Russia’s Ministry of Finance clarifies how to determine the date of income from work for tax calculation

• The Russian Ministry of Finance has clarified how to determine the date of income from work for profit tax and VAT calculations.
• According to tax legislation, the date of income from the sale of goods (work, services, property rights) is the date of their sale, regardless of the actual receipt of funds or other property in payment.
• The date of income from work is considered to be the date of transfer of the completed work results from one party to another.
• The determination of the tax base for VAT depends on the earliest date of shipment (transfer) of goods (work, services, property rights) or payment, partial payment for future deliveries.
• The date of signing the acceptance certificate for the completed work is considered the date of work completion for VAT calculation.
• Invoices for contractor’s project and construction works must be issued within five calendar days from the date of signing the acceptance certificate by the client.

Source: garant.ru

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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