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February 13, 2022, 09:03

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This is almost 40 percent more than in 2020.

In 2021, organizations and individual entrepreneurs in Moscow using the simplified taxation system (STS) transferred 157.2 billion rubles to the city budget. This is 39 percent more than a year earlier, and by the same amount compared to 2019, said the Deputy Moscow Mayor for Economic Policy and Property and Land Relations Vladimir Efimov.

“The simplified taxation system is one of the most popular tax regimes for small and medium-sized businesses. In 2020, despite the pandemic, revenues from this type of tax remained at the pre-crisis level, and already in 2021, their growth resumed. In many ways, the recovery of companies was facilitated by a set of anti-crisis support measures adopted by the Moscow Government since the beginning of the pandemic. It includes rental incentives, subsidies, soft loans, grants. Some measures continue to work today,” the deputy mayor said.

Revenues to the budget are also growing from the application of the patent taxation system (PSN). This is a special tax regime popular among individual entrepreneurs.

“In 2021, revenues from PSN reached 5.7 billion rubles, which is four percent more than in 2020 and the same percentage less than in 2019,” said the Minister of the Government of Moscow, Head

Department of Economic Policy and Development of the Capital Kirill Purtov.

In Moscow, PSN is most actively used by individual entrepreneurs working in the field of retail trade, transportation, personal services and leasing premises, Kirill Purtov added.

Since 2021, changes have come into force that make the patent taxation system even more in demand among entrepreneurs. Taxpayers have been granted the right to reduce the amount of tax paid by the amount of insurance payments, voluntary personal insurance, sick leave expenses, the Department of Economic Policy and Development notes.

More information about the economic policy and property and land relations of Moscow can be obtained at site.

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

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