UPDATE: Putin says Russia mulls rent, tax incentives to help small firms

(rewrites story)

MOSCOW REGION, Mar 26 (PRIME) -- The Russian government is considering real estate rent incentives and tax payment in installments after a grace period expires among other measures to rescue small business, President Vladimir Putin said at a meeting with business representatives on Thursday.

"We are fully aware, taking into account the fact that small and medium-sized business are in the worst position, having in mind all the negative phenomena in the economy accompanying these two issues," Putin said. "We are aware of what is happening. But the goal of today's meeting is to listen to you directly, listen to your proposals, ideas, estimates of what is happening. We will try to react as follows."

"There are things I did not talk about yesterday but which are extremely important for you and other businesspeople working in this sphere. One of them is rent. We understand this and are discussing this as well. The government is discussing various possibilities with the regions. The possibilities do exist in this aspect."

He added that reduction of the property tax is also possible.

The authorities are thinking about allowing companies to pay the taxes accrued during the epidemic in installments after a 6-month grace period on all taxes except value-added tax (VAT) epires. "I think there is good logic and we will consider it," he said.

Putin said that prolonging a moratorium on checks of small and medium-sized business was a good idea. He also said he saw no problem in extending small business guarantees in criminal proceedings to the self-employed people.

But the government will increase penalty for counterfeited pharmaceuticals, he said. "The corresponding government agency met the proposal to allow online drug sales with great suspicion. Nevertheless, I insisted, having in mind the situation in the sphere. I think we did everything right but will raise responsibility for counterfeiting," Putin said.

Putin said that the stricter the measures against the coronavirus are, the shorter time they will last.

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