Revenue limitations for classifying business entities as SMEs were increased twofold

17th July 2015

Prime Minister of the Russian Federation Dmitry Medvedev signed a decree increasing revenue limitations for classifying business entities as SMEs twofold

Prime Minister of the Russian Federation Dmitry Medvedev signed a decree prepared by the Ministry of Economic Development in order to implement the Action Plan to ensure sustainable economic development and social stability in 2015 and the Federal Law № 209-FZ “On the development of small and medium business in the Russian Federation” and the Federal Law № 156-FZ “On Amendments to certain legislative acts of the Russian Federation concerning development of small and medium business in the Russian Federation”.

The Federal Law № 209-FZ “On the development of small and medium business in the Russian Federation” sets up conditions under which legal entities and individual entrepreneurs are classified as small and medium business.

In particular, it was specified that revenue from the sale of goods (works, services), excluding value-added tax for the preceding calendar year shall not exceed the limits set by the Government for each category of small and medium businesses.

The Government Decree of February 9, 2013 № 101 sets up the following limits for legal entities and individual entrepreneurs since January 1, 2013: micro enterprises – 60 million rubles, small enterprises – 400 million rubles, medium-sized enterprises – 1 billion rubles.

In accordance with paragraph 23 of the Action Plan approved by the decree, revenue limitations for classifying business entities as SMEs were increased twofold: micro enterprises – 120 million rubles, small enterprises – 800 million rubles, medium-sized enterprises – 2 billion rubles.

Decisions will allow expanding the range of enterprises eligible for participation in state and local government programs to support small and medium business.

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