Daily Tax Report: International

Russia Extends Tax Filing Deadlines for Sectors Hit By Covid-19

April 6, 2020, 5:52 PM

Russia is extending deadlines for filing tax returns and temporarily suspending tax audits for economic sectors hit hardest by the coronavirus outbreak.

The government’s Decree No 409, published Monday, pushes payment deadlines for corporate profit, property, land, and transportation taxes by six months to Oct. 30.

Tax audits are also suspended until June 1, the government said in a statement.

The deadline for filing tax information for the purposes of the international Automatic Exchange of Information was also extended by three months.

Earlier this month, a new law expanded tax-related powers of the federal government in 2020. Effective from April 1, the law allowed the government to extend tax filing deadlines and cancel or suspend tax audits.

Russian President Vladimir Putin on March 29 ordered the government to compile a list of the sectors worst hit by the coronavirus that should receive tax exemptions. This list now includes the transportation sector, notably airlines, as well as hospitality, tourism, entertainment, and sports among other sectors.

The list was approved by the government’s Decree No 434, published Monday.

To contact the reporter on this story: Sergei Blagov in Moscow at correspondents@bloomberglaw.com

To contact the editors responsible for this story: Meg Shreve at mshreve@bloombergtax.com; Vandana Mathur at vmathur@bloombergtax.com

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