Moscow approves two-year tax holiday for business start-ups

White Square Office Centre Moscow

Moscow approves two-year tax holiday: The authorities in Moscow are to take advantage of  legislation introduced late year giving regions the right to set a zero tax rate for newly registered concerns between 2015 and 2020 and is introducing a two-year tax holiday to boost its small business sector.  Russia’s capital is also  to offer SMEs  preferential leasing terms. According to city officials, economic activity in Moscow remains “at a good level” despite the crisis, and the number of business registrations rose by 28,000 in 2014 – 4.5 times the Russian average. Overall, the city has  working population of 6.6m, 3.2m of whom are working in large organisations, and 3.4m in  the SME sector.

Source: Lenta