Corporate income tax in Russia 2 main systems of business taxation скачать в хорошем качестве

Corporate income tax in Russia 2 main systems of business taxation

An organization’s income tax is a direct tax, which is directly related to the organization’s final financial performance. Who pays the tax? • All Russian legal entities • Foreign legal persons who work in Russia through permanent missions or simply receive income from a source in the Russian Federation • Foreign organizations recognized by tax residents of the Russian Federation under an international tax treaty - for the purposes of the application of the treaty • Foreign organizations with de facto administration in the Russian Federation, unless otherwise provided by an international tax treaty Who doesn’t pay the tax? • Taxpayers who apply special tax regimes (ECT, SFD, EHS) or pay a gambling tax • Project Innovation Center «Skolkovo» There are two tax regimes for companies in Russia - general regime and special regime. An organization using the general taxation regime is obliged to: 1) Maintain accounting records; 2) Submit accounting and tax reports to the inspectorate; 3) Pay the main taxes - value added (VAT) and profit. Basic rate is 20%. 2% to the federal budget (3% in 2017-2024); 0% for certain categories of taxpayers, the list of which is given below. 18% to the budget of the constituent entity of the Russian Federation (17% in 2017 - 2024). The legislative bodies of the constituent entities of the Russian Federation can lower the tax rate for certain categories of taxpayers, but not more than to 13.5% (12.5% in 2017-2022). The rate can be even lower: • for residents (participants) of special economic zones and free economic zones (clause 1, clause 1.7 of article 284 of the Tax Code of the Russian Federation); • for participants in regional investment projects (clause 3 of article 284.1 of the Tax Code of the Russian Federation; clause 3 of article 284.3 of the Tax Code of the Russian Federation); • for organizations that have received the status of a resident of the territory of advanced social and economic development or the free port of Vladivostok (clause 1.8 of article 284 of the Tax Code of the Russian Federation, article 284.4 of the Tax Code of the Russian Federation). A tax return is provided (Article 289 of the Tax Code of the Russian Federation): • Not later than 28 days from the date of the end of the relevant reporting period • Not later than March 28 of the year following the expired tax period The declaration must be submitted to the tax office: • at the location of the organization; • at the location of each separate division of the organization. Special tax regimes are designed to make life as easy as possible for small businesses. And the simplified taxation system (STS) is the most common of the special regimes, since it replaces income tax, corporate property tax, and value added tax (VAT). To apply the simplified tax system, the created company must meet the following criteria: 1) The share of participation of other organizations (including foreign ones) - no more than 25%; 2) The level of income should be no more than 200 million rubles. per year; 3) Average number of employees - no more than 130 people; 4) The residual value of fixed assets - no more than 150 million rubles. (2.14 mln EUR) Within the framework of the simplified tax system, you can select the object of taxation of income or income, reduced by the amount of expenses incurred (sometimes they say “income minus expenses”, article 346.14 of the Tax Code of the Russian Federation). With the object of taxation "income" the rate is 6%. According to the laws of the constituent entities of the Russian Federation, the rate can be reduced to 1%. The tax is paid on the amount of income. When calculating the payment for the 1st quarter, the income for the quarter is taken, for the half-year - the income for the half-year, etc. If the object of taxation is “income minus expenses”, the rate is 15%. The tax return is submitted at the location of the organization or the place of residence of an individual entrepreneur. My name is Sergey Konon, I am a certified tax lawyer, a member of the chamber of tax consultants of Russia and a partner of Vita Liberta Limited, a Russian consulting company in the field of corporate and tax law. Get in touch with us: [email protected] Our website: www.vliberta.com Our Instagram: www.instagram.com/vitaliberta_russia/ Our telegram channel: t.me/vitalibertalimited What's up: +79269205551 Disclaimer: This video is not the equivalent of professional legal advice. Konon Sergey is not liable for any actions taken by anybody. For any professional advice regarding particular case, please contact our office (What's up): +79269205551