Russians reminded of tax cuts effective January 1

Honored Lawyer of Russia Soloviev: from January 1, 2022, catering will be exempted from VAT

Honored Lawyer of Russia Ivan Soloviev in an interview with the agency Prime “recalled that the Russians are expected to reduce a number of taxes from January 1.

According to the lawyer, from January 1, 2022, according to the amendments to the Tax Code, entrepreneurs of the catering sector will be exempted from VAT. He explained that restaurants, catering facilities, including catering facilities, will have the opportunity to improve their financial situation as a result of the tax break.

In addition, for enterprises with 250 people or more, insurance premium rates will be reduced and will amount to: from the part of the remuneration above the minimum wage for pension contributions – 10 percent, for medical – 5 percent, and for sick leave contributions – 0 percent.

Organizations are exempt from the obligation to submit financial statements to other government agencies besides tax inspection at the place of registration.

There are also benefits for the taxation of personal income tax, compensations for the cost of a vacation voucher, the right to receive social and property deductions will remain. At the same time, a new one will be added – a tax deduction for sports and recreation services.

Earlier, the head of the Federal Tax Service Daniil Egorov said that the department plans to abandon the income declaration in the form of 3-NDFL. The declaration of income is standard for individuals. According to the head of the Federal Tax Service, Russians submit about 14 million such documents a year.

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