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Small and medium business exempt from insurance premiums

Prime Minister Mikhail Mishustin announced the granting of a delay in the payment of insurance premiums for small and medium-sized enterprises. In addition, they will receive a deferral of rent for premises owned by state and municipal property.

The specified delays are introduced for a period of three months and begin to operate from March 2020. This was said on Thursday at a government meeting.

The Prime Minister also reiterated the introduction of a moratorium on tax, customs and other field inspections, the introduction of soft loans for the affected industries, as well as a list of measures to support the tourism industry, including airlines and tour operators.

Earlier, a proposal to exempt small businesses from taxes was made by Boris Titov, authorized under the President of the Russian Federation for the Protection of Entrepreneurs’ Rights.