Russian PM doubles revenue criterion for small, middle companies

MOSCOW, Jul 16 (PRIME) -- Russian Prime Minister Dmitry Medvedev signed a ruling to double the revenue criterion for small and medium enterprises on Thursday, he said at a meeting with the government.

“Another ruling, it is connected with small and middle business. We, as is known, have decided to increase norms of maximum revenues for legal entities and self-employed entrepreneurs, in compliance with which they can be classified as small and middle-sized business,” he said.

According to the document, micro businesses’ maximum revenue was set at 120 million rubles annually, small companies’ revenue ceiling was set at 800 million and middle companies’ maximum revenue at 2 billion rubles, which will make more Russian companies eligible for advantages of small and medium business.

(56.6642 rubles – U.S. $1)

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