Previously, a departmental regulation was in force, approved by a joint resolution of the Ministry of Finance, the State Tax Committee and the Central Bank in 2016. The new Regulation, approved by Resolution of the Cabinet of Ministers No. 661 dated 12/14/2023, has been updated in accordance with regulatory legal acts adopted after 2016.

The changes mainly affected the terminology and names of organizations. The main provisions concerning accountants have remained unchanged.

The social tax is calculated by payers independently based on the salary fund and tax rates for the reporting month. Funds for the payment of social tax are transferred to a Single Treasury account. The calculation and transfer of social tax is carried out monthly no later than the 15th day of the month following the reporting period, and at the end of the year - no later than February 15 of the following year.

In case of late reimbursement by legal entities of the Pension Fund's expenses for the payment of pensions, a penalty fee of up to 100% of the amount owed is charged for each day of delay, Norma reports.