The Guidelines for Expansion and Implementation of Support Measures for the Business Amid the Pandemic in Terms of Reduction of the Tax Burden on Labor (Insurance Payments) for Small and Midsized Businesses

For economic support of small and mid-sized businesses amid the pandemic, some mechanisms as regards insurance contributions have been introduced: it was declared about the extension of the deadline for payments, provision of deferrals and options to pay by installments and reduced rates. We advise to bolster these measures by means of introduction of short-term “tax holiday” for the worst- hit small and mid-sized businesses (SMB) and reduction of the rates of insurance contributions regardless of the size of wages in relation to the minimum monthly wage amount (MMWA)