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March 16, 2021, 18:35

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Photo by M. Mishin. Press Service of the Mayor and the Moscow Government

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The procedure for providing financial support to exporting companies will be simplified. The corresponding decree was signed Sergei Sobyanin

In 2020, an export cashback was introduced for metropolitan companies – a grant in the amount of 10 percent of proceeds from export contracts, but not more than 10 million rubles and 50 percent of the amount of taxes paid to the budget of the city of Moscow. During the period of this support measure, 153 applications were approved for a total amount of 380 million rubles.

Until recently, the condition for obtaining an export cashback was the existence of an executed (closed) export contract for at least six million rubles, which was deregistered by the credit institution no earlier than the last two years. Exporters’ applications were accepted in traditional paper form.

At the suggestion of the business community, the following decisions were made:

– transfer the submission of applications for financial support to exporters in electronic form (via the portal);

– provide the opportunity to receive export cashback under long-term contracts, obligations under which are of a continuous nature (for example, provide for regular deliveries of products), until they are fully fulfilled.

These innovations will significantly simplify the procedure for providing export cashback, as well as expand the range of recipients of this measure to support small and medium-sized businesses.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

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