Employers plan to exempt themselves from the annual confirmation of OKVED* codes with the Social Fund. The bill, which was adopted in the State Duma at the plenary session on January 23 in the second reading, amends the Federal Laws of the Russian Federation.
According to the amendments, it is proposed to cancel the obligation of annual confirmation of OKVED codes for legal entities and individual entrepreneurs in the Pension and Social Insurance Fund.
However, in case of a change in the main type of economic activity, it will be necessary to inform the Federal Tax Service. Also, if the percentage of one of the OKVED codes changes by more than 20 percent, it will also need to be notified.
This change is expected to come into force from September 1, 2024.
*OKVED code - All-Russian Classifier of Types of Economic Activities
According to the amendments, it is proposed to cancel the obligation of annual confirmation of OKVED codes for legal entities and individual entrepreneurs in the Pension and Social Insurance Fund.
However, in case of a change in the main type of economic activity, it will be necessary to inform the Federal Tax Service. Also, if the percentage of one of the OKVED codes changes by more than 20 percent, it will also need to be notified.
This change is expected to come into force from September 1, 2024.
*OKVED code - All-Russian Classifier of Types of Economic Activities
