Russia extends tax holidays for virus-hit businesses for 3 mths

MOSCOW, Nov 12 (PRIME) -- The Russian government has prolonged tax holidays for businesses that were hurt by the coronavirus pandemic for three more months, Prime Minister Mikhail Mishustin said on Thursday during a government meeting.

“Under the president’s ruling, the government prolongs the tax holidays for businesses. This spring, small and medium-sized businesses and individual entrepreneurs from the sectors that suffered most (from the pandemic) received a delay of taxes and insurance payments for half a year,” he said.

“The situation is still difficult. Small and medium-sized businesses need additional support from the state to cut costs and recover. This is why we prolong this anti-crisis support for the companies and individual entrepreneurs from the affected sectors for three more months until the end of the year.”

Russia’s economic condition is still tough, entire industries as well as Russians and their families still need support, he said.

End %%md/jst%%