COVID-19 Legislative Changes for Business
1) Interest on deposits is subject to personal income tax (amendments to Article 214.2 of the Tax Code of the Russian Federation)
Calculating personal income tax on interest will start from income for 2021, and the payment of tax by individuals for 2021 will be in 2022. The tax is 13 percent and will not be applied to the deposit itself, but to the interest accrued by the bank.
The tax is calculated on all deposits in all banks and there is no point in dividing deposits among different banks. On demand deposits, the rate of which does not exceed 1%, are not taken into account, as well as on escrow accounts.
Interest on deposits up to 1 million rubles with the Central Bank rate are not subject to taxation.
Suppose now the Central Bank rate is 6 percent, then the deduction will be 60 thousand rubles. (1 million rubles * 6%). Personal income tax will be calculated only on income that exceeds this amount.2) From April 1, small and medium-sized companies have the right to charge contributions at a reduced rate of 15 percent.
A reduced tariff of 15% (10% - pension insurance, 5% - medical insurance) is valid for wages exceeding the minimum wage 12,130 rubles
3) News in the procedure for calculating benefits
Temporary rules for registration of sick leave due to quarantine have been approved (effective from 20.03 - 01.07.2020) by Decree of the Government of the Russian Federation of 18.03.2020 No. 294..
On the website of the State Duma of the Russian Federation, draft law No. 931441-7 is posted, which provides for amending the procedure for assigning disability benefits and monthly payments in connection with the birth of the first and second child. Please note that the new rules will be valid for a limited period.4) The amount of unemployment benefits has been increased
The maximum amount of unemployment benefits in 2020 is equal to the current minimum wage - 12,130 rubles. (Resolution of 27.03.2020 No. 346). The minimum size remained - 1,500 rubles.
Address of the President of the Russian Federation and its consequences for business:
For small and medium-sized businesses (for industries that are affected by the current situation), the following are provided:
- Deferral of payment of all taxes, except VAT, for the next 6 months;
- Additionally, for micro-enterprises, deferral of insurance premiums;
- Postponement of loan repayment for the next 6 months.
Please note that the delay in payment does not imply an exemption, that is, taxes will have to be paid.
The FTS website now has answers to frequently asked questions:
The Federal Tax Service of Russia has published answers to the questions of taxpayers about measures to support small and medium-sized businesses, which the President instructed to implement in his address dated March 25.
Thus, the list of spheres of activity most affected by the deteriorating situation due to the spread of coronavirus infection is established by the Government. On his instructions, the Federal Tax Service of Russia suspended the collection measures until May 1. The deferral of collection applies to taxpayers related to the industries of tourism, air travel, physical culture, sports, arts, culture and cinematography, as well as catering, education, household, hotel and exhibition services. The measure will be applied based on the lists of organizations and OKVED codes, which are provided to the Tax Service by the responsible departments
Also, until May 1, the application of penalties against small and medium-sized businesses, information about which is entered in the relevant register, is suspended. During this period, no decisions will be made to suspend transactions on accounts to ensure debt collection. The Service will apply all these measures on its own, no filing of applications from taxpayers is required.
The Federal Tax Service of Russia draws attention to the fact that the collection measures are suspended from March 25, 2020. Previous decisions will not be revoked. Amounts receivable prior to this date refer to the 2019 periods.
Now the Government is working on amendments to the legislation in accordance with the instructions of the President. So, in the near future, the issue of obtaining a deferral of debt repayment after May 1 will be resolved, as well as the accrual of penalties on the amount of accumulated debt during the moratorium.
These answers are published in the "Debt" section. Lists of taxpayers by industry will also be posted, in respect of which the Government of the Russian Federation has given instructions to take measures to postpone debt collection until May 1, 2020.
https://www.nalog.ru/rn77/news/activities_fts/9700983/
https://www.nalog.ru/rn77/taxation/debt/ncov/
https://www.nalog.ru/rn77/news/activities_fts/9704633/
https://www.nalog.ru/rn77/business-support-2020/
The Federal Tax Service of Russia, on instructions from the President of the Russian Federation and the Government of the Russian Federation, implemented measures to support taxpayers while business and consumer activity decreased due to the threat of the spread of coronavirus infection
1. SUSPENSION OF CHECKS
Until May 1, 2020, the Federal Tax Service of Russia suspends the appointment of field tax audits. The checks of users of online cash registers are postponed, as well as control measures to comply with the requirements of foreign exchange legislation and issues of state-regulated activities in the field of gambling and lotteries in relation to all categories of taxpayers, including small and medium-sized businesses.
On-site inspections, started earlier, have also been suspended. Unfinished inspections of the application of CCT and currency legislation, as well as unfinished proceedings in cases of administrative offenses will be carried out without direct contact with taxpayers - via telecommunication channels, through the taxpayer's personal account, by mail.
2. SHIFTING DEADLINES FOR SUBMISSION OF REPORTS
The deadline for submitting accounting (financial) statements for 2019 is postponed from March 30 to April 6, 2020 This is due to the fact that March 30 coincides with a non-working day established by the Decree of the President of the Russian Federation of March 25, 2020 No. 206
3. SUSPENSION OF COLLECTION MEASURES
The application of penalties is suspended until May 1, 2020:
- for taxpayers, information about which is included in the unified register of small and medium-sized businesses;
- for taxpayers related to the tourism and air transportation industries;
- for business entities working in the spheres of physical culture, sports, art, culture and cinematography;
- other industries most affected by the deteriorating situation due to the spread of the new coronavirus infection, to provide priority targeted support. The list of such industries was approved by the Government Commission to improve the sustainability of the development of the Russian economy/span>
For SMEs, decisions are also postponed to suspend transactions on their accounts to ensure debt collection.
The Tax Service will apply these measures on its own. Taxpayers are not required to submit additional applications.
Lists of companies and codes of the main type of economic activity for the provision of deferred collection are provided to the Tax Service by authorized ministries and departments. The lists of organizations and answers to topical questions of taxpayers can be found in a special section of the "Debt" section on the website of the Federal Tax Service of Russia.
Penalties will be suspended from March 25, 2020. Previous decisions will not be revoked. Amounts receivable prior to this date refer to the 2019 periods.
Deferrals or installment plans after May 1 will be provided in accordance with the instructions of the President of the Russian Federation and the Government of the Russian Federation aimed at supporting small and medium-sized businesses, micro-enterprises and companies that operate in the affected industries.
4. SETTLEMENT AND DELAY OF BANKRUPTCY
In pursuance of the instructions of the Government of the Russian Federation, the Federal Tax Service of Russia completely suspended the filing of bankruptcy applications from March 16 until the implementation of the instructions of the President of the Russian Federation and the Government of the Russian Federation on the introduction of a moratorium on bankruptcy.
5. CHANGE OF DATES FOR PAYMENT OF TAXES AND INSURANCE PREMIUMS
For organizations and individual entrepreneurs most affected by the spread of coronavirus infection, employed in these areas in their main activity, the following measures of priority targeted support have been taken:
The deadlines for the payment of all taxes, except for VAT and personal income tax, are postponed:
- на for six months for companies and individual entrepreneurs included in the register of SMEs
- на for three months for other business representatives not included in the Register of SMEs
The deadlines for the payment of insurance premiums for organizations on the list of main types of economic activity are postponed:
- for six months for micro-enterprises.
The list of industries was approved by the Government Commission to improve the sustainability of the development of the Russian economy
6. SHIFTING THE TIME OF SUBMISSION OF THE PROPERTY TAX DECLARATION
In connection with the Decree of the President of the Russian Federation of March 25, 2020 No. 206 on non-working days from March 30 to April 3, 2020, the deadline for submitting a declaration on corporate property tax for 2019 has been extended until April 6. The State Duma has endowed the Government of the Russian Federation with powers to further extend this period.