Who submits financial statements
All companies that do not have an exemption from submitting reports to the Federal Tax Service must submit them, regardless of the type of activity they carry out or the size of their annual profit. There are exceptions to this general rule established by Part 4 of Art. 18 of the Accounting Law.
Thus, the Central Bank of Russia and companies that submit financial statements there, budgetary and religious organizations, companies whose accounting statements contain information containing state secrets are exempt from submitting accounting reports.
Some organizations have an obligation to provide accounting reports to Rosstat. These include, in particular, legal entities whose reports contain information classified as state secrets.
Budgetary institutions also submit accounting reports. Depending on the type of institution, reporting must be provided to the founder, local authorities or other bodies.
Deadline for submitting financial statements for 2022
Firms must submit financial statements no later than three months after the end of the reporting year. This rule is enshrined in paragraphs. 5, 5.1 clause 1 art. 23 of the Tax Code of the Russian Federation, as well as in Part 5 of Art. 18 of the Accounting Law.
If the last day of the period falls on a weekend, then in accordance with clause 7 of Art. 6.1 of the Tax Code of the Russian Federation, accounting reports can be submitted to the tax office on the first working day after this date. This means that balance sheets and other forms for 2022 must be submitted no later than March 31, 2022. And since this is a working day, all companies need to meet the allotted deadline - there will be no postponement.
As a general rule, the reporting period will be the period from January 1 to December 31, that is, a calendar year. An exception is provided for new organizations formed in the last quarter of the year, after September 30. In this case, the company has a choice - the annual accounting reports can be submitted along with all of them or postponed for one year. If the latter option is chosen, then the reporting must cover the period from the moment of creation of the company until December 31 of the calendar year following the creation. This rule is contained in Art. 15 of the Accounting Law.
Thus, if a legal entity was registered on October 15, 2021, it may not submit a balance sheet and other forms until March 31, 2022, and reports must be submitted by March 31, 2023 for the period from October 15, 2022 to December 31, 2022.
Federal Law No. 435-FZ dated December 30, 2021 changed the deadlines for submitting amended financial statements starting in 2022. Now, corrected reports must be submitted no later than July 31 of the year following the reporting year. If the error was corrected when approving the accounting reports after July 31 of the year, then it must be submitted no more than 10 working days after approval, but no later than December 31 of the year following the reporting year.
Previously, the corrected version had to be submitted within 10 working days from the date following the day of correction or the day of approval, without reference to specific dates in the year.
Who has the right to apply the simplified tax system in 2022
Individual entrepreneurs and organizations that meet certain conditions, in particular:
- The income limit based on the results of the reporting or tax period does not exceed 219.2 million rubles. (the base amount of 200 million rubles is adjusted by a deflator coefficient of 1.096).
- The number of employees is no more than 130 people.
- The cost of fixed assets is no more than 150 million rubles.
- The share of participation of other organizations is no more than 25% (condition for legal entities).
note
that from 2022 the limits on the use of the simplified tax system have changed and increased tax rates have appeared. As a general rule, if income from the beginning of the year falls within the range of 150-200 million rubles and/or the number of employees is 101-130 people, the right to the simplified tax system is retained. In this case, starting from the quarter in which the limits were exceeded, an increased tax rate is applied. It is equal to 8% for the “income” object and 20% for the “income minus expenses” object. If the income exceeds 200 million rubles and/or the number of employees becomes more than 130 people, the right to the “simplified tax” will be lost. These income limits are subject to adjustment by the deflator coefficient established by the Ministry of Economic Development for the current year.
Read about changes in tax rates and limits on the simplified tax system from 2022 here.
Note
: for existing organizations and individual entrepreneurs, the income limit that allows you
to switch to the simplified tax system
is 112.5 million rubles. This value for the transition to the simplified tax system was not subject to adjustment in accordance with inflation. But starting from January 1, 2022, the marginal income is again adjusted to the deflator coefficient established by the Ministry of Economic Development.
Note that quite recently the Ministry of Finance changed its opinion regarding which year the coefficient should be used to calculate the marginal income. Previously, the department believed that in order to apply the simplified tax system starting next year, income for 9 months of the current year must be multiplied by the deflator of the current year. According to paragraph 4 of Art. 4 of Law No. 243-FZ dated July 3, 2016, a deflator coefficient of 1 was established for 2022. Therefore, from 2022, only those entities whose marginal income for January-September 2020 was no more than 112.5 million rubles could apply the simplified tax system .
In 2022, the Ministry of Finance allowed the use of next year’s coefficient for calculation. According to the department’s letter No. 03-11-06/2/95943 dated November 26, 2021, to switch to the simplified tax system from 2022, the income limit for 9 months of 2022 should be 112.5 million rubles. x 1.096 (deflator for 2022) = 123.3 million rubles. The same coefficient applies to annual income limits, which give the right to apply the simplified tax system.
Tax legislation allows individual entrepreneurs to combine simplified and patent taxation systems; read about how to do this in this article.
How to submit financial statements
Let's start with the fact that accounting according to subclause 5.1, clause 1, art. 23 of the Tax Code of the Russian Federation, companies submit their documents to the tax office at their location. Some legal entities exempt from submitting reports to tax authorities in accordance with Part 7 of Art. 18 of the Accounting Law, accounting records must be submitted to state statistics bodies.
Reporting is provided electronically; the tax office will not accept a paper form. Previously, part 5 of Art. 18 of the Accounting Law provides for the possibility of submitting reports only via telecommunication channels. Now, Federal Law No. 435-FZ of December 30, 2021 has been amended, and from 2022, firms are given the choice of reporting through the Federal Tax Service website or via telecommunication channels through an electronic document management operator. All accounting reports submitted by legal entities are accumulated in the state accounting information resource (GIR BO).
From January 1, 2022, the one-window principle introduced by Federal Law No. 352-FZ dated 07/02/2021 will apply. Now there is no need to provide financial statements to other government agencies other than the tax office. These bodies can obtain information from a special state accounting resource.
An exception is provided only for legal entities exempt from submitting documents for the resource.
Loss of the right to use the simplified tax system
Note!
A transition period under the simplified tax system has been approved since 2022. Now you can be on a simplified system until the amount of income exceeds 200 million rubles (in 2022 - 219.2 million rubles) or the number of employees - 130 people. However, the tax will have to be paid at higher rates - 8 instead of 6% and 20 instead of 15%.
Individual entrepreneurs and organizations lose the right to use the simplified tax system if during the year:
- The amount of income exceeded 200 million rubles (in 2022 - 219.2 million rubles).
- The average number of employees was more than 130 people.
- The cost of fixed assets exceeded 150 million rubles.
Starting from the quarter in which individual entrepreneurs and LLCs ceased to meet the specified conditions, they are transferred to OSN.
Accounting reporting forms
According to part 1 of Art. 14 of the Accounting Law, as a general rule the following should be included in the accounting records:
- balance sheet;
- income statement;
- attachments to the above forms.
The following forms were approved as appendices to the balance sheet and financial results statement by Order of the Ministry of Finance of the Russian Federation dated July 2, 2010 No. 66n:
- statement of changes in equity;
- cash flow statement.
Based on paragraph 2 of Art. 14 of the Accounting Law, the annual accounting records of non-profit organizations also include a report on the intended use of funds.
Starting with accounting reports for 2022, all information in the forms is indicated in thousands of rubles.
The above-mentioned order of the Ministry of Finance includes explanations that contain a breakdown of the balance sheet lines, as well as details of the statement of financial results, as other annexes. Explanations are intended to provide more complete and expanded information about the financial condition of the organization than general reporting.
In cases where the company is subject to mandatory audit, then in accordance with Part 5 of Art. 18 of the Accounting Law, a report prepared by an audit organization is also sent to the tax office. It is submitted either together with the accounting reports, or within 10 working days from the date of such conclusion, but no later than December 31 of the following reporting year. Federal laws may provide for a different procedure for submitting an audit report.
Minimum tax (loss under simplified tax system)
If, at the end of the calendar year, an individual entrepreneur or LLC at the “Income minus expenses” object received a loss (expenses exceeded income), then it is necessary to pay the minimum tax (1%
from all income received).
In this case, the loss can be included in expenses next year or during one of the next 10 years (after which it is canceled). If there was more than one loss, then they are transferred in the same order in which they were received.
Also, when calculating tax according to the simplified tax system, it will be possible to take into account not only the loss of the previous period, but also the amount of the minimum tax paid last year. Let's look at an example of how to correctly take into account losses from previous years.
Example of accounting for losses from previous years
2021
Income - 2,650,000 rubles.
Expenses - 3,200,000 rubles.
Loss - 550,000 rubles.
The minimum payment at the end of the year is 26,500 rubles
(2,650,000 x 1%).
2022
Income - 4,800,000 rubles.
Expenses - 3,100,000 rubles.
The tax base at the end of 2022 can be reduced by the amount of the minimum tax paid for 2022 and the loss received in this period. Thus, the single tax base will be 1,123,500 rubles (4,800,000 - 30 - 550,000). The tax that will need to be paid for 2022 will be equal to 168,525 rubles
(1,123,500 x 15%).
Balance sheet for 2022
The first and most important form of accounting is the balance sheet, which is compiled according to accounting data. The information contained in this document discloses the financial position of the legal entity, its assets and liabilities. The balance sheet form was approved by Order of the Ministry of Finance of the Russian Federation dated July 2, 2010 No. 66n as amended by Order No. 61n dated April 19, 2019.
The balance sheet contains summary indicators of the value of the company's property and its liabilities, presented in the form of a table of columns and lines. This document consists of two sections - assets and liabilities. The total for an asset should always be equal to the total for a liability. Therefore, this form of reporting is called a balance sheet.
Balance sheet data is provided as of a specific date. This is the main difference between a balance sheet and an income statement. The last form also contains information about the financial results of the company, but for a certain period, on an accrual basis from the beginning of the year.
The balance sheet asset reflects the property owned by the company. It consists of non-current and current assets. Current assets include raw materials, supplies, cash and more. Current assets are more liquid than non-current assets, which include equipment, buildings, long-term investments, etc.
The liability side of the balance sheet reveals the sources of formation of the company's property. It consists of three sections: capital and reserves, long-term liabilities and current liabilities.
Income statement
The financial results statement is the second form of accounting for legal entities for 2022. It was also approved by Order of the Ministry of Finance of the Russian Federation dated July 2, 2010 No. 66n. The current form is used starting with reporting for 2022, and the composition of the lines has been significantly changed. Previously, this form was called the profit and loss statement; starting with the reporting for 2012, the name was changed.
The income statement reflects the key financial results of a company for a certain period: income, expenses, profit or loss and some other indicators.
Both the income statement and the balance sheet are prepared by all accounting firms. But if the balance sheet shows the property owned by the company and sources of financing, then the income statement reveals the efficiency of the legal entity.
Tax rates
For the simplified tax system with the object “income”
The basic tax rate is 6%, but it can be reduced by regional authorities to 1%.
From 2022, an increased tax rate has been introduced - 8%
. The procedure for applying bets is as follows:
- Initially, the tax is calculated at the regular rate (6% or lower - depending on the region and activity).
- If the income from the beginning of the year exceeded the base of 150 million rubles. (in 2022 - 150 million x 1.096 = 164.4 million rubles) or the average number of employees has become more than 100 people, then starting from the period in which this excess occurred and until the end of the year, the tax under the simplified tax system must be calculated at the rate of 8 %.
- If the income from the beginning of the year exceeded the base of 200 million rubles. (in 2022 - 200 million x 1.096 = 219.2 million rubles) or the average number of employees has become more than 130 people, then the right to apply the simplified tax system is lost.
For the simplified tax system with the object “income minus expenses”
The basic tax rate is 15%, but it can be reduced by regional authorities to 5%.
From 2022, an increased tax rate has been introduced - 20%
. The procedure for applying bets is as follows:
- Initially, the tax is calculated at the normal rate (15% or lower - depending on the region and activity).
- If the income from the beginning of the year exceeded the base of 150 million rubles. (in 2022 - 164.4 million rubles) or the average number of employees has become more than 100 people, then starting from the period in which this excess occurred and until the end of the year, tax under the simplified tax system must be calculated at a rate of 20%.
- If the income from the beginning of the year exceeded the base of 200 million rubles. (in 2022 - 219.2 million rubles) or the average number of employees has become more than 130 people, then the right to apply the simplified tax system is lost.
