On taxes and other obligatory payments to the budget (Tax Code)

Article 695. Calculation of taxes under a special tax regime with a fixed deduction

1. Corporate income tax, except for corporate income tax on net income and corporate income tax withheld at source of payment, to be paid in case of application of a special tax regime with a fixed deduction, is calculated for a taxable period as follows:

the product of the rate, established by paragraphs 1 or 2 of Article 313 of this Code, and taxable income, determined in the form of the difference between the income provided for by Articles 690 and 691 of this Code and the expenses provided for by Articles 692 and 693 of this Code, reduced in accordance with Article 694 of this Code

minus

the amount of corporate income tax subject to offset in accordance with Article 303 of this Code

minus

the amount of corporate income tax withheld at source of payment in a taxable period on income in the form of winnings, subject to reduction in accordance with paragraph 2 of Article 302 of this Code

minus

the amount of corporate income tax withheld at source of payment on income in the form of interest, dividends, carried forward from previous taxable periods in accordance with paragraph 3 of Article 302 of this Code

minus

the amount of corporate income tax withheld at source of payment in a taxable period on income in the form of interest, dividends, subject to reduction in accordance with paragraph 2 of Article 302 of this Code.

2. Individual income tax to be paid in case of application of a special tax regime with a fixed deduction, except for individual income tax withheld at source of payment, shall be calculated for a taxable period as follows:

the product of the rate, established by paragraph 1 of Article 320 of this Code, and taxable income, determined in the form of the difference between the income provided for by Articles 690 and 691 of this Code and the expenses provided for by Articles 692 and 693 of this Code, reduced in accordance with Article 694 of this Code.