A penalty is a certain amount of money that is payable by a taxpayer who has not paid off his debts in time. This payment is regulated by the relevant tax legislation (article 75 of the Tax Code).
The penalty interest among other payments
Among such payments as contributions for the pledge of property, suspension of various operations on bank accounts, surety or seizure of property of payers, penalty is the most common way of additional receipts to budgets of various levels. Moreover, it serves as an integral part of arrears and, together with the latter, forms tax debt to the budget. To calculate this payment, you do not need to draw up additional documents, in contrast to the application of collateral or surety.
Fee accrual procedure
A penalty is charged for each calendar day if the payer fails to fulfill his
tax obligations
. The calculation of this payment begins on the next day of the tax payment deadline established in accordance with applicable tax laws.
The interest rate is equal to a certain part of the CBR rate effective on a specific date.
Penalty Formula
The amount of the penalty is equal to the amount of arrears multiplied by the number of days of delay and the approved part of the refinancing rate of the Central Bank of the Russian Federation.
Main functions
When carrying out the calculation according to the specified formula, you can see that the penalty will not reach the tax amount soon (in ten years). Despite such a continuous growth of this payment, in the modern specialized literature you can see the main functions that the penalty performs: it is stimulating and compensatory.
The penalty is payable simultaneously with the amount of other tax payments or after they are paid in full.
However, from the point of view of the payer, penalties for taxes and fees are not only incentive in nature, but also punitive, since such an entity is obligated to transfer additional amounts to the budget in a timely manner.
Reasons for not using a penalty
There are cases when a late fee is not charged to the taxpayer for late payment of obligations. This is, firstly, a situation where the reason for the lack of payment is the suspension of operations by a court decision, or the property of the business entity has been seized for any reason. In this case, this payment is not charged for the entire period of such an arrest. Secondly, if there is no timely payment of tax obligations due to the receipt of specific written explanations on the procedure for calculating and paying taxes and fees, submitted by a financial or tax state body within its competence. Such clarifications are presented directly to the tax payer only in writing. Regardless of the date of formation of this document, it must indicate the specific
tax period in which such non-payment occurred.