The Russian Government approved the selection criteria for the country’s essential enterprises to receive the right to state support in 2020, whether it be subsidies, state loan guarantees, or deferred taxes and fees. The official document was published on the state legal information portal.
To apply for support measures, a company must meet the following criteria:
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it must not be a foreign legal entity, or have over 50 % of its shares owned by a foreign legal entity;
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its tax and fees deficiency must not exceed 10,000 rubles,and there should be no overdue debt for the return of any subsidies to the federal budget;
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a company must pass the financial stability assessment by the Ministry of Economic Development.
The Government Commission for the sustainability of the development of the Russian economy carries out for the final decision.
After May 15, The Ministry of Economic Development is obliged to develop and submit:
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the procedure of applications review;
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the procedure for conducting a financial stability assessment test;
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the procedure for the analysis of economic activities, which is necessary to determine the extent of state support measures;
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the procedure for keeping the register of essential enterprises up to date.
The official list of essential enterprises includes 38 companies representing the building materials industry. Listed among those enterprises are major Russian cement producers — ‘EUROCEMENT group’, Siberian Cement, Holcim (Rus) OOO, Smikom Group, Spasskcement and Gazmetallproekt.
Essential enterprises have the right to apply for: subsidies, state guarantees for loans (up to 50 % of the loan amount), tax deferment or instalment plan, insurance payment deferment or instalment plan, and bankruptcy moratorium until the end of 2020.
