Registration of transactions for the sale of coins to legal entities

"Taxation, accounting and reporting in a commercial bank", 2011, N 2

Implementation commemorative coins allows banks to expand the range of services provided, attract additional customers and increase the share of non-interest income. However, such operations are associated with the need to keep records not only of the coins themselves, but also of their packaging, which has its own value. There are other features of accounting for transactions with coins.

The concept and specifics of circulation of commemorative coins

Before considering the procedure for accounting and taxation of operations of credit institutions with commemorative coins, let us turn to the definition - what exactly is invested in the concept of "commemorative coins".

As part of its issuing activities, the Bank of Russia puts into circulation commemorative coins made of precious and not precious metals and investment coins from precious metals, which are distributed both in our country and abroad. Given the peculiarities of the technological process of minting, coins can be divided into two main groups (according to the Bank of Russia website www.cbr.ru):

• performed as "proof" (or "proof like");
• performed in normal (A / C) or improved (B / A) quality.

Proof quality coins are produced by a method that allows to obtain a clean, mirror-like field and a matte relief image and inscriptions on the surface. As a rule, these are collectible coins, the release of which is timed to coincide with anniversaries and anniversaries, significant events of history and modernity, or is dedicated to topical issues of culture, protection environment, other topics. The drawings of their reverses are often complex in composition, multifaceted; the inscriptions indicate the subject to which the issue is devoted.

Coins of ordinary quality are the products of traditional highly automated minting production: exchange rate and change coins(circulating at face value as real means of payment), as well as coins made of precious metals for investment purposes, the circulation of which can reach several million pieces. Coins made of precious metals for investment purposes include:

• "George the Victorious" - gold coins with a face value of 50 rubles. and silver coins with a face value of 3 rubles;
• "Chervonets" - gold coins with a face value of 10 rubles;
• "Sable" - silver coins with a face value of 3 rubles.

All other coins issued by the Bank of Russia containing precious metals, with the exception of those listed above, are commemorative coins, which are also called collection coins. At the same time, despite the fact that such coins can be collectible, they are also legal tender and should be accepted for payment at face value without any restrictions. It is this dual purpose of commemorative coins that entails the peculiarities of accounting for transactions with them.

On the one hand, since commemorative coins are legal tender, they should be recorded on the balance sheet of a credit institution as cash, and on accounting accounts Money(cash) should reflect their nominal value.

On the other hand, commemorative coins are made containing precious metals and have artistic and collectible value. Thus, their actual value is many times higher than the face value. Therefore, when maintaining accounting records, in order to draw up complete and reliable reporting, it is logical to assume that the bank's balance sheet should reflect not only the nominal, but also the actual value of commemorative coins. This is indirectly evidenced by the requirements of Clause 1.12.4 Part I of Regulations of the Bank of Russia No. 302-P dated 26.03. Russian Federation"(hereinafter - Regulation N 302-P), according to which the accounting policy of a credit institution should ensure the prevention of the creation of hidden reserves by deliberately understating assets or income and deliberately overstating liabilities or expenses.

In order to understand how both of these concepts are embodied, let us turn to the accounting procedure for operations with commemorative coins provided for by the Bank of Russia.

Accounting for operations with commemorative coins The first approach. Reflection of commemorative coins as a means of payment

The chart of accounts for accounting in credit institutions, approved by Regulation N 302-P, for accounting for operations with commemorative coins provides for:

• account 47414 (P) "Payments for the acquisition and sale of commemorative coins" and
• account 47415 (А) "Requirements for payments for purchased and sold commemorative coins".

According to paragraph 4.63 of part II of Regulation N 302-P, they are intended to account for the amounts spent by a credit institution on the purchase of commemorative coins and received by it for their sale.

The characteristics of account 47414 "Payments for the purchase and sale of commemorative coins" provide that the value of the coins received is posted on its loan at the selling price in correspondence with the cash account at face value, the account for accounting for expenses for the difference between the face value and the selling price of the Bank of Russia . The debit also reflects the amounts transferred to the Bank of Russia for commemorative coins in correspondence with the correspondent account.

Thus, the following accounting entries are assumed for the credit of account 47414 "Payments for the acquisition and sale of commemorative coins".

For the value of the nominal value of commemorative coins, the posting is carried out:

For the amount of the difference between the nominal and selling prices of the purchased commemorative coins, the posting is carried out:

Dt 70606 "Expenses"

Kt 47414 "Payments for the acquisition and sale of commemorative coins".

At the same time, it is not specified at what point the second posting should be carried out - when purchasing or selling commemorative coins.

When selling commemorative coins, clause 4.63 of part II of Regulation N 302-P prescribes the following accounting entries:

Dt 30102 "Correspondent accounts of credit institutions with the Bank of Russia";

Dt 20202 "Cash desk of credit organizations" - for the amount received from the sale of coins;

Kt 20202 "Cash desk of credit institutions" - in the amount of the nominal value;

Kt 70601 "Income" - for an amount exceeding the face value of the coins.

Considering that the indicated transactions, which should be reflected when selling commemorative coins, do not imply the use of accounts 47414 "Payments for the acquisition and sale of commemorative coins" and 47415 "Requirements for payments for purchased and sold commemorative coins", it is logical to assume that the write-off of the difference between the nominal and selling prices of purchased commemorative coins should occur at the time of their purchase.

However, in this case, until the moment of sale, commemorative coins will be reflected on the bank's balance sheet only at their nominal value, which will not fully reflect both their purpose and actual value. In addition, this procedure will be contrary to clause 1.12.11, part I of Regulation N 302-P, according to which assets must be accepted for accounting at their original cost. In this case, a significant part of the initial cost of the asset (commemorative coin), namely the difference between the face value and selling price, will be expensed at the time of initial recognition of the asset. A logical question arises: which of the above requirements of Regulation N 302-P is more priority - the characteristics of accounts 47414 "Payments for the acquisition and sale of commemorative coins" and 47415 "Requirements for payments for purchased and sold commemorative coins" or general accounting principles?

It is necessary to clarify how the initial cost of commemorative coins is determined and what should be the accounting procedure for their acquisition and sale.

Second approach. Reflection of commemorative coins as an investment object

Recall that credit institutions, along with the characteristics of accounts, must use the Bank of Russia regulations on banking operations and the procedure for reflecting them in accounting, as indicated in clause 1, part II of Regulation N 302-P. Currently, the following regulatory documents of the Bank of Russia are in force regarding the circulation and accounting of operations with commemorative coins:

• Bank of Russia Directive No. 1614-U of September 19, 2005 "On the Procedure for Issuing Commemorative and Investment Coins by the Bank of Russia to Resident Credit Institutions" (hereinafter referred to as Directive No. 1614-U);
• Bank of Russia Directive No. 224-U, dated May 8, 1998, "On the Temporary Procedure for the Use of Balance Accounts 47414 and 47415 by Credit Institutions" (hereinafter referred to as Directive No. 224-U).

According to clause 13 of Directive N 1614-U, coins are accounted for by credit institutions at purchase prices and are not subject to revaluation. Indeed, in this case, accounting at the acquisition price will comply with the requirement of clause 1.12.11, part I of Regulation N 302-P that assets should be accepted for accounting at their original cost. The initial cost in the case of the purchase of coins from the Bank of Russia (or, in other words, the selling price) includes the following components (clause 3 of Directive N 1614-U): the nominal value of the coins, the value of the precious metals contained in them, the cost of production of coins and invoices expenses for their delivery from the mints to the vaults.

But if commemorative coins should be accounted for at their original cost, then in what accounts? The answer to the question is given by Instruction N 224-U. This regulatory document confirms the well-known saying that there is nothing more permanent than temporary: it was adopted back in the days of the "Accounting Rules in Credit Institutions ..." of June 18, 1997 N 61, successfully survived the introduction of the Regulations of the Bank of Russia dated 05.12.2002 N 205-P, in which, by the way, the characteristics of accounts 47414 "Payments for the acquisition and sale of commemorative coins" and 47415 "Requirements for payments for purchased and sold commemorative coins" were exactly the same as now, and continues act to this day.

The procedure for the use by credit institutions of balance accounts 47414 "Payments for the acquisition and sale of commemorative coins", 47415 "Requirements for payments for purchased and sold commemorative coins", established by Ordinance N 224-U, is as follows:

• accounts 47414 "Payments for the purchase and sale of commemorative coins", 47415 "Requirements for payments for purchased and sold commemorative coins" shall reflect the difference between the payment to a credit institution for commemorative coins at the purchase price (or proceeds for the sold commemorative coins at the sale price) and face value coin value;
• to account for the amounts of payments for purchased commemorative coins and the amounts of proceeds from their sale, credit institutions must use balance accounts 47422 "Bank liabilities for other operations" and 47423 "Bank claims for other operations" in the prescribed manner.

Therefore, to account for settlements for the purchase and sale of commemorative coins, Ordinance N 224-U prescribes the use of accounts 47422 "Bank obligations for other operations" and 47423 "Bank claims for other operations", and not account 47414 "Payments for the acquisition and sale of commemorative coins" and 47415 "Requirements for payments for purchased and sold commemorative coins". In turn, accounts 47414 "Payments for the purchase and sale of commemorative coins" and 47415 "Requirements for payments for purchased and sold commemorative coins" will reflect the difference between the nominal value and the purchase (sale) price of commemorative coins, which, as indicated above, according to the characteristics of these accounts, should have been written off as expenses (income). Thus, the above concept of accounting for assets at their acquisition price will be implemented, and it will also ensure that the balance sheet reflects not only the nominal, but also the actual value of commemorative coins during the period they are owned by a credit institution.

Accounting for the purchase of commemorative coins

Before proceeding to the consideration of specific postings, let's turn to the requirements of tax legislation.

According to paragraphs. 11 p. 2 art. 149 of the Tax Code of the Russian Federation are not recognized as an object of taxation for value added tax transactions for the sale in the territory of the Russian Federation of coins made of precious metals (with the exception of collectible coins), which are the currency of the Russian Federation or the currency of foreign states. At the same time, collectible coins made of precious metals include coins made of precious metals, which are the currency of the Russian Federation, minted using a technology that provides a mirror surface. Consequently, the sale of commemorative coins does not fall under the said exemption and must be subject to VAT in the prescribed manner.

As a result, based on the combined requirements of Regulation N 302-P and Directive N 224-U to the extent that they do not contradict each other, as well as the Tax Code of the Russian Federation, we obtain the following accounting procedure for the purchase of commemorative coins (both from the Bank of Russia and from third parties persons):

Transfer of funds for purchased commemorative coins:

Kt 30102 "Correspondent accounts of credit institutions with the Bank of Russia";

Kt 20202 "Cash desk of credit institutions";

CT of the client's account - by the amount of the purchase price (sales price) of commemorative coins.

Getting coins:

Dt 20202 "Cash desk of credit institutions" - in the amount of the nominal value of coins;

Dt 47415 "Requirements for payments for purchased and sold commemorative coins" - for the difference between the selling price and the face value of the coins;

Dt 60310 "Value added tax paid" - by the amount of VAT paid to the seller

Kt 47423 "Bank claims for other operations" - by the value of the purchase price (sales price) of commemorative coins.

If, however, the supply of coins occurs first, then the debit entries of accounts 20202 "Cash desk of credit organizations", 47415 "Bank claims for other operations", 60310 "Value added tax paid" are in correspondence with account 47422 "Bank liabilities for other operations" , and upon payment, the corresponding amount is debited to the debit of account 47422 "Bank's obligations for other operations."

Further, depending on the bank's accounting policy in terms of value added tax, the paid VAT is either deductible or expensed (if the bank applies the right granted by paragraph 5 of article 170 of the Tax Code of the Russian Federation). In the latter case, I would like to note only one nuance - the VAT paid when purchasing commemorative coins should be charged to expenses at the time of their sale or withdrawal from the bank for other reasons. In other words, the specified amounts of VAT must be recorded on account 60310 "Value added tax paid" as long as the value of the corresponding commemorative coins is recorded on the bank's balance sheet. The rationale for this position will be given in the second part of the article "Tax accounting of operations with commemorative coins" in the next issue of the journal.

So, the cost of commemorative coins purchased by the bank before the date of their retirement is reflected in accounts 20202 "Cash desk of credit organizations" - in terms of nominal value, 47415 "Requirements for payments for purchased and sold commemorative coins" - in terms of the difference between the acquisition cost (excluding VAT) and nominal value and on account 60310 "Value added tax paid" - in terms of VAT.

A similar approach to the procedure for using account 47415 "Requirements for payments for purchased and sold commemorative coins" and accounting for the purchase of commemorative coins is also followed by the Department for Organizing Accounting, Reporting and Settlements of the Moscow State Technical University of the Bank of Russia in response to private questions ("Banks and business world", N 12/2008), with the exception that the publication does not include VAT entries.

We also note that, in accordance with clause 1.12.12 of Regulation N 302-P, valuables and documents reflected in balance sheet accounts are not reflected in off-balance sheet accounts, except as provided for by these Rules and Bank of Russia regulations. Neither Regulation N 302-P, nor other regulatory acts of the Bank of Russia indicate that additional records of acquired commemorative coins should be kept on off-balance accounts. Consequently, commemorative coins purchased by the bank at its own expense should not be additionally reflected in off-balance accounts.

However, if the bank purchased commemorative coins for the client under a commission agreement, then the situation with the reflection on balance and off-balance accounts is reversed. In accordance with Art. 996 of the Civil Code of the Russian Federation, things received by the commission agent from the principal or acquired by the commission agent at the expense of the principal are the property of the latter, which means that the commission agent bank should not reflect commemorative coins purchased for the principal in its balance sheet. Thus, the accounting of commemorative coins purchased under a commission agreement should be carried out by the commission bank on an off-balance account 91202 "Miscellaneous values ​​and documents". Such clarifications are given in Letter No. 18-1-3-8/1109 of the Bank of Russia dated June 19, 2006 "On Accounting for Operations with Commemorative and Investment Coins".

Accounting for the sale of commemorative coins

Now consider the accounting entries that should be reflected when commemorative coins are retired, based on the above approach to the mode of using accounts 47414 "Payments for the acquisition and sale of commemorative coins" and 47415 "Requirements for payments for purchased and sold commemorative coins". There were also questions here, this time related to the need to use account 612 "Disposal and sale".

Instruction N 224-U, as well as the description of accounts 47414 and 47415, does not contain requirements for using account 612 "Disposal and sale" to reflect operations for the disposal of commemorative coins. At the same time, in accordance with clause 3.3 of Appendix 3 to Regulation N 302-P, in order to fully, reliably and timely reflect income from the supply (sale) of assets (with the exception of the purchase and sale of foreign currency) in accounting records, balance sheets are used to record disposals ( implementation). In cases where these Rules do not define a specific second-order account for accounting for the disposal (sale) of certain types of assets for accounting for the disposal (sale) of certain types of assets, a balance sheet account for accounting for the disposal (sale) of property should be used. From this we can conclude that when commemorative coins are disposed of, account 61209 "Disposal (sale) of property" should be used.

According to paragraphs 3.1, 3.3 of Appendix 3 to Regulation N 302-P, income from operations for the supply (sale) of assets is recognized in accounting, subject to the following conditions:

• the right to receive this income by the credit institution follows from a specific agreement or is confirmed in another appropriate way;
• the amount of income can be determined;
• as a result of a specific transaction for the supply (sale) of an asset, the ownership of the asset being delivered has passed from the credit institution to the buyer.

Therefore, transactions for the sale of commemorative coins should be recorded on the date when ownership of them is transferred to the buyer. If such a date is not indicated in the contract of sale and other primary documents, then the transactions should be reflected on the date of signing the document evidencing the transfer of coins.

Accounting entries on the date of sale of commemorative coins, taking into account all the above requirements, will be as follows.

The write-off of the nominal value of retired coins is reflected in the following posting:

Kt 20202 "Cash desk of credit organizations".

The write-off of the difference between the purchase price and the face value of the retiring coins is reflected in the following entry:

Dt 61209 "Disposal (sale) of property"

Kt 41415 "Requirements for payments for purchased and sold commemorative coins".

The accrual of VAT on the sale of coins is reflected in the following entry:

Dt 61209 "Disposal (sale) of property"

Kt 60309 "Value added tax received".

The write-off of the payment received from the buyer in the case when the payment is received on the day the coins are retired is reflected in the following entry:

Dt 20202 "Cash desk of credit organizations"

Dt 30102 "Correspondent accounts of credit institutions with the Bank of Russia"

Dt customer account

In the case when the payment arrives later/before the withdrawal of the coins, its write-off is reflected in the postings:

Dt 47423 "Bank requirements for other operations";

Dt 47422 "Obligations of the bank for other operations";

Kt 61209 "Disposal (sale) of property" - by the value of the sale price of commemorative coins.

Profit from the sale of commemorative coins is reflected in the following posting:

Dt 61209 "Disposal (sale) of property"

Kt 70601 "Income" - by the amount of the difference between the sale price of commemorative coins and the price of their acquisition (excluding VAT).

Reflection of the loss from the sale of commemorative coins is carried out by posting:

Dt 70606 "Expenses"

Kt 61209 "Disposal (sale) of property" - by the amount of the difference between the sale price of commemorative coins and the price of their acquisition (net of VAT).

Since the sale of commemorative coins relates to the operating activities of banks, the income received from this should be reflected under symbol 16306 "Other operating income", and expenses - 25303 "Other operating expenses".

If there should be no particular difficulties in determining the face value of the retiring coins and the price of their sale, then distinguishing the difference between the purchase price and the face value attributable to the retiring coins can be quite laborious, especially if coins of the same type were purchased at different times at different prices.

Note that for different accounting objects, Regulation N 302-P either provides for the possibility of choosing a method for estimating the value of retiring assets (for example, for securities - clause 1.7 of Appendix 11 to Regulation N 302-P), or fixes the only possible method of valuation - by cost each unit (for example, for inventories - clause 5.7 of Appendix 10 to Regulation N 302-P). The possibility of choosing and establishing by a credit institution a specific method for estimating the value of retiring commemorative coins is not directly provided, but, however, is not prohibited by regulatory documents. In this regard, it would be advisable for a credit institution to fix in its accounting policy the method used by it to determine the value of retiring commemorative coins - for example, by the cost of each unit, FIFO or by weighted average cost.

So, we have considered two approaches to the accounting procedure for operations with commemorative coins. The first is based on the characteristics of accounts 47414 "Payments for the acquisition and sale of commemorative coins" and 47415 "Requirements for payments for purchased and sold commemorative coins", enshrined in Regulation N 302-P, the second - on the temporary procedure for using these accounts, set out in Instruction N 224-U, general principles accounting and address clarifications of the Moscow GTU of the Bank of Russia. Ultimately, the choice of which position to adhere to remains with the credit institution and its accounting policy. And although the second approach seems to be more logical and consistent with general accounting approaches, it is possible that representatives of the Bank of Russia will insist on literally following the specific requirements for characterizing accounts 47414 and 47415 and, therefore, on using the first approach. But be that as it may, the accounting procedure chosen by the credit institution for operations with commemorative coins, including standard entries, should be fixed in the accounting policy.

Accounting for the packaging of commemorative coins

Since there is no reason to believe that the cost of a package is included in the cost of a commemorative coin, if this is not specified in the primary documents, therefore, the accounting for such packages should be organized as accounting for ordinary inventories, taking into account the requirements of Appendices 3 and 10 to Regulation N 302-P.

The cost of the packages purchased by the bank must be reflected by the bank on account 61008 "Materials" on the basis of clause 5.3 of Appendix 10 to Regulation N 302-P, according to which account 61008 "Materials" takes into account one-time use (consumed) for the provision of services, economic needs, in the process management, technical purposes inventory, including containers and packaging materials. When commemorative coins are retired, the cost of their packaging should also be written off. Based on the requirements of clause 5.9.3 of Appendix 10 to Regulation N 302-P, when attributing the value of inventories to expenses when putting them into operation or when using them, the following accounting entries are made:

Dt 70606 "Expenses"

Kt 610 "Materials".

But since packages of commemorative coins are not written off for operation and are not used by the bank for their own needs, but are transferred to buyers, accounting entries for their disposal must be reflected in compliance with the requirements of clause 10.5 of Appendix 10 to Regulation N 302-P, that is, using account 61209 "Retirement (realization) of property" and the derivation of the financial result from disposal. If the cost of the package is not specified separately in the documents drawn up during the sale of commemorative coins, then the financial result of the disposal of the package will obviously be a loss in the amount of its value.

Also, one should not forget that the transfer of packaging to the client both for a fee and free of charge for the purposes of calculating value added tax is recognized as a sale (clause 1 clause 1 article 146 of the Tax Code of the Russian Federation). Consequently, when commemorative coins in a package are retired, VAT must be calculated both on the price of the coins themselves and on the cost of the package.

E.A. Ilyina

Chief Accountant

Chelyabinsk branch

"Settlements and operational work in a commercial bank", 2010, N 5
OPERATIONAL WORK WITH COMMEMORATORY COINS
At a time when lending is only recovering and there is no clear understanding of the further development of the economy, for many banks one of the priority areas is the "commission business". Such businesses primarily include money transfers and currency exchange, but there are also other areas that allow you to earn income through commissions, and not by depositing funds, such as renting safe boxes or selling commemorative and investment coins.
Commemorative coins - commemorative, commemorative, investment and other coins of special coinage, which are the currency of the Russian Federation, in the manufacture of which expensive materials are used (in particular, precious metals), complex minting technologies and artistic design methods are used that give specific properties to commemorative coins and allow them to circulate both as a means of payment at face value, and as collectibles, investments, hoardings at a different value than the face value. Banks carry out purchase and sale transactions with commemorative coins provided for by the legislation of the Russian Federation. Commemorative coins are purchased by commercial banks at the Bank of Russia.
It is advisable to carry out operations for the sale of commemorative coins not only at the head office, but also at all additional offices of the bank. In this case, commemorative coins (as samples) offered for sale, as well as quotations for commemorative coins, are placed in offices in a place visible to customers. It is advisable to set sales prices for commemorative coins in offices centrally by order of the head office, taking into account the coverage of operating expenses and ensuring the profitability of operations based on selling prices for commemorative coins set by the Bank of Russia, as well as the requirements of tax legislation.
Interaction of bank departments
when carrying out operations with commemorative coins
For all offices, it is necessary to send out a list of commemorative coins of the Bank of Russia, which are available at the head office. Bank offices will send applications to the head office to receive the coins necessary for the offices to work. Delivery of commemorative coins to the bank's offices from the head office is carried out by the collection service in accordance with the procedure established by the bank in accordance with the applications of the bank's offices for reinforcement with commemorative coins. For management reporting and determining customer demand for certain types of coins, it is desirable that the bank's offices send monthly reports to the head office on commemorative coins sold in the previous month, separately for each type of coins.
The procedure for purchasing commemorative coins
The purchase of commemorative coins by the client is carried out at any office of the bank, an approximate procedure is as follows.
On the basis of the client's identity document, the responsible executor draws up an operation for the sale of commemorative coins in the automated banking system (hereinafter referred to as the ABS), as a result of which (in two copies) incoming and outgoing cash orders are formed. The incoming cash order shall indicate the amount paid by the client for the purchase of a commemorative coin, the name of the commemorative coin, the amount, account number and its denomination. An outgoing cash order shall indicate the name of the commemorative coin, quantity, account number, denomination and details of the client's identification document. Incoming and outgoing cash orders are signed by the client, the cashier who sells the commemorative coin, and the outgoing order is also signed by an employee who has the right to control signature. On the basis of an incoming cash order, the cashier receives funds from the client and, on the basis of an outgoing cash order, issues a commemorative coin to the client. Incoming and outgoing cash vouchers and instructions on established sales prices for commemorative coins are placed in cash documents and kept in accordance with the retention periods established for operations with precious metals.
Accounting procedure for operations with commemorative coins
We can recommend the following accounting procedure for operations with commemorative coins in the additional offices of the bank.
Transfer of coins at the request of offices from the head office:
Dt 20209 "Cash in transit" (nominal value)
Kt 20202 "Cash desk of credit organizations".
Receipt of coins by offices:
Dt 20202 "Cash desk of credit organizations"
Kt 20209 "Cash on the way".
Sale of coins to individuals:
a) payment of coins by the client:
Dt 20202 "Cash desk of credit organizations"
Kt 61209 "Disposal (sale) of property" (for each type of coins, the same for all offices) - for the amount of payment at the sale price of commemorative coins;
b) transfer of coins to the client:
Kt 20202 "Cash desk of credit institutions" - for the amount of the face value of the coins;
Dt 61209 "Disposal (realization) of property" (for each type of coins, the same for all offices)
Kt 47415 "Requirements for payments for purchased and sold commemorative coins" (single for all offices) - for the difference between the purchase price (sales price of the Bank of Russia) and the nominal value;
Dt 61209 "Disposal (realization) of property" (for each type of coins, the same for all offices)
Kt 60309 "Value added tax received" (single for all offices) - for the amount of VAT;
c) reflection of the financial result:
Dt 61209 "Disposal (realization) of property" (for each type of coins, the same for all offices)
Kt 70601 "Income", symbol 12403 (same for all offices), - for the difference between the sale price and the purchase price minus VAT.
Analytical accounting can be maintained both in the bank's ABS and in the form of spreadsheets, which reflect the sold coins and the balance of coins in the office cash desks. On the basis of such tables, submitted monthly by the offices, an authorized employee of the head office reconciles the data on the sale and balance of coins with the bank's balance sheet.
When selling coins made of precious metals (with the exception of collectible coins) that are the currency of the Russian Federation or the currency of foreign states, according to the Tax Code of the Russian Federation, value added tax is not levied. In accordance with Art. 149 of the Tax Code of the Russian Federation, collection items include:
- coins made of precious metals, which are the currency of the Russian Federation or the currency of a foreign state (group of states), minted using a technology that provides a mirror surface;
- coins made of precious metals that are not the currency of the Russian Federation or the currency of a foreign state (group of states).
When selling collectible coins, a value added tax is charged on the difference between the selling price and the book value of the coins sold in accordance with the Tax Code of the Russian Federation.
A.V. Pukhov
Head of Department
retail business
KB Spetssetstroybank (LLC)
Signed for print
22.09.2010

Entrepreneurs and lawyers individuals will deal with this issue themselves. My task is to enlighten ordinary “physicists”, individuals, in this matter. Consider a typical situation: a collector spends personal funds on his collection, but periodically sells something from the collection. Naturally, he does not want the tax authorities to tear off pieces from these sales, since he is already spending a lot. Well, and if you have to lawfully give something to the state, then I would like not to overpay and not run into trouble when, due to some nonsense, a modest hundred rubles of tax increase by another thousand in penalties and fines. If the sale takes place for cash without paper contracts, these issues, of course, do not bother anyone. If the sale takes place through someone, for example, through the Kizikin online auction, you have to “shine” your passport, sign the contract, and receive money by bank transfer. Different people have different attitudes to this: someone perceives it as easily as when selling for cash, someone cannot even imagine that his shabby ruble of 1896 will be sold “officially”. The truth, as is often the case, lies somewhere in the middle, in this case closer to the option "it's not much harder than just selling the thing for cash."

First, let's define terms.

1. Let's talk about coins, bearing in mind that what has been said applies equally to any movable property (antiques, cars, paintings, etc.). Let's just not list a long list each time.
2. We will call a seller an individual who sells his coins through a store. What is a store - see the next paragraph.
3. We will call a store any organization that helps sellers (see item 2) profitably get rid of their coins (see item 1). It can be a thrift store, an online auction or a regular auction, and indeed any intermediary.

1. If the coins have been owned by the seller for more than three years, then there is no need to pay or report.
2. Tax (personal income tax) is paid by the seller, he also submits a declaration to the tax office.
3. The tax is zero for "small" sellers whose annual revenue does not exceed 250 thousand rubles.
4. The store does not provide information about the seller anywhere. 5. If you forget everything at all, and suddenly the seller’s tax office calculates, then the “small” seller runs the risk of running into a fine of 1000 rubles.

1. The seller pays the tax, he also calculates this tax and submits the corresponding tax declaration to the tax authority at the place of residence.
2. The store is NOT OBLIGED to provide the tax authorities with information about the income received by the sellers.

1. If the coins have been owned for more than three years and this can be confirmed, there is no need to pay taxes or file declarations.
2. If the coins were owned for less than three years and the income from their sale is less than 250 thousand rubles. per year, then you do not need to pay tax, but you must submit a declaration and a requirement to provide a tax deduction.
3. If the coins were owned for less than three years, they are sold cheaper than they were bought, and there are documents confirming this, you do not need to pay tax even on sales of more than 250 thousand rubles, but you must submit a declaration and demand to provide a tax deduction.
4. If the declaration is not submitted, then in addition to the zero tax, a fine of 1000 rubles may come.

Commemorative coins

Commemorative, investment and other coins of special coinage, which are the currency of the Russian Federation, in the manufacture of which expensive materials (in particular, precious metals) are used, are called commemorative. In their manufacture, sophisticated minting technologies and decoration methods are used, which gives them specific properties and allows them to be used both as a means of payment at a nominal value, and as collectibles, investments at a different value than the nominal value. Banks carry out purchase and sale transactions with commemorative coins provided for by the legislation of the Russian Federation. Commemorative coins are purchased by commercial banks at the Bank of Russia.

It is advisable to carry out operations for the sale of commemorative coins not only in the head office, but also in all additional bank offices. In this case, commemorative coins (as samples) offered for sale, as well as quotes on them, are placed in a place visible to customers. It is advisable to set prices for commemorative coins in offices centrally - by order of the head office, taking into account the coverage of operating expenses and ensuring the profitability of operations based on selling prices for commemorative coins set by the Bank of Russia, as well as the requirements of the tax legislation of the Russian Federation.

Interaction of bank divisions in the course of operations with commemorative coins. For all internal structural divisions, it is necessary to send out a list of commemorative coins of the Bank of Russia that are available at the head office and where applications for receiving coins necessary for work will be sent. Delivery of commemorative coins to the bank's offices from the head office is carried out by the collection service in accordance with the procedure established by the bank, in accordance with the applications of the bank's offices for reinforcement with commemorative coins. For management reporting and determining customer demand for certain types of coins, it is desirable that bank offices send monthly reports to the head office on commemorative coins sold in the previous month - separately for each type.

An approximate procedure for purchasing commemorative coins is as follows:

Based on the identity document of the client, the responsible executor draws up an operation for the sale of commemorative coins in the ABS, as a result of which (two copies) incoming and outgoing cash orders are formed;

The incoming cash order indicates the number of coins purchased, the name of each of them, its denomination, the amount paid by the client for its purchase, account number;

The outgoing cash order also indicates the number of coins purchased, the name of each of them, its denomination, as well as the account number and data of the client's identity document;

Incoming and outgoing cash orders are signed by the client and the cashier who carries out the operation of selling the commemorative coin;

The expense order is also signed by an employee who has the right to control signature;

On the basis of an incoming cash order, the cashier receives money from the client, and on the basis of an outgoing cash order, gives him a commemorative coin; incoming and outgoing cash vouchers and instructions on established sales prices for commemorative coins are placed in cash documents and kept in accordance with the retention periods established for operations with precious metals.

D 20209810 - commemorative coins on the way (face value) - K 20202810 - commemorative coins at the bank's cash desk.

Receipt of coins by offices:

D 20202810 - commemorative coins at the office cash desk - K 20209810 - commemorative coins on the way.

Sale of coins to individuals:

Payment of coins by the client:

D 20202810 - office cash desk - K 61209810 (for each type of coins, the same for all offices) - sale of coins for the amount of payment at the sale price of commemorative coins;

Transfer of coins to the client:

D 61209810 (for each type of coins, the same for all offices) sale of coins - K 20202810 - commemorative coins at the cash desk of the office - in the amount of the face value of the coins;

D 61209810 (for each type of coins, the same for all offices) - the sale of coins - K 47415810 (the same for all offices) - for the difference between the purchase price (sales price of the Bank of Russia) and the nominal value;

D 61209810 (for each type of coin, the same for all offices) - K 60309810 (the same for all offices) - for the amount of VAT.

Reflection of the financial result:

D 61209810 (for each type of coins, the same for all offices) - income from the sale of commemorative coins - K 70601810 symbol 12403 (same for all offices) - for the difference between the sale price and the purchase price minus VAT.

When selling coins made of precious metals (with the exception of collectibles), which are the currency of the Russian Federation or foreign states, according to the Tax Code of the Russian Federation, VAT is not charged. In accordance with Art. 149 of the Tax Code of the Russian Federation, collection items include:

Coins made of precious metals, which are the currency of the Russian Federation or a foreign state (group of states), minted using a technology that provides a mirror surface;

Coins made of precious metals that are not the currency of the Russian Federation or the currency of a foreign state (group of states).

When selling collectible coins, a value added tax is charged on the difference between the selling price and the book value of the coins being sold in accordance with the Tax Code of the Russian Federation.