Page 43 - RusRPTMar21

4.3.2 Corporate profits dynamics
The Russian government is discussing additional measures to help companies retain employees, citing materials from a meeting headed by Deputy Prime Minister Andrey Belousov on February 15. According to expert estimates reported by Izvestia, the package could cost around RUB150-200bn, and the measures could include: Restarting the subsidized payroll loan program (at 0% p.a.), i.e. the size of the loan is derived from one minimum wage per worker, per month.
Decreasing subsidized lending 2-3ppts at the expense of subsidies to banks. This lending would be conditional on companies retaining 90% of their staff by December 2021.
Forgiving tax arrears for SMEs in the most affected sectors and in those that have recovered the least.
Fixing the cadastral value of offices, retail facilities, and catering and consumer services at the 2020 level.
Implementing a transitional tax system for companies that have lost the ability to pay taxes under the simplified system but are experiencing difficulties transitioning to the general tax system.
Russia’s Ministry of Finance, Ministry of Economic Development and Federal
43 RUSSIA Country Report March 2021 www.intellinews.com