Russia: Government Support Measures Aimed at Minimizing the Negative Economic Consequences of the Spread of Coronavirus

Amid the coronavirus pandemic, the economy is undergoing big changes. In order to minimize the negative consequences of these changes, the state is resorting to various support measures, the number of which is growing every day. GRATA International Rostov-on-Don has summarized government support measures and made a selection of the most important and significant measures.

TAXES AND FEES

Deferment of tax payments for SMEs from the most affected sectors of the economy from 3 to 6 months

The Government of the Russian Federation has extended the deadlines for payment of tax payments for organizations and individual entrepreneurs included as of March 1, 2020 in the Unified Register of SMEs and operating in the most affected sectors of the economy.

According to the Decree of the Government of the Russian Federation dated April 2, 2020 No. 409 “On measures to ensure sustainable development of the economy” (hereinafter referred to as Decree No. 409), the payment deadlines have been extended:

• corporate income tax, unified agricultural tax, tax under the simplified taxation system for 2019 - for 6 months;
• personal income tax for 2019, paid by individual entrepreneurs - for 3 months;
• taxes and advance payments for taxes for March and the first quarter of 2020 - for 6 months, for April - June, for the second quarter and the first half of 2020 - for 4 months;
• tax paid in connection with the use of the patent taxation system, the payment deadline for which falls on the second quarter of 2020 - for 4 months;
• if the laws of the constituent entities of the Russian Federation, regulatory legal acts of representative bodies of municipalities provide for the payment of advance payments for transport tax, corporate property tax and land tax, these advance payments for the first quarter of 2020 are due no later than October 30, 2020, for the second quarter of 2020 - no later than December 30, 2020.

Continue reading →

GRATA International in Rostov-on-Don, Russia