The President of the Russian Federation in an emergency address to the Russians on 25.03.2020 announced a number of extent oriented at limiting transmission of the Coronavirus for the purpose of sanitary and epidemiological welfare of the population, as well as a package of measures to support businesses and the population.
These measures include, in particular, the announcement of days from 30.03.2020 to 30.04.2020 as non-working days with full pay and measures to support businesses by providing deferred tax payments and reducing premium rates.
In addition, the President of the Russian Federation announced an increase in the income tax rate on income in the form of interest and dividends earned, withdrawals to offshore jurisdictions, and interest income on deposits and securities. Additional budget revenues received from the latest measures will be used for social benefits (for families with children, the unemployed and the sick people).
News “Difficult” decisions: increasing income tax rates
First. There is an increase up to 15% of the “unfair” tax rates on income in the form of interest and dividends going from Russia abroad to offshore jurisdictions named by…
How will be provide deferred payments of taxes and premium rates changed?
We recall that, in accordance with the current edition of The Tax Code of the Russian Federation, the Legislation of the Russian Federation about taxes and…
Which organizations can expect these tax preferences?
According to the address of the President of the Russian Federation, support should be provided to small and medium-sized businesses and microenterprises.