The new rules for forming the register of SMEs will help entrepreneurs

On 7 November, Federal Law No. 349-FZ dated 27 October 2020 came into force, which amended the legislation on developing SMEs.

The new developments concern the procedure for forming the Unified Register of SMEs. Now it will be easier for entrepreneurs excluded from the register owing to their mistakes to retrieve their lost status. 

Information in the register will be renewed monthly (on the 10th day of each month) rather than annually. The exclusion will take place once a year, as before, but on 10 July.

In the period between January and June data is included in the register based on the information available to the Federal Tax Service which relates to the year before the previous one, and in the period between July and December, data is included based on the information which relates to the previous year. The tax authority will be able to take account of such information within a month after the company files the reports.

Unscheduled amendments have already been made to the register this year with the view to supporting entrepreneurs from affected industries and these measures have proved to be effective. 

The new developments will allow for measures of state support to be obtained not only by active, but also by new SMEs and individual entrepreneurs. 

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