The amount of tax benefits for Moscow business will exceed 170 billion rubles in 2020. 

      The total amount of tax benefits for Moscow business introduced before the start of the coronavirus epidemic will amount to 106 billion rubles in 2020, the website of the mayor of Moscow reports. The city authorities intend to keep all the benefits accepted before the epidemic. Together with the approved anti-crisis measures, the total amount of business support will exceed 170 billion rubles.

      “The Moscow government has adopted three packages of anti-crisis measures, under which the amount of financial support for the capital’s business, suffering from restrictive measures introduced in connection with the coronavirus epidemic, will amount to more than 70 billion rubles. These measures will complement the existing system of benefits and preferences and will allow Moscow business to further reduce costs, which is especially important in such a difficult time for the economy,” Vladimir Efimov, Deputy Mayor in the Government of Moscow on Economic Policy and Property and Land Relations, said. Among the support measures for business are privileges on property taxes, profits, transport, etc.

      Anti-crisis measures taken by the Moscow authorities will affect 21 thousand companies. It is noted that work is currently ongoing on the next package of measures to support business in times of crisis.