First set of anti-crisis measures in response to sanctions
On 9 March 2022 President signed a set of federal laws on measures to stabilize the financial and economic situation and measures to support individuals and businesses in response to sanctions (“anti-crisis laws”), including:
- on granting the Government the authority to defer payments of taxes and insurance contributions;
- on “repayment holidays” for individuals and SMEs until October 2022;
- on amendments to the Russian Budget Code aimed at effective management of the public debt structure and ensuring financial stability;
- on the procedure for instituting criminal proceedings for tax crimes;
- on administrative liability for knowingly performed money laundering transactions and operations.
Please, look up the details in the KPMG Review provided below.