On August 2, the Federal Law entered into force, which amends parts 1 and 2 of the Tax Code and certain legislative acts of the Russian Federation.
The deadlines for the payment of income tax for cultural organizations (libraries, archives, museums, etc.) have been postponed. They will have to pay income tax for the periods 2020 and 2021 no later than March 28, 2022. Also, these organizations are exempt from paying advance payments for income tax for 2020-2021.
Individuals who are not tax residents of the Russian Federation will no longer pay income tax on income from government securities, constituent entities of the Russian Federation and municipal securities.
Regions have the right to establish a reduced rate of tax on profits from intellectual property. The reduced tax rate will be applied provided that the separate accounting of income and expenses within the framework of this activity in the territory of the constituent entity of the Russian Federation and income and expenses in the course of other activities is maintained.
