Moscow has approved the first package of measures for anti-crisis support of businesses affected by the decline in business activity and introduction of restrictive measures in connection with the spread of coronavirus. Among the measures announced are the following:
- The deadline for advance payments for the first quarter of 2020 for property tax and land tax will be delayed until December 31, 2020 (inclusive) for organizations working in the field of catering, tourism, culture, sports, leisure and hotel business.
- The deadline for paying the trade levie will be extended until December 31, 2020.
- Organizations renting land plots and non-residential facilities from Moscow which have suspended their activities during the period of high alert in the capital will be exempted from paying rent (during temporary suspension of activities). This applies to organizations engaged in culture, physical culture and sport, exhibition, entertainment, and educational activities.
- Companies working in the sphere of hotel services, public catering and tourism, and renting land plots and non-residential facilities from the city will be granted a grace period for April, May, and June. It will be valid until December 31, 2020. Similar deferral will be granted to city enterprises and institutions leasing land plots and non-residential facilities.
- There will be a 50 per cent reduction in contract fees for trade activities in non-stationary shopping facilities located at subway crossings and lobbies. Measure has been introduced for small and medium-sized businesses for the period of the city’s high readiness regime.
The last three measures will be provided on the basis of requests of organizations and individual entrepreneurs.
It should be noted that the majority of the announced measures will require amendments to the current legislation. The deadlines for the adoption of the regulatory acts have not been reported.
SCHNEIDER GROUP is not only actively monitoring the situation, but also taking part in the discussion of proposals in this area from the business side. We will continue to inform you about any news in this area.
The employees of SCHNEIDER GROUP’S Tax practice are ready to consult you on the application and implementation of measures aimed at supporting the economy in conditions of coronavirus infection spread.