It is better not to be late with filing your tax return
NDFL is a tax that is calculated from the income of individuals and amounts to 13 percent. It is deducted from each employee's salary and is an income tax. But this type of tax applies not only to an individual's salary.
For example, a person wins money in a lottery, casino, or valuable prizes whose amount exceeds four thousand rubles, or receives interest income on bank deposits in an amount exceeding the refinancing rate by five points. The amount saved on interest when receiving borrowed or credit funds and income received from equity participation in the activities of any company, called dividends. The tax rate in some of the listed cases is significantly higher and reaches 30 percent of the total amount of income or prize.
This is a very large figure, so every taxpayer strives to hide their financial receipts, or resorts to using tax deductions or other tax schemes that can reduce the tax rate to a minimum.
A certificate or tax return may not be required for all sales of property by a Russian citizen. Thus, after changes in 2009, you may not fill out and submit a 3-NDFL declaration when selling real estate and cars that have been in your ownership for more than three years. Filing a declaration in 2012 (for income received in 2011) also has its own peculiarities, so if you have difficulty filling out these certificates, you can contact legal companies that, on favorable terms, will help you understand the intricacies of tax legislation.
There are also advance payments paid by entrepreneurs who have registered as individual entrepreneurs (IE), notaries, lawyers, and other legal entities engaged in private practice under the single tax on income from their activities. Payment occurs in the first half of the reporting period, as well as in the third and fourth quarters of the current year. The tax authority calculates the advance amount and notifies the payer in writing; the remainder is calculated independently and transferred to the budget taking into account the advance amounts.
Income that is exempt from this taxation:
• Pensions
• Alimony
• Scholarships
• State benefits
• Grants and prizes
• Payment for education
• Maternity capital
• Donor rewards and amounts paid for other assistance provided.
You can find the full list in the document on tax collections. Information about such income is submitted annually before April 1 by the person carrying out this operation (the accounting department); independent submission of information occurs before the end of this month. If documents for a tax deduction are submitted to the tax authority, this can be done at any time during the year.
Remember that it is not recommended to be late with submitting tax information, as fines and penalties may be imposed for lateness.
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