How To Write Off A Car From The Balance

Video: How To Write Off A Car From The Balance

Video: How to Write Off Your Dream Car Tax Free in 2021 2024, November

2024 Author: Maria Gibbs | [email protected]. Last modified: 2023-12-16 03:05

From time to time, there are situations when a company has to write off a car from the balance sheet. In order to do this correctly, it is necessary to evaluate the vehicle in advance. In most cases, such a procedure affects specifically state or budgetary institutions or organizations.

Instructions

Step 1

Writing off a car from the balance sheet is a necessary procedure for every company. It would seem that you can leave outdated equipment in the warehouse and live in peace. However, even for unused equipment, the budgetary organization pays tax.

Step 2

So, the first thing to do is get a valuation report or AMTS. This document contains all information about the condition and residual value of the machine. After that, proceed to the official write-off of the car, its sale for parts, etc.

Step 3

If we talk about the procedure for determining the residual value of a vehicle, then it consists of several stages:

Write a statement to remove the car from the traffic police register. To do this, provide the government agencies with a passport, registration certificate, registration certificate and other papers;

Step 4

Hand over your license plates;

Step 5

Wait 10 days, during which all documents are checked and submitted to the tax office;

Step 6

Get the final cost of the vehicle tax.

Step 7

You may need to undergo additional technical inspection, show extracts issued to replace lost documents, power of attorney for a vehicle, etc.

Step 8

Now proceed to the procedure for writing off the car itself. For this, the director of the company must draw up an order for the disposal of the vehicle. All that remains is to visit government agencies, in particular, the traffic police and put a seal. It is worth paying attention to the fact that this operation can be done in any area of your city, regardless of the place of residence or location of the company.

Step 9

Pay all taxes in March, including depreciation. The fact is that in Russian legislation (Art. 362, clause 3 of the Tax Code of the Russian Federation) it is said that the month of removal of a vehicle from registration is calculated as the entire month. You also need to pay transport tax.

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