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.