Movable property of organizations is exempted from taxation starting from 2019

The President of Russia signed Federal Law No. 302-FZ of August 3, 1981, according to which, since 2019, all movable property of organizations is exempted from taxation by property tax.

According to the law, since 2019 the tax base for this tax is determined separately for each real estate object of the organization and property that is part of the Unified Gas Supply System. At the same time, taxpayers are required to submit tax settlements on advance payments and a tax return to the tax authorities at the place of location of real estate facilities and (or) at the location of property included in the Unified Gas Supply System at the expiration of each reporting and tax period.

These measures to reduce the tax burden on organizations were planned in the main directions of the tax policy for 2019 and for the planning period of 2020 and 2021considered in the State Duma. Their goal is to create incentives for accelerated introduction and development of technologies of domestic industry, as well as renewal of the active part of the fixed assets of organizations (machinery, equipment).