News

In April issue there is provided summary of judicial practice in terms of tax litigation for February 2009, as well as articles of FBK experts on topical issues.

So, in the article “Tax Accounting of Expenses on Web-Site Development” Alexander Sotov, Partner of FBK-Legal Moscow Bar, Ekaterina Dbar, Lead Legal Adviser and Alesya Khomich, Legal Adviser, are answering whether a company should account expenses on web-site development among intangible assets. As experts note, to recognize a web-site as intangible asset, tax-payer should possess exclusive rights to it. Meanwhile it is necessary to keep in mind that in the RF Tax Code it is not indicated exactly which scope of exclusive rights to intellectual property object creates intangible asset—complete set of exclusive rights or their part only. This means that availability of at least one type of exclusive rights to internet web-site generates company intangible asset. If it is not indicated in the contract that web site developer reserves exclusive rights to internet web site, according to general rule, exclusive rights to the web-site are fully transferred to public.

At the same time FBK-Legal experts note that web-site, as the result of intellectual activity, is referred to depreciating property. This is why all expenses of company on development of a web-site are to be accounted for taxation purposes through generation of cost of intangible assets which will be repaid by depreciation deductions.

Pilot issue of monthly electronic magazine Financial and Accounting Advice was published in September 2009. The issue continues highlighting subjects of business magazines Your Tax Lawyer, Novelties in Accounting and Financial and Accounting Advice, which used to be published on paper.