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

Article 647. The order and time limits for transfer of corporate income tax at source of payment

1. A tax agent shall transfer corporate income tax at source of payment, withheld from the non-resident’s income, to the state budget:

1) with regard to amounts of income assessed and paid, except for the case specified in subparagraph 3) of this paragraph – within twenty five calendar days after the end of the month, in which income was paid, at the market exchange rate set on the last business day preceding the date of income payment;

2) with regard to amounts of income assessed but unpaid, when allocating them to deductibles - within ten calendar days of the deadline set for submitting a corporate income tax declaration, at the market exchange rate set on the last business day preceding the last day of a taxable period, established in Article 314 of this Code in a corporate income tax declaration, for which the non-resident’s income was allocated to deductibles.

The provisions of this subparagraph do not apply to interest on debt securities and deposits, the maturity dates for which come after expiration of ten calendar days of the deadline set for submitting a corporate income tax declaration. In this case, the provisions of subparagraph 1) of paragraph 1 of this article shall apply;

3) in case of prepayment - within twenty-five calendar days after expiration of the month, in which the non-resident’s income was assessed within the amount of the prepayment made, at the market exchange rate set on the last business day preceding the day of income assessment.

2. If the non-resident’s assessed income was allocated to deductibles in a corporate income tax declaration for the taxable period, established by Article 314 of this Code, but at the same time such income was paid to a non-resident after this period, a tax agent shall transfer income tax at source of payment to the budget within the time limits established by subparagraph 2) of paragraph 1 of this article.

3. A tax agent shall transfer to the budget the amount of income tax from the non-resident’s income at source of payment at its location.