Rus News Journal

The VAT by instalments

will support liquidity of the companies

the Bill of VAT payment by instalments for three months can be considered in the accelerated order: deputies have suggested to discuss the document at once in three readings - it was declared yesterday by the chairman of budgetary committee of the State Duma Yury Vasilev. Experts say that the accelerated procedure of acceptance of the document will allow to support operatively liquidity of the companies in crisis, having left more money at their order.

Yury Vasilev has informed that the budgetary committee of the State Duma recommends to the lower chamber of parliament to approve the bill at once in three readings. such efficiency is dictated by that it can prevent in any measure financial problems at banks and the companies which could arise after single payment of the VAT in October - has explained g - n Vasilev.

It is a question of the bill two weeks ago submitted for consideration of the State Duma. The document will allow the companies since October, 1st, 2008 to pay the VAT by instalments for three months: not single payment for the third quarter till October, 20th, and monthly tranches. That is the tax will be paid by the month, and to report on its payment the company will continue quarterly. As the prime minister - minister Vladimir Putin has declared two weeks ago, this measure of support of the Russian enterprises in crisis will allow to make payment of the tax for the third quarter not so painful. also will serve as a measure on strengthening of a financial system and support of the enterprises - Yury Vasilev adds.

the Companies have started to transfer into the VAT the budget of times in a quarter more recently. The decision on transition with monthly on a quarterly order of payment of the VAT was accepted in the summer of 2006. Corresponding amendments to the Tax code have come into force since January, 1st, 2008. This measure has considerably reduced quantity of paper work of the bookkeepers connected with preparation of tax declarations, also she has allowed the companies to distract less often monetary resources from a turn for tax payment. But once a quarter it was necessary to transfer into already quarter sum of the tax the budget.

but that was convenient at a stable economic situation, has appeared not absolutely convenient at the moment. Payment of 18 % of the VAT at once for three months when many companies experience financial difficulties, - action rather painful. Business also that at payment of the tax from realisation of the goods, works or organisation services own means as the tax is paid on a charge method are compelled to take from a turn. in other words, the tax is transferred into the budget till the moment of actual reception of money from the counterpart - has explained the head of a direction on support of the international investment projects of the company Bejker Tilli Rusaudit Ekaterina Narinjan.

Transition to monthly payment of the tax will provide more uniform derivation of circulating assets of the companies, experts believe. but it would be desirable, that legislators nevertheless have left to the organisations the right to pay in the VAT in the full sum unitary after the termination of quarter, - has told the leading adviser of the company Financial examination Elena Kornetova. Is it would be convenient to the companies at which tax obligations under the VAT are not so burdensome .