Business will be able to pay all taxes by a single payment

The Government has taken the initiative to provide the companies and sole proprietors with the possibility to pay all the relevant taxes by a single tax payment. The corresponding draft law on amendments to the tax legislation has been considered at a meeting of the Government of the Russian Federation.

A single tax payment implies a one-time payment of the following:

• taxes;
• fees;
• insurance contributions.

Meanwhile, the taxpayer will not be required to specify the type of payment, the payment period, or whether it belongs to the relevant budget. In turn, the tax service will independently perform all actions related to the transfer of funds related to the entity’s fulfillment of tax obligations.

Should the legislative act be adopted, the above innovations will become effective since January 1, 2022.