subscribe to news Russian Ministry of Industry and Trade proposes a package of measures to support the exhibition and congress industry

Russian Minister of Industry and Trade Denis Manturov has sent Prime Minister of Russia Mikhail Mishustin a proposal to introduce a package of additional measures aimed at supporting the exhibition and congress industry.

These measures were developed on the basis of proposals from the Russian Chamber of Commerce and Industry and the Russian Union of Exhibitions and Fairs with participation of the experts of the Russian Chamber of Commerce and Industry Committee on Congress and Exhibition Activities.

The minister underlined that the exhibition and congress industry was one of the sectors most negatively affected by anti-Covid-19 measures. Not only event organisers and venue owners took a hit because of the cancellation of forums, trade shows, exhibitions and congresses but also companies of related industries such as tourism, transport, catering, culture, retail, and others.

Experts estimate that today the industry provides more than 140,000 jobs, mainly in small and medium sized enterprises, as stated in the minister’s letter.

The ministry considers the following measures necessary:

to cancel the charging of VAT for the specified types of activity for the specified time period,

to provide a deferral from the due date of payment on the previously incurred VAT,

to reduce insurance premiums for all industry members and set the rate at 0%,

to provide a deferral from the due date of payment on earlier income and property taxes,

to provide a grace period from the due date of payment of taxes for enterprises using the simplified taxation system,

to provide an opportunity to recognize expenses incurred by companies in preparing cancelled events and not covered by customer revenues as production costs for income tax purposes.

Press Service of EXPOCENTRE AO (adapted from materials by the Russian Chamber of Commerce and Industry)