A fine is a sum of money that is payable by a taxpayer who has not repaid his debts on time. This payment is regulated by the relevant tax legislation (Article 75 of the Tax Code of the Russian Federation).
Penalty among other payments
Among such payments as contributions for property pledge, suspension of various operations on bank accounts, bail or seizure of property of payers, a penalty is the most common way of additional receipts to budgets of various levels. At the same time, it serves as an integral part of the arrears and, in conjunction with the latter, forms a tax debt to the budget. To charge this payment, you do not need to issue additional documents, in contrast to the use of a pledge or surety.
The procedure for charging penalties
Penalty is charged for each calendar day if the payer fails to fulfill his obligations to pay taxes. The calculation of this payment begins from the next day of the term of tax payments established in accordance with the current tax legislation. The interest rate is equal to a certain part of the CBR rate that is valid for a specific date.
The penalty formula
The amount of the penalty is equal to the amount of arrears multiplied by the number of days of delay and the approved part of the refinancing rate of the Central Bank of the Russian Federation.
Main functions
When calculating the formula, you can see that the penalty will not reach the amount of tax soon (in ten years). Despite such a prolonged growth of this payment, in the modern specialized literature one can see the main functions performed by the penalty: it is stimulating and compensatory.
The penalty is payable simultaneously with the amount of other tax payments, or after they are paid in full.
However, from the point of view of the payer, penalties for taxes and levies are not only stimulating, but also punitive, since such a business entity is under an obligation to timely transfer additional amounts to the budget.
Reasons for non-application of penalties
There are cases when, if the obligations are not repaid in time, the taxpayer is not charged a penalty. This, firstly, the situation where the reason for the lack of payment is the suspension of operations by a court decision, or the property of the business entity is imposed for any reason, the arrest. In this case, this payment is not charged for the entire period of the imposition of such arrest. Secondly, if timely payment of tax liabilities is absent due to receipt of specific written explanations on the procedure for calculating and paying taxes and fees submitted by the financial or tax state body within its competence. Such explanations are submitted directly to the payer of taxes only in writing. Regardless of the date of the formation of this document, it must specify the specific tax period in which such failure occurred.