Overview of tax events for December 2014

The Russian President has signed amendments to the Russian Tax Code (Federal Law No. 382-FZ dated 29 November 2014), according to which Moscow, St Petersburg and Sevastopol may introduce a sales tax from 1 July 2015. The rate of the sales tax will be set by the cities themselves depending on the sales outlet or its area. Taxpayers will be able to deduct the sales tax from the profit tax they pay.

The Russian President has signed Federal Law No. 406-FZ dated 1 December 2014, which freezes, until 2017 inclusive, the rate of insurance contributions to state extra-budgetary funds at the level of 2012-2016. The bulk of taxpayers will, as previously, send 30% of their payroll fund to extra-budgetary funds. The threshold was eliminated for social contributions paid to the Compulsory Medical Insurance Fund.

ria.ru, 2 December 2014

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