MOSCOW, July 20 (RAPSI) — A bill suspending land and property taxes for businesses for the period of COVID-related restrictions has been submitted to the lower house of the Russian Parliament.

The bill was submitted by Sergey Katasonov, First Deputy Chair of the State Duma Committee on Budgets and Taxes.

The bill amends the Russian Tax Code to the effect that a zero rate of the property tax on organizations and individuals, as well as of the land tax in respect of objects used in entrepreneurial activity is to be established for the period when restrictive and other measures aimed at suspending (restricting) operations of certain enterprises located in respective regions of Russia, among them those introduced under a high alert regime or that of an emergency situation, the explanatory note to the document reads.