The Nizhny Novgorod region is challenging millions of fines for late payment of one ruble

The Ministry of Finance of the Nizhny Novgorod Region in the arbitration court is seeking a ban on the collection into the federal budget of 29.1 million rubles, accrued by the Ministry of Finance of the Russian Federation as late fees for one ruble and one kopeck of interest on a budget loan. Previously, the Moscow Arbitration Court refused to introduce interim measures; the plaintiff filed an appeal.

As Kommersant reported, in 2020 the Ministry of Finance of the Russian Federation issued a budget loan of 9.7 billion rubles to the Nizhny Novgorod region. with a maturity until 2029. Under the terms of the loan, the regional Ministry of Finance pledged to return 485 million rubles to the federal budget. with interest on this amount until November 30, 2023. However, on November 30, the Russian government wrote off the debt of the Nizhny Novgorod region for 369.6 thousand rubles. on the loan and the Ministry of Finance paid the reduced amount. After this, the ministries recalculated the interest payable, reducing it by 1.01 rubles. However, the calculations of the Ministry of Finance of the Russian Federation turned out to be higher by these percentages than those of the Ministry of Finance of the Nizhny Novgorod Region, and the federal ministry calculated multimillion-dollar penalties, issuing an order for their payment to the budget of the Russian Federation.

Now the Ministry of Finance of the Nizhny Novgorod Region is challenging the decision of the federal ministry and is trying in the courts to block possible penalties until the case is considered on its merits. The Ninth Arbitration Court of Appeal will consider the plaintiff’s complaint on April 22.

Read more in the Kommersant article. “A penny doesn’t save a ruble”.

Roman Kryazhev, Nizhny Novgorod