The Cabinet of Ministers has approved a legislative initiative to expand the scope of the simplified taxation system.

The amendments are expected to be introduced to the Tax Code, which will allow for the creation of the most favorable economic and financial conditions for small and medium-sized businesses.

The bill provides for the introduction of transitional tax regime for taxpayers whose income during the reporting period exceeded 150 million rubles, but not more than 50 million rubles, and the average number of employees exceeds 100 people, but not more than 30 people.

Such taxpayer will be able to continue using the simplified taxation system. However, at the same time for all excesses there will be introduced higher tax rates - with the object of taxation "income" - 8% instead of 6%, and with the object of taxation "income minus expenses" - 20% instead of 15%.

The tax will be calculated at increased rates if income and (or) the average number of employees exceeds these limits, and only with regard to income that was received from the quarter in which the excess was admitted. If there are no violations in the next tax period, the general tax rates of 6% and 15% will be applied again.

You will recall that at the end of last month, President Vladimir Putin launched an initiative to increase personal income tax (PIT) for those who earn more than 5 million rubles a year. The tax will be raised from 13% to 15% from January 1 next year.

Earlier, the media drew attention to the appeal to 83 million. Among the initiators of the letter were American actor Steven Seagal, who has Russian citizenship, and Abigail Disney, granddaughter of cartoonist Walt Disney. In the address, they called on the governments of several states to "take responsibility for collecting taxes and distributing them fairly."

Later, Russian presidential spokesman Dmitry Peskov said that the country is already working on the idea of raising taxes on the wealthy.

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Author: Ksenia Gustova