News about business, accounting and taxes in Russia

Tax regulation alert: change of the deadline for corporate property tax in 2024

Starting from January 1, 2024 the changes regarding the deadlines for submitting declarations for corporate property tax will be implemented.

Taxpayers will be required to submit their calculations one month earlier than the current deadline. Under the updated rules, companies must file these declarations no later than February 25. If this date falls on a weekend or holiday, the deadline is shifted to the first following working day. These amendments mean that companies must submit the declaration for property tax for the year 2023 no later than February 26, 2024. If a company fails to comply with the deadline for submitting the declaration, a penalty is imposed, amounting to 5% of the unpaid tax for each full or partial month of delay related to that particular declaration.

LowLands support for Tax Reporting & Compliance in Russia

LowLands Accounting Services experienced specialists ensure tax compliance, help avoiding legal risks and penalties and provide professional advice on local tax legislation. Contact us to learn more about our support on Tax Reporting and Compliance in Russia.