BANK ACCOUNT MAY BE BLOCKED DUE TO NONPAYMENT OF SOCIAL FEES

Block of bank accounts is one of the strictest measures. It is particularly unacceptable before important deal or regular contractual payments. At the moment, such penalty is provided only for non-payment of taxes or failure to submit tax declarations, however, soon this situation might be changed.Government is planning to extend grounds for bank account block. Under new draft law tax authorities will be entitled to block bank accounts due to nonpayment of social fees, or late reporting.Now, this draft law undergoes anticorruption test. We will keep you informed.