Unified Tax Account

A Unified Tax Account (UTA) will be opened by the Federal Treasury for every legal entity and individual entrepreneur on January 1, 2023.

From the beginning of the new year, taxes and insurance premiums will be paid directly to the UTA, without a division into types of taxes, fees, penalties, etc.

On January 1, the Federal Tax Service will determine the balance of the UTA, based on information about the current mutual settlements with the taxpayer. Therefore, it is important for all companies to:

- Reconcile with the Federal Tax Service all mutual settlements for the past three years.
- Determine the projected UTA balance for the beginning of 2023 and decide on paying debts or refunding overpayments.

It is important that in case of negative opening balance, payments to the UTA will first cover this debt and only after that current tax liabilities will be paid.

Due to implementation of UTA, the tax refund procedure will become simpler and faster. Any overpayment can be refunded, regardless of the statute of limitations.

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