It is not necessary to register as an individual entrepreneur or self-employed
Authors of content on the social network «VKontakte» can now receive payments directly as individuals, without having to register for this various statuses of a legal entity, individual entrepreneur or self-employed. Representative of «VKontakte» reported that this opportunity appeared as a response to a request from content creators.
Receiving funds in this way is available to both residents and non-residents of Russia. The social network takes over the deduction of insurance premiums for individuals and transfers funds minus personal income tax, which simplifies tax reporting. Authors can receive payments through a special account. A card, account or e-wallet are available for depositing. Transfers are also available through the Fast Payment System with a commission of 0.1%.