Official says Russian government to mull '20 loss postponement

MOSCOW, Jun 15 (PRIME) -- The Russian government can discuss removing the restriction on taxable base reduction by losses for previous periods for 2020, First Deputy Prime Minister Andrei Belousov said at a meeting of the Russian Union of Industrialists and Entrepreneurs on June 12.

Under the current legislation, the taxable base for a tax period can be cut by no more than 50% of the loss for previous periods.

"There was an idea during a meeting with Business Russia as well that let's permit postponement of the losses for future periods from at least 2020. This is possible, let's do this. I have asked the Finance Ministry to assess the income shortfall from this act to understand the amount," Belousov said.

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