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What mode of taxation, the tax burden is minimal

Question - answer - Legal advice 16.09.2019 at 12:01

Question - answer - Legal advice

The Tax office on its official website in the section "Tax Analytics" has published the data of calculations for the minimum tax burden for different taxation regimes. Thus, in particular, the tax burden of small businesses applying the simplified taxation system is two times lower than those on the General tax regime. For the calculation of indicators was constructed financial model of the organization and taken into account three taxes – income tax, VAT and simplified tax system. Thus, as explained by the tax authorities, to simplify the calculations, it was determined that this model the firm is not engaged in foreign trade activities and does not have loans or assets in foreign currency. On the following indicators: income – 100%; cost of goods sold with VAT at the rate of 20% – 120%; profit amounted to 11% and income tax at the rate of 20% for 2.2%. It was defined as the ratio of profit from sales to cost of products sold. According to Rosstat, the index of the average values of profitability of goods sold for the year 2018 at 12.3%.