The Moscow authorities are helping companies to regain investments, receive easy term loans, lower rent plus delay payments. The city has promptly coordinated with businesses and approved three packages of municipal support measures for companies hard-hit by the pandemic.
Approximately 70 measures have been approved that will assist businesses and city residents.
The first package was adopted on 24 March to delay the payment of sales and other taxes by public catering, travel, culture, sports and entertainment companies as well as hotels. Rent deferrals were approved for the companies that rent municipal property and had to close their businesses due to the pandemic.
The second package adopted on 31 March extended the list of companies that have been granted sales and other tax deferrals and rental deferral for the second quarter. Subsidies were approved for small and medium-sized companies, exporters and franchisees, as well as easy taxes for startups.
The third package of support measures, approved on 15 April, expanded loan support and the assistance to developers, hotels, cinemas, supplementary education facilities, health centres, social entrepreneurs and small businesses that plan to buy out the rented municipal property.
Support measures have been approved for businesses that are renting property in private malls and office buildings. The Moscow Government has lifted property taxes and land payments from those property owners in the trade, services, public catering and hotel industries who agree to lower rent by at least 50 percent (the decrease must be at least twice as large as the sum of the tax reimbursement). In this way, the city has simultaneously supported rental businesses and companies that have rented premises for hotels, offices and shops.
As of 5 March 2020 and until the emergency regime is lifted companies can defer payments under trading contracts at non-permanent retail facilities located in recreation parks, museum estates and open-air museums, the Moscow Zoo and other similar places.
The anti-crisis measures have directly helped nearly 35,000 companies with over 765,000 personnel.