The deadline has been extended for profit tax to be paid in advance in March
Pepeliaev Group advises that the Russian Government has extended by a month, until 28 April, the deadline for profit tax to be paid in advance. It was due to expire on 28 March.
The powers to extend the deadlines imposed by tax legislation have been vested in the Government by the first March law on measures of tax support for business.[1]
The Government has now used this opportunity for the first time to extend by one month the deadline which was established by the Russian Tax Code for profit tax to be paid in advance. According to article 286(2)(3) of the Tax Code, the profit tax should have been paid not later than 28 March 2022.[2] Hence, the new deadline for this tax is by 28 April.
We may expect that deadlines for the payment of other taxes will be extended as well.
Moreover, please be reminded that, starting from the reporting period of the first three months, a company may shift to monthly payments based on the actual revenues it has received. To do so, the company should file an application with the tax authority not later than 15 April.[3]
We will keep you posted about all new developments.
[1] Federal Law No. 52-FZ dated 9 March 2022; please refer to our alert at: https://www.pgplaw.ru/analytics-and-brochures/alerts/gosduma-prinyala-pervye-zakony-o-nalogovykh-mer...
[2] The Russian Government's Resolution No. 470 dated 25 March 2022 - http://static.government.ru/media/files/R6VrzCzEId5eSxUM8IdVOxfFeLU6BUf0.pdf