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Why should companies with foreign participation join the register of SMEs?

What is the registry of SMEs?

The unified register of Small and Medium—Sized Entities (hereinafter — SMEs) is a publicly accessible database of organizations maintained by the Federal Tax Service of Russia.

Link to the registry of SME: https://ofd.nalog.ru/?ysclid=l50strg3pd374437750

Companies with foreign participation are not automatically included in this register during the annual update. For such companies, audit organizations are authorized to submit information to the Federal Tax Service in order to include them in the register of SMEs if they meet certain criteria.

Why should companies with foreign participation join the register of SMEs?

Reduction of taxes (contributions) on wages from 30% to 15%

Example:

The company has 3 employees with a salary of 100 000 RUB each.

The amount of taxes (contributions) from wages in the amount of 300 000 RUB for one month of 2022 will be:

  • Before joining the register of SMEs — 90 000 RUB (30% rate)
  • After joining the register of SMEs — 51 251 RUB (the rate is slightly above 15%)

The savings for one calendar month is 38 749 RUB.

For a calendar year, the savings will amount to 464 988 RUB.

If the number of employees and the wage fund in the company is greater than in the example, then the savings will be even greater.

A more expanded list of subsidies from the budget of Russia for reimbursement of expenses and grants

The full list of grants and subsidies provided for compensation of expenses for companies registered in Moscow can be studied on the website of the Department of Entrepreneurship and Innovative Development of Moscow https://mbm.mos.ru/article/dengi/subsidii?page=1

In our opinion, the most popular from the list are subsidies for employee training and subsidies for promotion in Yandex services.

Significant reliefs include::

  • Exemption from scheduled inspections in 2022
  • Obtaining a loan at a preferential rate
  • Replacement of an administrative fine with a warning

What is the average cost of services for inclusion in the register of SMEs?

Average cost of audit companies’ services is 50 000 — 60 000 RUB.

What are the criteria for recognizing a company with foreign participation of SMEs?

Criteria for a Russian company:

  • Created before December 1st of the year preceding the current calendar year
  • Income for the previous calendar year — no more than 2 billion RUB
  • Average number of employees — no more than 250 people for the previous calendar year
  • The share of a foreign offshore participant is no more than 49%

Criteria for a foreign participant:

  • Income for the previous calendar year — no more than 2 billion RUB
  • Average number of employees — no more than 250 people for the previous calendar year

What are the difficulties of joining the registry of SMEs?

  • For the purposes of joining the register of SMEs, the company must have a tax return of a foreign participant for the previous year submitted to the tax authorities. In different countries, the deadline for submitting a tax return is different and there are situations when a company can already formally be included in the register of SMEs, since the criteria are met, but there is no receipt for filing a declaration.
  • There are also situations when the income tax declaration indicates only the tax base, which is subsequently multiplied by the tax rate, and not the taxable income itself. In such situations, the audit company additionally requests accounting (financial) statements for the previous reporting year.
  • Information must be submitted to the register of SMEs annually.

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