Recognition of interest under a loan agreement

 Recognition of interest under a loan agreement

Recognition of interest under a loan agreement between a specialized developer and an authorized bank for shared construction is carried out in accordance with the new procedure: income and expenses are recorded not monthly, as it was before, but as of the date of interest payment specified in such agreement (Federal Law No. 325 of September 29, 2019 -FZ).

Losses

You can keep silent about the temporary restriction on the transfer of losses, but we will warn you: it was extended until December 31, 2021 (Federal Law No. 325-FZ of September 29, 2019). Recall that in the Accountants Walsall (tax) periods from January 1, 2017, to December 31, 2020, the tax base for income tax for the current reporting (tax) period, calculated in accordance with Art. 274 of the Tax Code of the Russian Federation (with some exceptions reflected in clause 2.1 of Article 283 of the Tax Code of the Russian Federation) cannot be reduced due to losses incurred in previous tax periods in an amount exceeding 50%. Federal Law No. 325-FZ of September 29, 2019, also changed the cases when the transfer of loss is unacceptable. Thus, the assignee is not entitled to recognize the loss of the reorganized entity if the main purpose of the reorganization is to understate the tax base of the assignee by the amount of the loss incurred by the reorganized entity.

Equity income

The concept of income from equity participation in other companies in the form of dividends, recognized as non-operating, has undergone changes - it has been expanded. Now these include, for example, those that are paid by a foreign organization in favor of a Russian company that is a shareholder (participant) of this foreign organization, as a result of the distribution of profits remaining after taxes, and are not subject to the procedure for its taxation in a foreign state (Federal Law of 29.09.2019 No. 325-FZ).

Resort fee

When calculating income tax, resort tax is not taken into account (Federal Law No. 325-FZ of 29.09.2019).

Zero rate

For organizations with the status of a regional operator for the management of solid municipal waste, from 2020 there is a benefit in the form of a zero rate (Federal Law No. 211-FZ of July 26, 2019). If the authorities of the constituent entities have introduced such a benefit, then nothing will have to be paid to the federal budget, since the tax rate is also equated to zero.

Tax agents

Tax on income received by a foreign company from sources in the Russian Federation is calculated and is subject to withholding by a Russian or foreign company operating through a permanent establishment in Russia. This procedure applies in each case of payment of income in accordance with paragraph 1 of Art. 309 of the Tax Code of the Russian Federation (exceptional cases are established by clause 2 of article 310 of the Tax Code of the Russian Federation). Since 2020, individual entrepreneurs who pay income to foreign legal entities have also been classified as tax agents (Federal Law No. 325-FZ of September 29, 2019).