The main income received by state bodies from legal entities is the corporate income tax. In this case, the state is interested in creating favorable conditions for the development of enterprises and increasing their profits and obtaining a higher rate of income in the future.
The main tax payers are legal entities that carry out their activities with the aim of obtaining a commercial effect, that is, profit. And budget organizations are no exception.
The object of taxation is understood to mean the amount of cash received by enterprises or organizations from all types of activities: operating, non-operating and financial.
Profit is the difference between revenue excluding customs duties and VAT and the cost of carrying out production activities, providing services or performing work. In determining it, income from core business, profits from auxiliary production and dividends on securities and other financial instruments are also taken into account.
Fixed assets that are acquired by an enterprise on the basis of gratuitous receipt are not subject to taxation. Profit tax of budgetary organizations is also levied on the difference in income from the main activity and expenses necessary for its implementation. Only funds with the purpose of charity and social activity are subject to exclusion.
Corporate income tax is charged at a standard rate of 13%. Depending on the direction of activity, the rate may vary, for example, insurance and credit institutions make deductions at a rate of 30%.
Benefits can be enjoyed by enterprises and organizations that have taken a loan to carry out core business or its significant expansion. At a lower interest rate, the costs of social facilities that are owned by the enterprise and are aimed at improving the lives of staff are estimated. These include motels, kindergartens, schools, hospitals, and even specialized homes for the elderly.
If half of the employees are disabled people, then the corporate income tax is also halved. On the one hand, a significant reduction in the amount of deductions attracts a legal entity, and on the other hand, a lot of free cash is required to equip jobs. And the working capacity of disabled people is not too happy with the leadership. However, there is one significant condition: 50% should be spent on the social needs of the staff.
As part of the support program for small and medium-sized businesses, corporate profit tax is not paid by small enterprises of a commercial, agricultural nature, as well as those that produce essential goods. But such a benefit is valid only in the first two years of activity. Religious organizations do not pay income tax at all.
To pay deductions, the head is obliged to submit income tax reporting to the tax authority. Payments must be paid on time, the amount being one third of the quarterly profit. The deadline for payment is the 15th day of each next month. Budget organizations make transfers to budget funds once every three months, that is, quarterly.
Corporate income tax is also levied on non-residents operating in our country. The tax base includes only profits derived from operations in the domestic market.