COVID-19: Russia to suspend tax for businesses

Last updated: 2021/07/20 at 3:49 PM

starconnect Published 20 July 2021

President Vladimir Putin

Admin l Tuesday, July 20, 2021

MOSCOW -The Russian Government may suspend taxes for business following a bill submitted to the Russian Duma for delibration.

The Bill seeks to suspend land and property taxes for the period of COVID-19 related restriction, the Russian news agency, Rapsi has reported.

The bill to amend Russian tax laws was submitted by Sergey Katasonov, First Deputy Chair of the State Duma Committee on Budgets and Taxes.

The bill will amend the Russian Tax Code to the effect that a zero rate of the property tax on organizations and individuals, as well as of the land tax in respect of objects used in entrepreneurial activity is to be established for the period when restrictive and other measures aimed at suspending (restricting) operations of certain enterprises located in respective regions of Russia.