MOSCOW, June 5 (RAPSI) – A bill seeking to make self-employed persons and private entrepreneurs eligible for mortgage holidays has reached the State Duma. The document, according to a statement of the lower house of Russia’s Parliament, is to ensure for all borrowers a level playing field notwithstanding the tax regimes they operate under.
The bill is authored by MPs representing the United Russia party in the State Duma.
The legislation currently in force in Russia, the lawmakers observe, obliges borrowers to prove their financial hardships by presenting certain certificates issued by employers.
Nevertheless, if a person profits from business or other activities being a self-employed or a private entrepreneur, that person has no opportunity to obtain the required certificate to prove eligibility for mortgage holidays; therefore banks decline their applications for this measure of support.
The proposals presented by the United Russia MPs seek to fill this lacuna by expanding the list of the documents proving financial hardships self-employed and private entrepreneurs may present.
According to the bill, borrowers are to be obliged to inform their creditors about changes in their average monthly incomes, if such had place within the grace period after the terms of the credit contract changed.