1/300 of the refinancing rate is the percentage by which the amount of debt is multiplied in case of non-payment of various amounts when calculating penalties on the debt. If you need to calculate penalties for 1/300 of the refinancing rate, we suggest doing the calculations in the online calculator below.

To use the calculator, simply enter the amount of debt and the number of days overdue for payment. Also select the rate you are interested in.

Note! Since the beginning of 2016, the refinancing rate has not been set independently by the Bank of Russia; it is equal to the key rate, the value of which changes regularly. Since the calculation of late payment penalties is calculated taking into account the rate in effect at the time of the debt, when calculating in the online calculator, select the required refinancing rate.

The calculator allows you to make online calculations taking into account the current rate for the period from the beginning of 2016 to the present.

Changes in the refinancing rate by period for 2017:

How to calculate penalties for 1/300 of the refinancing rate in an online calculator

To use the late fee calculator, follow three simple steps:

1. indicate the amount of debt in the top line of the calculator;
2. indicate the refinancing rate you need (take the one that is valid during the period of late payment; if the debt is for a period for which different rates fall, then the calculation should be carried out separately for each, taking into account the number of corresponding days, after which the results should be added up);
3. Enter the number of days the payment is overdue in the bottom line of the online calculator.

After entering this data, the penalty is calculated online as 1/300 of the refinancing rate.

The formula used in the calculation is:

Penalty = Payment debt * Ref. * 1/300 * Number of days overdue

Note! From October 1, 2017, new rules for calculating penalties for taxes and contributions apply - penalties for the first 30 days are calculated as 1/300, and from the 31st - as 1/150. These new rules apply to arrears arising from October 1, 2017. For earlier arrears, the calculation is carried out according to the old one, as 1/300 of the refinancing rate.

Many are faced with such a definition as the refinancing rate of the Central Bank of the Russian Federation. The refinancing rate is often found in issues related to the banking sector, in particular the issuance of loans to banks, as well as legal issues related to the calculation of penalties and interest. As a rule, in order to calculate the penalty, you need to know how much one three hundredth of the refinancing rate is. How to calculate one three-hundredth of the refinancing rate and why we may need calculations will be discussed in this article.

Refinancing rate: what is it?

The refinancing rate is the percentage at which the Central Bank provides loans to commercial banks. It is always taken on an annual basis. The refinancing rate is one of the main components of the country’s economic course and internal monetary relations. The rate does not fluctuate much in its value. Thus, from 2011 to 2017 it increased from 8.25 to 11%. The value can be checked on the official website of the Central Bank of Russia.

This percentage is based on the credit policy of the entire country: thus, the rate is used in calculations in all areas of taxation, as well as when calculating penalties and fines. In most calculations related to debt accounting, the definition used is “one three-hundredth of the refinancing rate,” since this amount limits the amount of the fine. Many lawyers also cannot do without the calculations associated with this rate, since when preparing claims or claims, it is necessary to provide calculations of penalties. How to correctly calculate this indicator is described in detail in Art. No. 75 of the Tax Code of the Russian Federation.

This type of interest is also used in calculations between the employer and the employee. So, the first one must pay the employee a penalty, the calculation of which also uses the formula for calculating penalties based on the refinancing rate. Of course, the employee must also be paid the main part of the employer's debt.

How to calculate penalties

How to calculate the penalty at the refinancing rate is one of the most frequently asked questions among accountants and lawyers. So, the amount of the penalty depends on fluctuations in the rate over the entire period of the debt, and this is what adds complexity to the calculations. The formula for calculating penalties at the refinancing rate is as follows:

Penalty = amount payable x Day x SR/100x1/300,

• The amount to be paid is the amount of debt for the entire period of time.
• Day – the sum of days of delay. It is worth considering that the last day of settlement is considered the day designated for payment of the penalty.
• SR – refinancing rate.

Since percentages are taken for the calculation, the number must be divided by 100. When calculating penalties, one three-hundredth of the rate is traditionally taken, and therefore at the very end we multiply the resulting figure by 1/300.

The calculations themselves are simple, however, they require care and knowledge of certain subtleties: for example, when calculating the penalty if the rate has changed, the calculation should be made as many times as the rate percentage has changed. Let's look at the calculations using a specific example:

Let’s say the amount of debt is 30 thousand rubles, and the period of delay is 40. During this time, the value changed once: for example, it was 8% for the first 12 days of delay and 8.25% for the next 28 days. Let's calculate the penalty for the first 8 days of delay:

Penalties = 30,000 x 12 x 8 /100 x 1/300 = 96 rubles.

Now let's calculate the penalties for the remaining period:

Penalty = 30,000 x 28 x 8.25 /100 x 1/300 = 231 rub.

Adding the first and second digits we get a result of 327 rubles. Thus, the amount of the penalty for the entire period of delay is 327 rubles.

Please note: to calculate the margin, the formula will include such a component as possible penalties and penalties.

Calculation of interest for the use of other people's funds

There are cases when a company's counterparty uses funds transferred to him by mistake. So, if the counterparty evades the return of funds, then he is obliged to pay interest in accordance with Art. 396 of the Civil Code of the Russian Federation. Calculating interest under Article 395 is not so easy. Thus, their size, first of all, depends on the bank loan rate for individuals, unless otherwise provided by agreements between the two counterparties.

It is also worth considering the point that if during the calculation it was revealed that they are higher than the amount of the debt itself, then the counterparty can demand only that part that exceeds the amount of the debt. This type of interest is charged on the day of payment, unless otherwise agreed between the counterparties.

Until June 1, 2015, interest on this type of violation depended on the rate, however, then the situation changed radically. Now, in order to calculate the penalty under Article 395 of the Civil Code of the Russian Federation, you must adhere to the following formula:

Interest = amount of debt x bank interest rate for individuals / 365 x number of days of delay.
The bank interest rate is taken according to the location of the organization. Average interest rates for this type of rate can be found on the website of the Central Bank of the Russian Federation. Rates can vary greatly depending on the federal district where the plaintiff is located. Just as in the case of the refinancing rate, if the delay falls within the validity periods of several rates, then it is necessary to calculate the delay for each percentage separately, and then add up all the resulting amounts. Please note that depending on whether it is a leap year or not, you must take the correct number of days in the year.

A penalty (fine, penalty) is a sum of money determined by law or contract, which the debtor is obliged to pay to the creditor in the event of non-fulfillment or improper fulfillment of an obligation, in particular in the case of delay in fulfillment (Article 330 of the Civil Code of the Russian Federation).

At the same time, there is no legal penalty for the supply contract. Consequently, it can be determined by the contract, and the contract may not provide for penalties at all.

The basis for the application of a penalty is the fact of violation of obligations or requirements of legal acts or certain business customs.

Interest on the use of someone else's money is also a type of liability, in addition to losses, and can be recovered for delay in fulfilling an exclusively monetary obligation on the basis of Art. 395 Civil Code of the Russian Federation. Such interest is charged regardless of whether it is established by contract or not.

Consequently, if the contract does not provide for a penalty, then liability is calculated based on Art. 395 Civil Code of the Russian Federation. The simultaneous application of two measures of liability for the same offense is permitted in the case where a penalty is established by law or agreement (Resolution of the Presidium of the Supreme Arbitration Court of the Russian Federation dated November 18, 1997 No. 3847/97). In this case, the penalty is not a penalty. Consequently, the simultaneous application of both penalties (established by the contract) and interest for the use of other people's funds is not possible.

The rationale for this position is given below.

Resolution of the Presidium of the Supreme Arbitration Court of the Russian Federation dated November 18, 1997 No. 3847/97

“Between the Elabuga Training and Production Enterprise of the All-Russian Society of the Blind (supplier) and JSC Kommersant (buyer), an agreement dated January 31, 1996 No. 80 for the purchase and sale of bristle and brush products was concluded.

In accordance with the terms of the contract, the buyer agreed to pay for the goods within 30 days from the date of receipt. Clause IV of the contract provides for the buyer's liability for late payment in the form of penalties in the amount of 0.5 percent of the cost of the goods for each day of delay.

At the court hearing it was established that the buyer did not pay for the goods received within the period stipulated by the contract. Therefore, the debt for the goods was reasonably collected from JSC Kommersant.

At the same time, the court recovered from the defendant both penalties for late payment and interest for the use of other people's funds, applying two penalties for one offense.

Chapter 25 of the Civil Code of the Russian Federation “Liability for violation of obligations” allows for the simultaneous application of two measures of liability for the same offense in cases where a penalty is established by law or agreement.

It is not clear from the agreement concluded by the parties that sanctions for late payment for goods are punitive in nature*.

Under such circumstances, JSC Kommersant should have been charged only the late payment penalties provided for in the contract. Interest for the use of other people’s funds, provided for in Article 395 of the Civil Code of the Russian Federation, was not subject to recovery for the same offense.”

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How to calculate

Attention!

In order to make the necessary calculations, you need to perform three steps:

• the full amount of debt is written down in the top line of the calculator;
• then the period of delay is indicated;
• The required refinancing rate is indicated below. Take the one that is valid during the period of delinquency. If a citizen’s debt lasted for several periods during which the rate changed, the calculation is made separately for each period. All numbers of days falling during this time are calculated. Then all the results are added to each other;
• the bottom line of the online calculator contains information about partial payment of debt;
• after all the data has been entered, the amount of the penalty is calculated at a refinancing rate of 1/300.

Remember!

Changes were made to the procedure for calculating penalties and interest at the refinancing rate from October 1, 2017. In the first 30 days, all late payments for taxes and fees are calculated at a rate of 1/300. And starting from 31 days of delay, payment will be made at a rate of 1/150.

The new rules apply to arrears arising from October 1, 2017. Previously, payment was made at a rate of 1/300 for all days of delay.

If the refinancing rate has changed

Difficulty in calculating penalties on debts arises due to the fact that the rate changes in different periods. For example, a citizen incurred a transport tax debt on April 26, 2017, and payment was made on May 27. Moreover, in the period until May 17, the rate was 9%, and after May 18 it became 8.5%. In this case, the penalty is calculated in parts.

Remember !

• Calculations are made as follows:
• in the first calculation, the top line of the online calculator indicates the full amount of debt, the second line indicates the number of days that fall on this refinancing rate, then the rate of 9% is indicated;

the second calculation is made in the same way. The top line indicates the amount of debt, the second column is for the number of days, then the interest rate is 8.5%. The result of the calculation is the penalties that will be accrued for the period from May 18 to May 27.

In order to find out the amount of the penalty for the entire billing period, both obtained results are added to each other.

Calculation formula

There is a general rule by which the calculation system is made.

To do this, a formula is used: the amount of the penalty is equal to the amount of the tax or contribution that was not paid on time, which is multiplied by the refinancing rate established by the Central Bank for the period of delay, divided by 300 and multiplied by the number of days.

From October 1, 2017, changes were made to the procedure for calculating penalties for organizations that are paid to the Tax Service.

Calculation of penalties at the Federal Tax Service from 10/01/2017.

The amount of penalties that arose on overdue debts from the period from October 1, 2017 will depend on the period of delay.

There are several options for calculating penalties. In the first option, the number of days overdue is less than 30 days. In this case, the calculation is made using the above formula.

• the amount of penalties is equal to the amount of debt for the specified period, which is multiplied by the Central Bank refinancing rate, divided by 300 and multiplied by the number of days;
• the amount of penalties from 31 days is made using the same formula, but the refinancing rate is multiplied by 150. The rate is determined for the period after 31 days of installments, the number of days is indicated which is over 31 days.

To find out the total amount of debt for penalties, both parts are added together.

Watch the video. How to receive interest for using someone else's funds:

Calculation example

In accordance with the terms of the supply agreement, penalties in the amount of 1/300 of the refinancing rate are charged for each day of delay. The payment deadline under the agreement was July 2, 2017. On this date, the buyer had to pay an amount of 645 thousand rubles.

But payment was made only on 08/08/2017. Using an online calculator, debt penalties are calculated. In total, the seller was overdue for payment by 37 days. Of these, the calculation will be carried out for 30 days at a rate of 1/300, for the remaining 8 days - at a rate of 1/150.

Attention! Our qualified lawyers will assist you free of charge and around the clock on any issues.

Payment is made in several parts:

• the first part consists of a debt amount of 645,000 rubles, followed by an overdue period of up to 30 days. These are days from 07/03/207 to 08/01/2018. The refinancing rate is 1/300, the key rate for the Central Bank during this period was 9%. It is entered into the online calculator automatically for the period of the debt. According to the first calculation, the amount of the penalty is 5805 rubles;
• the next part of the calculation is for days over 30. 645,000 rubles are entered into the amount of debt. The due date changes. The number of days is set automatically by the program. The calculation is made within 7 days, the refinancing rate is indicated as 1/150. The key rate under the Central Bank remains unchanged during this period, it is 9%. According to the calculations made, the total amount of debt will be 2,709 rubles.

To find out the total amount of debt, both amounts are added to each other. 2709 + 5805 = 8514 rubles.

When does the refinancing rate apply?

To understand why the refinancing rate is used, you need to know the definition of key concepts. Penalties mean a penalty - one of its varieties, which is accrued for each day of delay.

The concept of “refinancing rate” refers to the interest rate that is applied by the Central Bank when issuing loans to other third-party banks. Since 2016, it has become equal to the key one.

The key rate is the interest rate on Bank of Russia operations, which is used to determine the level of the country's monetary policy.

A rate of 1/300 is applied to all calculations of penalties and penalties for taxes, utility bills, insurance premiums, and fees.

How is the number of days of delay calculated?

There is an important point in calculating penalties for late taxes and insurance premiums that are paid to the Tax Service. This includes contributions for compulsory health insurance and compulsory pension.

The calculation of these payments is made differently from the period of overdue penalties for injuries and for compulsory medical and pension insurance, when they were paid into the funds themselves.

In accordance with the Letter from the Ministry of Finance dated July 5, 2016, penalties for late payment of taxes and fees to the Territorial Tax Service begin to be calculated from the next day that precedes the actual period for payment of the contribution.

For example, an organization paid personal income tax on wages on April 19 instead of March 31, 2018. In this case, late fees will be calculated for the period from April 1. If an individual paid the tax with a delay of 1 day, then no penalties will be charged to him.

If we are talking about calculating penalties for “injuries” or for contributions that, until 2017, were transferred directly to the Funds themselves, then penalties will be accrued from the day following the day of payment. All these provisions are spelled out in Federal laws.

For example, an organization was supposed to transfer contributions for “injuries” on April 17, 2017, but was late in payment and transferred the payment only on April 28. Thus, she will be charged a penalty for 11 days of delay.

Updated: 06/16/2019 (last change in the discount rate on 06/17/2019 from 7.75% to 7.5%)

Main calculation modes:

Calculation of penalties at the refinancing rate.

• 1,300 refinancing rates. One three-hundredth of the refinancing rate (this calculation of interest at the refinancing rate is used for debts for housing and communal services or the Labor Code (payment of salary).


• penalties at the refinancing rate. Penalties are calculated at the whole rate, for example, if interest is not specified in the loan agreement (Civil Code of the Russian Federation). The calculation of the penalty/fine at the refinancing rate is carried out, in fact, if there are no other conditions.


• If the debt was formed during the period of validity of several rates. Here you can use the option with a floating rate, which will automatically change depending on the debt period. Or, for example, choose the latest refinancing rate (the position set out in the Resolution of the Presidium of the Supreme Arbitration Court of the Russian Federation No. 5451/09). This calculation may be used by the arbitration court.

Calculation of late payment penalties

Calculations of fines or penalties can be carried out without reference to the official rate. The calculator allows you to set your own values ​​based on the contractual relationship with the counterparty (both in percentage and in absolute terms) and then calculate the penalty under the contract.

Calculation example

How to calculate the refinancing rate

The rate is set by the Central Bank; see the page for a complete archive of rates for various periods.