Support restrictions eased for small and medium-sized businesses in Tatarstan

Tatarstan eased restrictions for small and medium-sized businesses when they receive support measures. The corresponding bill was approved by the deputies at the 36th meeting of the State Council of the Republic.

Deputy Prime Minister of the Republic of Tatarstan - Minister of Economy of Tatarstan Midkhat Shagiakhmetov said that the bill is aimed at easing restrictions for SMEs in providing support provided by public authorities, the Federal Corporation for the Development of Small and Medium Enterprises, its subsidiaries, as well as support infrastructure organizations subjects of small and medium business.

The Minister noted that for businessmen who committed minor violations, the period during which support must be denied has been reduced from three years to one year. These can be such violations as late submission of reports, not full use of subsidy funds.

Support measures in relation to small and medium-sized businesses that have eliminated violations within the prescribed period are proposed not to be limited.

However, the entrepreneur will be denied support for three years in case of misuse of funds or submission of false information and documents.