What taxes paid by PI on simplified taxation system

If you decide to become an entrepreneur, be prepared that you will have to pay tax deductions not only for themselves but also for their employees. This should be done in time to avoid the imposition on you of a large penalty tax inspectors.

There are fixed fees that you, as an individual entrepreneur, shall be obliged to pay to the funds of the Russian Federation. In this case, no matter what tax regime you're using, you should be able to make payments in the mandatory medical insurance Fund and Pension Fund of Russia. The total amount required to pay off the taxes, you can find on the official website of the pension Fund and FFOMS. Also you are required to make deductions in the pension Fund and FFOMS for your organization.

To calculate the monthly payment to the pension Fund for you and your employees, you need to find 26% of the minimum wage, and then multiply this number by two. To get the size of the monthly payment to FFOMS multiply the minimum wage by 5.1%. The contributions to the social insurance Fund under this scheme of taxation, you are not required to pay.

Simplified tax system ("simplified tax system" or STS) will require you paying additional fees. It was originally introduced in order to reduce the tax burden on small and medium businesses, as well as to simplify accounting and tax accounting. If you are just making your first steps in the world of business, this tax scheme will fit you the most.

As an individual entrepreneur, operating on simplified system, you must pay all tax contributions once a quarter. Thus, in a year you will need to make only four tax transactions. All the taxes you are required to pay not later than the 25th day of the month is considered the reporting (April 25, July 25, October 25). Scheme tax payments for the fourth quarter is a little different, here you must repay the tax debt no later than 30 April of the year following the reporting one.

In that case, if you use the simplified tax system, the tax contribution will amount to 6% of your net income in the first six months of operation and then quarterly you will need to deduct 15% of the profits.

In addition, you are required to pay the tax dues at the excise, customs and state duties. Payment of transport, land tax, water tax and tax on extraction of natural resources, is required. In that case, if you are using features of the living world and water biological resources, you will have to pay an additional tax levy. If you have these tax contributions are relevant, please contact the regional office of the Federal tax service and verify their current value.