Profit Tax Letter of the RF Tax Ministry No. VG-6-02/1 of January 3, 2002, explains the procedure governing the calculation and making of advance profit tax payments due to the budget as concerns advance payments related to the profit tax in the first quarter of 2002 and transition to cash basis accounting method in 2002.
Taxpayers making monthly advance profit tax payments shall calculate the amount of monthly advance payments due in the first quarter of 2002 proceeding from one third of the amount of the tax due to the budget in the third quarter of 2001.
The amount of tax due to the budget in the third quarter of 2001 shall be determined basing on the Calculations (tax declarations) of the tax from profit results for nine months and first six months of 2001 (Supplement No. 9 to Instruction of the RF Tax Ministry No. 62 of June 15, 2000, “On the procedure governing the calculation and payment to the budget of the tax on profits of enterprises and organizations”).
Calculation of the tax proceeding from the profit results in the first quarter, first six months, nine months, and 2002, shall be carried out in accordance with the Tax declaration as approved by Order of the RF Tax Ministry No. BG-3-02/542 of December 7, 2001 (registered with the RF Ministry of Justice, registration No. 3084 of December 17, 2001).
Not all organizations shall employ this procedure. The procedure shall not be applicable to organizations, which completed the transition to the calculation of monthly advance payments proceeding from their profit results, organizations financed from the budget, foreign RUSSIAN ECONOMY in trends and outlooks organizations operating in the Russian Federation via their permanent agencies, not for profit organizations, organizations whose proceeds from sales were on the average below Rub. million in each quarter over the preceding four quarters, etc.
As concerns the possibility to apply the cash basis method, according to item 1 of Article 273 of the RF Tax Code, organizations shall have the right to apply this method in the case the amount of proceeds from sales of goods (works, services) of such organizations (without taking into account VAT and sales tax) were on the average below Rub. 1 million in each quarter over the preceding four quarters.
Letter of the RF Tax Ministry No. VB-6-21/87 of January 25, 2002, explains the procedure governing the payment to the budget of advance payments related to the tax on the mining of minerals in the first quarter of 2002. The tax on the mining of minerals (hereinafter referred to as the tax) and respective advance payments shall be paid by an organization (individual entrepreneur) in the subject of the Russian Federation, where mining operations are conducted. In the first quarter of 2002, advance tax payments shall be calculated as one third of the amount of payments for the use of mineral wealth and fees assigned for reproduction of the mineral and raw materials resources charged in the fourth quarter of 2001 and indicated in the Calculations of payments for the right to use mineral wealth and the Calculations of fees assigned for reproduction of the mineral and raw materials resources submitted to the tax agency responsible for the territory where mineral resources were used.
As concerns oil and gas condensate from oil and gas condensate deposits, advance tax payments shall be calculated as one third of the amount of such payments, as well as the amount excise charged in the fourth quarter of 2001 (as a share proportional to the volume of oil and gas condensate from oil and gas condensate deposits in the territory under the jurisdiction of the respective tax authority in the fourth quarter of 2001).
Personal accounts relating to the tax on the mining of natural wealth shall be kept by the tax authority having jurisdiction over the seat (place of residence) of the taxpayerorganization (individual entrepreneur). Tax authorities having jurisdiction over territories where taxpayers are registered as payers of the tax on the mining of mineral wealth shall provide information on the advance payments made by the taxpayer for purposes of its registration on personal accounts of taxpayers.
Directive of the Bank of Russia No. 1103-U of January 28, 2002, abolishes directive of the Bank of Russia No. 810-U of June 29, 2000, “On taking into account the amount of reserves for probable losses relating to loans for tax purposes” formed by crediting organizations in accordance with the requirements set forth by instruction of the Bank of Russia No.
62a of June 30, 1997, “On the procedure governing the formation and utilization of reserves for probable losses relating to loans” and sets forth the definition of loan-related and similar debts for the purposes of enforcement of Article 292 of the RF Tax Code (as concerns credits, including inter-bank credits; bills of exchange discounted by crediting organizations; balances of bank guarantees; operations carried out under agreements of financing against assignment of cash claims (factoring); funds transferred to correspondent accounts of crediting organizations).
Letter of the RF Tax Ministry No. VG-6-02/160 of February 8, 2002, explains the procedure governing the making of advance profit tax payments. The calculations are illustrated with numerical examples. The RF Tax Ministry points out that since the calculation of advance payments is carried out proceeding from the quarterly advance payment for the quarter preceding the quarter in which the payment is made, no grounds for charging of penalties for INSTITUTE FOR THE ECONOMY IN TRNSITION http://www.iet.ru non-prompt monthly advance payments exist as concerns the enactment of Article 25 of the RF Tax Code.
Letter of the RF Tax Ministry No. VG-6-02/203 of February 22, 2002, clarifies the issue of submission of tax reports and terms of payment of the profit tax for year 2001.
The profit tax for year 2001 shall be determined basing on the calculation (tax declaration) of the tax on profit results according to the form set forth in Supplement No. 9 to Instruction of the RF Tax Ministry No. 62 of June 15, 2000 and attached references and calculations.
The calculation shall be submitted and the charged amount of the tax shall be made according to the procedure and in time stipulated by Article 8 of law of the Russian Federation No. 2116-1 of December 27, 1991, and item 5 of Instruction No. 62.
Order of the RF Tax Ministry No. BG-3-02/98 of February 26, 2002, approves the Methodological recommendations concerning the enforcement of Article 25 of Section 2 of the RF Tax Code “Profit tax on organizations.” Letter of the RF Tax Ministry No. VG-6-02/392a explains the procedure of making monthly advance profit tax payments due on April 15, 2002. According to Article 286 of the RF Tax Code, taxpayers shall make monthly advance payments over the reporting period (quarter). The monthly advance payments shall be made in equal installments (one third of the quarter advance payments charged in the quarter preceding the quarter, in which the monthly advance payments is made).
Since no declarations confirming the amount of the quarterly advance payments for the first quarter of 2002 will be submitted to tax authorities, taxpayers shall make advance payments (due on April 15) proceeding from the operative data of taxpayers on their revenues and expenditures in the first quarter of 2002.
Letters of the RF Tax Ministry No. VG-6-02/401 and the RF Finance Ministry No. 01MM-17 of April 2, 2002, explain the procedure governing the determination of the profit tax base and calculation methods pertaining to the tax in relation to amendments to Article 10 of federal law No. 110 FZ of August 6, 2001 (Article 10 concerns profits generated in relation to the transition to the accrual basis accounting method since January 1, 2002, the amount of tax charged in relation to this tax base shall be payable since the second reporting period of 2002).
In 2002, taxpayers shall pay the tax on these profits not later than 30 days after the end of the first half-year. The payments shall be made in equal installments in time set forth for the payment of respective quarter advance payments, i.e. not later than in 30 days after the closing date of the respective reporting period and not later than on March 31, 2003.
The taxpayers who completed the transition to monthly advance payments shall pay the tax on these profits in equal installments in time set forth for the payment of monthly advance payments relating to profit results starting the term of advance payments for the first six months of 2002, i.e. not later than on the 30th of each month following the preceding month.
For these taxpayers, January 30, 2003, shall be the last valid date of the payment.
Single Social Tax Letter of the RF Tax Ministry No. SA-6-05/415 of April 4, 2002, explains certain issues relating to the payment of the single social tax.
RUSSIAN ECONOMY in trends and outlooks For instance, it has been explained that payments and remuneration (notwithstanding of the form) shall not be objects of taxation in the case taxpayers-organizations do not include such payments in expenditures diminishing the organizations’ profit tax base in the current (tax) period.
Therefore, payments and remuneration in the form of full or partial redemption of goods (works, services, property or other rights) for individuals (employees or members of employees’ families) including payments for public utilities, food, recreation, education, and voluntary forms of insurance shall be excluded from the tax base for purposes of calculation of the single social tax in the case the taxpayers-organizations do not include such payments in expenditures diminishing the organizations’ profit tax base in the current (tax) period.
Letter of the RF Tax Ministry No. ShS-6-14/1201 of August 7, 2002, explains that it is necessary to act according to judicial practice deciding if payers of the social tax shall be hold liable for respective tax offenses.
According to the Tax Ministry, taxpayers may be hold liable for such tax offenses as non-submission of estimates of advance single social tax payments as defined in Article 119, in the case taxpayers fail to comply with the terms of submission of estimates (since the calculation of employers’ advance payments is based on real financial results of taxpayers’ operations). At the same time, in the case there is formed judicial practice indicating unjustified enforcement of Article 119 of the RF Tax Code, taxpayers may be hold liable according to Article 126 of the RF Tax Code for failure to submit documents and (or) other information as stipulated by the RF Tax Code. The article sets forth a penalty at Rub. 50 per each not submitted document.
It is justified to hold taxpayers liable for failure to pay or non-prompt payment of the single social tax in accordance with the results of reporting periods as stipulated by Article 122 of the RF Tax Code.
Excises Telephone message of the RF Tax Ministry No. BK-6-07/18 of January 10, 2002, explains that until a new Resolution of the RF Government on the procedure and terms of issuance of permits to establish excise warehouses and the procedure of granting of regional special stamps by the subjects of the Russian Federation, it shall be acted in accordance to the requirements set forth in Resolutions of the RF Government No. 1026 of December 30, and No. 1023 of December 30, 2000.
Letter of the RF Tax Ministry No. BK-6-07/244 of February 27, 2002, explains the procedure governing the operation of excise warehouses. According to Article 197 of the RF Tax Code, storage of alcohol products before shipment (delivery) to other buyers in locations other than excise warehouses and vehicles transporting such products in conformity with the transportation regime shall be prohibited.
Delivery (transfer) of alcohol products from excise warehouses of organizations to their structural units not granted the excise warehouse status shall not be carried out since it is not stipulated by the RF Tax Code.
Order of the RF Tax Ministry No. BG-3-03/478 of September 4, 2002, (registered with the RF Ministry of Justice, registration No. 3805 of September 17, 2002) is issued to enforce federal law No. 110 FZ of July 24, 2002, “On amendments to the second part of the Tax Code of the Russian Federation and certain other legislative acts of the Russian Federation,” ap INSTITUTE FOR THE ECONOMY IN TRNSITION http://www.iet.ru proves the Regulations governing issue of certificates for registration of persons engaged in operations related to oil products worked out in accordance with provisions of Article 22 of the RF Tax Code.
The regulations set forth the procedure governing the issuance of certificates for registration of persons engaged in operations related to oil products and shall be extended to organizations and individual entrepreneurs carrying out operations related to production, wholesale, wholesale and retail, and retail sale of oil products.
Certificates shall be documents justifying excise exemptions in order set forth by Article 22 of the RF Tax Code.
Separate certificates termed for 1 year shall be issued for each type of activities, including the following operations:
Production of oil products;
Wholesale trade with oil products;
Wholesale and retail trade with oil products;
Retail trade with oil products.
Decisions on granting, refusal to grant, suspension, renewal, annulment of certificates for registration of persons engaged in operations related to oil products shall be vested with the heads (deputy heads) of the Tax Ministry territorial offices in the RF subjects and the Interregional Inspection of the RF Tax Ministry for largest taxpayers No. 1.
The same order approves the list and forms of documents required to issue certificates.
Tax on the mining of minerals Order of the RF Tax Ministry No. BG-3-21/220 of April 22, 2002, (registered with the RF Ministry of Justice, registration No. 3398 of April 23, 2001, tax agencies informed by letter of the RF Tax Ministry No. NA-6-21/528 of April 23, 2002) approves the forms of calculation of regular payments for the use of mineral wealth and the Procedures governing the completion thereof. Regular payments shall be made in accordance with Section V of the law of the Russian Federation No. 2395-1 of February 21, 1992, “On Mineral Wealth” and Resolution of the RF Government No. 926 of December 29, 2001.
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