Law & Numbers - News Tax

How to Support the Treatment of Property as Movable for Assets Tax Purposes


Until 1 January 1 2013 taxpayers were subject to assets tax based on the average annual value per their balance sheet of both movable and immovable property. Movable property put into operation after this date should not be treated as subject to the tax.

Movable fixed assets put to use earlier remain taxable. A year has passed under the new rules, but a degree of uncertainty remains as the criteria for determining whether particular fixed assets should be treated as movable or immovable are not straight - forward. During 2013 the Ministry of Finance issued a number of clarifications in response to taxpayers’ enquiries. A recent Letter [of the Ministry of Finance No 03-05-05-01/56232 of 20 December 2013] confirms the recommendations issued previously. Namely, to ensure the correct treatment of a fixed asset it recommends referring to the Technical Regulations on the Safety of Buildings and Facilities and the All-Russia Classifier of Fixed Assets (the so-called “OKOF”).

In practice taxpayers may encounter some challenging cases, particularly regarding complex assets, in which specialist technical support may be required to determine whether an asset may be considered movable.

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