Banking law. Taxation of credit organizations with corporate income tax (the most important)

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Banking law. Taxation of credit organizations with corporate income tax (the most important)

Lecture notes, cheat sheets

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57. Imposing corporate income tax on credit organizations

Taxpayers of corporate income tax among others are Russian credit institutions and foreign credit institutions operating in the Russian Federation through permanent representative offices and (or) receiving income from sources in the Russian Federation.

The object of taxation corporate income tax recognizes the profit received by the taxpayer. At the same time, the profit for the purposes of taxation for corporate income tax is recognized as follows:

1) for Russian credit institutions - income received reduced by the amount of expenses incurred;

2) for foreign credit institutions operating in the Russian Federation through permanent representative offices - the income received through these permanent representative offices, reduced by the amount of expenses incurred by these permanent representative offices;

3) for other foreign credit institutions - income received from sources in the Russian Federation.

At the same time, income for the purposes of taxation for corporate income tax includes income from the sale of banking services and property rights (sales income) and non-operating income.

When determining income, the amounts of indirect taxes presented by the taxpayer to the buyer (purchaser) of goods (works, services, property rights) are excluded from them. Income denominated in foreign currency is taken into account together with income denominated in rubles. At the same time, income denominated in foreign currency is recalculated into rubles at the official exchange rate of the Central Bank of the Russian Federation established on the date of recognition of these incomes. The tax base for corporate income tax is the monetary value of profit subject to taxation.

Tax accounting - this is a system for summarizing information for determining the tax base for a tax based on the data of primary documents grouped in accordance with the procedure provided for by the Tax Code of the Russian Federation.

Base rate corporate income tax is set at 24%. At the same time, revenues from taxation of legal entities at this rate are distributed among the budgets in the following proportions: 6,5% of the amount of tax calculated at the tax rate is credited to the federal budget and 17,5% to the budgets of the constituent entities of the Russian Federation.

Corporate income tax is calculated as a percentage of the tax base corresponding to the tax rate. As a general rule, the amount of tax at the end of the tax period is determined by the taxpayer independently. Based on the results of each reporting (tax) period, taxpayers pay monthly advance payments in equal installments in the amount of one third of the quarterly advance payment payable for the quarter preceding the quarter in which monthly advance payments are made. Monthly advance payments on actually received profit are paid no later than the 28th day of the month following the expired month.

Tax returns (tax calculations) based on the results of the tax period are submitted by taxpayers (tax agents) no later than March 28 of the year following the expired tax period.

An organization that has separate subdivisions in its composition, at the end of each reporting and tax period, submits to the tax authorities at the place of its location a tax declaration for the whole organization with distribution by separate subdivisions.

The profit received by the Central Bank of the Russian Federation from the performance of activities related to the performance of its functions under the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)" is taxed at a tax rate of 0%. Other profits of the Central Bank of the Russian Federation are taxed at the base rate of 24%.

Author: Belousov D.S.

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