All news

Putin proposes tax defferals for SMEs except VAT for six months

SMEs, as well as microenterprises, which find themselves in the most difficult situation, should receive loan deferments from banks for the next six months, Putin said

NOVO-OGAREVO, March 25. /TASS/. Russian President Vladimir Putin proposes tax defferals for small and medium-sized businesses (SMEs), except VAT for six months.

"I consider it necessary to provide tax deferrals for all taxes for small and medium-sized businesses, with the exception of VAT, for the next 6 months. In addition to such deferrals, a deferment on insurance contributions to social funds should be given to micro-enterprises," he said on Wednesday during his televised address to the.nation over coronavirus spread.

SMEs, as well as microenterprises, which find themselves in the most difficult situation, should receive loan deferments from banks for the next six months, Putin said .

"As for bank loans, small and medium-sized companies, microenterprises, which find themselves in a difficult situation, should receive loans deferments for the next 6 months," he said. According to him, small and medium-sized enterprises now face objective difficulties - decline in orders and in revenue. He noted that such companies need help to continue their activities, and therefore to keep their employees.

 All the social benefits and allowances of individuals will be extended tacitly during coming six months, without submission of references, he said.

"All the social allowances and benefits due to citizens must be renewed automatically during six coming months, without submission of any further references and visits to authorities," Putin said.