The President signed a law on small businesses' monthly inclusion in the register of small and medium-sized businesses

Federal law No. 349-FZ of 27.10.2020 amended the law «On the development of small and medium-sized businesses in the Russian Federation». The law is officially published and comes into force within 10 days.

The tax authorities will be able to add new companies to the register on a monthly basis. Accordingly, the chances of small and medium-sized businesses to receive state support increase.

When adding to the register in the period from June 10 to December 10 of each year, the tax authorities will use last year’s information — this applies to those who submitted reports on time, and those who made a delay, but did it in the required year.

Those who no longer meet the conditions will be excluded from the register once a year, but not on August 10, but a month earlier — on July 10.