Russian govt extending grace period for number of enterprises to remit payments for insurance premiums - Mishustin

MOSCOW. Jan 23 (Interfax) - The Russian government is extending the grace period for the payment of insurance premiums by enterprises engaged in a number of activities, including healthcare, culture, and tourism, which have already taken advantage of the grace period; and premiums for the second quarter of 2022 can be paid by May 28, 2024, Prime Minister Mikhail Mishustin said at a meeting with deputy prime ministers.

"For those who have already taken advantage of the government assistance, the government is extending the deferments for the second quarter of 2022 for certain enterprises in healthcare, science, culture, tourism, sport, food production, textiles, and other important areas for households. This will affect 70 types of activities overall. While these organizations were required to remit payments before the end of April this year, they are now permitted to do so by at least May 28, 2024," Mishustin said.

"Individual entrepreneurs engaged in these sectors of the economy have received deferments on contributions accrued for 2021, on the part of income that exceeds 300,000 rubles. Payments for them have also been postponed until May 1 next year," the prime minister noted.

Mishustin also said that companies in 30 areas of activity would have to pay insurance premiums for the third quarter of 2022 by May 28, 2024, including those that produce medicines, and those that operate in agriculture, construction, and telecommunications.

"The decision will enable businesses to continue to use the freed-up resources for current expenses, primarily to pay employees' salaries, as well as to develop and upgrade production, and to restructure logistics," Mishustin explained.