Business Getting Ready for Tax Changes

According to Nezavisimaya Gazeta, tax changes for business will come into force from 2025. The amendments will affect the income tax and the simplified tax system. Also in 2025, a new tax will be introduced; at the same time, certain exemptions will be offered.  The purpose of these amendments is fairer allocation of the tax burden.

“The state has proposed quite harmonious changes to the tax system. In view of the increased tax burden, a new investment tax deduction is introduced. At the same time, the introduction of VAT under the simplified taxation system will only affect a small number of taxpayers,” explained Alexei Nesterenko, Managing Partner at FBK Legal.

Within the six months, business should assess the relevant impact, as well as get ready for and improve efficiency of the tax approach in this new environment. Consulting companies and banks advising businesses on all innovations will help business adjust.

“Any significant adjustments in legislation boost demand for educational seminars where business representatives can ask experts about the key features of the innovations, as well as get tips on how to get ready for changes. Sberbank is currently launching an extensive educational programme on corporate tax. I believe it will be extremely useful for CFOs, tax managers and accountants at any company, regardless of the industry,” Alexei Nesterenko added.

Lioudmila Katulevskaya, Head of Tax at Sberbank, elaborated on the project: “In September, we are launching an educational programme on corporate tax, where we will share best practices, discuss the most relevant trends and tools in taxation, and help companies bring their tax approach to a whole new level.”

The programme launches this autumn and will feature lectures, webinars, discussions, and round tables. As part of the training, lecturers will share the strategic tax leadership techniques to develop and strengthen the tax approach in a company.