Features of accounting for export and import transactions

Import is the import of products into the Russian Federation from abroad, and export is the sale of products to foreign contractors and their export abroad. Both operations require special accounting.

Question: We import goods and carry out voluntary certification before selling them. Can we take into account these costs as expenses for profit tax purposes, taking into account the fact that these are not our products and certification of this product is not required? View answer

Features of accounting for import transactions

Keep records of exports and imports using the simplified tax system in the Kontur.Accounting web service.
Currency accounting and work instructions, taxes, automatic payroll calculation and reporting in one service Get free access for 14 days Firstly , import transactions are carried out in foreign currency. For accounting purposes, it is important to correctly convert it into rubles. Conversion occurs at the rate of the Central Bank of the Russian Federation, which changes daily, so exchange rate differences arise.

The difference can be positive or negative. A positive one is formed if you received income from a change in the exchange rate, a negative one - vice versa.

Secondly , taxation and customs duties. In addition to taxes in accounting, carry out operations to pay customs duties and fees, which are included in the cost of the purchased goods (clause 6 of PBU 5/01).

Thirdly , the formation of the cost of goods. In accordance with clause 6 of PBU 5/01, in addition to customs duties, fees and taxes, the cost of imported goods includes:

• directly the amount under the contract;
• amounts to third parties for consultations and services (for example, customs brokerage services);
• delivery costs;
• intermediary remuneration;
• and other costs.

You also encounter other operations on the domestic market - settle payments with a counterparty, pay value added tax, capitalize goods, refund VAT.

Incoterms 2021 provisions

It is a set of eleven rules applied in international trade, reflecting the rights and obligations of each party to the contract in relation to the delivery of goods from the seller to the buyer. Incoterms 2021 rules are in effect from 1 January 2021, but earlier versions can also be used. They reflect current trade practices around the world. The main purpose of this set of rules is to simplify the understanding of a foreign trade contract, distribute obligations and expenses between the parties to the transaction (payment for transportation, costs for customs reporting and duties, transfer of ownership and risks of loss, etc.). Contains 4 groups of basic delivery conditions (table):

VAT on imports: what you need to know

The Tax Code of the Russian Federation does not make any special differences in taxation between domestic sales and imports: rates of 20 and 10 percent are applied (if the sale of such goods on the territory of the Russian Federation is taxed at the appropriate rate). However, remember that you will have to pay VAT at customs, because without this, the goods will not be released from the temporary storage area at customs. For late payment, be prepared to incur penalties.

Differences in accrual begin from the moment of the tax base - when importing goods, include, in addition to the cost of the product according to the declaration, also customs duties and excise taxes.

You can deduct import VAT. To do this, you must pay tax at customs and confirm the costs incurred for the purchase with the appropriate documents.

SYSTEM: VAT cannot be deducted. The tax amount is included in the cost of the goods under the object of taxation “Income” or is included in the composition of expenses during taxation under “Income minus expenses”.

This type of operation is the exact opposite of import: goods are exported from the country, and there is an obligation to declare the goods and pay customs duties.

Accounting for export transactions should be kept separately from other sales transactions, since they are subject to a special VAT rate.

Let us highlight some accounting features:

1. All payments are made both in rubles and foreign currency. To do this, the company must open foreign currency accounts in a bank and keep accounting using account 52 - create your own sub-account for each currency. Exchange differences are usually taken into account as part of other income and expenses.
2. The transfer of ownership often does not coincide with the date of shipment of the goods. It all depends on what rules according to Incoterms 2021 were defined in the contract. Important! All conditions of export deliveries should be specified in the contract as precisely as possible - this will avoid most mistakes.
3. In essence, sales transactions do not differ from the option of selling goods on the territory of our country.

To facilitate accounting, export sales transactions can be accounted for in separate subaccounts. Since customs duties must also be paid when exporting and declaring goods, specific transactions are added, such as:

Accounting for the reflection of export VAT deserves special attention. The company has the right to apply a 0 percent rate. But only if the company can confirm the right to use it. To do this, provide the following documents to the tax authorities:

• contract with a foreign counterparty;
• an extract from a credit institution confirming receipt of funds in payment for the delivery;
• a copy of the customs declaration with notes from the customs inspector;
• copies of other documents to confirm export.

For everything – a period of 180 calendar days. Did not have time? The company loses the right to apply a zero rate for export operations. Therefore, you will have to recalculate the tax amount at a rate of 20 percent (10 percent for certain types of goods according to the Tax Code of the Russian Federation).

VAT on advances. In this case, you must pay VAT on the amount of the advance received. Request a refund of the amount paid once title has passed to the buyer. A separate tax return is submitted for this purpose.

Tax deductions. The amounts of tax on advances made by foreign buyers, as well as the amounts of VAT that were paid to counterparties in the production of export goods, are subject to deduction. The right to deduction arises either on the last day of the quarter in which you collected documents confirming the zero rate, or on the day of shipment of the goods, if the special rate is not confirmed.

Important!

It is mandatory to keep separate records of input VAT on external and internal transactions!

Export VAT: postings

Income tax – when to report revenue?

If income is recorded on a cash basis, then accordingly, we recognize revenue on the date of receipt of funds in a foreign currency account. Do not forget to recalculate it in rubles at the current exchange rate for the currency in which settlements with the foreign buyer are made.

However, most companies use the accrual method, which is where positive and negative exchange rate differences arise due to currency fluctuations. Reflect them as non-operating income/expenses when forming the tax base.

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Accounting entries for import transactions

Let's look at the basic accounting entries accompanying the import of goods using an example. On February 22, 2021, Mister LLC purchased 10 refrigerator-freezers with a capacity of 350 liters each. from a foreign partner at a price of $5,000. Simultaneously with the purchase, Mister LLC received ownership of the goods. The exchange rate of the Central Bank of the Russian Federation as of February 22, 2019 is 65.54 rubles. We paid for the goods on 03/07/2019 at the rate of 64.50 rubles. Customs duty is 10,000 rubles.

The question arises - how to find out the customs duty rate? To do this, we find the code of the commodity nomenclature of foreign economic activity (HS code), which is suitable for our cargo. This code is 8418102001. For goods falling under this code, the import duty is 12%. Read about how to determine the Commodity Nomenclature for Foreign Economic Activity code in the articles “Handbook of Commodity Nomenclature for Foreign Economic Activity” and “Code of Commodity Nomenclature for Foreign Economic Activity”.

To complicate matters, we add that the customs clearance was handled by a customs broker. His services cost 35,000 rubles.

Keep records of exports and imports using the simplified tax system in the Kontur.Accounting web service. Currency accounting and work instructions, taxes, automatic salary calculation and reporting in one service Get free access for 14 days

As a result, we generate the following postings. Confirm all transactions with documents.

Read more about VAT refunds on import transactions in our article.

VAT reflection

The accountant must pay attention to accounting for VAT transactions. This need is due to the fact that the company can use a 0% rate. The accountant needs to develop a procedure for distributing VAT on indirect expenses and prepare all important tax documents. VAT on export expenses is summed up on account 19. In this case, separate accounts are allocated.

Let's look at the wiring used:

• DT19 KT60. VAT on export expenses.
• DT19 KT68. Restoration of tax that was previously accepted for deduction. The entry is made on the date of shipment of the product.
• DT19 CT19. Tax on indirect expenses.
• DT68 KT19. Tax write-off on confirmed transactions.
• DT19 KT68. Taxes on unconfirmed exports.
• DT68 KT19. Deduction of tax previously assessed on unconfirmed exports.
• DT91 KT68. Calculation of VAT fines.
• DT91 KT19. Writing off tax as other expenses when the transaction remains unconfirmed.

IMPORTANT! The peculiarities of export accounting are determined by the special taxation procedure and the risk that export accounts may be unclaimed.

Common Mistakes

Keep records of exports and imports using the simplified tax system in the Kontur.Accounting web service. Currency accounting and work instructions, taxes, automatic salary calculation and reporting in one service Get free access for 14 days

Control over foreign economic activity by the state is stronger than over internal activities. Therefore, avoid mistakes when maintaining accounting records of import transactions. Check the following points:

• currency conversion - often accountants use the exchange rate on an incorrect date;
• translations of documents - import documents must be in two languages: Russian and the partner’s language, sometimes the partner sends documents only in his own language, then you need to prepare a translation;
• correspondence of accounts - an error typical for internal and external activities; it is eradicated with increasing experience of the accountant.

Primary documents for accounting

The most difficult thing when managing imports is the determination and calculation of cost.
In this case, you need to take into account the costs of customs clearance, taxation, duties, and logistics costs. In addition to calculating the cost, there are a number of mandatory primary documents that must be filled out competently and correctly.

Agreement, contract

This is the main document on the basis of which cooperation with foreign partners is carried out. It is in this document that all the terms of cooperation, payment procedures, and delivery times are spelled out. The agreement should also spell out the risks of both parties and how they will be compensated in case of unforeseen situations.

Invoice

This is a document that is drawn up by the seller for the buyer. This document reflects all the qualities and properties of the product being sold. It is required to pass customs control, as well as to check currency transactions.

Customs declaration

This document is required for registration of transactions both for import from foreign countries and for export.
To be filled in by the manager of the goods being sold. A properly and correctly completed declaration guarantees the legality and legality of the transaction. If everything complies with the requirements and norms of current legislation, the inspector certifies the declaration. The declaration must contain information about the product, its quantity, seller, buyer, delivery features, amount of fees, duties, VAT, customs value. When filling out, it is worth considering that all documents are drawn up in two copies. One of them is in Russian, the second is in the language of the foreign partner who supplies its products to the country.

Import documentation

Keep records of exports and imports using the simplified tax system in the Kontur.Accounting web service. Currency accounting and work instructions, taxes, automatic salary calculation and reporting in one service Get free access for 14 days

To generate accounting entries, successfully pass customs authorities and receive a VAT refund, prepare the following documents:

• foreign trade contract with a foreign counterparty;
• invoice from the seller - invoice or invoice;
• transport documents;
• documents confirming cargo insurance;
• customs declaration for goods - after passing customs you will be given it with the stamp of the authority;
• receipts and payment orders confirming the fact of payment of duties, fees and taxes;
• technical documentation;
• acts of acceptance and transfer;
• licenses and certificates as required.

You can familiarize yourself with documents on foreign economic activity in the article “Documents for foreign economic activity.”

Opening a foreign currency account

It is not profitable for foreigners to work with rubles, so most often payment for a foreign contract takes place in foreign currency. To do this, you need to open a foreign currency account in any bank convenient for you and buy currency. This procedure is simple; all you need to do is provide the bank with all the necessary documents.

A foreign currency account is opened in a bank on the basis of a banking agreement, and for the purchase of currency an application is drawn up in the form approved by the bank. The required amount to purchase currency is transferred from your current account. If the foreign currency account is in the same bank as the current account, then you can indicate the details of your current account in the application and the funds will be debited from it.

Right to deduction

The amount of VAT paid upon import is taken as a deduction or taken into account in the cost of the goods. The right to deduction arises only for VAT payers subject to the conditions provided for in paragraph 2 of Article 171 and paragraph 1 of Article 172 of the Tax Code of the Russian Federation. In this case, the deduction can be claimed in tax periods within three years after the registration of goods imported into the territory of the Russian Federation and other territories under its jurisdiction. Please note: persons exempt from fulfilling the duties of a VAT payer, as well as persons using special regimes, despite paying import VAT, are not entitled to apply a deduction. Companies that use imported goods in transactions not subject to VAT also do not have the right to deduction. In these cases, the tax amount is taken into account in the cost of goods. When applying a deduction, VAT payers register a customs declaration and other supporting documents in the purchase book, that is, an invoice is not required to apply the deduction in this case.

Certification costs

Taxpayers using the simplified tax system have the right to reduce the income received by expenses for confirming the compliance of products or other objects, production processes, operation, storage, transportation, sales and disposal, performance of work or provision of services with the requirements of technical regulations, provisions of standards or terms of contracts.
Thus, when determining the tax base for the tax paid in connection with the application of the simplified tax system, the taxpayer has the right to reduce the income received by him for the costs of certification of imported goods.

The specified expenses are accepted after the completion of certification work (signing of the certificate of completion) and their payment (clause 2 of Article 346.17 of the Tax Code of the Russian Federation, letter of the Ministry of Finance of Russia dated December 26, 2006 N 03-11-04/2/293, Federal Tax Service of Russia for the city of Moscow dated February 16, 2009 N 16-15/013702).

The amount of customs security in accounting

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Currency control

And although the transaction passport was cancelled, currency control has not gone away. The bank can still request supporting documents from you for transactions over 200 thousand rubles in ruble equivalent. Therefore, save all contracts, transaction passports and other documents with information about currency transactions. The full list of documents that you may be asked to provide is contained in the law.

Banks charge a commission for currency control services and agreement registration. Everyone's conditions are different, so check in advance what the conditions are at your bank.

Postings and operational accounts for customs duties for exports

What are wiring? This is an accounting term that means recording various changes in the condition of a particular product in the documentation.

To what account should customs payments be attributed when exporting products? When exporting goods outside the territory of the state, the procedures are written off from account 90, subaccount 5 to account 76. The procedure is documented by posting D90/5 K76.

As a rule, when exporting products, the VAT rate is 0%. In other words, the foreign trade participant receives compensation from the state budget for repayment of this payment. But there are some exceptions for such cases:

• sales and delivery of products are carried out in the Republic of Belarus;
• export of petroleum products.

To receive reimbursement for VAT expenses, you must provide the government agency with the following basic documents:

• a contract concluded between a foreign trade participant and a foreign representative;
• a document from a banking organization confirming a financial transaction;
• cargo customs declaration.

The payer must comply with the deadlines for submitting documents. They are 180 days after drawing up the declaration.

After submitting the required package of documents to the customs authority, VAT refund is carried out within 3 calendar months.

Determining the rate

The VAT tax rate depends on the type of imported goods and is 10 or 18 percent. The rate must be determined as follows: according to the commodity nomenclature of foreign economic activity of the Eurasian Economic Union (TN FEA EAEU) and the All-Russian classifier of products by type of economic activity, approved by Order of Rosstandart of January 31, 2014 No. 14-st, you need to find the code of the imported product. It must then be compared with product codes for which a 10 percent VAT rate applies. If the product code is present in the specified lists, then a rate of 10 percent is applied, otherwise - 18.