Russian President Vladimir Putin signed a law that frees from tax on income of individuals, insurance premiums and income tax part of the income of citizens and organizations, writes RIA Novosti. In particular, subsidies received by small and medium-sized businesses and socially oriented non-profit organizations (NPOs) in 2021 are exempt from income tax. The decision on benefits is associated with the struggle with the effects of a pandemic.
Also, the income of Russians, not exceeding one minimum wage (minimum wage, 12792 rubles), received during non-working days in October-November were released from NDFL and insurance premiums. Benefit concerns those who work in small and medium-sized enterprises and in NPOs receiving subsidies in connection with the pandemic.
In late October, Mikhail Mishustin Prime Minister said that almost 40 billion rubles will be allocated for one-time grants from a pandemic period of small businesses and social NPOs. According to him, we are talking about the amount of 38.5 billion rubles, the support was planned to provide approximately 3 million people. The prime minister also reported payments in the amount of one minimum wage for each employed in the specified sectors.