The law passed by the Russian Parliament enlarges the scope and the circle of taxpayers that can have access to the tax monitoring system. The amendments significantly soften the conditions for the transition to tax monitoring (applicable thresholds are decreased by 3 times, including annual turnover and cost of assets from 3 billion rubles to 1 billion rubles and the amount of paid taxes from 300 million rubles to 100 million rubles).
At the request of taxpayers planning to switch to tax monitoring, the deadline for submitting an application will be postponed from July 01 to September 01. This will give the business more time to prepare the transition.
The taxpayers subject to tax monitoring will benefit from a simplified procedure for VAT and excise refund from the budget.
To develop the technology of extended information interaction during tax monitoring, starting from 2024, it is planned that the information systems of tax authorities and taxpayers will be fully integrated.
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NAZALI TAX & LEGAL |