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Key amendments to tax legislation

Key amendments to tax legislation

LEGAL DIGEST \ 19.08.2018

The summer now departing has featured an abundance of drafts and laws concerning taxation. Below we set out the most important ones:

  • the period of a VAT desk audit has been reduced from 3 months to 2 months, which will have a positive effect on the quantity of documents that are requested;
  • no increase to 26% of contributions for pension insurance is expected in 2021: the temporary tariff (22% within the maximum amount and 10% in excess of it) will become permanent;
  • tax on a company’s moveable property is being abolished;
  • the timeframe for companies to submit documents pertaining to a specific transaction during a desk tax audit has been extended to 10 days (the general timeframe now is 5 days);
  • the number of documents a company submits to confirm its eligibility for 0% VAT under export transactions is decreasing;
  • there will be fewer controlled transactions: internal Russian transactions will be recognized as controlled transactions if revenues from them exceed RUB 1 billion, while transactions with related foreign entities will be recognized as controlled transactions if annual revenues under such transactions exceed RUB 60 million.

For more details about amendments to tax legislation, please contact Acsour.

Acsour