Nikita Deynega commented for «Pravo.ru» lowering of requirements for entering the Tax Monitoring Program

On the 1^st of July several major amendments to the Russian Tax Code has come into force. One of them is lowering of the requirements for entering the Tax Monitoring Program (a tax control program implemented by the Federal Tax Service of Russia in 2016 which allows for conducting business more easily). Before these changes the procedure was available only for the largest taxpayers. Amendments three times lower requirements for Tax Monitor participants: taxes from 300 million rubles to 100 million rubles, revenues and assets from 3 billion rubles to 1 billion rubles. Amendments also change the period of limitation for the filing the Submission Application from the 1^st of July to the 1^st of September and declare the annual tacit extension of the Tax Monitoring Program until the withdrawal of the Submission Application by the taxpayer.

According to Nikita Deynega, Head of Tax and Administrative Law practice at Maxima Legal, there’s a possibility that someday the Tax Monitoring Program will displace common tax administration procedures. «At least it corresponds with intentions declared by the Federal Tax Service of Russia which is already planning to proceed from controlling tax computation and remission to direct tax computation for taxpayers» – told the expert.

To read the full article (in Russian) please go to Pravo.ru website >>>