The process of VAT recovery is established by Chapter 21 of the Tax Code of the Russian Federation on January 1, 2006. All issues related to tax recovery are regulated by law, so taxpayers must control all situations that can result in VAT recovery.
Instructions
Step 1
Carry out VAT recovery during the transfer of property or rights to it as a contribution to the authorized capital of business partnerships and companies. This process is reflected in the tax period when the property was transferred. The amount of the recovered VAT is reflected in the documents for registration of the transaction, while the transferring party does not have to issue an invoice. The receiving party accepts VAT deductible amounts only after the posting of the received property, if it will be used for transactions that are taxed. In this case, the VAT recovery operation is charged to the account of settlements with counterparties. For this, create a separate subaccount in account 76 "Settlements with different creditors and debtors".
Step 2
Recover deductible VAT in the event that the property is used in transactions that are not subject to VAT. Such operations include those established by Article 149 of the Tax Code of the Russian Federation; not subject to taxation in accordance with paragraph 2 of Art. 146 N RF; produced by persons who are not VAT payers, on the basis of Art. 145 Tax Code of the Russian Federation; held outside of Russia in accordance with Articles 147 and 148 of the Tax Code of the Russian Federation. It is necessary to reflect the recovery of VAT in the same tax period when the above operations took place.
Step 3
Make VAT recovery when switching to special tax regimes in the form of STS or UTII. The recovery process refers to the tax period that precedes the transition to the new tax regime.
Step 4
Reflect the recovery of VAT upon exemption from payment of value added tax in accordance with article 145 of the Tax Code of the Russian Federation. Calculate for the tax period preceding the sending of the Notice of Exercise of the Right to Exemption to the tax authority.
Step 5
Note VAT recovery in accounting. Open a debit on account 19 "Value added tax on acquired values" and a credit on account 68 "Calculations with taxes and fees".
