Russian media outlets to get government support

Media and printing are listed among Russian industries worst hit by the deterioration of the situation due to the spread of the coronavirus. A resolution to this effect was signed by Prime Minister Mikhail Mishustin. Publishers of books, newspapers, magazines, periodicals as well as TV companies and radio stations, online media and news agencies are entitled to the support \offered by the Government to affected industries. Newspaper printing is also included in the list.

Russian media outlets continue operating under coronavirus conditions and epidemic-related restrictions. Meanwhile, the media industry faces a complicated situation: revenues from selling books, printed media and from subscription are shrinking, advertising incomes are tanking. Small companies and organizations in the regions are particularly affected. Most of them are SMEs. The Government has received numerous messages from citizens, associations and state bodies with requests to render additional assistance to the industry.

Among the support measures Russian media outlets are entitled to is a six-month tax deferral (except for VAT) as well as deferrals on rent payments for premises owned by the government, municipalities or private individuals, and are eligible for interest-free loans on urgent needs and wages, 2% soft loans for any purpose, and a moratorium on bankruptcy and scheduled and surprise inspections.

In addition, small and medium-sized enterprises may defer social security payments (and halve them if the employees’ wages exceed the minimum wage), restructure tax payments and make equal monthly installments throughout one year on insurance premiums that have accrued during the deferral period.

Also, they will receive direct financial support in the form of subsidies (grants) to be paid on wages and utility bills. The money will be allocated in the amount of one minimum wage per employee. Companies, which due to various reasons have a technical debt on taxes and insurance premiums, can apply for a subsidy if the debt does not exceed RUR 3K ($42).

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