An interest-free loan to the founder from the organization threatens with the need to pay taxes on personal income. Under certain conditions, this risk can be avoided by paying a minimum interest to the lender.
Many founders receive money from the organizations they set up as an interest-free loan. Such an operation is executed by an expense cash order or by wire transfer of funds to a personal account. At the same time, the main risk is the obligation to pay tax, which is provided for by the current legislation for an individual who receives material benefits from the use of an interest-free loan. The founder is equated to an ordinary borrower; there are no privileges for him when receiving funds from the organization as a loan.
How is the material benefit of the founder calculated?
The obligation to pay tax on material benefits obtained as a result of using an interest-free loan is provided for in Article 212 of the Tax Code of the Russian Federation. If the loan is interest-free or the interest rate for the use of funds is less than two-thirds of the current refinancing rate, then the settlor will receive a taxable benefit. With an interest-free loan, to calculate the specified benefit, you must multiply the loan amount by two-thirds of the refinancing rate, then divide the resulting value by 365 and multiply by the number of calendar days of the loan. As a result, we will receive a material benefit in rubles, after which thirty-five percent of this amount should be calculated and paid, since this is the tax rate established for this type of income. The organization independently calculates and pays this tax, withholding money from the founder's salary if he simultaneously holds any position in this company. If the founder does not work in his company, then he is independently obliged to pay the corresponding amount as tax.
How to avoid paying tax to the founder?
The founder can avoid paying tax to the budget in the only way, which is to establish interest for the use of the loan. In this case, the specified interest will have to be paid to your own company, and the interest rate must be at least 2/3 of the refinancing rate. The only option for the interest-free use of funds without the risk of incurring additional costs in the form of taxes is a loan for the purchase of housing provided to the founder, who has the right to property deduction and uses the corresponding right.
