Putin announced the right to credit holidays for small businesses
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President Vladimir Putin said that small businesses will be able to take a six-month credit holiday every five years without deteriorating their credit history. The head of state also instructed work out an amnesty for small companies that split up their business.
“The temporary moratorium on business inspections has justified itself; from 2025 it is necessary to switch to a risk-oriented approach and minimize inspections,” Vladimir Putin said during his address to the Federal Assembly.
He added that there will be no fines or tax recalculations for small businesses. The tax regime for small and medium-sized manufacturing enterprises, according to him, should be relaxed.
As Vladimir Putin said, no one is allowed to illegally oppress businessmen, since they provide many citizens with jobs. He clarified that the fundamental requirement for Russian business is that it must operate in domestic jurisdiction and not withdraw funds to other countries.
Credit holidays were first introduced in 2020 amid the COVID-19 pandemic. They could be used by citizens and businesses in the event of a decrease in income by 30% or more. In April 2023, Vladimir Putin signed a law on credit holidays until December 31, 2023.
More details in the material “Holidays are running away from business”.
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