14.07.09

Andrei Makarov, Vice Chairman of the Duma’s Budget and Tax Committee, confirmed that the State Duma recently began consideration a new law that will release those who pay the single tax on imputed income from using controlled cash technology. However they must provide documentation confirming all cash sales. If the taxpayer fails to provide the documentation, they will face fines. For individuals the fine could range anywhere from one and a half to two thousand rubles. Officials will see fines from three to four thousand rubles. And legal enterprises will face thirty to forty thousand ruble fines.

Translated by Alinga Consulting Group.

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