Fines, Taxes, Interest: What Will 2017 Bring Us

Since January 1, 2015, all taxpayers have been required to report to the tax authority about their ownership of real estate or vehicles. Starting January 1, 2017, penalties will be applied to everyone who has not done so, amounting to 20% of the unpaid tax sum – our expert, a lawyer of the National Legal Services, Anatoly Nagiev, reminds.

Anatoly Nagiev, expert, Lawyer of the National Legal Services. 1. The Lazy Pay More

If you have owned property for several years and have never received a tax notice, have not paid taxes, and have not reported to the tax authority about your property by December 31, 2017, once the tax authority receives information on its own, the tax will be calculated for the entire period of ownership (within three years), and an additional 20% will be added to the amount due.

If you purchased an apartment (house, cottage, land plot) or a car in 2016 and have not received a tax notice about the purchased object by November 2017, to avoid penalties you must notify the tax authority about your purchase and await a tax notice by December 31, 2017.

Notification can be submitted to the tax authority in paper form personally or through an authorized representative, sent by registered mail, transmitted electronically via telecommunications channels, or through the informational resource “Personal Account of Taxpayer for Individuals”.

In case of personal appearance at the tax authority, copies of documents should be submitted along with original documents for inspection by the tax authority staff. If sent by mail, copies must be signed by the taxpayer. The notification form can be printed from the FNS website and prepared in advance.