Coronavirus: The Federation Council proposed exempting shopping malls from property tax due to COVID-19

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The senators proposed exempting shopping and business centers from property taxes this year because of the coronavirus pandemic. Similar proposals can be found in the list of activities of the Federation Council to improve legislation in connection with measures to function in the economy and the social sphere under the new conditions, writes RIA Novosti with reference to the document.

In accordance with the document, the tax rate for organizations' properties should be lowered to 0% for administrative, business and shopping centers. Corresponding changes are planned to be made in the tax code.

Previously, the Russian shopping center council asked to cancel the property tax at the time of the pandemic. The Council suggested that the industry should be included in the list of those most affected by the spread of coronavirus and abolished property tax, land tax and land rent during a pandemic plus a quarter. In addition, commercial property owners requested that the payment of income tax during the first quarter be postponed for twelve months and the payment of VAT for six months.