Central regions | Finance, business

Russia unveils SME support package in growing COVID-19 crisis

7 Apr '20
The Russian Government has published plans to grant various deferments on tax payments to small and medium-sized enterprises (SMEs) and individual entrepreneurs listed on the Government SME Register and operating in the sectors most adversely impacted by the spread of COVID-19.

SMEs and individual entrepreneurs in those sectors are granted a six-month deferment on paying taxes (except for VAT, taxes for self-employment, and taxes paid as a tax agent), and on advance tax payments for March and Q1. The income tax deferment for individual entrepreneurs will be for three months.

Yesterday the Government decreed to institute a moratorium on tax inspections and a cancellation of liability for violations and failure to provide information requested by tax authorities until May 31. Various tax declaration deadlines have also been pushed back.
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Tags: government (60) / COVID 19 (18) / small and medium sized enterprises (1) / tax inspections (0) / moratorium (0) / deferment (0) /

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