The Russian President has signed the law amending part two of the Russian Tax Code. Entities that spend funds on purchasing personal protective equipment for employees will obtain preferences in the form of a reduced profit tax base.
The members of the Russian State Duma will submit to the Russian Government a new version of the food sharing law before July. The maximum volume of food products will be determined that producers and retailers will be able to provide for charitable purposes without taxation, and this will be 15-30% of the overall turnover.
From 1 April, Russian banks will be obliged to report to the tax authorities whether their clients have funds and about the movement of such funds on the accounts with which electronic wallets are associated.
For information about the legal consequences of the spread of the coronavirus and practical recommendations on how to organise business processes in the new conditions, please refer to Pepeliaev Group’s lawyers on the firm's website.