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MIL OSI Translation. Region: Russian Federation –

17 November 2021, 07:03

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Photo by M. Denisov. Mos.ru

We are talking about organizations and individual entrepreneurs who have chosen a simplified scheme or patent taxation system.

In Moscow, revenues to the city budget from representatives of small and medium-sized businesses working in special tax regimes are increasing. So, for 10 months of 2021, organizations and individual entrepreneurs (IE) applying the simplified taxation system (STS) transferred 147.9 billion rubles to the budget. This is 41.6 percent more than in the same period of 2020, said the Deputy Mayor of Moscow for Economic Policy and Property and Land Relations. Vladimir Efimov.

“The simplified tax system is one of the most popular tax regimes used by small and medium-sized businesses. In the past year, the dynamics of tax revenues decreased due to restrictions at the height of the pandemic, as a result of which companies in a number of industries were forced to temporarily suspend operations. In addition, small and medium-sized businesses in the most affected industries last year received a deferral to pay tax for the first quarter of 2020 with the possibility of paying it in 2021 and were exempted from paying tax for the second quarter, ”the deputy mayor said.

In 2020, the city developed and implemented a whole range of anti-crisis support measures for small and medium-sized businesses, including rental benefits, subsidies, soft loans, and grants. Some of them were extended to 2021, and new ones were also adopted. Among them, compensation for the cost of purchasing personal protective equipment.

“As a result, the dynamics of tax revenues from the simplified tax system for 10 months of 2021 turned out to be 38.2 percent higher than in January-October of the pre-crisis year 2019, which indicates the restoration of the work of most branches of small business in Moscow,” added Vladimir Efimov.

Budget revenues are also growing from companies that have chosen the patent taxation system (PSN), which is especially in demand among individual entrepreneurs.

“For 10 months of this year, receipts from PSN reached 3.8 billion rubles, exceeding the indicators of the same period in 2020 by 11.1 percent and almost reaching the level of 2019. public services and leasing premises, “- said the Minister of the Moscow Government, head

Department of Economic Policy and City Development Kirill Purtov.

Last year, a federal law was adopted, which expanded the list of activities that allow the use of PSN. Such taxpayers are also given the right to reduce the amount of tax paid by the amount of insurance payments, voluntary personal insurance, sick leave costs. Thanks to all these measures, it is predicted that this tax regime will become more popular among entrepreneurs in the capital.

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

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