The Russian Ministry of Finance proposed to increase the penalty for failure to pay taxes on 66% of 1/300 of the refinancing rate up to 1/180. Such a proposal found in the draft guidelines for tax policy, wrote the newspaper “Vedomosti”.
This measure, as planned by the officials, should increase the effectiveness of fines as a tool for timely collection of taxes and reducing debt, as in the current rate of payment of penalty is favorable Bank loans, and businessmen often use unpaid taxes as cheap loans.
– The Ministry of Finance proposes to tax “neoformans” property
– The state Duma will discuss the abolition of the vehicle tax due to the excise taxes on gasoline
85% tax debt now – debt companies, including one-day firms and bankrupt. 10% of this amount is attributable to a particularly large debtors.
Penalties for tax evasion credit of banks on an annual basis is of 12.17% vs 15,8% on average in ruble loans to a year for small and medium businesses. In the case of adoption of the proposal of the Ministry of Finance for the tax late will have to pay 20.3 per cent per annum.
On this issue, reminds the edition, complained even in 2015, Finance Minister Anton Siluanov, then the refinancing rate was 8.25 percent. In 2016 the refinancing rate was equal to the key, now it is 10%.
The newspaper’s sources, however, failed to indicate the expected financial result from increasing interest rates, as there is a problem of bad debts, to recover which will not succeed.
The growth rates of fines are unlikely to be forced to pay those who have no money, or those who knowingly went to a tax crime. We will note, according to the chamber, at the beginning of 2016, the volume of outstanding taxes and levies in Russia amounted to 1.2 trillion rubles. 1 trillion of them – bad debts.
Earlier, the Finance Ministry has proposed 2017 start to collect the premiums from all the payroll at a flat rate of 29%, and by 2019 to bring it to 26%.
In addition, according to several officials, the Ministry has developed an alternative option in 2017 to raise VAT to 20%, a ten percent preferential rate raised to 12% and from 2019 to start to increase the rate by two percentage points per year until it is equal to non-concessional 20%.
Later, the press Secretary of the President Dmitry Peskov said that the issues of tax maneuvers are addressed in meetings of the head of state, but their discussion is the prerogative of the government.
In the end, however, the Ministry of Finance spoke in favour of maintaining the current configuration of tax system of Russia for the next three years. Proposals to increase tax rates on profits and on income of natural persons will remain unfulfilled for at least another year. In 2017, according to analysts, the rate will be made on the growth of public debt and the increase in tobacco, wine and fuel excise taxes.
As predicted this week, the newspaper “Kommersant”, the final construction budget, which should get to the Cabinet meeting on October 13 will be a compromise between the option “the growth of public debt” and the budget projections outlined by the Ministry of Finance in July 2016, the newspaper writes.
It is expected that some reduction in Federal spending will be implemented as a pure cost reduction and by reducing amounts of public procurement due to the rapid fall of the rate of growth of prices. The rest of the office to focus on a point solution to most sensitive issues of tax optimization and improving payment discipline.
So, for large companies and consolidated groups of taxpayers should increase the effective rate of income tax.
The Ministry of Finance will forbid companies to reduce the losses of the previous years base for tax payment by more than 30% of the profits of the current year, the newspaper writes, reminding that the instruction to resolve the issue of refund of excess tax on profits was given by the Prime Minister Dmitry Medvedev at meeting on problems of regional budgets in mid-August.