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Newly created small and medium business objects will be exempted from paying taxes in 2020.
The State Duma of the Russian Federation adopted in the second reading the norms that allow to exempt newly created small and medium business from taxes in 2020 year in connection with the coronavirus pandemic. The relevant norms were formalized as amendments to law draft No. 987383-7 “On amendments to Art. 146 h. II of the Tax Code of the Russian Federation (in order to clarify transactions that are not subject to VAT taxation with business activities by debtors and being recognized as bankrupts)".
