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International Accounting
 

Topical issues of concession facility accounting and taxation

Vol. 18, Iss. 22, JUNE 2015

Available online: 19 July 2015

Subject Heading: TRANSFORMATION OF NATIONAL REPORTING

JEL Classification: 

Pages: 16-26

Kemaeva S.A. Lobachevsky State University of Nizhny Novgorod, Nizhny Novgorod, Russian Federation
s.kemaeva@mail.ru

Elmanova E.N. Lobachevsky State University of Nizhny Novgorod, Nizhny Novgorod, Russian Federation
elena_elmanova@mail.ru

Subject The subject of the research is the economic operations under concession agreements. Currently, the accounting and taxation procedure for concession facility in laws and regulations contains a number of contradictions. In particular, they relate to identifying the concession facility and specifics of its taxation.
     Objectives The aim of the research is to compare accounting and taxation requirements for the concession agreement facility under Russian regulations and International Financial Reporting Standards.
     Methods In the study, we employed a comparative analysis, systematization and generalization of major problematic issues on the subject under consideration, synthesis, induction, and deduction.
     Results The article defines the sequence of accounting and taxation of the objects of concession agreements, settlement and other operations under the signed agreement. We summarize the options of accounting and taxation schemes for concession facility on the part of the concessioner based on the requirements of applicable laws and accounting standards (RAS and IFRS).
     Conclusions The enacted amendments to the law of May 1, 2015, create the legal basis for entering into concession agreements at the potential concessioner's initiative. Many of the issues addressed in the article may be resolved shortly. Currently, concessioners should formalize the accounting and taxation procedures for concession facility in their accounting policies based on their professional judgment.

Keywords: grantor, concessioner, concession facility, accounting, taxation

References:

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