14.03.08

As of January 1, 2008, according to Article 265 of the Tax Code (TC), amortizable assets are assets with a useful life over 12 months and an initial cost over 20,000 RUR. For the calculation of profit tax base, expenses from purchasing software licenses costing from 10,000 to 20,000 RUR will be handled on terms as before.

According to Article 264 of the TC, miscellaneous production expenses include purchase of software licenses priced under 10,000 RUR. The Ministry of Finance reminds us of this in the letter N 03-03-06/1/91 from February 13, 2008.

Therefore, if mentioned expenses exceed 10,000 RUR, then according to Paragraph 3 of Article 257 of TC, they are considered intangible assets (on the condition that their useful life exceeds 12 months). Thus, taxpayers will have to pay for legislators’ forgetfulness.

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