CC BY
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УДК 336.225.3
Fatullaev A. N.
The student of the Dagestan State University, Russia, Republic of
Dagestan, Makhachkala
Scientific adviser: Associate Professor, Candidate of Philological Sciences
Bilalova Kh.A.
THE TAXATION OF INCOME OF INSURANCE COMPANIES
Abstract: The article reveals the essence of the taxation of insurance organizations, specific activities of insurers, as well as income and expenses of insurance organizations.
Keywords: insurance service revenues, expenses, taxes.
Modern society is unthinkable without insurance as a special kind of economic relations. Insurance acts as a type of entrepreneurial activity carried out in specific sectors of the economy. The relationship between the level of social welfare, the degree of development of market relations and the level of development of insurance is evident. Organization of effective tax planning system in the Russian insurance institutions acts as a link between the various stages and complexes of the General economic planning of the economic entity, both tactical and strategic.
State policy in the field of taxation includes the taxation of insurance companies themselves and taken into account in calculating the taxable base of insurance premiums and insurance payments. Taxation of insurers should be organized so that the tax burden was higher than for legal persons involved in other activities. When regulating the taxation of insurance companies it is necessary to consider the protective function of insurance for the overall economy.
The specifics of the insurers is that it is aimed at pre-collecting funds (insurance premiums), so in the future upon the occurrence of certain events (insurance cases) to produce a guaranteed payout of insurance claims and provisions.
Insurance organizations pay less taxes than legal entities. In particular, insurance companies are exempt from paying value added tax and excise duties. This is due to the tax laws, establishing a special order of taxation of insurance activities, which takes into account the peculiarities of this sector.
First, because insurance services do not contain added value, the insurance company operations insurance and reinsurance are exempt from VAT. Wherein the input value added tax insurance company can be fully attributed to the cost or when conducting separate accounting of expenditures on taxable and non-taxable turnovers to put the amount of input value-added tax refunds from the budget or to offset of amounts of value added tax on taxable transactions.
Second, the legislation allows insurance companies to defer their tax liabilities by income tax on the amount of formed insurance reserves.
Modern tax legislation establishes a General procedure for determining the tax base and calculation of tax on profit of organizations for all taxpayers whose
profit is subject to taxation. However, the specificity of insurers leads to determination of both income and expenses accounted for them when calculating the tax base for tax on profit of organizations. The composition of revenues and expenditures, and in some cases the procedure for determining their equivalent value (tax base), the timing of recognition of revenue from insurance organizations are especially established St. 293,294,330 THE TAX CODE. The income taken into account in the tax base for calculation of tax on profit of organizations reflect the specifics of the operations and services provided by insurance companies. The list of revenues is not closed. Specific income insurance institutions can be divided depending on activities in the implementation process which they are received, into three groups:
- income insurance (reinsurance, co-insurance);
- revenues of insurance companies from activities associated with the implementation of the insurance (reinsurance, co-insurance);
- other income.
The specifics of determining the valuation costs of insurance companies and the timing of their recognition in tax accounting, as well as revenues, are reflected in article 330 of the tax code of the Russian Federation "Peculiarities of tax accounting of income and expenses of insurance organizations."
Costs of insurance organizations that are considered when calculating the tax base and due to the needs of their activities, like income, can be divided into three groups:
1) expenses on insurance activities;
2) costs for activities related to the operations of insurance;
3) other expenses of insurance organizations.
All insurers shall calculate the tax base for calculating income tax as the difference between the proceeds from the sale of insurance services income from other activities undertaken by the insurers in accordance with applicable law, and costs included in the cost of rendered insurance services and other works (services), specified by the amount of income and expenses attributable directly to financial results.
In accordance with the Tax codec of the Russian Federation, to the cost of insurance companies include the amount of the reduction (return) of insurance reserves formed during the reporting period, compared with the previous one. Thus, insurance companies are given the opportunity to tax the profits, not all receivable insurance premiums and, due to the formation of some insurance reserves, and only earned insurance premium. At the same time, insurance premiums are not taxed on profits at the time of conclusion of the insurance contract, can be fully accommodated as a means of insurance reserves in assets that meet the requirements of the insurance legislation, and to provide the insurer additional income from investments.
In addition to the exclusion from the tax base of provisions from insurance premiums insurance companies have the ability to build loss reserves and their amounts to reduce the income.
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All of these conditions lead to the fact that tax revenues from insurance activities revenues of the Federal budget of the Russian Federation does not significantly affect. Thus, the tax policy of the state governing the taxation of insurance companies is directed on support and development of effective forms of insurance protection in the Russian Federation.
References:
1. The law of the Russian Federation from 27.11.1992 N 4015-1 (as amended on 03.07.2016) "On organization of insurance business in the Russian Federation" (as amended. and EXT., joined. effective from 01.01.2017)
2. Tax code of the Russian Federation (part one) of 31.07.1998 № 146-FZ. (ed. from 28.12.2013) // reference legal system "Consultant Plus": [Electronic resource] / Company "Consultant Plus". - Last. update 05.06.2014.
3. Tax code of the Russian Federation (part second) from 05.08.2000 № 117-FZ (ed. from 28.12.2013) // reference legal system "Consultant Plus": [Electronic resource] / Company "Consultant Plus". - Last. update 05.06.2014.
УДК 336.025
Ibragimova L.D.
Graduate student of the first year of study scientific Director: associate professor, Ph.D.
Bilalova Kh.A.
Dagestan State University, Russia, RD, Makhachkala IMPROVEMENT OF LEGISLATIVE REGULATION OF THE ACTIVITY OF SMALL INDUSTRIAL ENTERPRISES IN THE RUSSIAN
FEDERATION
Abstract: In modern conditions of managing small organizations and individual entrepreneurs often find it extremely difficult to conduct their activities: the conditions of the market economy involve the presence of competitors, require huge financial investments. Given the continuing financial instability, Russia chose a course on all kinds of support for small businesses. Basically, this course was found its embodiment in creating favorable tax conditions.
Keywords: small business, tax regime, simplified taxation system, legal regulation, taxation of small industrial enterprises.
Ибрагимова Л.Д. магистрант 1-го года обучения научный руководитель: Билалова Х.А., к.ф.н.
доцент
Дагестанский государственный университет
Россия, РД, г. Махачкала
Аннотация: В современных условиях хозяйствования малым организациям и индивидуальным предпринимателям зачастую оказывается крайне сложно вести свою деятельность: условия рыночной экономики предполагают наличие конкурентов, требуют огромных финансовых
