Changes in Tax Legislation
- Author: Dmitry Churin
- Date: 22.04.2014
Federal Law No.52-FZ dated April 2, 2014 “On introducing amendments to Part One and Part Two of the Tax Code of the Russian Federation and certain legislative acts of the Russian Federation” (hereinafter the “Law”) came into effect on May 2, 2014 and established the following changes:
- The Law cancels the obligation of organizations and individual entrepreneurs to report to the tax inspectorate on opening/closing of bank accounts and on accrual or termination of the right to use corporate electronic payment facilities for transferring electronic funds.
It should be noted that the same obligation is cancelled in relation to notifying the non-budgetary funds on opening/closing of an account (pursuant to provisions set by Law No.59-FZ dated April 2, 2014). This obligation terminated on May 1, 2014.
- The amended Clause 4 Article 105.14 of the Tax Code now contains an expanded list of transactions which cannot be deemed controlled transactions. Due to the innovations, the transactions in the sphere of military and technical cooperation of the Russian Federation with foreign governments maintained pursuant to Federal Law No.114‑FZ dated July 19, 1998 “On military and technical cooperation of the Russian Federation with foreign governments” (Clause 9 Article 1 of the Law) will not be deemed controlled transactions.
- The Law establishes grounds for releasing taxpayers from liability for reporting erroneous information in a notification on controlled transactions (Article 129.4 of the Tax Code). A taxpayer will be released from liability in the event it submits a clarified notification on the controlled transactions before the taxpayer learns that the tax body had ascertained the fact of the erroneous information in the notification on the controlled transactions (Clause 10 Article 1 of the Law).
- The Law also introduced amendments into Part Two of the Tax Code, according to which taxpayers using the simplified tax system (the “STS”) and the tax system in form of unified tax on imputed income (the “UTII”) previously released from the obligation to pay property tax, will be obliged to pay the tax on real estate property facilities, with the tax base being determined as the cadastral value according to the provisions of Articles 375 and 378.2 of the Tax Code (Clauses 1 and 3 of Article 2 of the Law).
It is important to note that taxpayers are obliged to calculate the real estate property tax on the facilities according to their cadastral value only after a regional law is adopted establishing the peculiarities of the tax base determination on the basis of the cadastral value of the real estate property (Clause 2 Article 378.2 of the Tax Code).
For taxpayers using the STS, these innovations come into force on 01.01.2015, and the taxpayers using the UTII will be obliged to pay the property tax on real estate property facilities starting from 01.07.2014 (Clause 4 Article 7 of the Law).
Should any questions arise in connection with the above or if you need any additional materials, please contact Dmitry Churin or Elena Lepneva, St. Petersburg Office of Capital Legal Services.
This Information letter keeps the clients of the Capital Legal Services and other interested parties abreast of information that may, to any extent, affect their activity or cater to their particular interests. The opinions and commentaries expressed in this Information letter shall not be deemed as legal opinions.