“Сompanies will come to a massive shutdown without business support”. The expert on tax deferral

“Сompanies will come to a massive shutdown without business support”. The expert on tax deferral

In many countries business is affected by coronavirus and quarantine measures, and now the governments are developing various measures to support companies. These are mostly credit and tax breaks, which intend to preserve the solvency of business during the pandemic. Deferred tax payments are precisely what these measures address.

It should be taken into account that the Russian Tax Code provides for the possibility of installment payments with interest, but in this case there will be no additional charges, so the budget losses may exceed 200 billion rubles. Nevertheless, this is a reasonable measure, as mass business shutdowns may occur without business support, which will result in even greater losses to the budget and a significant impact on the Russian economy.

To find the full text of the article you can Federal Press

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Mikhail Begunov

Major specialisations

Pharmaceuticals, FMCG, Information technology, Manufacturing companies

Member of the Chamber of Tax Consultants, Lawyer at the Moscow Chamber of Advocates

Biography