The Russian government has introduced non-repayable grants for establishments that operate under restrictions due to covid-19, they will be able to use them to pay salaries to employees and support employment, the country's Economic Development Ministry has said.

"We propose to provide short-term non-reimbursable grants to small and medium enterprises (SMEs) whose operations may be suspended due to temporary regional restrictions. Depending on the situation on the ground, these could be enterprises from the cultural and recreation industry, catering, trade, hotel business, transport companies and consumer services. We also propose to equate socially oriented non-profit organizations to SMEs, which we also, as well as SMEs helped last year "- the words of the head of the Ministry Maxim Reshetnikov.

He explained that the amount of the grant will be calculated based on half of the minimum wage for each employee for 2 weeks of restrictions. If restrictions will be extended, then accordingly the size of the grant will be proportionally increased up to 1 minimum wage per employee.

In order to receive the payment, a company must submit an application to a territorial subdivision of the Federal Tax Service of Russia or to a personal account of a taxpayer, an electronic document management operator or by post. The grant will be credited to the entrepreneur's account no later than 7 working days after the application is submitted.

Made in Russia // Made in Russia

Author: Karina Kamalova