The accounting of the costs associated with the acquisition or self-production of an asset shall depend on its initial value. It is therefore worth paying particular attention to the difference in the record-keeping of expenditure incurred in favour of a new permanent measure for use in the course of business.
At this point, reference should be made to the obligations of taxpayers under the Regulation section 4 Minister of Finance of 26 August 2003 on the keeping of a tax revenue and income account (Journal of Laws of 2003, item 1475, as amended; hereinafter: Regulation). These provisions require taxpayers to keep records of equipment. The Regulation clarifies that equipment with an initial value of more than 1,500 PLN.
Definition of equipment includes section 3 point 7 Regulations. According to that provision, equipment is tangible assets related to the activities carried out, not classified, in accordance with the provisions of the Income Tax Act, into fixed assets.
It is important to remember what information this inventory should contain, i.e. the following entry number, the date of purchase, the name of the item, the purchase price or the cost of purchase of the equipment and the account or invoice number with information on his entry number from the Tax Income and Revenue Book, and in the event of the liquidation of the equipment his cause and date.
At the same time, taxable persons keeping a tax income and income statement are subject to the provisions set out in the Personal Income Tax Act of 26 July 1991 (Journal of Laws of 1991, item 350 No 74, item 397, hereinafter: UOPDF).
They indicate in Article 22a(1) the definition of fixed assets, which are assets which have been acquired or created on their own, which are the property or co-ownership of the taxable person and on the date on which they are taken into service for the purposes of the economic activity. they must be complete and fit for use. The taxpayer must also declare that the expected lifetime of the asset will be longer than 12 months.
With regard to fixed assets, UOPDF imposes on taxpayers the obligation to keep records of fixed assets, but, depending on their initial value, gives the taxpayer the right to refrain from showing its acquisition and putting it into service in that register.
According to UOPDF provisions for fixed assets whose initial value is up to 3,500 PLN the taxpayer has two possibilities.
one of them according to Article 22d(1) UOPDF is a failure to make depreciation write-offs, but crediting the expenses incurred for their acquisition directly to the cost of obtaining revenue in the month in which it was put into service second Whereas the introduction of such a permanent measure into the records and the making of a one-off depreciation copy (Article 20f(3).
UOPDF). This copy shall be made in the month in which the product was put into service or in the following month. It is also possible to amortise this permanent measure on a general basis.
In the case of both a one-off depreciation write-down and a credit assessment of the costs associated with the acquisition of a fixed asset directly to the costs of obtaining the revenues of their value, the column should be included. 13 – Other expenditure - tax revenue and expense books.
Where the initial value of a fixed asset exceeds 3,500 PLN it must be amortised and included in the accounts of the taxpayer's assets at the latest in the month in which it was transferred for use.
The expenditure incurred in the acquisition of a fixed asset is the cost of obtaining income in the form of monthly depreciation deductions. The value of monthly depreciation shall be determined by calculating the product of the initial value of the asset and the depreciation rate.
If depreciation deductions are made per month, we determine the value of annual depreciations , divided by the number of months per year. This figure is recognised as monthly tax costs in the tax revenue and expense book in the column 13 from the month following that in which the measure was put into service.
It is worth noting that depreciation off fixed assets which are not included in the records cannot constitute revenue costs.
It should be pointed out that UPDOF gives the right not to identify material components used for the purpose of carrying out an economic activity, the value of which is less than 3,500 PLN. In turn, the provisions of the Regulation require an entrepreneur to register them if they exceed their value 1,500 PLN..
It is therefore worth noting that even if UPDOF regulations do not impose registration obligations in accordance with the regulations of the Regulation