Russia: Federal Tax Service Could Freeze Businesses’ Accounts for Late Premium Payments

31 August 2018 (09:39)

UrBC, Moscow, August 31, 2018. Russia’s Federal Tax Service is now allowed to freeze sole traders’ and companies’ bank accounts if they fail to make their insurance premium payments on time; the amendments to Russia’s Tax Code come into effect on August 30, 2018.

‘No account-freezing sanctions will get imposed on any private individual who is not a sole trader and is under no obligation to pay the insurance premiums. No amendments have been made to the Tax Code in this respect,’ Federal Tax Service told RIA Novosti. It was pointed out once again that the fiscal authorities got granted no extra powers whatsoever as far as private individuals’ bank accounts are concerned.

The country’s tax system workers already have the legal mechanisms to have an employer company’s bank account frozen if said employers fail to submit their income tax forms on time.

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