Fee Calculation

Penalty is a form of punishment that is determined by the established criteria, for violation of the deadlines for the execution of its payment obligations by a legal entity or an individual. The calculation of the penalty is quite simple, you can do it yourself, and in this article we will try to simplify this task for you.

Sometimes when doing business, and housekeeping, too, we can delay with payment of any payments. This happens for various reasons, for example, you spent too much in the current month, and there is absolutely no money left to pay taxes, utility bills, and so on. Sometimes people simply simply forget about the deadline for payment or lose a receipt with the necessary payment details. It is in such cases that you have to sit down at your own computer and begin to make an exact calculation of the penalty.

Naturally, the organizations that debtors owe to their well-being, and the contracts prescribe that if the counterparty fails to fulfill its financial obligations in time, he will be obliged to make certain additional payments to cover possible damage. Simply put, the penalty will be calculated, which is subject to mandatory payment. Indeed, because if payments do not arrive in time, it turns out that those who have debts, illegally use other people's money. And inflation over time "eats" the value of money.

Of course, there are some rules for calculating the penalty, for example, it should not exceed the value of the contract, payments for which are overdue.

In general, the penalty should be calculated as follows:

SP = СЗ * Кд * 1/300 * СР

Let us decipher the components of this formula:

SP is the amount of penalty;

NW - the amount of debt under the contract;

Cd - number of days overdue;

300 is the average number of working days per year ;

SR - the current refinancing rate in the country.

In general, the above formula, is suitable for those moments when, for example, the penalty for late payment is calculated. There is nothing complicated, just take your contract, find in it a clause in which its sum is described. After you find the point in which the deadline for fulfilling your financial obligations has been set. Then you calculate how much you owe your creditor. Having determined this amount, multiply it by the number of overdue days, the refinancing rate, after which you divide all by 300 days. As a result, you will receive that amount of your fine that you will pay.

Some readers have a fair question: why is it necessary to multiply also the refinancing rate? Simply, this indicator, determined by the Central Bank, reflects the current inflation in the country, in addition, on its basis all loans are calculated. And since the debt that arises in the event of late repayment of obligations can be provisionally recognized as a loan, it is fairly fair to charge for it certain interest rates that take into account inflationary trends in the country.

If you owe the state, then you will also pay a penalty. The calculation of tax penalties is recommended to be made in accordance with the letter of the Ministry of Finance of March 18, 2008 N 03-02-07 / 1-106, which states that if you did not pay a certain amount of tax due to you in time, for each calendar day , You will pay the state a penalty, which is calculated on the basis of your debt. And the penalty itself will be calculated on the basis of Article 75 of the Tax Code.

If you can not calculate the penalty yourself, you should contact the professionals. However, it is best not to be late with the payment of your debts, then you will not have to count fines, which will be very pitiful to give, because, as you know, we take not our own, but give it-our own.