Keywords
taxation
ecology
carbon certificates
producers of agricultural products
How to Cite
Abstract
Modern environmental challenges are driving the agricultural sector to implement energy-saving technologies and reduce CO₂ emissions. One of the mechanisms of environmental transformation is the system of carbon certificates, which allows agricultural producers to receive financial benefits from decarbonization measures. In this context, it is relevant to study the accounting and taxation of operations with carbon certificates for the effective management of financial resources of enterprises. The article investigates the peculiarities of changes in accounting and taxation arising from the introduction of new environmental mechanisms, in particular, carbon certificates for agricultural enterprises. Ukraine has a Decarbonization Fund, which is part of a special fund of the State Budget of Ukraine. By using energy-saving technologies, agricultural producers, in particular in the crop and livestock sectors, can obtain carbon certificates, as these industries are the main sources of CO₂ emissions. The main goal of such eco-projects is to reduce carbon emissions. For agricultural producers, this is also beneficial from a financial point of view, as each verified certificate can bring from 20 to 60 euros per 1 hectare of land. From an accounting perspective, two key objects are considered: the carbon certificate and the funds received from its sale, which form the company's income. Expected receipts should be reflected in the credit of account 69 “Deferred income” and the debit of subaccount 183 “Other receivables” or 377 “Settlements with other debtors”, where the debtor is the Decarbonization Fund. When funds are received, subaccount 312 “Current accounts in foreign currency” should be debited and the corresponding subaccount 377 or 183 should be credited. At the same time, deferred income is reclassified to current period income by debiting account 69 and crediting subaccount 719 “Other income from operating activities”. In order to intensify the transition of the agricultural sector to environmentally friendly technologies, incentive mechanisms have been proposed, the key of which is a tax benefit. In particular, it is advisable to exempt from taxation the part of the profit received from the sale of carbon certificates.
References
1. Ukrinform. (n.d.). V Ukraini zapraciuvav Fond dekarbonizatsіi [The Decarbonization Fund has started operating in Ukraine]. Ukrinform. https://www.ukrinform.ua/rubric-economy/3807550-v-ukraini-zapracuvav-fond-dekarbonizacii.html (in Ukrainian)
2. Guaranteed Buyer State Enterprise. (2021). SWAM – what is it? Guaranteed Buyer State Enterprise. https://www.gpee.com.ua/news_item/807
3. Bhardwaj, M. M., Prakash, N., & Uniyal, A. K. (2021). Taxation and Accounting Issues of Carbon Credit Emmission: A Study of Uttarakhand. Webology 18(4), 1847-1860. https://doi.org/10.29121/web/v18i4/8
4. Gallego-Alvarez, I., Martínez-Ferrero, J., & Cuadrado-Ballesteros, B. (2016). Accounting treatment for carbon emission rights. Systems, 4(1), 12. https://doi.org/10.3390/systems4010012
5. Konradt, M., & Weder di Mauro, B. (2023). Carbon taxation and greenflation: Evidence from Europe and Canada. Journal of the European Economic Association, 21(6), 2518-2546. https://doi.org/10.1093/jeea/jvad020
6. Martinsson, G., Sajtos, L., Strömberg, P., & Thomann, C. (2024). The effect of carbon pricing on firm emissions: Evidence from the Swedish CO2 tax. The Review of Financial Studies, 37(6), 1848-1886. https://doi.org/10.1093/rfs/hhad097
7. Roston, M., Seiger, A., & Heller, T. (2023). What’s next after carbon accounting? Emissions liability management. Oxford Open Climate Change, 3(1), kgad006. https://doi.org/10.1093/oxfclm/kgad006
8. Zinchenko, O. A., Pryvarnykova, I. Y., Yakovenko, V. S., Redko, V. S., & Pashchenko, O. V. (2023). Zbirka keisiv “Yevropeiski praktyky ekolohichnoi vidpovidalnosti ta svidomoho spozhyvannia” [Case collection “European practices of environmental responsibility and conscious consumption”]. Oles Honchar Dnipro National University. https://www.dnu.dp.ua/docs/Jean%20Monnet/Zbirka%20keisiv_DOC.pdf (in Ukrainian)
9. Chigrin, O., & Shcherbak, A. (2011). Analiz problemy vprovadzhennia ekolohichno chystoho vyrobnytstva v Ukraini [Analysis of the main problems of ecologically pure production implementation in Ukraine]. Mechanism of Economic Regulation, (1), 235–241. https://surl.li/hcajov (in Ukrainian)
10. Zvit shchodo instrumentiv stymuliuvannia zelenoi modernizatsii promyslovykh pidpryiemstv v krainakh YeS ta v Ukraini (2020). [Report on instruments to stimulate green modernization of industrial enterprises in the EU and Ukraine]. https://livingplanet.org.ua/images/2023/04.032020_zvit.pdf (in Ukrainian)
11. Malyshkin, O. (2024). Vuhletsevi sertyfikaty: yak oblikuvaty? [Carbon certificates: how to account?] Materialy UII Vseukrainskoi nauk.-prakt. konferentsiia «Aktualni problemy rozvytku obliku, analizu ta kontroiu v sotsialno-oriientovanii systemi upravlinnia pidpryiemstvom» – Materials of the VII All-Ukrainian Scientific and Practical Conference “Actual Problems of Development of Accounting, Analysis and Control in the Socially Oriented System of Enterprise Management”. Poltava State Agricultural University, Poltava, p. 106–108. (in Ukrainian)
12. Baianov,M. (2022). Yak zarobyty do 500 dolariv z hektara na vuhletsevykh kredytakh [How to earn up to 500 dollars per hectare on carbon credits]. Kurkul. https://kurkul.com/spetsproekty/1250-yak-zarobiti-do-500-dolariv-z-gektara-na-vugletsevih-kreditah (in Ukrainian)
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Copyright (c) 2025 Oleksandr Malyshkin