Russia

Tax and financial measures associated with COVID-19

11 May 2020

  • Non‐repayable and tax exempted subsidies to small and medium‐sized businesses (entities and individual entrepreneurs) in May and June ‐ in amount of minimum wage per employee
  • per month
  • For small and medium‐sized (SMEs) businesses ‐ half‐rate reduced insurance payments for the salaries exceeding the minimum wage
  • Expansion of soft loans at deducted rates and microcredit for SMEs • Interest‐free loans for salary payment for companies in affected sectors
  • Deferral until October for rental of state and commercial real estate for affected industries and 50% lowering for other kind of business.
  • Proprietors who have granted a deferral or reduction in rent receive a land tax and property tax exemption.
  • Extension of the deadlines for reporting to the Federal Tax Service to 3 months
  • Calculation of terms taking into account the days recognized by the act of the President as non‐working days
  • Moratorium on tax sanctions for non‐submission of documents, extension of terms for providing clarifications at the request of the tax authority, moratorium (suspension) of all
  • field inspections until June
  • Compensation of non‐refundable airfare rates to tour operators and refunding to citizen for
  • an annulated trip
  • 6‐month loan deferment for SMEs from affected sectors, special conditions for entrepreneurs
  • Credits subsidized by the Central Bank Rate to maintain working capital and maintain jobs • 6‐month bankruptcy moratorium for affected sectors and backbone enterprises
  • Ban on collection of tax debts for SMEs in affected sectors until May 30 inclusive
  • Deferral of payment of all taxes, except VAT, up to 6 months for SMEs from affected sectors
  • Tax breaks for affected industries up to 6 months, deferred payment up to 1 year, instalments up to 3 years, tax holidays (special tax deferral conditions) for backbone companies
  • The minimum base for calculating sick leave and unemployment benefit are set at no less than minimum wages
  • Tax‐free supplement to health workers
  • Additional monthly payments for children under 3 years
  • Credit holidays up to 6 months for a mortgage or consumer loan
  • Preferential mortgages in new buildings at a deducted rate

As the ‘affected industries’ named: all types of transport, travel industry, entertainment industry, cinema, museum and other culture, physical culture, health and fitness centres, food and lodging industry, fair, conference and exhibition activity, education, personal consumer services, dental practice, retail business (non‐food goods).As the ‘affected industries’ are named: all types of transport, travel industry, entertainment industry, cinema, museum and other culture entities, physical culture, health and fitness centres, public catering and lodging industry, fair, conference and exhibition activity, education, personal consumer services (repair shops, hairdressings and beauty salons, laundries etc.) , dental practice, retail business (non-food goods).

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