of July 9, 2012 No. 12370/6/15-0116
About reference in structure of expenses of debenture interests
The State Tax Service of Ukraine considered the letter of Ltd company concerning recognition of transactions on debt obligations and reports.
According to subitem 136.1.20 of item 136.1 of Art. 136 of the Tax code of Ukraine (further - the Code) in structure of the income which is not considered for determination of the taxation object the main amount of the obtained credits, loans and other income which are determined by regulations of the Section III of the Code which are not considered for determination of the taxation object belongs.
According to subitem 14.1.267 of item 14.1 of Art. 14 of the Code the loan - money which is provided by residents which are financial institutions, or nonresidents, except nonresidents who have the offshore status, to the borrower for certain term with the obligation of their return and interest payment for use of the loan amount.
According to subitem 138.10.5 of item 138.10 of Art. 138 of the Code the structure of other expenses which are considered in case of calculation of the taxation object join financial expenses to which expenses on charge of percent (for use of the credits and loans belong, on the issued bonds and finance lease) and other expenses of the company within the regulations established by this Code connected with borrowings (except financial expenses which are included in cost of qualification assets according to provisions (standards) of financial accounting).
Features of determination of structure of expenses of the taxpayer in case of interest payment are determined by debt obligations by item 141.1 of Art. 141 of the Code. Any expenses connected with charge of debenture interests (including on any credits, loans, deposits, except the financial expenses included in cost of qualification assets according to provisions (standards) of financial accounting) during the accounting period are included in the expenses if such charges are performed in connection with carrying out economic activity of the taxpayer.
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system
If you cannot find the required document, or you do not know where to begin, go to Help section.
In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.
You also may open the section Frequently asked questions. This section provides answers to questions set by users.