On May 4, People’s Council MPs considered a draft law On Amendments to the DPR Law On Taxation System. According to the press service of the DPR People’s Council, the draft law was elaborated by People’s Council MP and Chairman of the Committee for Budget, Finance and Economic Policy Marina Zheynova.
“Taxpayers who fall under the system of taxation for crop farmers are granted the right to choose the system of taxation and costing for seeds, plant protection products, fertilizers that had been purchased earlier, in the period of agricultural tax payment.
In addition, it is proposed to combine the first and second groups of fixed agricultural tax, which will allow farms to have wage laborers, as well as to exempt such producers from paying the fee for special use of water and the fee for exporting agricultural products.
At the same time, the draft law exempts owners of land plots, land shares and land users from land tax, provided that such plots and shares are leased to agricultural tax payers or to agricultural producers who fall under the taxation system for crop farmers.
The draft law also resolves the conflict of rules and regulations for agricultural tax payers. In particular, it establishes the procedure of costing for repair of permanent assets and purchase of agricultural machinery. For income tax payers it is planned to expand the classification of permanent assets subject to depreciation in the tax management,” Marina Zheynova commented.