Russia to Support Small Firms

Russia to Support Small Firms

A bill to support the small businesses and to ease the tax burden on them was brought in the Russia’s State Duma.

 

Upon approval, small companies will enjoy the tax exemption for the period of 2 years from their state registration, as well as the considerable reduction of the contribution rates. At the same time, the regional authorities will be able to limit the types of business to which these tax holidays shall apply.

 

The amendments are expected to enter into force from 1 January 2015.

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