What is a pen alty? Pen alty: definition, types, features and accrual procedure

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

In case of violation of contractual obligations, Russian legislation provides for a special type of pen alties. Such a concept as pen alties serves as a regulator of compliance with the deadlines for the transfer of tax payments, utilities and many other obligations.

What is a fine, what is its regulatory role

Forfeit in the form of a fine is a fairly common occurrence in everyday life. The obligation to accrue such a pen alty arises at the moment of violation of the legal relations enshrined in the contract or regulation. If the violation is not eliminated, the fine will increase constantly. The amount of the pen alty directly depends on the amount of the obligation and is calculated as a percentage.

When understanding the question of what a pen alty is, people often come across such a term as "forfeit". It's practically the same. For example, if it is written in contractual obligations that the daily pen alty will be 0.3% of the payment amount, then such a term implies the accrual of pen alties.

In legal practice, two types of pen alties are used: thiscontractual pen alty and legal pen alty. In the first case, the amount of the pen alty is established by contractual relations. The approximate size of such sanctions is 0.5% per day. The second type of pen alty is established by law and regulated by the Civil Code of the Russian Federation. This method is used in case of non-payment of alimony, delay in utility payments and in other cases. In the absence of regulations for the calculation of such pen alties, the percentage of the pen alty is equated to the refinancing rate in force at the time of the violation.

In which case tax pen alties are charged

All tax payments have strict deadlines that must be strictly observed. If the transfer deadline is missed, then the regulatory authorities charge pen alties. Until the main tax is repaid, the interest will continue to rise. In order to stop them, it is necessary to make a budget payment as soon as possible.

Tax authorities accrue interest on taxes with the help of specialized programs. Previously, this time-consuming work was done by accountants, and despite the existing exact formulas, the results were still questionable.

There are also a number of cases where tax pen alties are not charged. For example, if the taxpayer's account is blocked by the decision of the tax authorities or the funds were arrested on the basis of a judicial act.

How pen alties and fines are related

Pen alties and fines are independent pen alties and do not depend on each other. There is a fundamental difference between these sanctions. Fineis issued to the company in case of detection of a violation, and the pen alty is calculated from the first day of delay in payment. Pen alties have fixed amounts, the pen alty is calculated according to a certain formula, taking into account the current refinancing rate.

Fine interest charged for late utility payments

Delay in payment of utility bills remains an acute problem for management companies. To ensure that the amount of debt does not become critical, energy and household service providers have the right to set a pen alty for utilities.

The amount of sanctions imposed depends on the number of days of delay. According to the new rules, from January 1, 2016, pen alties begin to accrue from 31 days. Within three months (90 days), interest will be charged at the rate of 1/300 of the refinancing rate, and from 91 days the interest will be increased to 1/130 of the rate.

Sometimes the owner of the apartment will have to leave for a certain period, in which case you can avoid the accrual of pen alties if you write an application to the management company in advance. Such a delay may be granted to an individual for six months.

Delayed payment of OSAGO - fines will be charged

The OSAGO insurance contract involves the establishment of a certain liability of the parties, for failure to comply with which pen alties are provided. In the event of an insured event, the consideration of the application of the victim should last no more than 20 days. After this period, the insurance company is obliged to pay the insurance premium to the applicant or formulate a reasonablerefusal.

If the funds are not paid on time, the company will have to charge a pen alty. The insurance pen alty is 1% of the debt amount, accrued daily. If the insurance company has partially paid the client, then the pen alty is charged on the balance of the amount. In case of deliberate delay in the consideration of the application, a pen alty of 0.05% daily is provided. It is worth noting that the total amount of recovery cannot be higher than the maximum insurance payment.

Why you need a refinancing rate

The percentage at which the Central Bank provides loans to commercial banks is called the refinancing rate. This economic term has a fairly large strategic value and is actively involved in the calculation of pen alties.

Fine is calculated on the basis of 1\300 of the rate for each overdue day. In other words, the amount owed is multiplied by 1/300 and by the number of missed days. Also, the interest rate is involved in labor legislation and regulates the timely payment of wages to employees.

The refinancing rate may change several times during the year, so it is very important to constantly monitor such changes in order to correctly calculate interest on payments.

How to calculate pen alties correctly

As it turned out, what a pen alty is is not difficult to understand, it is a little more difficult to understand how this value is calculated.

The amount of pen alties is always determined inpercentage of the principal amount of the debt. The federal law establishes that pen alties are charged in the amount of 1/300 of the refinancing rate set by the Central Bank of Russia.

In order to calculate the pen alties correctly, you need to multiply the amount of debt by the number of days of delay and the refinancing rate in the proportion of 1/300 percent.

The bank's refinancing rate can change several times a year, so the question arises what value to use in the formula. According to the law, pen alties will have to be calculated in separate periods, taking into account the percentage changes that have occurred. And it doesn't matter if the rate increased or decreased.

Transfer of pen alties

The accrued pen alties can be transferred simultaneously with the payment of the principal debt or, in case of a shortage of funds, independently after the debt is repaid. Pen alties on payments cannot be written off by the bank without acceptance, nor can they be paid with company property. It is very important when paying interest to comply with the procedure for returning the principal debt. If the arrears are not repaid, then the transfer of pen alties will be meaningless, as their growth will continue. The main payment is always paid off first.

The Russian tax code establishes a statute of limitations applicable to arising debts. A person who has committed an offense cannot be held liable after three years, which are calculated from the moment the offense was committed, or the first day after the end of the tax period. Therefore, many citizens and legal entities, having learnedwhat is a pen alty and what is the deadline for fulfilling the obligation to repay it, they are in no hurry to repay the debt. This is a gross violation of the law and may lead to more significant consequences.