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Economy and entrepreneurship

16.07.2015, 15:17

Individual entrepreneurs can submit sales tax notifications by end of July

Individual entrepreneurs can submit sales tax notifications by end of July

As of 15 July, over 35,000 sales taxpayer notifications were submitted to tax agencies, Moscow Government Minister and Head of the Department for Economic Policy and Development Maxim Reshetnikov said.

On average, one notification accounts for two retail facilities, he said.

According to information from the Federal Taxation Service’s Moscow Department, entrepreneurs continue to send notifications, mostly by mail.

Entrepreneurs were to submit sales taxpayer notifications from 1-7 July to a tax office. Organisations and businesspeople that failed to submit them in the specified period still have the opportunity to do so, with a fine of 200 roubles to be paid for a late submission.

“They should come and submit the notification now. If later an inspection reveals that an individual performs illegal trade in an unauthorised area, the fine will total 10 percent of the turnover, but no less than 40,000 roubles. Additionally, in this situation, we won’t be able to reduce the income tax on the sales tax sum, the tax calculated under the simplified tax system or personal income tax (for individual entrepreneurs under the general taxation system),” Mr Reshetnikov said.

He also noted that tax agencies have made every effort to ensure a convenient procedure for organisations and entrepreneurs to submit these notifications. The Department for Economic Policy and Development has been placed into an enhanced operation schedule. Its staff members have held additional consultations at the Federal Taxation Service’s Moscow Department on submitting notifications and sales tax payment.

For taxpayers’ convenience, the Federal Taxation Service has developed special software, Taxpayer — Legal Entity, which allows notifications to be submitted online. Some 13,000 organisations and entrepreneurs have chosen this way to submit notifications.

All detailed information regarding the sales tax payment, rates and benefits procedure, as well as frequently asked questions, can be found on the website of the Department for Economic Policy and Development in the Sale Tax section.