Russian airlines, tour operators will get tax breaks and protection from bankruptcy

Prime Minister of the Russian Federation Mikhail Mishustin gave instructions to facilitate the provisions of the companies affected by the coronavirus, first of all, this is a company of tourism and transportation.

Mishustin gave instructions for deferment of payment of taxes and insurance premiums for “taxpayers relating to the sectors of tourism and air transport”, as well as instructions “for a moratorium on filing for bankruptcy”.

the Government recommends before may 1 to start the procedure of bankruptcy of companies affected by the coronavirus.

Mishustin instructed the FTS to provide deferred (tax holidays) on payment of taxes, insurance premiums until may 1, 2020.

the Russian airlines and tour operators were in a difficult position because of the quarantine between the countries: the flows of passengers and tourists nearly eliminated.