Russian State Duma approves the reduction of the administrative burden on SMEs with a turnover of up to 400 million rubles
In the first reading the State Duma of the Russian Federation agreed with the proposal of the Russian Government to reduce the administrative burden on business with an annual turnover of less than 400 million rubles.
In accordance with the new provisions of the Federal Law of July 26, 2006 № 135-FZ “On Protection of Competition” adopted on September 15, 2015 by the deputies in the first reading, the position of economic entity cannot be considered dominant (including individual entrepreneurs) if the annual revenue does not exceed 400 million rubles.
However, this provision will not apply to certain types of business entities, financial institutions and natural monopolists in the commodity market.
“All provisions of the draft law improve the situation for small business”, - said the head of Russian Federal Antimonopoly Service Igor Artemyev, presenting the initiative of the Russian Government.
According to him, small business with an annual turnover of 400 million rubles per year will never be able to occupy 35% of the market. Accordingly, administrative burden on such businesses, including inspections, is to be reduced.
“They should not be inspected”, - said the head of the Antimonopoly Service.
Chairman of the State Duma of the Russian Federation on Economic Policy, Entrepreneurship and Innovation Development Anatoly Aksakov said that this draft law must be considered in line with the “fourth antimonopoly package”, which was adopted in the second reading.
“These proposals are adopted in the framework of the anti-monopoly package and will facilitate business development by reducing the administrative barriers”, - he said.
The second reading of the draft law is likely to be held before the end of autumn.
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