The Federal Tax Service proposes to lower the rate on income for small businesses under the new tax regime to 7-8%, Forbes reports citing a source close to the circle of discussions on the issue.

Another option that is being discussed under the concept of the new tax regime to consider the tax base of small businesses income less expenses of organizations or individual entrepreneurs. In this case, it is proposed to introduce a 20% rate.

As explained by the source, the authorities are currently discussing with the banks, which criteria should be used to determine the nature of the payment coming to the account of the companies, that is, how to determine the revenue and the loan. This is important so that tax officials could independently calculate the tax liabilities of small businesses.

A new tax regime for business in Russia has been under development since July. RBC reported that calculation of tax amounts payable under the new regime will be the responsibility of tax authorities. It is known that under the concept it is proposed to release small and micro-businesses from payment of insurance premiums for themselves and employees, and expenses to consider only non-cash transactions. In addition, the concept obliges businesses to pay salaries to employees only through a bank.

Currently, micro-enterprises and small businesses use the common system of taxation, which provides for a 20% profit tax for legal entities plus VAT and personal income tax of 13% for individual entrepreneurs.

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Author: Karina Kamalova