30.07.08

The new amendments to the tax law largely simplify and clarify existing law to the benefit of small businesses. A method for calculating taxes on dividends for those firms who pay unified agricultural tax has been spelled out.

Simplified taxation also got simpler with a extended list of recognized expenses, optimized procedures for carrying expenses forward, and an end to tax declarations filled by business periods.

Private entrepreneurs who use the simplified tax system on a license basis, may now hire wage workers (a major problem to using the system before) and now have an extended list of types of entrepreneurial activities applicable to the simplified tax system.

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Source: РИА Новости