The Russian President Vladimir Putin has signed a law exempting individual entrepreneurs and physical persons from payment of tax debts that were formed prior to January 1, 2015.

      The law recognizes a number of obligations of Russian citizens to be uncollectible and subject to cancellation. These include: arrears and penalties for transportation tax, property tax of physical persons and land tax formed for physical persons as of January 1, 2015. In a similar way, arrears for taxes, penalties and fines for individual entrepreneurs formed before January 1, 2015, will be cancelled. This concerns the arrears on insurance premiums, arrears on penalties and fines of individual entrepreneurs, lawyers, and notaries as of January 1, 2017.