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01.04.2020
Article
Economy supporting measures by the President
The President of Russia have proposed the package of measures to overcome COVID-19 consequences.
The following measures are to support economy and business:
| Measure | Target |
| Deferral of payments on all taxes except VAT up to 6 months. | Small, medium-sized and microenterprises |
| Deferral of payments on insurance premiums to social funds up to 6 months. | Microenterprises |
| Permanent reduction of insurance premiums rate from 30% to 15% for salaries in excess of the minimum wage. In case of maintaining a salary of less than the minimum wage, the insurance premiums rate remains at 30%. | Small and medium-sized enterprises |
| Deferral of payment on loans up to 6 months. | Small, medium-sized and microenterprises |
| Providing state guarantees and subsidies. | Enterprises of the real sector of economy |
| Moratorium on filing creditors' applications for bankruptcy of companies and collection of debts and fines within 6 months. | Companies in sectors most affected by the epidemic |
| Taxation of 13% of income (interest on investments) on bank deposits and investments with a total amount exceeding 1 million RUB. | Citizens of Russia |
| Increase of tax rate up to 15% on incomes transferred to foreign accounts. Adjustment of double taxation agreements with foreign countries. Russia's unilateral withdrawal from agreements, in case of disagreement of foreign partners with such a proposal. |
|
| Monitoring of the situation by the Government of the Russian Federation in order to determine the need to expand and adjust the list of industries in need of support. | |
In addition, the Government of the Russian Federation is considering the possibility of implementing a collateral-free lending to small businesses through Sberbank and VTB with subsidized rates of up to 0%. This measure involves the repayment of borrowed funds within 6 months.