RussiaAccounting and Audit
In this tax alert we consider recent legislation on the deferment of tax debts and on the tax privileges available for small enterprises.
DEFERMENT OF TAX PAYMENTS
Presidential Decree No 65 of 17 February 1996 gives enterprises with tax arrears outstanding as at 1 January 1996 the opportunity - until 15 March 1996 - to apply for a deferment of these arrears. A letter of the Ministry of Finance and State Tax Service clarifies the implementation of the Decree.
To take advantage of this deferment, an application must be filed with the financial body of the local authority where the taxpayer is registered, and before it is granted, the local tax inspectorate and pension fund must confirm the exact amounts outstanding as at 1 January 1996.
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