Russian Government Gets New Powers to Grant Tax Relief

The Russian government now has expanded powers to provide tax relief to individuals and businesses to soften the impact of the coronavirus.

• A bill signed into law by President Vladimir Putin Wednesday allows the government to extend deadlines for filing tax returns and paying fines.
• The government also has powers to cancel or suspend tax audits under Federal law No 102-FZ, according to a presidential press statement.
• The law also stipulates reduced rates of insurance premiums for mandatory pension, social, and medical insurance for small and medium-sized businesses from April 1.