Media & Resources
Ministry of Finance proposed to increase the rate of interest on tax arrears.
DATE: August 11, 2016 | AUTHOR: atlawyers
The Ministry of Finance has published a consultation request of new Bill aimed to amend the rate of statutory interest accrued on tax arrears. Currently, according to paragraph 4 of section 75 of the Russian Tax Code, the rate of interest is 1/300 of the refinancing rate set by the Bank of Russia, per day. The rate of interest proposed by the Bill has not yet been released. The Bill has not tabled to State Duma yet.