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Decrease of insurance payments from 30 to 15%

by | Apr 15, 2020 | Blog, M&S Updates

One of the measures related to the COVID-19 pandemic announced by President of the Russian Federation in his address to the nation made on March 25, 2020 with regard to social-economic support for citizens, small and medium enterprises is the twofold decrease of insurance payments. This measure is introduced by Federal law dated April 1, 2020 No 102-FZ.

Starting from April 1, 2020 a decreased rate of insurance payments for individuals exceeding the minimum wage amount has been introduced for small and medium enterprises. Such rate will be 15% and is calculated as follows:

10% – for obligatory pension insurance;

5% – for obligatory medical insurance (See part 1 of Article 5, Article 6 of Federal law No 102-FZ).

This measure is permanent and will also be applicable after 2020 (See point 9 of Article 2 of Federal law No 102-FZ).

Besides, a grace period for small and medium enterprises has been introduced with regard to all taxes other than VAT.

According to Article 4 of Federal law dated July 24, 2007 No 209-FZ “On development of small and medium enterprises in the Russian Federation” small enterprises are those with under 100 employees and annual revenue up to 800 million rubles, medium enterprises are those with up to 250 employees and annual revenue not exceeding 2 billion rubles.