From the moment of registration, individual entrepreneurs report for their work to the tax authorities and funds. Individual entrepreneurs provide the state with reports on income and expenses, pay taxes and insurance premiums.
Individual entrepreneur reporting is divided into accounting and tax accounting. In taxation, an entrepreneur counts income, or income and expenses, and pays taxes on them. Sometimes it’s more complicated: with value added tax or personal income tax on wages. And sometimes you don’t need to calculate any income and expenses, but you need to know the area of the sales floor. It all depends on the taxation system.
Accounting helps to keep track of all monetary transactions carried out by an entrepreneur. According to Federal Law 402, an individual entrepreneur has the right not to conduct accounting, but tax reporting must be submitted.
What kind of reporting an individual entrepreneur must submit to the tax office and funds depends on the form of taxation and the availability of employees. If an entrepreneur combines several tax regimes, then reports must be submitted for each of them.
What kind of reporting does an individual entrepreneur submit on the main form of taxation?
An individual entrepreneur, using the main form of taxation or OSNO, reports to the tax office and maintains a book of income and expenses - KUDiR. In it he writes down how much money he received, from whom and when. There is no need to submit the book to the tax office; the inspectors themselves will ask for it to be checked.
The individual entrepreneur submits to the tax office:
- VAT declaration via the Internet once a quarter;
- declaration 3-NDFL once a year - for 2021 must be submitted before April 30, 2018;
- declaration 4-NDFL when they receive their first income or within a month from the moment when income increased or decreased by 50%.
Penalties for late submission
According to Art. 119 Federal Law No. 146 of July 31, 1998 (as amended on August 3, 2018) of the Tax Code of the Russian Federation, part 1, if an individual entrepreneur does not submit one or another tax return on time, then the businessman is subject to a fine of 5% of the accrued duty amount. In case of long delay ㅡ more than a month ㅡ 30% for each overdue month, but not more than 1000 rubles.
According to Art. 13.19 Code of Administrative Offenses of the Russian Federation, punishment of individual entrepreneurs for late statistical reporting (PM-PROM, 1-IP, 1-IP (trade)):
- for a primary offense ㅡ 10,000 − 20,000 rubles;
- for secondary ㅡ 30,000 − 50,000 rubles.
Delay in filing reports with the Pension Fund of Russia (SZV-M) is punishable by a fine of 500 rubles for each insured citizen. Conducting a private business, regardless of the taxation scheme, does not reduce the entrepreneur’s responsibility to tax and statistical authorities, but reduces the requirements for the amount of documentation. The choice of SNO directly affects reporting, but not every taxation scheme applies to the chosen area of activity.
What reports are required to be submitted by individual entrepreneurs and employees?
If an individual entrepreneur hires workers, he reports to the Pension Fund, Social Insurance Fund and submits additional documents to the tax office.
In addition to declarations for a specific tax regime, individual entrepreneurs and employees submit:
To the tax office:
- declaration 2-NDFL once a year for each employee;
- information on the average number of employees - once a year;
- calculation of 6-NDFL - once a quarter;
- Insurance premiums are calculated once a quarter.
To the Pension Fund:
- report on insured employees in the SZV-M form - once a month;
- report on work experience in the form SZV-STAZH and EDV-1 - once a year.
To the Social Insurance Fund:
- report on contributions for injuries in Form 4-FSS.
How many employees can an individual entrepreneur hire?
An entrepreneur can hire as many employees as required by law, taking into account the type of business activity. For example, if a company operates on a patent, it can hire no more than 15 employees. On the simplified tax system and imputation - no more than 100 people.
If an individual entrepreneur employs more than 100 people, then he is no longer on the simplified tax system, but on OSNO - the main taxation system.
Filing reports between individual entrepreneurs and employees is complicated by the number of these same employees. The more there are, the more difficult it is to submit reports to individual entrepreneurs. In large companies, reports are submitted by a staff of accountants. Small companies do not have the opportunity to maintain an accounting department, so they hire a remote accountant, whom they contact only when necessary.
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