The Government has approved draft laws on the unified reporting for the single social contribution and the personal income tax.
What’s it about?
To make it easier for business, the Ministry of Finance has prepared draft laws for the unification of the reporting for the single social contribution and the personal income tax.
What are the benefits?
- simplified regulations for business;
- simplified administration of the single social contribution and the personal income tax;
- reduced volume of the paperwork;
- increased effectiveness of the controlling authorities.
Reporting on the single social contribution:
• for private entrepreneurs and persons pursuing individual professional activity, it is stipulated that the data about the calculation and payments of the single social contribution for the revenues from the business activity of individual professional activity shall be presented as part of the annual income and property declaration (tax declaration);
• for private persons who are payers of the single tax, it is stipulated that the data regarding the single social contribution shall be filed as part of the tax declaration.