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Wednesday, November 29, 2023

In Russia, tax holidays extended to the end of the year

Photo: Sergey Bulkin/NEWS.EN

The Russian government has decided to extend the deferral of payment of taxes for small and medium business before the end of 2020. This was reported by Prime Minister Mikhail Mishustin.

At the Cabinet meeting, he stressed that this decision was made on behalf of the President of Russia Vladimir Putin, and noted that the required regulation has already been signed.

This anti-crisis support to organizations and individual entrepreneurs from individual industries affected, we are extending for another three months, until the end of the year, — quotes Mishustina TASS.

Extension of “tax holidays” will affect companies operating in the fields of tourism, culture, hospitality, catering, entertainment and sports organizations, as well as organizers of conferences and exhibitions.

As recalled Mishustin, deferred taxes and insurance premiums were given for six months in the spring of this year, when the pandemic has just begun.

According to the Chairman of the government, the situation still remains complex and that small businesses were able to reduce costs and time to recover, he needs help from the state.

A program of additional business support in April due to pandemic coronavirus instructed to develop the Russian President. It should allow companies to preserve employment and income of employees. In addition, in early October it was reported that the Russian government will extend to self-employed all measures of state support currently provided to small and medium business in the framework of the state programme.

Wrote NEWS.ru previously, the state Duma adopted a law increasing the personal income tax rate on income of more than 5 million rubles.

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