16.06.09

Alexander Kosolapov, Head of the Finance Ministry’s  Department of Special Tax Regimes and Custom Tariffs Policies, stated that if a company operating under the simplified tax system had no income, and wages and taxes had been paid from borrowed funds, then the company should not have to pay minimum tax this year.

Kosolopov said that “the sum of the minimum tax is calculated for the tax period at a rate of one percent of the tax base (Item 6, Article 346.18 of the Tax Code.) The base, in this case, is profit as determined in accordance with the aforementioned article. If there was no profit, the minimum tax is not charged.”

Translated by Alinga Consulting Group.

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