22.12.08

A new taxation system for internet companies has been suggested in a new draft bill for regulating the internet. According to the bill, VAT, profit tax and property tax are to be replaced by a so-called "single tax."

The draft was prepared after a request by “United Russia”. It suggests a separate chapter be added to Tax Code of the RF on the taxation of internet companies. It includes provisions for a single tax on imputed property and on profit received from electronic sales, supplementing the tax system with a new special tax regime.

Authors of the draft concept believe that internet companies need a regime of simplified accounting of taxable assets and financial reporting for a period of several years. At the first stage it will be a single tax that will replace VAT, profit tax and property tax – with progressive tax rate.

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Source: “Финанс”