#Legal_news Tax deferral mechanisms will be improved The Re | Legal Info

#Legal_news

Tax deferral mechanisms will be improved

The Resolution of the President "On improving the mechanisms for deferring the payment of taxes by domestic and foreign investors" was adopted.

According to the resolution, from January 1, 2022, business entities are granted (with the exception of enterprises with a state share of more than 50 percent, subsoil users and manufacturers of excisable products) the right to defer payment of taxes accrued on property tax and land tax when acquiring property rights to land plots and (or) buildings and structures with a total area of more than 1,000 square meters, for a period of six months.

Wherein:

the right to defer the payment of taxes is valid for three months from the date of state registration of the property right to land plots, buildings and structures, with notification of the state tax authorities and without requesting security for its payment (pledge);

the validity period of the tax deferral is the date of sending the notification in accordance with the established procedure to the state tax authority, and the deferred tax amount is paid during the year in equal shares together with accrued interest from the date of expiration of this notification. Meanwhile, interest for using the possibility of changing the terms of payment of taxes is accrued in the amount of 50 percent of the main rate of the Central Bank from the date of tax deferral;

when selling or leasing a land plot and (or) buildings and structures during the period of deferral of tax payments, the amount of taxes calculated during the period of deferral of property tax and land tax is charged in full;

business entities included in the group of taxpayers with an increased risk of violating tax legislation are not provided with a tax deferral.

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