Reduced tax rates extended in Sevastopol
At the plenary session of the Legislative Assembly of Sevastopol, in two readings, a bill was adopted that allows extending the effect of reduced tax rates levied in connection with the application of the simplified taxation system. Thus, the preferential rate on the simplified tax system is preserved: «income — 4%» and «income minus expenses — 10%». The bill to support business was prepared on behalf of the Governor of Sevastopol, Mikhail Razvozhaev.
The proposal is made in accordance with the decision taken in January 2023 at a meeting of the regional headquarters for coordinating the development and implementation of operational measures to maintain economic stability in the city of Sevastopol. The extension for a year of reduced tax rates under the simplified tax system will allow small businesses to allocate funds for the development of activities and the preservation of jobs, as well as create equal conditions for taxpayers applying the simplified tax system in the Republic of Crimea and the city of Sevastopol, — quotes the press service of the Government of Sevastopol and. O. Alexey Plotnikov, Director of the Finance Department.
He stressed that if the object of taxation is income, the rate is reduced from 6% to 4%, if the income is reduced by the amount of expenses — from 15% to 10%.
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