Bloomberg Tax
March 30, 2020, 5:00 AM

Russia President Announces Tax Measures Due to Coronavirus Pandemic

The Russian President’s Office March 25 announced tax measures due to the coronavirus pandemic. The announcement includes measures to: 1) grant a six-month payment deferral on all taxes except VAT, for small and medium enterprises (SMEs); 2) increase to 15 percent from 13 percent the income tax on interest and dividend payments to foreign entities and individuals; and 3) establish a 13 percent tax on interest income for total bank deposits or investments in debt securities exceeding 1 million rubles (US$12,794). [Russia, Russian Gazette, 03/25/20]

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