Problem recognition issues, accounting and taxation of low-value and wearing items

Роєва, Ольга Сергіївна and Roieva, Olha (2016) Problem recognition issues, accounting and taxation of low-value and wearing items. Науковий вісник Одеського національного економічного університету, 1 (5(237)). pp. 132-143. ISSN 2409-9260

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Abstract

This article describes place and role of low-value items in support of activities of enterprises of different industries, the classification of low-value items in fixed assets or reserves, which determines the peculiarities of their accounting and the impact on the cost of the enterprise. At different 135 enterprises of one and the same object can be in operation for different periods and, as a consequence, may be attributed to different types of assets: a negotiable or non-negotiable. To resolve this problem, it is proposed to create the Commission on the definition of terms of useful use and compile a list of low value assets, to introduce statements of account issuing low-value items. Also, in this article, identifies problematic issues relating to the taxation of low-value non-current assets, which include personal protection equipment (hereinafter PPE) workers. As gross expenditures include the costs of providing employees PPE required to perform their professional duties, therefore, the solution of problem questions of accounting and of depreciation of PPE, in the case of employee's dismissal and appropriation of said funds, the methods of calculating the residual value of PPE, which will keep some of the costs as part of gross. The article also considers the influence of this technique to the taxation the value added tax eliminated remedies, the positive and negative aspects of the use of this technique. The major positive point for the enterprise tax payer, is the preservation of the tax credit. But the proposed method is based only on an analysis of existing tax legislation and its own developments and the author's conclusions, and therefore requires further research.

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