Bloomberg Tax
March 29, 2020, 5:15 PM

Russia to Offer Tax Exemptions for Virus-Hit Industries

Sergei Blagov
Sergei Blagov
Freelance Correspondent

Russian President Vladimir Putin ordered the government to compile a list of the sectors hit by the new coronavirus outbreak that should receive tax exemptions.

Those sectors will be exempt from most taxes for six months, according to an order published Sunday. Businesses would still have to pay value-added tax.

  • The order also sets a Dec. 25 deadline for the country to revise its international treaties to allow for a 15% tax on interest and dividend payments to offshore jurisdictions.
  • Putin first announced that tax increase during a March 25 address.

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