Vladimir Putin proposed a set of anti-crisis measures because of coronavirus

In regard to the spread of coronavirus in Russia, the head of state presented additional measures to support citizens and businesses during the crisis:

Extra weekend

– The week from March 28 to April 5 was officially declared non-working with the wage maintenance.

Business support

– Extend loans for businesses in sectors most affected by coronavirus;

– To provide small and medium-sized businesses a deferral of payment of all taxes (except VAT), as well as a deferral of payment of loans for six months;

– Introduce a moratorium on filing bankruptcy claims for companies affected by coronavirus, as well as on recovering debts and fines from such companies;

– For the long term reduce the size of insurance premiums from 30% to 15% for employees whose salary exceeds the minimum wage.

Citizen support

– Automatically extend all state benefits and privileges for citizens within 6 months;

– Provide a “vacation” on mortgage and personal loans to citizens whose income has decreased by more than 30%, without further penalties.

New in taxes

– Set a tax of 13% on the income of individuals from bank deposits and investments in debt securities, if the volume of such deposits exceeds one million rubles;

– Payment of income in the form of dividends that are transferred from Russia to offshore accounts -impose a 15% tax.

In this regard, double taxation avoidance agreements with a number of countries will be revised.

Also, the President announced the postponement of vote on constitutional amendments. A new date will be announced later.