The financier spoke about the new debt collection procedure from November
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Financier Leonova: out-of-court debt collection will take effect on November 1
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In Russia, the law on the extrajudicial collection of tax debts comes into force on November 1. Olga Leonova, Associate Professor of the Department of State and Municipal Finance at Plekhanov Russian University of Economics, told about this on September 19 in an interview with the Prime agency.
"It is important to note that an out—of-court procedure can only be applied to undisputed debts (that is, in respect of which there are no disputes)," the financier noted.
According to her, the new rules will apply to individuals without the status of an individual entrepreneur (IE), who at the same time have debts on taxes and fees, insurance premiums, penalties, fines, and interest.
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