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

Mar, 26 2020

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.

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