Update Software on Cash Registers for Simplified Taxpayers by End of 2024

• Entrepreneurs on the simplified tax system (УСН) need to update the software on their cash registers by October 15, 2024
• Simplified tax payers need to update the software on their cash registers by the end of the year
• Legislation on the use of cash registers specifies mandatory details on the fiscal receipt and strict reporting form
• Starting next year, organizations and individual entrepreneurs on the simplified tax system will also be recognized as VAT payers
• The Federal Tax Service (ФНС России) emphasizes the need for immediate installation of updates for organizations and individual entrepreneurs on the simplified tax system who will be calculating VAT at reduced rates
• Preferential tax rates apply when a simplified tax payer exceeds the income threshold of 60 million rubles
• If income does not reach 250 million rubles, the tax rate is 5%, and if it exceeds but does not exceed 450 million rubles, the rate is 7%
• The Federal Tax Service (ФНС России) reminds about the importance of updating the software on cash registers for organizations and individual entrepreneurs on the simplified tax system applying VAT at reduced rates.

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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