Independent business owners can reduce their tax burden substantially this year by selecting the most suitable taxation framework and taking advantage of available incentives. This guidance comes from a respected economist, Stanislav Paulauskas, who serves on the financial market expert council of the State Duma committee, as discussed in an interview with 360 TV.
Entrepreneurs have several taxation options to consider, including the general tax system (GTS), the simplified tax system (USN), the patent system (PSN), professional income tax (NPT), and the unified agricultural tax (USAT). In addition, residents of Moscow, the Moscow region, Kaluga region, and Tatarstan can access the automated simplified tax option (AUSN).
The economist emphasized the importance of utilizing tax deductions for office rent, employee salaries, and training costs. There are also additional incentives, such as potential reductions to the standard rate under the simplified tax system.
As Paulauskas explained, the applicable rate can be as low as 1 percent for income-based taxation and 5 percent for income and expenses-based taxation. To determine the correct rate for a specific region, individuals should check the Federal Tax Service website and select the relevant region.
The economist highlighted tax holidays as a key measure to support entrepreneurs, noting that they can be claimed for two tax periods. This option, however, is available to individual entrepreneurs who have registered for more than two years.
He also pointed out that lowering the tax on insurance contributions is another effective way to save. For example, if a business has no employees, it may reduce its tax rate under the simplified system or the patent system to zero.
There is talk within the Federal Tax Service about changing how taxes are calculated for entrepreneurs, including plans to shift payment responsibility for those working abroad to private platforms.
Earlier, the Ministry of Finance announced plans related to the amount of taxes collected on corporate excess profits.