COVID-19: Russia lists mass media in sectors badly hit needing support

MOSCOW, Russia- The Russian Government has listed the mass media in economic sectors badly hit by the Coronavirus pandemic eligible for support envisaged by the state.

Listed in the resolution signed by Chairman, Mikhail Mishustin are book publishers, newspapers, magazines, periodicals, TV and radio broadcasters, online media outlets and news agencies.

Mishustin reminded the Russian mass media to continue their work in spite of the infection outbreak and restrictions introduced to combat COVID-19. 

According to him, the role of mass media in the current situation is especially important as they provide actual and true information to the people.

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The anticipated support include a 6-month postponement of all taxes (excluding VAT), as well as rent payments for properties owned by the state, municipalities, or individuals; interest-free loans for immediate needs and payment of wages and salaries; cheap credits at 2% for any aims; moratoriums on bankruptcy, as well as planned and surprise inspections.

Also, representatives of small and medium-sized mass media businesses operating in the affected industries are eligible for postponement of insurance contributions, which may be cut by two on condition the wages and salaries of the employees exceed their minimal level; restructuring of payments accrued over the postponement period.

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The affected mass media sectors are also entitled to direct financial aid in the form of subsidies (grants) provided to SME may be spent for salaries, repayment of debts related to utility services. 

Besides,  companies having technical debts in terms of  taxes and insurance contributions may seek subsidies if their respective indebtedness is at or below 3,000 rubles (about $42 at the current exchange rate), according to the press service of the government.