amount differences” states that in the event of a negative amount difference, the amounts of accrued VAT are not adjusted under the shipping accounting policy. However, in our opinion, this position is not entirely legal. In this case, tax department specialists turn to the provisions of Article 162 of the Tax Code of the Russian Federation. This article only provides for an increase in the tax base for all amounts of funds received related to payment for goods (work, services) sold. Hence the conclusion that positive amount differences increase the tax base for VAT, while negative ones do not affect the amount of tax. That is, in the event of negative amount differences, the tax base calculated at the foreign currency exchange rate on the date of shipment is not subject to adjustment. Let's see how legal it is to apply Article 162 of the Tax Code of the Russian Federation (hereinafter referred to as the Tax Code of the Russian Federation) in relation to amount differences? Is it possible to consider the amount differences arising during settlements under contracts concluded in conventional units as amounts associated with payment for goods (work, services) sold? This approach does not seem entirely justified. Amount differences are not “amounts associated with payment for goods sold,” but an integral part of the cost of shipped products. This is a cost deviation that is identified when the final price is formed under the terms of the contract. And the cost of shipped goods (work, services), which was reflected in accounting on the date of shipment, is only a preliminary assessment of the subject of the contract. We are allowed to calculate VAT using the preliminary tax base by paragraph 2 of Article 153 of the Tax Code of the Russian Federation, according to which income is taken into account if it is possible to estimate it and to the extent that it can be estimated. Under contracts drawn up in conventional monetary units, this possibility exists. The income received by the supplier can first be determined by the foreign exchange rate on the day of shipment, this is a preliminary estimate of income. And later, at the time of receiving money from the buyer, the seller will have the opportunity to determine the final amount of income. That is, he must again apply the norms of paragraph 2 of Article 153 of the Tax Code of the Russian Federation and evaluate the income received, but in a different “measure” - at the rate of the corresponding foreign currency on the day of payment.

Since the total amount of VAT payable to the budget is calculated based on the results of each tax period, taking into account all changes that increase or decrease the tax base in the corresponding tax period (clause 4 of Article 166 of the Tax Code of the Russian Federation), in the case where, under the terms of the contract, payment for goods ( works, services) is produced in rubles in an amount equivalent to the amount in foreign currency (conventional monetary units), the tax base for VAT should be determined taking into account the amount differences, as amounts that increase or decrease revenue from the sale of goods (works, services).

This is exactly the position expressed in the Letter of the Ministry of Taxes and Taxes of Russia dated May 31, 2001 No. 03-1-09/1632/03-P115 “On the procedure for accounting for value added tax on amount differences.” As you can see, the positions are completely different.

In our opinion, the point of view of the Ministry of Taxes, with the accounting policy of “payment”, and the point of view of the Ministry of Finance, with the accounting policy of “shipment”, are more justified. Confirmation can also be the situation that develops with the buyer (customer) when he purchases goods (work, services) subject to VAT, and uses his right to reduce the calculated amount of tax by tax deductions established by the Tax Code of the Russian Federation, defined as the amount of VAT presented to the taxpayer and paid by him when purchasing goods (works, services) on the territory of the Russian Federation.

Paragraph 2 of Article 171 of the Tax Code of the Russian Federation stipulates that tax amounts presented to the taxpayer and paid by him upon the acquisition of goods (work, services) are subject to deduction after registration of these goods (work, services), provided that they are used to carry out transactions recognized objects of taxation. Thus, in the case when, in accordance with the concluded agreement, payment for goods (work, services), calculated on the basis of conventional monetary units, is made in Russian rubles, the entire amount of tax actually paid to the supplier must be deducted from the taxpayer. This means that the difference arising as a result of setting the contract price based on the exchange rate of a conventional monetary unit or foreign currency (total difference) may increase or decrease the amounts to be included in tax deductions.

Example 3.

Saturn LLC, in accordance with the concluded agreement, sold goods whose cost was 11,800 US dollars, including VAT of 1,800 US dollars. Title passes to the buyer at the time of shipment (February 2, 2005). Payment by the buyer was made on February 7, 2005. The cost of goods sold is 250,000 rubles. In accordance with the terms of the contract, payment for goods is made in rubles at the exchange rate of the Central Bank of the Russian Federation in effect on the date of payment.

The official US dollar exchange rate was:

-February 2, 2005 – 27.96 rubles/dollar;

-February 7, 2005 – 27.98 rubles/dollar;

The following entries have been made in the accounting records of Saturn LLC:

Many Russian firms prefer to enter into commercial contracts with domestic partners in foreign currency. Legislatively, this possibility is provided for by Federal Law No. 173-FZ “On Currency Regulation and Control” of December 10, 2003. However, it is prohibited to make payments under an agreement between residents of the Russian Federation in euros and dollars (Article 9 of Law No. 173-FZ).

Residents and non-residents can pay bills in foreign currency (Article 6 of Law No. 173-FZ). Therefore, all payments for contractual obligations between domestic companies are made in Russian rubles.

The ruble exchange rate in the agreement is tied to the official exchange rate of the Central Bank of the Russian Federation

Let's consider a situation where the rate in the contract is tied to the official rate of the Central Bank of the Russian Federation. In this case, everything is simple: the exchange rate is taken by the official Central Bank of the Russian Federation on the date of prepayment in the case of prepayment, on the date of shipment in the case of postpayment:

• with 100% prepayment, VAT and income tax are calculated at the rate of the Central Bank of the Russian Federation on the date of prepayment;
• in case of partial payment, VAT and profit tax on prepayment are calculated at the rate of the Central Bank of the Russian Federation on the date of prepayment, VAT and profit tax on postpayment - at the rate of the Central Bank of the Russian Federation on the date of shipment (performance of work, provision of services);
• for postpayment - VAT and income tax on postpayment - at the rate of the Central Bank of the Russian Federation on the date of shipment (performance of work, provision of services).