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Entrepreneurs in Yakutia will be exempted from taxes due to coronavirus
Small and medium-sized businesses in Yakutia will be temporarily exempted from a number of taxes and will receive a deferral of utility bills and lease of state property. The decree was signed by the head of the republic, Aisen Nikolaev.
For business in Yakutia, 19 specific measures were taken. They will operate for the duration of high alert due to the coronavirus to support entrepreneurs.
According to the head of the republic, now the enterprises of the sphere of hotel services, tourism, public catering suffer big losses. They, as well as small and medium-sized businesses involved in education, healthcare, culture, the entertainment industry, physical education and sports, and household services, will be reduced the tax rate for the simplified taxation system to 1% for the whole year, and the STS - up to 5% . Lost revenues to local budgets are compensated from the state treasury.
According to the press service of the government of the republic, enterprises providing hotel and restaurant services will also be exempt from property tax, and companies engaged in passenger bus transportation from the transport tax. Local governments were recommended to reduce the coefficient K2 to 0 for the tax regime of a single tax on imputed income and establish benefits for land tax.
For small and medium-sized businesses operating in trade and hospitality, the rent will be reduced to the actual costs of utilities. The head of Yakutia recommended to resource-supplying organizations not to introduce restrictions on the consumption of utilities and to provide entrepreneurs with a deferral of payments.
The Yakutia Small Business Development Fund will be allocated additional money to support the business, and the Fund's borrowers will be able to take advantage of the deferred payment. Also, the bankruptcy proceedings against small and medium-sized businesses are being suspended in the republic; until May 1, there will be no inspections, except for those initiated because of serious violations.
In addition, for the development of domestic tourism, the authorities will provide state and municipal property, as well as give subsidies to small and medium-sized businesses engaged in this field for the purchase of equipment.