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Taxes For Small Businesses Are Being Discussed
August 14, 2014 23:49


Small businesses using special tax regimes should be given an annual deferral in the payment of sales tax, according to the Finance Ministry. However, it is still unknown if other companies will have such duty since 2015 or not, the government is debating the feasibility of a tax introduction.

The idea raises concern of entrepreneurs who warn about the risks of rising prices, decline of living standards and appearance of more illegal businesses. Obviously, the winning argument in the issue of the tax introduction is: if “the war of sanctions” will lead to a marked increase in food prices or not. The Finance Ministry proposes to give small businesses a deferral in the payment of sales tax. Appropriate amendments to the Tax Code are placed by the Ministry on the portal of legal information disclosure, as “RIA Novosti” reports.

The exemption will be available to individual entrepreneurs working on patents and the companies using special tax regimes: single agricultural tax, simplified taxation system, single tax on imputed income. All they will have to pay sales tax from 2016. All other organizations using common system of taxation will have to fulfill this duty a year earlier. The return of Russian sales tax is now being discussed by the government.

This idea has no understanding from businesses. Businessmen say that in the conditions of slowing growth in trade turnover and population income the administration of the tax may lead to lower standards of living and to decline in the sectors focused on consumers’ demand: production volumes will decrease, prices will rise, business competitiveness will fall, companies will have to go illegal.

Besides, the “income” of the tax will be concentrated in the economically successful regions, and the government will face the necessity to spend money on its administration. Obviously, the opinion of the officials about the arguments of the businessmen will depend primarily on the statistics of food prices. The data of the Federal Service of State Statistics for last week showed that so far “the war of sanctions” did not lead to a noticeable inflation surge, it made up 0.1%.

Author: Anna Dorozhkina

Tags: taxes small business    

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