THE FEATURES OF THE RECONSTRUCTION AND MODERNIZATION OF FIXED ASSETS IN AGRIBUSINESS COMPANIES: LEGAL, TAX AND ACCOUNTING ASPECTS

the article considers the tax and accounting aspects of the implementation of measures for maintenance and restoration of fixed assets of economic entities operating in the agricultural sector of the economy. The economic content of the reconstruction and modernization of fixed assets and the fundamental differences in the content of these two types of recovery of fixed assets, as well as legal conflicts in determining these types of repairs are determined. Reasonably the main target application areas of re-construction assets are allocated as determined by the decision of the heads of enterprises and technical characteristics of the operated assets. The tax consequences of the implementation of action to restore or upgrade the quality of fixed assets, and the peculiarities of reflection of these operations in the information accounting system of agricultural enterprises are analyzed. Attention is paid to the requirements of the Tax Code of the Russian Federation to the implementation of repairs in the form of reconstruction and modernization, rules of the applicable accounting standard on accounting for fixed assets, the norms of Gosstroy of the Russian Federation and the provisions of the town planning code of the Russian Federation on the issue. On the basis of the conducted research the main approaches to the renovations in the form of reconstruction and modernization are identified, fully meet the requirements of accounting and tax legislation of the Russian Federation. The results of the present study allow us to determine the conceptual differences of the renovation work in the form of modernization and reconstruction, and provide an opportunity for economic and accounting and analytical services of enterprises carry out their economic activity in the agricultural sector of the economy clearly define what kind of repairs of the basic production assets it is expedient to implement, given the resulting accounting and tax implications.