Russia provides tax support for small and medium business

Russian Prime Minister Mr Mishustin announced tax support measures for companies using simplified tax regime.

A simplified tax regime allows to pay 6% income tax (applicable to all revenues) or 15% income tax (applicable to net profit), but only if a company has less than 150 million rubles of annual income and less than 100 employees.

According to the draft law proposed by Russian Government, a company may still use the simplified tax regime in 2021 even if the annual income and employees’ thresholds were exceeded in 2020.