Forte Tax & Law » News » Meeting of debating club #SPIBATaxTalks: Abolition of movable property tax
Meeting of debating club #SPIBATaxTalks: Abolition of movable property tax
The second meeting of the debating club #SPIBATaxTalks was held on April 02, 2019 to discuss at a round table organized by SPIBA a specific tax topic brought up at the initiative of Forte Tax & Law.
The topic of discussion this time was the abolition of movable property tax and the related tendency of tax authorities to “immobilize” movable property. This topic is currently so relevant in the business community that attendance at the round table at Nove bar in Domina St. Petersburg Hotel reached almost full capacity.
To ensure that the event would be as productive as possible, participants had been requested to fill out an online survey on whether there are any “disputed” fixed assets in their organization and how they intend to record them for tax purposes. What this survey showed is that opinions on many assets are very different.
A lively discussion ensued from this event where everyone had the opportunity to voice their opinion and justify why a particular asset should be classified as movable or immovable property. The speakers and guests went through all “disputed” fixed assets such as, for example, enclosures, roads, advertising structures, etc. and discussed how these assets are currently recorded for tax purposes. Various approaches used to classify assets as well as those from foreign jurisdictions were also discussed.
The event guests really appreciated the free format of the event which was to the liking of so many that meetings of the debating club #SPIBATaxTalks will definitely continue to be held this way.
If you would like to suggest interesting topics for future meetings or participate in meetings, please contact Anton Kabakov.