In accordance with the order of the Federal Tax Service of Russia dated 19.07.2021 No. ED-7-13/671@ from 2022, the notification of controlled foreign companies (CFC) will need to be submitted in a new form.
The updated form was added, in particular, the date of submission to the tax authority of a notification of the transition to payment or a notification of the refusal to pay personal income tax with a fixed profit. These details are necessary for the implementation of the provisions of paragraph 6 of Article 25.14 of the Tax Code of the Russian Federation introduced in November 2020 on the possibility of paying a fixed personal income tax from the profit of a CFC.
We recall that legal entities must submit a CFC notification in electronic form by March 20 of the year following the year in which income in the form of profit of the controlled firm is recognized. Thus, the new notification form will be applied starting from the notification for 2021.
The penalty for failure to provide false information on time or providing false information is 100,000 rubles for each controlled company, information about which is not provided or provided with violations.
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