The terms of payment of insurance premiums are postponed
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The terms of payment of insurance premiums are postponed

The terms of payment of insurance premiums are postponed

LEGAL DIGEST, NEWS \ 28.04.2020

Since April 24, 2020, changes have come into force that allow all representatives of small and medium-sized businesses, not just micro-enterprises, to receive a postponement of payment of insurance premiums to state non-budgetary funds. This measure applies to SMEs that:

  • are included in the Unified register of small and medium-sized business entities as of March 1, 2020
  • and carry out activities in the most affected branches of the economy according to the List approved by the Decree of the Government of the Russian Federation No. 434 dated 3/4/2020.

The rule applies to all mandatory payments for all types of insurance (pension, medical, social), including contributions for traumas, and operates as follows:

The accrual period Ordinary term New term The postponement period
March April 15 October 15 6 months
April May 15 November 16 6 months
May June 15 December 15 6 months
June July 15 November 16 4 months
July August 17 December 15 4 months

For August, September, November, and December, the postponement of payment terms is not yet provided.

We would like to remind you that for SMEs, there is a postponement of payment terms and other taxes, as well as their advance payments: profits tax, unified tax under the simplified taxation system (STS), transport tax, property tax, land tax, etc. The full list of taxes that are subject to postponement of payment term is reflected in the List approved by the Federal Tax Service on the basis of the Decree of the Government of the Russian Federation No. 409 dated 2/4/2020.

Also, a special procedure for paying these taxes and contributions has been defined. According to the introduced amendments, payment of the corresponding mandatory payments is made monthly in equal parts in the rate of 1/12 of the amount not later than the last day, starting from the month following the month in which the tax or contribution payment period is due, taking into account the postponement.

A detailed algorithm for calculating payments of main taxes for organizations can be found here.

Document:  Decree of the Government of the Russian Federation No. 570 dated April 24, 2020.

Acsour