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Coronavirus pandemic

Putin supports moratorium on scheduled inspections of SMEs

The relevant proposal was made at the meeting of the head of state with the Russian business community on Thursday

© Alexei Druzhinin/Russian Presidential Press and Information Office/TASS

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Putin proposes tax deferrals for SMEs except VAT for six months

NOVO-OGAREVO, March 26. /TASS/. Russian President Vladimir Putin supported an idea of a moratorium on scheduled inspections of small and medium enterprises, effective until 2020 year-end so far. The relevant proposal was made at the meeting of the head of state with the Russian business community on Thursday.

"[Extension] of the moratorium is a good idea; quite in demand in this situation," Putin said, vowing that the authorities would be at pains to implement the proposal.

"We have already taken the decision and limit various inspections in the current situation, bearing in mind that the business faces fairly huge problems even without that," the president informed, adding that this does not cover activities related to life and health of citizens.

Tax reductions

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The Russian government in cooperation with regions is considering an opportunity of reducing property taxes for the business, the president told the meeting.

"Leasing is important. We pretty well understand this and are holding discussions now. The government is working out different options in cooperation with regions to have property taxes reduced and be able to support trading enterprises," the president stated.

Businessmen have already been provided with benefits against the pandemic spread, which led to lower demand for their products and services. The Russian president suggested in his televised address on Wednesday extending a deferral on all taxes, except VAT, setting a bankruptcy moratorium for six months and reducing the rate of social contributions.

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