EXPORTERS WILL NOT BE ABLE TO BE TAXED FOR THE RECEIVED NON-REFUNDABLE MEASURES OF STATE SUPPORT

EXPORTERS WILL NOT BE ABLE TO BE TAXED FOR THE RECEIVED NON-REFUNDABLE MEASURES OF STATE SUPPORT
17 June 2021
The State Duma of Russia adopted in the third reading amendments to the Tax Code, which exempt from taxation state support measures for exporters.

"Exempted from taxation of personal income tax and VAT and income tax are the measures of support of business entities presented on a gratuitous basis. Because it turns out that with one hand we give a subsidy, and with the other hand we try to take taxes from it," commented the head of the Committee on Budget and Taxes Andrei Makarov earlier.

"We regularly received reports both from regional export support centers and from business associations and exporters directly that they received free support and then these measures were recognized as non-operating income and taken into account when forming the income tax base," says Veronika Nikishina, general director of the Russian Export Center. - The REC has been raising this issue for several years, and with the support of the Ministry of Finance, the Ministry of Economy, and the State Duma Committee on Budgets and Taxes, this important issue was resolved. This readjustment of regulation in favor of business is a big step in the right direction.

Thus, amendments were made to Articles 217 and 251 of the Russian Tax Code, under which the income from gratuitous services provided by the Russian Export Center, Regional Export Support Centers, included in the REC Group unified export promotion system, as well as the MICEX Corporation, will not be included in the tax base for corporate profit tax calculation and for individual entrepreneurs - for calculation of personal income tax. The adopted amendments will be effective retrospectively from January 1, 2019. The law adopted in the third reading will be sent for consideration to the Federation Council and then sent for signature to the President of the Russian Federation.
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17 June 2021
Regional News

The State Duma of Russia adopted in the third reading amendments to the Tax Code, which exempt from taxation state measures to support exporters.