The Owners of Russian Shopping Centers Turned to the Government for Help
OREANDA-NEWS. The owners of Russian shopping centers turned to the government of the Russian Federation for help, proposing to temporarily cancel a number of tax payments for the industry in connection with the emergency situation on the market due to the coronavirus epidemic.
Due to a decrease in the flow of visitors and a drop in tenants’ revenue, market participants predict a sharp decrease in the solvency of shopping centers. “There is a real risk of default in payments to banks in the amount of about 1 trillion roubles (About 12.7 billion US dollars. – Ed.), at least 1 million jobs are threatened in the country’s shopping centers,” the letter from the Russian Council of Shopping Centers addressed to Russian Prime Minister Mikhail Mishustin says.
In this regard, the Council proposes to supplement the government plan of priority measures to ensure the sustainable development of the economy with clauses providing for a number of tax benefits and subsidies for shopping centers.