> Daily news > Russia: Federal Tax Service Could Freeze Businesses Accounts for Late Premium Payments

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


31.08.2018. : public
UrBC, Moscow, August 31, 2018. Russias 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 Russias 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 countrys tax system workers already have the legal mechanisms to have an employer companys bank account frozen if said employers fail to submit their income tax forms on time.