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Does an organization have the right to take into account when taxing the amount of interest accrued on a non-overdue credit (loan) received for the purpose of repaying another credit (loan)?
Answer: It has the right if the initial loan (loan) was intended for purposes related to the production and sale of goods (works, services), property rights.
This answer was given in the letter of the Ministry of Taxes and Taxes dated May 26, 2017 No. 2-2-10/01015 “On taking into account bank fees and interest on loans as expenses when calculating income tax.” Thus, the costs of paying interest for using a loan (credit), the purpose of obtaining which is not directly related to the production and sale of goods (works, services), property rights and entrepreneurial activity in general. Is. Payers are not subject to accounting for taxation of profits as part of expenses taken into account, as well as as part of non-operating expenses.
In the context of a loan aimed at repaying a previously received loan used for the purchase of goods or other production needs, the cost of paying interest on the loan when taxing profits as part of expenses in the generally established manner are taken into account. Art. 169 N.K.
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