The most important advantage bank card with the accrual of interest on the balance is the free withdrawal of money from the account at any time and in any amount. An ordinary deposit does not have such freedom, because in order to withdraw money from a deposit account, you must contact the bank with a special application, wait for approval and lose interest. Although for many, this feature is not an advantage, but a temptation to spend the money set aside for something. After all, we open a deposit to save extra money from waste, and help to do it better deposit than an income card.
When making debit card with the calculation of interest, it is important to take into account that when concluding a deposit agreement, if this is provided for by the terms of the agreement itself, interest rate yield does not change during the term of the contract. When using an income card, the bank has the right to change the percentage of profitability at any time, notifying the other party two weeks in advance. Often, in order to obtain the optimal percentage for income card, it is necessary to comply with the requirements put forward by the bank. For example, to maintain a permanent account balance of at least 30,000 rubles.
I welcome you all again. Today we are completing a large overview of the topic of deposit services for a legal entity. Let me remind you that this is the fifth article in the series.
Let's very briefly recall what we talked about earlier.
Today, let's talk about two new types of services in which a legal entity can have additional income without making any effort to receive it.
Namely, let's talk about the possibility of receiving interest income on your current account balances. Let me explain - where it will not be necessary to transfer money anywhere, open a separate deposit account, etc. In this case, interest will be charged to you only for the fact that you will have funds in your current account.
Interesting? Never heard?
Let's take a closer look at these products.
There are two main types of possible cooperation with the bank in this direction.
In details. I propose to immediately disassemble specific example. Let's say the average daily balance on your current account is 5 million rubles. You yourself know that you always have such a volume. In this case, you agree with the bank that the bank will pay you an interest (let's say 10% per annum) for the fact that at the end of the working day (any) your balance will not be lower than 5 million rubles. The term of the contract is 180 days.
Thus, if all 180 days, the daily balance on your current account will be 5 million and more, then on the 181st day you will receive 10% per annum to your current account.
But, if at least once, at the end of the working day, your balance drops below 5 million rubles. You won't get any interest.
I draw your attention - that during the day, your current account balance can vary up to 0. The main thing is that at the end of the working day, the amount is restored.
Of course, this tool is of interest to those who do not have problems with short-term liquidity, but at the same time, there is a competent accounting department that, without online failures, will be able to control the need to replenish the balance above the agreed amount.
With the option when you receive daily interest on the balance, the scheme looks like this. Let's take another amount, so as not to get confused.
For example, do you understand that, on average, current account you have 1 million rubles. You enter into an agreement with the bank in which you will receive interest on a daily basis, provided that Money will be more than 1 million rubles.
Moreover, if at the end of a working day, you will not be able to ensure the availability of 1 million rubles. and above, then the bank will simply not pay you interest for that particular day. And at the end of the month, the bank will count the days when the amount in your account was above 1 million rubles. and pay interest to you for a specific number of days. It can be either 5 days or 30. Here already, everything will depend on you.
Let's put the main features of these products in the table for ease of understanding.
I hope that for a basic understanding of these products, the information above should be enough.
In the current series of articles, it seems to us, we most closely answered such frequently asked questions as “what is a deposit”, “deposit of a legal entity”, “deposit with the highest percentages”, “how to choose the right deposit”, “pitfalls of deposit service” and so on.
In case you would like to get more detailed information, write in the comments, we will try to expand the necessary information for you as much as possible.
Source Alexander MSBHelp Kiselev
Current account balance- the amount of funds that are on the account of the client of the credit institution, taking into account incoming and outgoing transactions.
The presence of such a residue provides :
In banking practice, the term “minimum balance” is increasingly coming across, which is tied to the service for accruing additional funds. For entrepreneurs or individual entrepreneurs, this service is an opportunity to ensure the stability of transactions and receive additional profit.
Operating principle:
Current account balance- conditional term. Additional profit of a legal entity or individual entrepreneur depends on the amount of funds. How more money on the account, the higher the income.
The presence of such an option is an opportunity for the account owner to ensure the "work" of the money that is on the account. The available capital is not just a "dead weight", but grows through accumulation. For many people, such a tool is an opportunity to at least partially protect themselves from inflation and increase the company's profits.
The advantages of calculating interest on a minimum balance on a current account include :
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On practice interest on current account balance are charged subject to certain rules of the bank:
Interest on the minimum balance on the current account is promised by many banks :
Minimum balance accrual service offered in many banks (including Sberbank, Sobinbank, Uniastrum Bank and others). Average is 1-6% depending on the amount on the account and the conditions of the credit institution.
In order to carry out non-cash payments with business partners, make payments to the tax authorities and off-budget funds, individual entrepreneurs may in voluntary open a bank account. Concerning legal entities, then they, unlike individual entrepreneurs, are required to have a r / s by law - without it, organizations simply lose the right to conduct some important financial operations. Many banks offer the opportunity to open a bank account. financial structures, they also offer account holders some additional services, for example, the right to keep minimum balance.
Many banking structures offer owners of settlement accounts a special service called "minimum balance". This term refers to a certain stable amount of money stored on the current account of a legal entity or entrepreneur, allowing the holder of the account to receive additional income.
This scheme works quite simply: at the initiative of a businessman, a minimum cash limit is set on the current account, which is undesirable to reduce. The presence of this limit guarantees the accrual and payment of interest in accordance with the conditions specified in the contract.
Attention! The term "minimum balance" is a rather arbitrary concept, since the account holder can, at any time, if necessary, withdraw all the money stored in his current account. The only thing that will be lost in this case is the interest accrued by the bank on the minimum balance under the terms of the agreement.
The main function of the minimum balance is to provide the account holder with additional income which will slightly reduce the financial burden on the enterprise. Of course, this is only possible if the organization or entrepreneur has enough free funds, which can be easily stored in the bank without damage to the business. In fact, this tool allows not only to guarantee the safety of money, but also to protect them from inflationary losses.
According to banking analytics, in the financial market of our country, this additional service is very much in demand. The main reason for this lies on the surface: few people will refuse the opportunity not only to save, but also to increase their free capital, especially without any special efforts. And given that the rest of the funds on the current account can also be freely used, this financial service can even be called unique.
In addition, the irreducible balance has other positive aspects.
Banking sector research suggests that interest terms for this service, offered by different financial credit institutions are approximately the same everywhere. Most often, interest rates fluctuate in the range of 1-6%, depending on how long this option is set and how much is the minimum balance (ie, about two times lower than the deposit rates).
In the vast majority of cases, only those funds that are placed on the current account in ruble equivalent can be the minimum balance.
If a company or an entrepreneur wants to save and increase money in currency terms, then it is worth using a more traditional deposit for legal entities and individual entrepreneurs.
Domestic financial market offers the consumer several options for the minimum balance. These include:
Remember, an entrepreneur or any commercial company can choose the form of minimum balance that is most convenient for them, depending on the specifics of their activities. For example, a large trading organization is likely to use the option with a public minimum balance, but for a manufacturing firm, a minimum balance with a clearly defined period.
As a rule, an Additional Agreement to the Agreement on settlement and cash services between the bank and the client, which prescribes all the conditions and features for the minimum balance. Such an agreement introduces new concepts and terms, such as: transaction currency (rubles, dollars, euros), minimum and maximum amounts, start and end dates for maintaining a minimum balance. Most often, all these essential conditions are displayed in another separate document, the so-called "Confirmation for maintaining the Fixed (minimum) balance", which is drawn up as an Appendix to the Additional Agreement.
FILES
Other applications to such an additional agreement may be:
- a list of representatives of the parties (the bank and the client) authorized to negotiate on their behalf essential conditions agreements;
- list of telephone numbers and electronic communication addresses between the parties (for more transparent and official work).
The accrual of interest by the bank on the balance of funds on the current account is carried out within the framework of the agreement bank account.
Whether to display in Section 7 tax return accrued (received) interest on the cash balance of the organization for VAT?
On this issue, we take the following position:
Amounts accrued (received) by the organization of interest under the contract bank deposit(deposit) should not be reflected in section 7 of the tax return for value added tax.
Position justification:
Section 7 of the tax return for value added tax (hereinafter also referred to as the Declaration) includes information on transactions:
- not subject to taxation (exempt from taxation) in accordance with the Tax Code of the Russian Federation (taking into account the Tax Code of the Russian Federation);
- not recognized as an object of taxation in accordance with the Tax Code of the Russian Federation;
- for the sale of goods (works, services), the place of sale of which is not recognized as the territory of the Russian Federation in accordance with the Tax Code of the Russian Federation.
In addition, section 7 of the Declaration is filled in by the taxpayer in cases of receipt of payment amounts, partial payment on account of the upcoming supply of goods (performance of work, provision of services), the duration of the production cycle of which is more than six months (according to the list determined by the Government of the Russian Federation) (TC RF) .
Section 7 is included in the Declaration when the taxpayer performs the relevant operations (clause 3 of the Procedure for filling out a tax return for value added tax, approved by the Federal tax service dated 29.10.2014 N ММВ-7-3/ [email protected], hereinafter - Order).
Note that the information reflected by the taxpayer in section 7 of the Declaration is for reference only and is not taken into account when determining the amount of tax payable to the budget (reimbursed from the budget).
Based on the Tax Code of the Russian Federation, they are not subject to taxation (exempted from taxation) in the territory of the Russian Federation, in particular:
- implementation by banks of banking operations (with the exception of collection), including the attraction of funds from organizations and individuals in deposits, placement of attracted funds of organizations and individuals on behalf of banks and at their expense, opening and maintaining bank accounts of organizations and individuals (TC RF);
- loan operations in cash and securities, including interest on them, as well as REPO operations, including amounts of money payable for the provision valuable papers on REPO transactions (TC RF).
The concepts of goods, work, services for the purposes of the Tax Code of the Russian Federation are defined by the Tax Code of the Russian Federation. Thus, for the purposes of taxation, a service is recognized as an activity, the results of which do not have a material expression, are realized and consumed in the process of carrying out this activity (TC RF).
As follows from the question, the accrual of interest by the bank on the balance of funds on the current account is carried out within the framework of the bank account agreement.
In accordance with the Civil Code of the Russian Federation, unless otherwise provided by the bank account agreement, for the use of funds on the client's account, the bank pays interest, the amount of which is credited to the account. Such interest is paid by the bank in the amount determined by the bank account agreement, and in the absence of an appropriate condition in the agreement, in the amount usually paid by the bank on demand deposits (the Civil Code of the Russian Federation). The provision by the client to the bank of funds for crediting to the current account is not a service within the meaning of this concept defined by the Tax Code of the Russian Federation. Such provision is inextricably linked with the subject of the bank account agreement, under which the provider of services is the bank, and not the client (Civil Code of the Russian Federation). The client does not provide the bank with any services that are additional to the subject of this type of agreement, the fee for which would be determined in the form of interest on the minimum balance of funds in the account. The norms of the Tax Code of the Russian Federation do not refer the receipt of such interest either to operations that are not recognized as an object of VAT taxation (the Tax Code of the Russian Federation), or to operations that are not subject to taxation (exempted from taxation) by this tax (the Tax Code of the Russian Federation).
The Federal Tax Service of Russia dated December 29, 2006 N 14-2-05 / 2354 states that transactions that are not recognized as an object of taxation and (or) not subject to taxation (exempt from taxation), subject to reflection in Section 7 of the Declaration, must be characterized by the transfer of ownership of goods, the results of work performed by one person for another person, the provision of services by one person to another person (TC RF). Based on this, the representatives tax authority concluded that, in particular, in the case of payment of interest on cash balances under bank account sale of goods (works, services) and, accordingly, transfer credit institution ownership of goods, the results of work performed, the provision of services to the organization does not arise. Therefore, the need to reflect in the VAT tax return the income received from the bank in the form of interest on the bank account tax legislation not installed.
It should be noted that only banks have the right to attract funds from organizations and individuals in deposits. Such a right is granted to them in accordance with a permit (license) issued in accordance with the procedure established in accordance with the law (the Civil Code of the Russian Federation).
Thus, section 7 of the Declaration is filled out only by banks.
When funds are credited to a bank account, there is no transfer of ownership of these funds, only the movement of funds occurs. Interest under a bank account agreement is not charged due to the fact that the organization (depositor) provides services (performs work, sells goods).
Therefore, we believe that there are no grounds for reflecting the amount of interest received by the organization under the bank account agreement in Section 7 of the Declaration.
Indirect confirmation of this point of view, in our opinion, is contained in the Ministry of Finance of Russia dated May 17, 2012 N 03-07-11 / 145, in which financiers indicate that the income received by the taxpayer in the form of interest from the placement of funds in correspondent accounts, interest on bank deposits, dividends on securities are not proceeds from the sale of goods (works, services).
We also believe that the interest under the bank account agreement should not be interpreted as the client's income from the service of providing loans to the bank in cash. The organization needs to reflect the information in section 7 of the Declaration under the code "1010292" only if it carries out operations to provide a loan in cash or securities (paying interest on them), as well as REPO operations (including amounts of money payable for the provision of securities on REPO transactions) (see, for example, the Ministry of Finance of Russia dated 06/22/2010 N 03-07-07 / 40, the Federal Tax Service of Russia dated 11/08/2011 N , the Federal Tax Service of Russia for Moscow dated 11/22/2011 N 16-15 / 113063).
Prepared answer:
Legal Consulting Service Expert GARANT
Shishkina Olga
Answer passed quality control
The material was prepared on the basis of an individual written consultation provided as part of the Legal Consulting service.
