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Business support measures expanded in Magadan region

Business support measures expanded in Magadan region
Photo: pixabay.com

The Regional Duma of the Magadan Region has expanded support measures for entrepreneurs affected by the coronavirus. The exemptions concern tax rates.

According to the press service of the Duma, the first package of measures to support businessmen was adopted in April this year. Then the affected industries were reduced taxes on income to 5% and 2% (depending on the tax system), and for companies in the tourism industry - to 1%. 

The regional list of the industries most affected by the pandemic includes enterprises from the field of public transport, taxis, catering, culture, sports and additional education. Now, parliamentarians have adopted a law exempting companies operating in the field of freight and passenger transportation from paying transport tax in 2020.

Also, for restaurants and cafes, landlords can lower rental rates, and they, in turn, will be provided with benefits for paying property tax. For museums, rates of 2% or 5% will also apply, as for other industries affected by the coronavirus.

September 21: current information on coronavirus in the Far East
Digest of regional events and latest statistics