The Federal Tax Service of Russia explains the business anti-crisis measures

The need to support the area of business, which is in a very difficult situation, was identified along with other things. Assistance from the state will consist of the certain tax breaks, which, of course, indeed, it needs a detailed explanation.

A few days ago, the Federal Tax Service commented on the situation, answering the most frequently asked questions, the answers to which we provide below:

• Six-month tax deferral will be granted to companies and individuals who are in the register of small and medium-sized enterprises (SMEs) and are engaged in tourism, air travel, physical education and sports, art, culture and cinema. It is noteworthy that the type of activity should be the main one, and the ministers, who are supervising the activities of these entrepreneurs, will draw up relevant lists with beneficiaries.

• The tax authority independently suspends tax collections for the specified categories of business without any statement from the latter; the suspension of collection begins on March 25 and will be completed on May 1, respectively, penalties accrued before March 25, must be paid.

• Work on the granting a deferment of insurance contributions to social funds is currently underway at the legislative level, as soon as the amendments are adopted, there will be a more specific vision of the situation, as well as other possible tax benefits.