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Rules on taxation of non-operating income
Rules on taxation of non-operating income
We hereby inform you that non-operating income refers to income derived from participation in the activities of other enterprises as a shareholder, income obtained from shares, bonds, and other securities owned by the enterprise, as well as other income earned from transactions not directly related to the production and sale of goods and services (works). This includes amounts received in the form of penalties and compensation for damages, positive exchange rate differences from foreign currency operations, and creditor or depositor debt amounts for which the statute of limitations has expired in accordance with legislation.
Non-operating income of payers of income and profit tax (excluding taxes withheld at the source of payment) is subject to income and profit tax.
According to Article 219.1 of the Tax Code, the taxable base for simplified taxpayers (excluding those specified in Article 218.4 of this Code) during the reporting period includes the total proceeds obtained from the supply of goods (works, services) and property, as well as the volume of non-operating income (excluding income taxed at the source of payment).
At the same time, we inform you that non-operating income does not constitute a taxable object for VAT purposes.
We hereby inform you that non-operating income refers to income derived from participation in the activities of other enterprises as a shareholder, income obtained from shares, bonds, and other securities owned by the enterprise, as well as other income earned from transactions not directly related to the production and sale of goods and services (works). This includes amounts received in the form of penalties and compensation for damages, positive exchange rate differences from foreign currency operations, and creditor or depositor debt amounts for which the statute of limitations has expired in accordance with legislation.
Non-operating income of payers of income and profit tax (excluding taxes withheld at the source of payment) is subject to income and profit tax.
According to Article 219.1 of the Tax Code, the taxable base for simplified taxpayers (excluding those specified in Article 218.4 of this Code) during the reporting period includes the total proceeds obtained from the supply of goods (works, services) and property, as well as the volume of non-operating income (excluding income taxed at the source of payment).
At the same time, we inform you that non-operating income does not constitute a taxable object for VAT purposes.