MOSCOW, 17 Feb – RIA Novosti. The Association of Banks of Russia (ADB) drew attention to the low popularity of corporate bank cards among legal entities due to the difficulties with tax deductions on them. The association sent its proposals to increase the demand for such cards to the Federal Tax Service, a copy of the letter is at the disposal of RIA Novosti.
According to experts, the active use of non-cash payments by companies will make their spending more transparent for the tax authorities and facilitate control over the operations of legal entities.
“Statistics show the low popularity of corporate credit cards in Russia, especially in comparison with some developed foreign countries. Currently, some legal entities prefer to use cash instead of a corporate bank card for certain types of payments. Based on the MIR payment system in December 2020 research, about 25% of respondents named the main reason for refusing to use corporate cards – the difficulty of accepting VAT on them for deduction, “- said in a letter to the association.
To solve this problem, ADB proposes to expand the requisite composition of the cash register receipt with the missing data from the invoice and provide the taxpayer with the right to deduct VAT on the basis of the cash register receipt for all expenses that were made on the corporate card.
In its letter, the association cites the position of experts who estimate a possible increase in the issue of such cards up to 7.5 million units and their turnover up to 7 trillion rubles per year. “This will make it possible to transfer part of the cash turnover to non-cash and ensure greater transparency of settlements of legal entities, increase the control of the Federal Tax Service of Russia over enterprises, as well as separate purchases of legal entities and individuals,” experts say.
Currently, about 4 million corporate cards have been issued in the Russian Federation, while only 50% of them are active, ADB statistics citing data from the Central Bank. The card turnover is about 3 trillion rubles per year. The share of payment for goods is more than 60%, services – about 30%, works – less than 10%. The share of purchases paid for with corporate bank cards in the total volume of purchases of legal entities does not exceed 2%.