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24 February, Friday

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Vladimir Putin has supported small business with amendments to the Tax Code

Politics

UFA, 30 December 2014. /Bashinform News Agency, Galiya Nabieva/.

The amendments aimed at supporting small businesses are made to the Tax Code. The relevant federal law was signed by the President of Russia Vladimir Putin, kremlin.ru reports.

The document is aimed at supporting small businesses. In particular, regions of Russia have the right to set for taxpayers first registered as individual entrepreneurs and using the simplified taxation system or patent taxation system, the taxes at a rate of 0 percent.

Taxpayers may apply zero percent rates for two tax periods.

The subjects of the Russian Federation shall have the right to set limits on the use of preferential tax rates, including in the form of limits on the amount of income of individual entrepreneurs and the average number of employees.

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