The interest-free loan to the founder of the organization facing the need to pay taxes on personal income.
Under certain conditions, this risk can be avoided by paying minimal interest to the lender.
Many founders get money fromorganizations founded by them as an interest-free loan. This operation is made expendable cash orders or wire transfer of funds to the account. At the same time the main risk is the obligation to pay the tax, which is provided by the current legislation for individual receiving material benefit from an interest-free loan. Founder equates to normal borrower, no privileges in obtaining funds in the organization as a loan is not provided to him.
How is the material benefit of the founder?
The obligation to pay the tax from the material benefits,resulting from the use of interest-free loan, provided for in Article 212 of the Tax Code. If the loan is interest-free or interest rate for funds less than two-thirds of the current refinancing rate, the founder of the taxable benefit. When free loan for the calculation of this benefit must be multiplied by the amount of the loan by two-thirds of the refinancing rate, and then divide the result by 365 and multiply by the number of calendar days of the loan. The result is a material benefit in rubles, then should calculate and pay thirty-five percent of this amount, since it is such a tax rate set for this type of income. The organization independently calculate and pay this tax by holding the funds of the founder of the salary, if he at the same time hold any position in the company. If the founder of his company does not work, he alone is obliged to make the corresponding amount as a tax.
How to avoid paying the tax to the founder?
The founder can avoid paying the tax to the budgetthe only way, which is to establish the interest on the loan. In this case, these percentages will have to pay in their own company, and the interest rate should be at least 2/3 of the refinancing rate. The only option is an interest-free utilization of the funds without the risk of incurring additional costs in the form of taxes - is a loan for the purchase of housing provided by the founder, who has the right to deduct the property and uses the corresponding right.