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Russia Issues Notice on Increased Late Payment Penalty Starting October 2017

|Approved Changes|Russia
Russia

The Russian Federal Tax Service has issued a notice that on 1 October 2017, the penalty for late tax payment will be increased for companies if exceeding 30 days delay. The increase was introduced by Law No. 401-FZ ({News-2016-12-07/A/4-previous coverage}), and includes that if payment is more than 30 days late, the penalty is increased from 1/300 to 1/150 of the Russian Central Bank's refinan…

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