The economist called the reasons for the extra expenses of Russians on taxes

Ignorance of the available deductions forces citizens to pay more taxes than they could if they used the benefits. About this “Tape.ru” told the Professor of the Financial University under the government of the Russian Federation Sergey Tolkachev.

The economist recalled social deductions for treatment, training and charity, property deductions when buying housing, as well as investment deductions. Subject to the established conditions, they allow to reduce the taxable base or return a part of the previously paid personal income tax.

Another reason for the extra costs Tolkachev called errors in the declarations. Incorrect amounts, income codes, or expenditure information can overstate tax. Mistakes in the opposite direction can lead to underpayment and, if there are grounds, fines. Penalties are charged for late payment.

The expert advised entrepreneurs to clearly distinguish between personal income and expenses with revenues and expenses from the activities of the individual entrepreneur. Mixing these transactions increases the risk of reporting errors and miscalculation of taxes.

Additional difficulties, according to Tolkachev, arise when the law changes are misinterpreted. In particular, questions may arise when selling property or receiving income from foreign sources.

The economist recommended checking information about deductions on the website of the Federal Tax Service and regularly reviewing the personal account of the taxpayer, where accruals and notifications are available. Electronic services, according to him, help reduce the number of errors in filling out documents. In difficult cases, he advised to contact tax advisers and make payments without delay.

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