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Amnesty of private entrepreneurs
16.02.2016
The problem of “shadow economy” is obvious, but the initiative to introduce a tax holiday for private entrepreneurs is unlikely to drag self-employed persons “out of the shadows”.. Nikita Tolkachev, lawyer of tax and customs law practice of YUST Law Firm gave his commentary on the possible amnesty for private illegal entrepreneurs to Regnum information agency.
According to the expert, it is yet unclear what negative legal consequences may arise if self-employed individuals decide to use tax amnesty. Nikita Tolkachev reminds that in Russia business activity without registration or license in cases this license is compulsory leads to administrative or criminal liability. Besides, private entrepreneurs may be held liable for violation of tax legislation for previous tax periods. "The fact of violation will be determined in case of voluntary notifying the tax authority of illegally obtained income. It is possible that, as in the case of warranty capital amnesty, the state is not enough for extensive use of this exemption”, the expert says.
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The problem of “shadow economy” is obvious, but the initiative to introduce a tax holiday for private entrepreneurs is unlikely to drag self-employed persons “out of the shadows”.. Nikita Tolkachev, lawyer of tax and customs law practice of YUST Law Firm gave his commentary on the possible amnesty for private illegal entrepreneurs to Regnum information agency. According to the expert, it is yet unclear what negative legal consequences may arise if self-employed individuals decide to use tax amnesty. Nikita Tolkachev reminds that in Russia business activity without registration or license in cases this license is compulsory leads to administrative or criminal liability. Besides, private entrepreneurs may be held liable for violation of tax legislation for previous tax periods. "The fact of violation will be determined in case of voluntary notifying the tax authority of illegally obtained income. It is possible that, as in the case of warranty capital amnesty, the state is not enough for extensive use of this exemption”, the expert says.
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