The 3d all-Russia congress of accounters and auditors devoted to the problems of implementing the international accounting standards in Russia was held in the Kremlin Palace of Congress. Newspapers "Accounting - Taxes - Law".
Photo: Yury Martyanov
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Finance Ministry Shifts Profit Centers
// Rules of holding taxation might change
Beginning from 2009, the Ministry of Finance is ready to transfer Russian holdings to consolidated tax return. The government’s project “Main directions of tax policy for 2008-2010” shows it is ready to resort to that measure so as to deprive large holdings of the opportunity to transfer profit centers from one region to another as they wish. Yet, experts say that, on the whole, the Ministry’s projects will do good to taxpayers.
The Ministry of Finance prepared “Main directions of tax policy for 2008-2010” within the project of a three-year budget. Beside the plan of struggle against outer off-shores, the document contains the Ministry’s suggestion of introducing consolidated tax return for holdings.
Parent company will be responsible for submitting the tax declaration on behalf of all companies of a holding. Moreover, it will be possible to offset the net losses of one company against the net profits of another in the group.
The only drawback of consolidation for taxpayers is the joint responsibility of a holding’s companies for paying taxes. Experts say that in those countries where consolidated taxation exists, companies have the choice whether they should use the method or not.
Vadim Visloguzov
All the Article in Russian as of Jan. 30, 2007
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