The COVID-19 pandemic has become a real stress test for both the global and Russian economy. To overcome the consequences of the pandemic, a number of countries are using different instruments to support their economies, including tax levers. A significant proportion of companies have experienced an abrupt fall in demand for their services, and as a result, a decrease in profits. As such, flexible management of tax liabilities has become one of the most important challenges firms are facing.
Russia is no exception, and when the crisis hit, the government promptly drafted a large number of anti-crisis instruments, including tax measures.
KPMG conducted this survey of big business leaders in order to find out which specific support measures in the tax sector Russian taxpayers have managed to use during the pandemic, the extent to which they have been effective, and the instruments that could be used in future.