Putin fast-tracks tax relief for small businesses with quarterly incentives
Russian President Vladimir Putin has announced new measures to simplify tax reporting for small businesses. The changes will also introduce tax incentives based on quarterly rather than annual performance, starting earlier than initially planned.
The reforms were outlined during a meeting where Putin endorsed proposals from Economic Development Minister Maxim Reshetnikov. One key change allows small businesses to qualify for tax benefits based on their quarterly contributions, beginning on 1 January 2025—one year ahead of the original 2026 schedule.
Putin also instructed the government to streamline tax reporting processes. He stressed the need for better support through the My Business centres, which will provide informational and methodological assistance to entrepreneurs. The Finance Ministry is now preparing to review legislative amendments in the first quarter of 2025. If approved, the changes will take effect in the second quarter of 2026. Additionally, a transitional period will be introduced to help businesses adapt to the new system.
The reforms aim to reduce administrative burdens and offer faster access to tax incentives. Small businesses will benefit from simplified reporting and quarterly-based eligibility. The government expects the adjustments to improve compliance and support economic growth.
