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Small and medium-sized businesses will receive tax benefits in Kamchatka

Small and medium-sized businesses will receive tax benefits in Kamchatka
Photo: pixabay.com

Deputies of the Legislative Assembly of Kamchatka adopted a package of laws on tax benefits for small and medium-sized businesses in connection with the unfavorable economic situation due to the coronavirus. The most affected industries will be the first ones to benefit.

According to the press service of the Legislative Assembly, hotels, inns, hostels and catering were exempted from property tax in Kamchatka this year. Tourism companies were also exempted from the transport tax.

For enterprises from the most affected areas working on the patent tax system, they will significantly reduce the cost of the patent. The tax rates for enterprises operating under the simplified taxation system will decrease: from 6% to 3% on income, and from 10% to 7,5% for those working on the “income minus expenses” system.

The rate for particularly affected activities will be reduced from 10% to 5% and from 6 to 1%. Such enterprises include hotels and hostels, cinemas, advertising, travel industry, cultural sites, paid clinics, gyms, dry cleaners, beauty salons, and trade.

Acting Governor of the Kamchatka Territory Vladimir Solodov said that in May a second anti-crisis package of laws will be introduced. According to him, they want to provide benefits for housing and communal services and construction, as well as for rental payments for real estate.

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