Vladimir Putin banned refusing tax deductions on formal basis

Galiya Nabieva

UFA, 19 July 2017. /Bashinform News Agency, Galiya Nabieva/. The Russian President Vladimir Putin signed a law, which limits the powers of tax authorities to add taxes and deny taxpayers of deduction on formal grounds. This is reported by RIA Novosti/Prime. The document is published on the official portal of legal information.

At the moment, tax authorities may refuse to refund VAT to a taxpayer on formal grounds, for example, if the document is not correctly delimited by comma.

As it was mentioned earlier, the law proposes to avoid the estimated concepts as much as possible and to fix in the Tax Code an exhaustive list of grounds on which the tax authority has the right to refuse to refund the VAT to a taxpayer or to take expenses to reduce corporate income tax payments.

According to experts, the adoption of the law will make it possible to exclude a possibility of restricting the rights of bona fide taxpayers by the tax authorities, and will also help improve the situation of taxpayers’ disputes consideration in court.

The law enters into force upon expiration of one month from the date of its official publication.

#vladimir putin #law #taxes

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