State Duma warns that all individual entrepreneurs may be liquidated 08:39

By 2029, such a form of doing business as “Individual Entrepreneur” (IP) may disappear in Russia. In an interview about this said Artem Kiryanov, Deputy Chairman of the State Duma Committee on Economic Policy.

According to him, within the established period, the experiment with the introduction of taxes on the self-employed will end, and owners of small businesses and microbusinesses will have to choose a different form of taxation.

The MP expressed the view that what is now called an individual entrepreneur is an outdated way of taxation and doing business that was valid 30 years ago.

Kiryanov also explained that if self-employed people see their income increasing, their activities will become more profitable, in which case they can become directors or founders of a legal entity.

Tax rates for the self-employed are currently 4% for individuals and 6% for legal entities and individual entrepreneurs. PJSC, JSC, LLC and others must give 20% of their income to the state.

Formerly Federal Tax Service in the name Number of self-employed citizens in Russia.

Source: Gazeta


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