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The Russian Government’s Resolution No. 651 “On measures of support for systemic companies” (“Resolution No. 651”) was adopted and published on 10 May 2020 approving the Rules for selecting companies included in the lists of systemic companies of the Russian economy that are eligible to receive state support measures in 2020 (the “Rules”).
The Rules stipulate an opportunity to receive support in the form of subsidies[1], a deferral (an instalment plan) with respect to taxes and advance tax payments[2], Russian state guarantees with respect to loans or bonded loans that systemic companies attract within the scope of measures aimed at ensuring a sustainable economy[3].
The Rules establish criteria which systemic companies must meet to receive measures of support:
Moreover, when it applies for measures of support, a systemic company must submit the following information:
The Rules establish the procedure for filing and handing applications, the procedure for adopting a decision as to whether measures of support should be granted and for monitoring compliance with such procedures.[4] The information regarding decisions on granting support measures to systemic companies will be registered in the register of the Russian Ministry for Economic Development.
[1] The Russian Government must further approve the Rules for granting the subsidies
[2] As provided for by the Russian Government’s Resolution No. 409 dated 2 April 2020 (as amended on 24 April 2020)
[3] The Russian Government's Resolution No. 549 dated 10 May 2017
[4] Further, by 15 May 2020, the Russian Ministry for Economic Development will approve the procedure for handling applications of systemic companies for the grant of state support measures.